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If my family could print money, problem solved!  🤑

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The sewage metaphor is inaccurate. The sewage would be the national debt, not the deficit. You can't remove the shit until you stop the flow.

The metaphor really should be whether you'll raise the ceiling or allow your house to explode and ruin the whole neighborhood (which is a good proxy for what would happen if the US defaulted).

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2 minutes ago, cigaraholic said:

Who’s been crazy with the credit card?

Clearly there’s a cigar fanatic in the household.

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I remember this going around some years back, very dated unfortunately.

US National Debt 28.6 trillion

US federal deficit (new debt) 3.1 trillion

 

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11 hours ago, therealrsr said:

I remember this going around some years back, very dated unfortunately.

US National Debt 28.6 trillion

US federal deficit (new debt) 3.1 trillion

 

Yes, that is why I said it was dated. But it still paints the picture of irresponsible spending and budget management for the Federal Govt. Makes me want to 🤮 

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9 hours ago, cgoodrich said:

Yes, that is why I said it was dated. But it still paints the picture of irresponsible spending and budget management for the Federal Govt. Makes me want to 🤮 

Agreed, it was a good post and I feel the same impulse to vomit.  I was updating to show the irresponsibility has grown to 2x in a short time.  No dis meant at all.

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The sewage metaphor is inaccurate. The sewage would be the national debt, not the deficit. You can't remove the shit until you stop the flow.
The metaphor really should be whether you'll raise the ceiling or allow your house to explode and ruin the whole neighborhood (which is a good proxy for what would happen if the US defaulted).

You could if you’re fast at shovelling shit


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National debt including Social Security and Medicare obligations is closer to $123T all in. To put that in perspective the total net worth of every household asset in the country is likely now in the $150T range
Its also interesting to me when talking big numbers that people often neglect to think through that a billion is 1000 millions, and trillion is 1000 billion…just staggering when you start to break it down. Throwing the T word around like its nothing now


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11 hours ago, therealrsr said:

Agreed, it was a good post and I feel the same impulse to vomit.  I was updating to show the irresponsibility has grown to 2x in a short time.  No dis meant at all.

None taken my friend. Your point is so very valid. Be well, be safe!

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  • 1 month later...

The debts of some countries are so big. I don't even understand how they can pay such considerable sums. I remember when I was full of debts. It was the most challenging period in my life. I was using different methods of how to pay off debts quickly. From my experience, I can say that discipline is the most important thing. It will help you to make a plan of how to pay the debts and to follow it. I was saving money on everything I could and tried to pay the maximum amount of money I was able monthly to get rid of debts as fast as possible.

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15 hours ago, Ryan said:

Every country has national debt, it's not just US policy. Please don't let this thread become a US political thread.

Household or personal debt is not the same as national debt. It depends how the money is invested.

 

 

Whaddya talking about? I just started printing my own money the other week, it's working great so far!

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On 9/27/2021 at 3:59 PM, Ryan said:

Every country has national debt, it's not just US policy. Please don't let this thread become a US political thread.

Household or personal debt is not the same as national debt. It depends how the money is invested.

I was just listening to a TED talk last week discussing an alternative way of looking at national deficits. I'm sure not everyone will agree with it, but maybe worth considering.

For the record, I know a few economists, some of whom have worked at a national level as policy advisors. Based on my conversations with them, it's all guessing! 

 

Great watch. Some really interesting points.

 

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On 9/27/2021 at 10:59 AM, Ryan said:

I'm sure not everyone will agree with it, but maybe worth considering.

I agree with her main point "it matters how the money is spent....".

However, modern western societies have made it very difficult to build infrastructure that has a high return on investment for the economy.    Those of us who have worked on major construction projects can list the incredible number of federal, state and local regulations that impede development of anything--and while some of those regulations have more merit than others--the bottom line is that most infrastructure money ends up in the hands of consultants, lawyers, architects and engineers, environmental experts, surveyors  etc etc etc...and as often as not the project never gets done at all.

I am a bit gloom and doom, and I think we have entered the "event horizon" of collapse--where we can move in all different directions at all different speeds, but at the end of the day the result is the same....

 

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