Political Discussions
US National Debt Clock
Posted by timethief • 5/28/09 • Subscribe to this Discussion [RSS] • Report This Topic
Topics: clock, debt, usa
Have you found this yet?
www.usdebtclock.org/
User Comments
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Whoa! That's dizzying page! But a great representation of how bad off this country is. Thanks Ronald, George, and George for the Republican National Debt!-
sat, Yes the those guys kick-up the National Debt, but old Berry has surpassed all of them... So you really need to get a few new dogs to kick.
www.youtube.com/watch?v=P5yxFtTwDcc -
Good video AmmoBob. Really sets it out there for everyone to see. -
As I have pointed out before--though I don't support anyone running up the debt--The key difference between Bush's budget and Obama's is that Obama has tried to include the full expenditures of the perpetual war, whereas Bush did not. -
That video is a pretty simple-minded explanation of the debt.
What is reason for the exploding deficits? Five things: the cost of the wars now being included in the budget (as Agit8r pointed out), the recession that Obama inherited, the bailout of the financial sector (that began under the Bush administration), the economic stimulus package, and the tax cuts.
The bailouts and the stimulus package are responses to the economic disaster Obama inherited, and most economists agree that they were necessary. Some of the bailout money in the form of loans will be recovered as the economy recovers. The tax cuts were just a gimmick for Obama to get elected and should be rolled back along with Bush's tax cuts. -
I think you might go a little too far in stating most economists agree with the plan. I would agree that economists who aligned themselves in political thought would agree with the plan. Do you think we will receive all equitable value we originally placed into GM? -
No. The execs at GM are clueless. A lot of the jobs eliminated here in the U.S. will never come back, but instead will be created in countries like China where they can use cheap labor. The cars will merely be assembled here with parts made overseas.
GM was betting the farm on their plug-in hybrid, but Toyota is beating them to the punch, and in all likelihood, a better product. -
Do you think GM had the technology but sat on it? I often wonder, maybe their concern was market oriented, but it is sad.
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The mraket... UAW... who knows?!
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Do you think GM had the technology but sat on it? I often wonder, maybe their concern was market oriented, but it is sad.
No, GM designed a new plug-in hybrid vehicle from the ground up while Toyota took an existing model and modified it.
The main impediment for plug-in hybrids at this time is battery technology. The batteries are huge and expensive. GM designed its vehicle around a specially designed "T" shaped battery, which in all likelihood will be obsolete in a few years. Toyota is using off the shelf batteries. -
As one of the lawyers for the GM execs said, Why are you asking me questions about the future of GM? Ask the White House.
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Have they had to add another column AGAIN?!
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CAFE standards and other government intrusion into the car business, along with the crazy demands made upon U.S. auto companies by the unions have been the biggest factors to the troubles that American car companies have been facing. I know everyone says that Toyota, Nissan, etc... don't have the same problems being competitive. But then they also don't have 50+ years of the unions bringing stiffer and stiffer demands on them, either. They also don't have the same amount of pensioners to be responsible for. So it isn't that the car execs are "clueless," it is that the government has been telling them how to do business. If they had no CAFE standards to meet, or at the very least more realistic ones, then the market would dictate what types of vehicles sold the best. And anyone with half a brain knows that what GM has "pinned their hopes on" wasn't one single car. Their bread and butter has been SUVs. The SUVs give the greatest return on their investment in that there is the most profit margin in the sale of them.
By including the costs of the wars in his budget, it gives Obama a "fall guy" to help disguise his insane spending. Seems it is a theme with Liberals that A. since Bush increased the buget and B. since he (Obama) is "spending the money on things we need" that Obama can do no wrong. Funny, but had McCain gotten into the WH and proposed a budget even half as big as Obama's I have a feeling the left would be going crazy. The same old, "well the Republicans don't have an alternative budget" and they "just want tax cuts alone" are the mantra from the left. Not only is this wrongheaded thinking, but it is straight from the far-left talking points.
"Deficits. The budget achieves lower deficits than the Obama/Democratic budget in every year, and by 2019 yields half the deficit proposed in the President’s budget.
Debt Held by the Public. By reducing deficits, the budget controls government debt. Debt held by the public is $875 billion lower than the President’s budget in fiscal year 2010, and $3.6 trillion lower at the end of the 10-year period.
Taxes. The budget does not raise taxes.
- It permanently extends the 2001/2003 tax relief provisions and the Alternative Minimum Tax “patch.”
- It offers taxpayers the option of paying their income taxes through a simplified code with just two brackets and a generous standard deduction and personal exemption.
- It also reduces the corporate tax to 25 percent from the current 35 percent, second-highest in the industrialized world. Finally, the budget holds the average tax burden to the historical average of about 18.3 percent of gross domestic product.
The long-term plan of the budget aims at spending and revenue trends consistent with the post-war average tax level of roughly 18.3 percent of gross domestic product."
www.house.gov/budget_republicans/press/2007/pr20090401_gopbudget.pdf -
GM built the debt clock??
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No, they just made the debt clock run better.
Or was that a commercial I remember? *shrugs* -
they've made it run faster
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More on this...
loaninsurance.free2step.com -
The argument against the US stimulus package is steeped in pessimisim and political schadenfreude.
If you don't think that the economy will ever get back into growth then maybe you can say that tax payers will have to shoulder the full cost of the bailout in the future.
However in reality there are already signs that the world economy is starting to recover after the credit crunch correction. This means that US taxpayers stand to get money back from the banks and industries that they have bailed out as they return to profitability.
The UK has a stimulus package similar to that of the US. One of the major UK banks that the UK Government bailed out is already on the verge of paying back around £2billion to the UK Government (and hence UK taxpayers). The UK is the first example of a government starting to recoup it's bail out package but we can expect this to start happening in other countries soon. -
We don't want to be like the UK. You do remember that we broke away from them a while back.
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Within the scope of this particular discussion regarding national debt the US is almost exactly like the UK.
The US has a stimulus package funded by US taxpayers which will be paid back to US taxpayers as the economy recovers.
The UK has a stimulus package funded by UK taxpayers which will be paid back to UK taxpayers as the economy recovers.
If you would like to discuss why you think that the US does not want to be like the UK you might consider starting a new discussion on the topic.
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