1. #1
    Otters27
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    US Debt

    Is Trump really going to file Bankruptcy?

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  2. #2
    cincinnatikid513
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    where u getting ur news otters
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  3. #3
    Otters27
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    My father in law said we are headed toward hyper inflation

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  4. #4
    Clutchut12
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    Quote Originally Posted by Otters27 View Post
    My father in law said we are headed toward hyper inflation
    Otters -20000 we will be ok, this is one u should take!!!relax and dont worry we are in good hands
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  5. #5
    magaman
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    Your father in law is correct 100% but it has nothing to do with Trump.

    The USD is a fiat currency, and in the history of the world no fiat currency has survived more than 60 years... the USD came off the gold standard in 1971... tick tock

    The USA defaulting is a certainty. I used to be all worried about it... not any more. Just don't hold plenty of USD and you will be okay.

  6. #6
    MinnesotaFats
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    No

    72.5% of our annual spending, about $3.2 Trillion of the nealy $4trillion we spend, is on interest and government/ social benefits.

    Our deficit is $22 Trillion

    We, in theory, coukd enact austerity programs and not lose any vital services whilst eliminating the entire defecit in about 5 years.... however, it'd also eliminate both political parties.

    Best thing in America would be more outsiders to hold office and term limits on public service.

  7. #7
    RoyBacon
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    Must cut or at least cap(do not adj for inflation) non military spending. There is no choice.

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  8. #8
    Andy117
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    The only time anyone cares (pretends to) about the US debt is when a democrat is in the White House.
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  9. #9
    d2bets
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    Quote Originally Posted by Andy117 View Post
    The only time anyone cares (pretends to) about the US debt is when a democrat is in the White House.
    Republicans will be budget hawks again in 35 months time.

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  10. #10
    khicks26
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    Quote Originally Posted by RoyBacon View Post
    Must cut or at least cap(do not adj for inflation) non military spending. There is no choice.

    Why? Who are we under attack from?

  11. #11
    guitarjosh
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    Quote Originally Posted by RoyBacon View Post
    Must cut or at least cap(do not adj for inflation) non military spending. There is no choice.
    We need to cut military spending, but the biggest problems are social programs. I think the best thing we could do for SS and Medicare is to index the retirement age to the number of workers supporting each beneficiary. 2-1 isn't working, and we need to raise that number up exponentially.
    Last edited by guitarjosh; 02-13-18 at 12:00 AM.

  12. #12
    chico2663
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    Quote Originally Posted by guitarjosh View Post
    We need to cut military spending, but the biggest problems are social programs. I think the best thing we could do for SS and Medicare is to index the retirement age to the number of workers supporting each beneficiary. 2-1 isn't working, and we need to raise that number up exponentially.
    Just think josh if they put the 2.7 trillion back into social security they stole would we need to cut it?

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  13. #13
    guitarjosh
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    Quote Originally Posted by chico2663 View Post
    Just think josh if they put the 2.7 trillion back into social security they stole would we need to cut it?
    Yes, that 2.7 T wouldn't even last 3 years at our current payout. The majority of our spending is due to stuff like SS. We need to cut.

  14. #14
    RoyBacon
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    Quote Originally Posted by khicks26 View Post
    Why? Who are we under attack from?
    Exactly the point. If we maintain our strength we won't have to worry about being attacked.

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  15. #15
    chico2663
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    Quote Originally Posted by guitarjosh View Post
    Yes, that 2.7 T wouldn't even last 3 years at our current payout. The majority of our spending is due to stuff like SS. We need to cut.
    josh are you this uneducated? Aren't the tax payer and companies paying in every year?
    fact social security is solvent for the next 20 years. Now if you take in what they stole it would probably take to 50 years.
    https://www.ssa.gov/policy/docs/ssb/v75n1/v75n1p1.html

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  16. #16
    chico2663
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    I guess you believe they aren't taking taxes for ss and medicare out of peoples payroll

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  17. #17
    guitarjosh
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    Quote Originally Posted by chico2663 View Post
    josh are you this uneducated? Aren't the tax payer and companies paying in every year?
    fact social security is solvent for the next 20 years. Now if you take in what they stole it would probably take to 50 years.
    https://www.ssa.gov/policy/docs/ssb/v75n1/v75n1p1.html
    That has nothing to do with what I said. The biggest part of the budget is discretionary spending, ie SS and Medicare. You could eliminate defense all together and we would still run a deficit. The problem with SS isn't insolvency, at least right now, the problem is that it costs too much. That is where cuts must be made.

  18. #18
    chico2663
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    wait so they get to take taxes out of our paychecks for these services but not give the benefits? So we are living in a feudal system? Man it is rough discoursing with you because your either naive or silly.

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  19. #19
    chico2663
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    Quote Originally Posted by guitarjosh View Post
    That has nothing to do with what I said. The biggest part of the budget is discretionary spending, ie SS and Medicare. You could eliminate defense all together and we would still run a deficit. The problem with SS isn't insolvency, at least right now, the problem is that it costs too much. That is where cuts must be made.
    when this was set up it was they were supposed to buy t bills. it was originally separate. So if johnson never put it in with regular budget we wouldn't be having this discussion.

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  20. #20
    Git Lo
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    its looking bleak out there hence everything you see on the news. It really is a shit show, if we have another financial crisis there probably won't be a recovery. The US is a totalitarian government and Trump is the perfect lia..president for the job.

    Love,
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  21. #21
    guitarjosh
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    Quote Originally Posted by chico2663 View Post
    wait so they get to take taxes out of our paychecks for these services but not give the benefits? So we are living in a feudal system? Man it is rough discoursing with you because your either naive or silly.
    No, I'm saying raise the retirement age. Back in 1945 there were over 40 workers supporting 1 SS beneficiary, now there are 2 workers. If you indexed the retirement age to there being 30 workers for 1 beneficiary for example, we could drastically cut spending. In 1940, less than 60% of the population lived to be 65, and those that did only lived an average of 13 years. Now, around 80% of the population hits 65 and they live about 20 years.

  22. #22
    BOA12
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    Quote Originally Posted by Git Lo View Post
    its looking bleak out there hence everything you see on the news. It really is a shit show, if we have another financial crisis there probably won't be a recovery. The US is a totalitarian government and Trump is the perfect lia..president for the job.

    Love,
    The Deep State
    P S Deep thinkers are dwindling at an alarming rate around the world and abroad. The Deep State thanks their loyal followers and cherry-pickers who keep their "party" going as They grab with Right and Left(both hands) friends to assist.

  23. #23
    rkelly110
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    Quote Originally Posted by Andy117 View Post
    The only time anyone cares (pretends to) about the US debt is when a democrat is in the White House.
    Right here in a nutshell.

  24. #24
    khicks26
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    Quote Originally Posted by RoyBacon View Post
    Exactly the point. If we maintain our strength we won't have to worry about being attacked.

    Plus we can around the world attacking everyone else. Is that what you mean?

  25. #25
    RoyBacon
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    Keeping the country save is the only real Constitutional responsibility of the central government. The US has the #1 economy and should have a military to completely protect itself. Any other spending is secondary. I think we all agree on that.

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  26. #26
    khicks26
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    Quote Originally Posted by RoyBacon View Post
    Keeping the country save is the only real Constitutional responsibility of the central government. The US has the #1 economy and should have a military to completely protect itself. Any other spending is secondary. I think we all agree on that.

    and corporate interest around the world. Being an imperial power takes a lot tax dollars Roy. Fuk the old people that live here.

  27. #27
    RoyBacon
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    The military is only 20% of the budget. You won't hear that on those left wing vids. You have the other 80% to take of the old.

    Folks need to get off the couch and work and save. Why should I work my dvck off and save just to give it to yaahoo's who are too lazy to do the same?

    It's not the governments job to support them but it is the governments job to protect them.

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  28. #28
    khicks26
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    Colin Powell's Chief of Staff is a Lefty? 20% is a bull shit number. .50 of every dollar goes to the military.



  29. #29
    RoyBacon
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    Get no sympathy from me. It's the only required expense. We really need to phase SS out. Course I'd like to get mine first . Have a 30 year wind down period. If you're 35 you need to be saving for your retirement.

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  30. #30
    khicks26
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    Quote Originally Posted by RoyBacon View Post
    Get no sympathy from me. It's the only required expense. We really need to phase SS out. Course I'd like to get mine first . Have a 30 year wind down period. If you're 35 you need to be saving for your retirement.
    WOW kind of uninformed & Dicky Roy.


    Just want to preach your narrative, believe the BS, & fuk everyone else. Real Nice Guy you are.

  31. #31
    RoyBacon
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    Quote Originally Posted by khicks26 View Post
    WOW kind of uninformed & Dicky Roy.


    Just want to preach your narrative, believe the BS, & fuk everyone else. Real Nice Guy you are.

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  32. #32
    khicks26
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    Quote Originally Posted by RoyBacon View Post

    Well your being a prick dude. Did you go to the Josh school of hypocrites?

  33. #33
    RoyBacon
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    Oh sorry. Couldn't resist.

    Josh is right and chico too on SS. It's not sustainable. And to cure chico's points it should be privatized so the gov can't steal the money...like the post office possibly.

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  34. #34
    khicks26
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    Quote Originally Posted by RoyBacon View Post
    Oh sorry. Couldn't resist.

    Josh is right and chico too on SS. It's not sustainable. And to cure chico's points it should be privatized so the gov can't steal the money...like the post office possibly.
    Yea that way Wall St can steal it. SS is good for 20 years. Raise the cap on the rich who don't pay past 120K & its good forever.


    Talking out your ass again Roy.

  35. #35
    RoyBacon
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    Quote Originally Posted by khicks26 View Post
    Yea that way Wall St can steal it. SS is good for 20 years. Raise the cap on the rich who don't pay past 120K & its good forever.


    Talking out your ass again Roy.
    You do love big gov.

    What's wrong with a private company? Keep it separate from the always broke gov. Invest the $ in US bonds to keep up with inflation. It's the only way to guarantee solvency long term.

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