no this will never come. What will come is the interest for the debt will be such a large % of our budget that just to run the .gov and pay the debt will take all of the budget. At this point there will be no money for the entitlement programs that our creating this debt in the first place. After that it will basically solve itself.
Gee, I wonder if the war had anything to do with that. Is there an easy to to determine what the debt would have been without the war?
I know that. Will there be an asterisk for the war debt under Obama's watch since he didn't start it?
Cost of the war in Iraq is $1 Trillion. That is a whole lot of money. But it is a minor fractional amount of that $50 trillion debt. Even if you estimate secondary costs at a multiple of 2 or three times the total stated cost, it is still fractional. Even if you bump the debt down to a round $45 trillion (knock $4.614 trillion off), you still have a ratio of nearly 320%.
you know, you come in here and you make wisecracks about obama's victory like what the president does doesn't matter and its all popularity but in your question is the fundamental problem with the republican philosophy. and even though you never take a subject seriously outside the fact that you are a republican, i'm going to try and respond seriously with my limited knowledge. bush cut taxes, didn't cut spending. reagan cut taxes, didn't cut spending. that's why they are by far the biggest deficit runnerupers in history. its nice to promise more efficient government and cut taxes, if you make gov't efficient. but in the end, they neither cut gov't nor made it more efficient. someone posted a really good article earlier in the campaign about the fall of conservativism, and its thesis is that less government sounds nice, but in the end, especially in times of crisis, people want government. and that's the fundamental problem with the current republican philosophy, and why bush and reagan are historic deficit runner uppers
I was joking....of course that is not the answer...it seriously dilutes our currency. No one wants to be repaid, they just want the interest payment. I think our budget per year breaks down something like this: 26% military 24% interest on our debt 50% the rest. Something like that. DD DD
Technically, we are still mostly borrowing, this is a game of whose economy is less f**ked up. The question is, what happens when most Americans have already used up most of their purchasing power for next 5 years?
