1. #1
    Otters27
    Otters27's Avatar SBR PRO
    Join Date: 07-14-07
    Posts: 14,752

    US Debt

    Is Trump really going to file Bankruptcy?

  2. #2
    cincinnatikid513
    kill em with kindness
    cincinnatikid513's Avatar SBR PRO
    Join Date: 11-23-17
    Posts: 6,949

    where u getting ur news otters

    $30
    Angelman
    donation 5/22/2018

    $30
    Angelman
    donation 5/4/2018

    $20
    Angelman
    donation 02/15/2018


  3. #3
    Otters27
    Otters27's Avatar SBR PRO
    Join Date: 07-14-07
    Posts: 14,752

    My father in law said we are headed toward hyper inflation

  4. #4
    Clutchut12
    Clutchut12's Avatar SBR PRO
    Join Date: 09-20-16
    Posts: 2,481
    Betpoints: 36

    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

  5. #5
    magaman
    Update your status
    magaman's Avatar Become A Pro!
    Join Date: 01-17-18
    Posts: 1,940
    Betpoints: 25

    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
    MinnesotaFats's Avatar SBR PRO
    Join Date: 12-18-10
    Posts: 1,732
    Betpoints: 596

    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
    RoyBacon's Avatar SBR PRO
    Join Date: 09-21-05
    Posts: 4,717
    Betpoints: 3550

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

    SBR Founder Join Date: 9/21/2005


  8. #8
    Andy117
    Andy117's Avatar SBR PRO
    Join Date: 02-07-10
    Posts: 8,915
    Betpoints: 2269

    The only time anyone cares (pretends to) about the US debt is when a democrat is in the White House.

  9. #9
    d2bets
    d2bets's Avatar SBR PRO
    Join Date: 08-10-05
    Posts: 23,942
    Betpoints: 5799

    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.

    SBR Founder Join Date: 8/10/2005


  10. #10
    khicks26
    khicks26's Avatar SBR PRO
    Join Date: 09-16-06
    Posts: 18,654
    Betpoints: 896

    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?
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 05/21/2018


  11. #11
    guitarjosh
    guitarjosh's Avatar Become A Pro!
    Join Date: 12-25-07
    Posts: 2,923
    Betpoints: 1151

    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; 02-12-18 at 11:00 PM.

  12. #12
    chico2663
    chico2663's Avatar SBR PRO
    Join Date: 09-02-10
    Posts: 18,893
    Betpoints: 17

    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?
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 05/14/2018

    $20
    Angelman
    donation 02/15/2018


  13. #13
    guitarjosh
    guitarjosh's Avatar Become A Pro!
    Join Date: 12-25-07
    Posts: 2,923
    Betpoints: 1151

    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
    RoyBacon's Avatar SBR PRO
    Join Date: 09-21-05
    Posts: 4,717
    Betpoints: 3550

    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.

    SBR Founder Join Date: 9/21/2005


  15. #15
    chico2663
    chico2663's Avatar SBR PRO
    Join Date: 09-02-10
    Posts: 18,893
    Betpoints: 17

    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
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 05/14/2018

    $20
    Angelman
    donation 02/15/2018


  16. #16
    chico2663
    chico2663's Avatar SBR PRO
    Join Date: 09-02-10
    Posts: 18,893
    Betpoints: 17

    I guess you believe they aren't taking taxes for ss and medicare out of peoples payroll
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 05/14/2018

    $20
    Angelman
    donation 02/15/2018


  17. #17
    guitarjosh
    guitarjosh's Avatar Become A Pro!
    Join Date: 12-25-07
    Posts: 2,923
    Betpoints: 1151

    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
    chico2663's Avatar SBR PRO
    Join Date: 09-02-10
    Posts: 18,893
    Betpoints: 17

    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.
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 05/14/2018

    $20
    Angelman
    donation 02/15/2018


  19. #19
    chico2663
    chico2663's Avatar SBR PRO
    Join Date: 09-02-10
    Posts: 18,893
    Betpoints: 17

    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.
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 05/14/2018

    $20
    Angelman
    donation 02/15/2018


  20. #20
    Git Lo
    Git Lo's Avatar Become A Pro!
    Join Date: 02-20-11
    Posts: 3,011
    Betpoints: 9261

    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

  21. #21
    guitarjosh
    guitarjosh's Avatar Become A Pro!
    Join Date: 12-25-07
    Posts: 2,923
    Betpoints: 1151

    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
    BOA12's Avatar Become A Pro!
    Join Date: 02-19-12
    Posts: 2,484
    Betpoints: 64

    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
    rkelly110's Avatar Become A Pro!
    Join Date: 10-05-09
    Posts: 22,520
    Betpoints: 3061

    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
    khicks26's Avatar SBR PRO
    Join Date: 09-16-06
    Posts: 18,654
    Betpoints: 896

    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?
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 05/21/2018


  25. #25
    RoyBacon
    RoyBacon's Avatar SBR PRO
    Join Date: 09-21-05
    Posts: 4,717
    Betpoints: 3550

    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.

    SBR Founder Join Date: 9/21/2005


  26. #26
    khicks26
    khicks26's Avatar SBR PRO
    Join Date: 09-16-06
    Posts: 18,654
    Betpoints: 896

    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.
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 05/21/2018


  27. #27
    RoyBacon
    RoyBacon's Avatar SBR PRO
    Join Date: 09-21-05
    Posts: 4,717
    Betpoints: 3550

    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.

    SBR Founder Join Date: 9/21/2005


  28. #28
    khicks26
    khicks26's Avatar SBR PRO
    Join Date: 09-16-06
    Posts: 18,654
    Betpoints: 896

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


    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 05/21/2018


  29. #29
    RoyBacon
    RoyBacon's Avatar SBR PRO
    Join Date: 09-21-05
    Posts: 4,717
    Betpoints: 3550

    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.

    SBR Founder Join Date: 9/21/2005


  30. #30
    khicks26
    khicks26's Avatar SBR PRO
    Join Date: 09-16-06
    Posts: 18,654
    Betpoints: 896

    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.
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 05/21/2018


  31. #31
    RoyBacon
    RoyBacon's Avatar SBR PRO
    Join Date: 09-21-05
    Posts: 4,717
    Betpoints: 3550

    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.

    SBR Founder Join Date: 9/21/2005


  32. #32
    khicks26
    khicks26's Avatar SBR PRO
    Join Date: 09-16-06
    Posts: 18,654
    Betpoints: 896

    Quote Originally Posted by RoyBacon View Post

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

    3-QUESTION
    SBR TRIVIA WINNER 05/21/2018


  33. #33
    RoyBacon
    RoyBacon's Avatar SBR PRO
    Join Date: 09-21-05
    Posts: 4,717
    Betpoints: 3550

    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.

    SBR Founder Join Date: 9/21/2005


  34. #34
    khicks26
    khicks26's Avatar SBR PRO
    Join Date: 09-16-06
    Posts: 18,654
    Betpoints: 896

    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.
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 05/21/2018


  35. #35
    RoyBacon
    RoyBacon's Avatar SBR PRO
    Join Date: 09-21-05
    Posts: 4,717
    Betpoints: 3550

    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.

    SBR Founder Join Date: 9/21/2005


1234 Last
Top