Time To Celebrate! US Debt @ $14+ Trillion And Now It's Time To Get Into More!

[forsberg21]

Just like the crack head looking to get their next hit, the US has approved an increase to their debt ceiling. Is it really time to celebrate such a long term crippling move?

Haven't we all heard of this story before? Doesn't this remind you of the guy living next door who takes out a line of credit against his home to buy a $60,000 car he clearly can't afford on his $18/hour job? Do Americans not realize that debt has to be paid back?

Ah America, what a truly disgraceful joke you are. You keep thinking that you can kick the can into the future indefinitely. If you keep thinking that, you will become a nation full of debt paying slaves for generations upon generations.

Americans, here's a word of advice for the future, start learning Chinese.



It's going to be funny when 90% of the replies to this thread will ignore the real issue at hand. I've already prepared myself for a barrage of "foreskin" and other generic name calling insults that will be headed my way.

[BettingGeek]

[Jerm3462]

I'm just glad I will be dead by the time china owns us

[nobs]

Yeah its funny how everyone says we dont want to leave some massive debt for our kids and grandkids to have to pay off, when in fact that is EXACTLY what everyone wants to do. Build up a massive debt for someone else to have to pay off. Not like this debt can ever be paid back anyway, by anyone.

It makes you wonder whats the point of even having a debt ceiling when we just raise it up every time we reach it

[nobs]

No this debt will never be paid back. I have even heard politicians say it. We dont ever have to pay it back, all we have to be able to do is pay the interest payments. They dont plan to ever pay back $14 Trillion. They just hope to grow the GDP at a faster rate than the debt grows so the debt looks smaller as a percentage of GDP. That plan hasnt been working either though.

[pavyracer]

This is only $45,000 debt per each US citizen. If we all sell our possessions at the same time we will still have enough money to pay our debt and buy the whole country of Canada.

[Emily_Haines]

I can't believe China keeps borrowing us money.

China must hate money.

[Emily_Haines]

This is only $45,000 debt per each US citizen. If we all sell our possessions at the same time we will still have enough money to pay our debt and buy the whole country of Canada.

You have to remember 47% already pay no taxes, throw in another 20% that are on social security. In all reality it's more like 200k per every taxpayer.

A default is eventually coming. Is a mathematical certainty.

[pavyracer]

You have to remember 47% already pay no taxes, throw in another 20% that are on social security. In all reality it's more like 200k per every taxpayer.

A default is eventually coming. Is a mathematical certainty.

I'm pretty sure Bill Gates and Warren Buffett will pay more than 200k. I'm not saying everyone is going to pay the same. I'm saying if all US citizens sell all their houses, cars, stocks and other possessions there is going to be plenty of money. This 14 trillion dollar debt is artificial.

[Jimmy0607]

I'm just glad I will be dead by the time china owns us

exactlyyyyyyyy

[notsosharp]

not this guy again!!!!!

[NrmlCurvSurfr]

perfect place to get post points...thanks forsberg

[NrmlCurvSurfr]

what no points?

[NrmlCurvSurfr]

are they there now?

[NrmlCurvSurfr]

oh yeah...no more points for posting....now forsbergs threads ARE truly useless...oh well

[Grits n' Gravy]

I think what many people fail to realize is China doesn't want to assume the responsibility of being World Police. They don't want anything aside from a trading partner with US. Spent time in China working and they are extremely capitalistic and jump on every American fad. Doomsayers like Forsberg are everywhere. They love to sit in their apartment trolling the internet and pulling info to make their argument have proper backing when in reality nobody aside from a handful of the real shot callers know what will happen in the global economy long term. I like reading Forsberg's snippets as they are informative, but take everything he posts with a grain of salt.

[jw]

Americans, here's a word of advice for the future, start learning Chinese.

Why ? China only owns about 8% of our total national debt.
(12% tops if you want to play creative accounting and screw the figures towards your argument)

Japan owns 6.5% of the debt and the UK owns about 2.5% of the debt.

http://www.politifact.com/truth-o-meter/statements/2011/apr/22/herman-cain/herman-cain-says-china-holds-26-percent-us-debt/

[t-bone]

great thread, the people in this generation live in a fuckin fantasy world.

[No coincidences]

great thread, the people in this generation live in a fuckin fantasy world.

Ignorance is bliss. The vast majority of Americans under the age of 30 wouldn't even know what in the f\*\*k you were talking about.

[rfr3sh]

I figured you would get bashed here, but in your threads you just state facts more or less and people hate to face the truth