Borrowing and debt: breaking the record

Discussion in 'Free-For-All Archives' started by Pennsylvania Jim, Dec 3, 2004.

  1. Pennsylvania Jim

    Pennsylvania Jim
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    "In seven working days, the Bush administration borrowed $103.4 billion from individual investors and foreign countries still willing to loan us money. That’s a record.

    This is all money that future taxpayers are going to be forced to pay back someday plus annual interest. It's the same as a tax increase put on your credit card. ..."

    Read the interesting article HERE
     
  2. The Galatian

    The Galatian
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    No one cares, Jim. Our credit is still good, and we're living high on the hog.

    Well, some folks are. The government trough is filled to overflowing.

    I guess the thinking is that Halliburtion has it right; "go grab what you can while you can. Honesty is for suckers."
     
  3. poncho

    poncho
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    Who needs money in the future anyways Pa Jim? We're all going to have neato national ID cards that we can use at Wal-Mart just like cash!
     
  4. The Galatian

    The Galatian
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    Eventually, they'll just implant them, under a spot on your hand or forehead.
     
  5. poncho

    poncho
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    Well, ya gotta start somewhere Galatian.
     
  6. Pennsylvania Jim

    Pennsylvania Jim
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    Where are all the Bush supporters? Hello...hello...anyone there??? Hello...
     
  7. Pennsylvania Jim

    Pennsylvania Jim
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    Still no response from the Bush devotees. I thought that maybe Joseph would be here accusing me of anti-Semitism, or perhaps Larry pitying me for not being able to read or do math, or calling me a liar. Maybe this one has them stumped...although I doubt it, there must be some lame excuse that they can make up...
     
  8. The Galatian

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    Yur a gol-darned liberal, Jim, what with all your hi-falutin' ideas about government living within it's means.

    Why if Bush did that, we wouldn't have a debt before long. And then what would our children pay for with their taxes?

    You think they have better things to pay for than our debts?

    WFTH-I
     
  9. BillyG

    BillyG
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    We are in the middle of a war. War takes money.

    My security and the future of my family is worth the cost!!!
     
  10. The Galatian

    The Galatian
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    You think our invasion of Iraq made you more secure?

    Your family's future is endangered because of the massive debt. Is your security enhanced because terrorists are now able to operate in Iraq?

    Do you think they like us better now? If the expense is worth it, then we should pay for it. Putting it on the credit cards is a very foolish and self-destructive move.

    If you care about your kids, why are you expecting them to pay your debts?
     
  11. exscentric

    exscentric
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    "Where are all the Bush supporters? Hello...hello...anyone there??? Hello..."

    Simple, if you can do it better become pres. and do it. I'd guess he is doing what he thinks best, and since he is pres. that is what he is supposed to do - you don't agree - well you didn't get him voted out so.......
     
  12. billwald

    billwald
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    problem isn't govt spending but people who are buying toys on credit and houses with zero down.
     
  13. Pennsylvania Jim

    Pennsylvania Jim
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    Nope. If my neighbor runs up a debt, it's his problem. When the government runs up a debt, it's MINE and YOURS (and the next generation's).
     
  14. BillyG

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    Amazing! The only time that debt is a problem is when it's a republican in the White House. Until the war started the national debt had been coming down for a decade just as Ronald Reagan said it would. He said the mid to late 90's would be the time the debt would come down. BTW, in 97 when Slick Willie said the economy was the best in history the unemployment rate was 5.8%, we are at 5.6% guess we have the best economy in history using Slick Willie numbers.

    Do you know how many billions of dollars 911 cost our economy? We have not recovered from those attacks yet. Never in the history of America has our economy taken such a direct hit, yet we are bouncing back. So go ahead with you with your negative down in the mouth attitude, but I believe in America and Americans.

    And yes attacking Iraq has made us safer. Saddam had the money and the power to buy and make WMD. BTW most intelligent folks believe the troops on the ground when they say the have the intel that Saddam moved the WMD's but not you liberals.

    Mass graves of over 300,000 men, women, and children was also cause enough.

    If you are so unhappy with American, and I believe we the majority of American spoke really loud on election day, I hear Canada is accepting application, maybe you will be happier there.


    Billy [​IMG]
     
  15. Pennsylvania Jim

    Pennsylvania Jim
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    The debt is made far worse by the wild, out-of-control spending policies of GW Bush and the GOP congress. It's not mainly the war; it's domestic social psending.

    We used to criticize the Democrats for that; now that the GOP has control of the process, they turn out to be worse.

    Why would you defend such wild social spending, unless you are a big-government liberal?
     
  16. The Galatian

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    So Billy, do you think that Clinton ran up the debt?

    Are you very sure?

    It used to be that the Republicans were the guardians of fiscal sanity, and the democrats were wild spenders.

    Welcome to the new millenium. Roles have been reversed.
     
  17. BillyG

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    Clinton did nothing in 8 years except live off the gains of the Reagan years. Can you name me one economic package that Clinton passed?

    The only reason the rules have changed is because we are now the targets.


    Billy
     
  18. exscentric

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    Just read that the DNC is pushing for a second language program for the US of A - not Spanish or English but Whine. Seems the idea is spreading quickly.

    Why not wax eloquent and put facts to your comments - why not list all this wild spending on social programs that weren't in place before.

    May be true, but I have seen next to nothing in the way of fact for all the whining I hear.

    Our newspaper's letter to the editor section is full of tearful expressiions of whine, but there is nothing in the way of fact - only statements of opinion as if backed by fact.

    Several had their "kerry signs" stolen from their front yards - "Bush is spreading fear across our nation" was the comment - a stolen sign in a front yard is the president's fault - ya, right - especially when bush signs were also disappearing!

    Like I said, go do a better job if you think you can.
     
  19. exscentric

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    http://www.brillig.com/debt_clock/faq.html has a chart of debt, and it looks like Mr. Clinton raised the dept over a trillion and So far Mr. Bush is under two trilliion in increases.

    Considering the 9/11 hit to the economy and the government bailing out the airlines and they gave bunches to the families etc. some increase is to be expected along with the war and all that goes with that.

    Wonder if anyone has totalled all the federal funds that went in that instant.
     
  20. exscentric

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    By the way, what are all you bush bashers upset about, you helped elect him!


    You backed Kerry didn't you :)
     

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