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Government deficit?

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Re: Government deficit?

Postby urbanbreez » Fri Aug 26, 2011 4:54 pm

lastingsgriller wrote:
urbanbreez wrote:
AussieDodger wrote:Yeah I don't think if you owe $200 on your credit card, you can ring the bank and say "BUT BIG PHIL AND JIMBO AT THE PUB OWE ME $150 EACH!!!!!ONE!!!" ;-7

Your "money" is no good here, America :-b



Now a serious (non-snarky) question......... I wonder if the "universal" currency will change from US to pounds?


no, but i would say that with account receivables (phil and jimbo) i had a net surplus credit of $100.


yeah... but eventually you're gonna have to write off phil and jimbo's debt as bad debt expense. you're never getting that money. they'd rather let you sleep with their sister.

at the same time this "bank" can't/won't be calling to demand lump sum payment in full either... and even if they did, we could just tariff the shiz out of them.
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Re: Government deficit?

Postby bleach168 » Fri Aug 26, 2011 5:49 pm

U.S. is worth 188 trillion.

In that guy's calculation, the U.S. federal govt only has about 1.26 trillion in assets. But the american people have 188 trillion in assets.

So while yes, we're passing on this debt to future generations, we are also passing off 188 trillion in assets to future generations.
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Re: Government deficit?

Postby bigken117 » Fri Aug 26, 2011 10:12 pm

oh good, maybe we can call in on the debt owed to us and get out of this.

"Hey Pakistan, that 3.757 Billion we've given you 2001-2008 (source) to fight terroism, how about paying some of that back for hiding Bin Laden? What do you mean go F myself?"
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Re: Government deficit?

Postby Dan Lambskin » Fri Aug 26, 2011 11:25 pm

should i sell my gold for apple stock? WHIR
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Re: Government deficit?

Postby bigh0rt » Fri Aug 26, 2011 11:32 pm

Dan Lambskin wrote:should i sell my gold for apple stock? WHIR

Apple stock is going to continue to plummet after I loot a pallet of iPad 2s during the hurricane this weekend. I have my looting outfit ready and everything.
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Re: Government deficit?

Postby wrveres » Sat Aug 27, 2011 3:41 am

Good ... All the more reason to lower my taxes.
and while we are are it, make the half of the country that pays zero federal taxes, but uses 90% of the services, pay their fair share.
yeah... but eventually you're gonna have to write off phil and jimbo's debt as bad debt expense. you're never getting that money
When will Fannie and Freddie learn ..
bigh0rt wrote:
Dan Lambskin wrote:should i sell my gold for apple stock? WHIR
Apple stock is going to continue to plummet after I loot a pallet of iPad 2s during the hurricane this weekend. I have my looting outfit ready and everything.
Awesome.

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Re: Government deficit?

Postby knapplc » Sat Aug 27, 2011 7:24 pm

bigken117 wrote:oh good, maybe we can call in on the debt owed to us and get out of this.

"Hey Pakistan, that 3.757 Billion we've given you 2001-2008 (source) to fight terroism, how about paying some of that back for hiding Bin Laden? What do you mean go F myself?"


Isn't it just as likely that our creditors will not - ever - be calling in our debts? China could call tomorrow and say, "Send us the money you owe us." Our response, "Go pound rice." Suddenly the world goes into a depression the likes of which make the 1930s look like the 1920s, and we're all back to rubbing sticks to make our fires.

None of these debts will ever be collected, will they? Realistically? That's certainly not a license to continue to exercise poor money management by our government, mind you.
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Re: Government deficit?

Postby Tavish » Sat Aug 27, 2011 8:24 pm

Not to make light of it, but really 4 billion dollars over 7 years to Afghanistan? You could give every sovereign state on the planet 4 billion dollars and you would have roughly the cost of US Social Security alone in the 2011 budget.

There are basically NO nations that owe the US money. Distribution of foreign aid is completely different than China buying US treasury notes.
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Re: Government deficit?

Postby Mookie4ever » Sun Aug 28, 2011 1:31 pm

wrveres wrote:Good ... All the more reason to lower my taxes.
and while we are are it, make the half of the country that pays zero federal taxes, but uses 90% of the services, pay their fair share.
.


Let's put churches to the top of that list. Why do they a free pass on taxes? Why do you get a write off for giving money to a church?
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Re: Government deficit?

Postby wrveres » Sun Aug 28, 2011 1:34 pm

Mookie4ever wrote:
wrveres wrote:Good ... All the more reason to lower my taxes.
and while we are are it, make the half of the country that pays zero federal taxes, but uses 90% of the services, pay their fair share.
.
Let's put churches to the top of that list. Why do they a free pass on taxes? Why do you get a write off for giving money to a church?
agreed
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