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The US is choked with debts, almost 8 Trillion!!!
Just heard on the news last night that the US is almost 8 trillion in debt the interest payment is a BIG 322 billion a year. By the way those were last year's fugures. This year, as we all know, the numbers are much bigger What happens when the foreign governments stop loaning us money buy not buying our treasury bills? Even if they continue to buy the treasury bills, what do you think the impacts are to our economy with these HUGE debts and interest payments?
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Flash Gordon 2003 E500 BlackOpal/Charcoal 2004 Infiniti G35X |
#2
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Nello Tare 1982 300D (266,001 mi.) looking and running great Previously owned: 1976 450 SLC 1983 300D 1976 300D also 1982 Jaguar XJ6 (loved, but gone) |
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http://www.publicdebt.treas.gov/opd/opdint.htm
http://www.publicdebt.treas.gov/opd/opdpdodt.htm Note that these payments are based on the very low interest rates that we are enjoying these days. As rates increase these expected payments will get even larger. Government is in the business of the transfer of wealth, this is but one example. |
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Proud owner of .... 1971 280SE W108 1979 300SD W116 1983 300D W123 1975 Ironhead Sportster chopper 1987 GMC 3/4 ton 4X4 Diesel 1989 Honda Civic (Heavily modified) --------------------- Section 609 MVAC Certified --------------------- "He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche |
#5
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This is what happens when fear and BS issues like gay marriage and Swift Boat *******s take over an election. These topics were simply not discussed. We are moving into an era that is going to start putting pressure on interest rates, and as they rise so will our debt burden. We will eventually get to the point where we become the drug-addict brother-in-law of the world, the guy who uses his credit card to make his car payments. Look how close we are - just do the math. Our interest due is 322 billion. Our deficit is 500 billion. These issues should have been paramount in our last election, but instead it was driven by the Corporate Media Machine into distracting stupid fluff and trumped up terror fear. We are borrowing huge sums of money to give the rich in this country a huge tax cut that they do not deserve. Tax cuts should come as a reward for running government efficiently. Instead, first we engage in robbing our children to make the rich richer, and now second we are amazed that it may be getting so bad that these chickens are coming home to roost on us. We are playing with world wide economic collapse. If we do not either cut spending or raise taxes, the world is going to cancel our credit cards and the Saudis are going to repo the car.
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#6
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What happens? Bad things man, bad things.
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#7
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What will happen is the US Stock market is going to tank like no one has ever seen it.
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89 300E 79 240D 72 Westy 63 Bug sunroof 85 Jeep CJ7 86 Chevy 6.2l diesel PU "The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." Marcus Aurelius |
#9
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Luckily most of the population saw through the smoke screen the DNC was putting up.....
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Proud owner of .... 1971 280SE W108 1979 300SD W116 1983 300D W123 1975 Ironhead Sportster chopper 1987 GMC 3/4 ton 4X4 Diesel 1989 Honda Civic (Heavily modified) --------------------- Section 609 MVAC Certified --------------------- "He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche |
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Too bad most of the population didn't see through the smoke screen the RNC was putting up..... |
#12
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You may also be right best to not try to figure it out and just follow along, without being committed to any one vehicle. Im buying water companies.
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89 300E 79 240D 72 Westy 63 Bug sunroof 85 Jeep CJ7 86 Chevy 6.2l diesel PU "The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." Marcus Aurelius |
#13
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Bailing a sinking ship with a thimble- We already don't pay up on foreign debts. Hell, we don't pay our UN dues either. But, Israel is still the #1 foreign aid recipient... From 1949-1997, the U.S. has given Israel a total of $83.205 billion. The interest costs borne by U.S. tax payers on behalf of Israel are $49.937 billion, thus making the total amount of aid given to Israel from 1947-1997 $133.132 billion. This may mean that U.S. government has given more federal aid to the average Israeli citizen in a given year than it has given to the average American citizen. Oh yeah, and these are 1997s numbers- they've likely doubled by now. The US "budget" is such a sham. Only a balanced budget law/amendment can save us now... or an actual fiscal conservative in office. Clinton seems to have done a pretty good job at that part of his job. oh but wait, it's all 'cause we're still paying for Bosnia. right.
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Cannondale ST600 XL Redline Monocog 29er 2011 Mini Cooper Clubman 2005 Honda Element EX www.djugurba.com www.waldenwellness.com |
#14
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The economic hammer will fall when other countries come to the opinion that holding onto dollars is too risky an investment for the near term and either stop loaning us trade dollars or start dumping their dollar holdings. If our creditors believe that we're mismanaging our economy, it could make their money managers plenty nervous.
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#15
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They were actually peacefull Swiss who were misunderstood.
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Proud owner of .... 1971 280SE W108 1979 300SD W116 1983 300D W123 1975 Ironhead Sportster chopper 1987 GMC 3/4 ton 4X4 Diesel 1989 Honda Civic (Heavily modified) --------------------- Section 609 MVAC Certified --------------------- "He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche |
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