Beating you in a debate is easier then beating bash..
Beating you in a debate is easier then beating bash..
Originally posted by Newjak
Also I have to ask why do you keep using Obi-Wan as insult in this thread?
it's the only piece of personal info he has on you, so he's going to keep repeating it to try to frighten you into silence. same with the way he threatens to post robtard's name and has an obsession with my pets.
Originally posted by Time-ImmemorialWow so we are going from government debt to private debt?
Beating you in a debate is easier then beating bash..
Yes our individual debt is silly and needs to be dealt with. Primarily student loan debt as it is the largest source of debt to those in in their younger stages.
But don't pretend that debt and the national debt are the same thing.
Originally posted by Time-ImmemorialYou keep throwing it around like a threat or insult. I even asked what you meant by it. So please explain?
Is Obiwan a threat?
"A new report by the Congressional Budget Office predicts the nation’s debt and deficit will continue to grow over the next decade.
The Congressional Budget Office (CBO) report, “Budget and Economic Outlook: 2015 to 2025,” projects a brief slowdown in the rate of growth of the national debt over the next three years, followed by a continuation of previous deficit trends, with the annual federal deficit increasing by approximately 148 percent per year over the next 10 years.
By 2025 the federal deficit will exceed $1.088 trillion, or roughly $8,369 per U.S. household, CBO projects. In Fiscal Year 2014, the federal deficit was $483 billion, or about $4,192 per household.
Spending More and More
Increased subsidization of health care is a primary cause of the upcoming debt growth, Heritage Foundation budget expert Romina Boccia says.
“The major health care programs—Medicare, Medicaid, the Children’s Health Insurance Program, and Obamacare—are driving 32 percent of the increase in spending over the next decade, followed closely by the Social Security program at 28 percent, and interest on the debt at 24 percent,” she said.
‘A Spending Problem’
Raising taxes to compensate for the ballooning debt would only make problems worse, Boccia says.
“Tax increases take resources from the American people and place them in the hands of bureaucrats. The country has a spending problem, not a deficit problem,” she said.
Without major entitlement reform, she says, the problem will continue to balloon until it explodes.
“Without reforms, spending on interest on the debt, health care programs, and Social Security will reach unsustainable levels,” she said. “As a result, these spending levels will cause exploding deficits, even as tax revenues exceed their average historical level.”
Anthony Randazzo, director of economic research at the Reason Foundation, also identifies health care spending as the cause of the nation’s looming debt and deficit problems.
“CBO is projecting the ‘average exchange subsidy per subsidized enrollee’ will nearly double over the next decade,” Randazzo said.
Questions Report’s Assumptions
However, Randazzo notes, economic forecasts are only as good as the assumptions behind the models.
“For instance, their model has the drop in oil prices as a negative for the U.S. economy, where I would estimate that it winds up being a net positive,” he said. “On the other hand, they have unemployment falling while labor market participation is similarly declining over the next decade, which I would interpret as creating an increase in underemployment, and thus adding downward pressure to economic growth.”
Originally posted by Newjak
Wow so we are going from government debt to private debt?Yes our individual debt is silly and needs to be dealt with. Primarily student loan debt as it is the largest source of debt to those in in their younger stages.
But don't pretend that debt and the national debt are the same thing.
You keep throwing it around like a threat or insult. I even asked what you meant by it. So please explain?
You misread the article..
Each American's Share of the Public Debt Is Skyrocketing
As Washington continues spending well beyond its means, it is burdening Americans with increasing levels of debt. Congress must cut spending to fix the debt.
Cause you keep trying to do a jedi mind trick, won't work.
Literally the most unbias article I could find.
Look at this, another debt ceiling looming..
http://dailycaller.com/2015/11/03/the-oh-so-familiar-debt-ceiling-dance/
Let's see the heartland article only mentions that the debt is rising and that most of that cost is coming from healthcare. The only time in the article it mentions anything about this being a major problem or that it is skyrocketing comes from two people representing conservative think tanks like the Heritage Foundation. Good job.
Originally posted by Time-ImmemorialAn article about other countries debts.
Literally the most unbias article I could find.
Originally posted by Time-ImmemorialAn article on the debt ceiling now and raising it.
Look at this, another debt ceiling looming..http://dailycaller.com/2015/11/03/the-oh-so-familiar-debt-ceiling-dance/
You really are bouncing all over the place on this.
Originally posted by Bashar Teg
it's the only piece of personal info he has on you, so he's going to keep repeating it to try to frighten you into silence. same with the way he threatens to post robtard's name and has an obsession with my pets.
Exactly this, Newjack. Good thing I've posted my name in here before, else I'd be in some serious trouble or something. Basher's pets are probably ****ed though.
Originally posted by Time-ImmemorialIt was going up fast at one point now it is going up moderately.
OK so why do they keep raining the debt ceiling if the debt is not out of control?If you want to say that me saying skyrocketing is fear mongering so be it, but it is going up very fast.
It's less of a concern but still one I agree. It's not like it is going to kill us though. We still have a overall strong economy. We still have one that is growing. Our deficits have been reduced greatly compared to 10 years ago.
We have also weathered worse ones in our countries history. Especially around WW1 and WW2.
Pretending that the end is nigh because of skyrocketing debt is the fear mongering. We are not getting taken down anytime soon. We do need to reduce more private debt among citizens to help give them higher personal power in the economy.
Also every major country in the world operates at a deficit currently.
EDIT:
I meant every country currently operates with external debt not a deficit.
Originally posted by Newjak
It was going up fast at one point now it is going up moderately.It's less of a concern but still one I agree. It's not like it is going to kill us though. We still have a overall strong economy. We still have one that is growing. Our deficits have been reduced greatly compared to 10 years ago.
We have also weathered worse ones in our countries history. Especially around WW1 and WW2.
Pretending that the end is nigh because of skyrocketing debt is the fear mongering. We are not getting taken down anytime soon. We do need to reduce more private debt among citizens to help give them higher personal power in the economy.
Also every major country in the world operates at a deficit currently.
Our debt to income ratio is out of wack, we are at what 3-4 trillion a year in GDP and our debt is at 20 trillion.
The debt is out of wack because our trade deals stink, our taxes are not proportionate and we give out to much free stuff and waste $500 million on things like syria.
Just because every other country does it, doesn't make it ok.
Also we have the stinking federal reserve.
Originally posted by Time-ImmemorialI somewhat agree. It is not as dire as you think and missteps with government are going to happen.
Our debt to income ratio is out of wack, we are at what 3-4 trillion a year in GDP and our debt is at 20 trillion.The debt is out of wack because our trade deals stink, our taxes are not proportionate and we give out to much free stuff and waste $500 million on things like syria.
Just because every other country does it, doesn't make it ok.
Also we have the stinking federal reserve.
Honestly the biggest booster to our debt in the recent decades as been the Second Gulf War.
But I ado agree that we need to a better job of giving our individual citizen more power to help stimulate the economy. The only thing is I don't think it happens by cutting government programs I think it happens by actually giving our citizens less personal debt and better wages to live on.
When I bring up other countries I'm simply pointing out that debt in and of itself is manageable. Lending and borrowing is constantly happening.
Take a look our these interest rates, we have been operating at a 0% for son long, and still the economy has not recovered the way we thought, can you imagine when the fed hikes the rates? We know it will happen, they cant just keep giving free money out.
Also private citizens can't make interest on their own money because of that, so now they have risk their hard earned money on risky investments in the stock market. This is where most people stick their 401k and Roth IRA. Even gold and silver. All of this will be affected greatly once they hike rates.
Also we have to cut out this astronomical waste in spending, just a few things I have posted over the past few days show this is a norm of how the government spends our money. We can't afford to keep making these mistakes.