Our National Debt

[Pepipony]

Ready for this? TEN TRILLION in debt. Thats a 1 , followed by 13 zeros or $10,000,000,000,000. We just had a record spending month of $250 BILLION. This Administration has stated over and over that they are fiscally responsible and are following the budget. ( wonder how they can follow a budget that isnt balanced anyhow?) How many households can run up a deficit year after year and not really tighten the belt drastically or just file bancruptcy?

T E N T R I L L I O N D O L L A R S !!!!!!!!!!!!!!!!!!!!!! $10,000,000,000,000. And with 3 years left on his term and the rate that debt is climbing, $15 TRILLION isnt far off the mark.

Well at least he's Christian!

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[CLC Stables]

Um he didn't get to the 10 Trillion all on his own........................3/4 if not more of that debt WAS ALREADY THERE.................This isn't a Bush to Blame thing.

I want to know who started it, when they decided that borrowing from NOTHING gives you something.

 

[Jill]

Um he didn't get to the 10 Trillion all on his own........................3/4 if not more of that debt WAS ALREADY THERE.................This isn't a Bush to Blame thing...

That's very true, Rob!

 

[Bluerocket]

I could be wrong here -

but if I recall correctly -- and my memory COULD be faulty

Clinton not only BALANCED the budget - there was a budget SURPLUS prior to Bush's taking over the presidency.

Granted - 9/11 has posed some buget problems -- but that is not all of the 10 trillion dollars.

 

[CharmedMinis]

Bluerocket is correct!!! When Clinton's term was over we had a surplus, NO deficit!

Makes you wonder when the next great depression will start

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[CLC Stables]

Okay think farther folks. The surplus (which I think was only for one year) doesn't negate the debt at all. This is TOTAL DEBT. And Clinton didn't put the entire National Debt into the past...............OH NO WAS THERE THE ENTIRE TERM, and STILL IS.

 

[runamuk]

Ready for this? TEN TRILLION in debt. Thats a 1 , followed by 13 zeros or $10,000,000,000,000. We just had a record spending month of $250 BILLION. This Administration has stated over and over that they are fiscally responsible and are following the budget. ( wonder how they can follow a budget that isnt balanced anyhow?) How many households can run up a deficit year after year and not really tighten the belt drastically or just file bancruptcy?

T E N T R I L L I O N D O L L A R S !!!!!!!!!!!!!!!!!!!!!! $10,000,000,000,000. And with 3 years left on his term and the rate that debt is climbing, $15 TRILLION isnt far off the mark.

Well at least he's Christian!

:

:new_rofl: :new_rofl: :new_rofl: :new_rofl:

I am sorry but if that ain't broke I do not know what is..........

so anyone here want to loan me money backed by nothing I'll even take alot less how about only a million that ought to work........

No bancruptcy...remember they just changed the laws :nono:

and my opinion is there isn't a budget if you can make imaginary money appear at the drop of a hat......

what a lovely inheritance we are leaving our children

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[Pepipony]

Ahhh lets get some facts straight here people. Bush started with a SURPLUS, he even stated so years ago. Clinton worked mostly with a a BALANCED budget. Bush does not. his administration works on a credit basis. We owe MORE money to more countries than ever in our past. And lets not forget the nearly 9% of america that the Saudis owe nor the Trillions dollars that they have tied up here.

Cracks me up that people would blame Clinton for everything but then turn right around and make excuses for Bush.

Yes, what a lovely legacy we are setting up. 9/11 didnt cost enough to give us this debt, neither did Iraq ( even though Iraq cost more in 1 year than Bush' cohorts would cost in 5) Its the fact that to 'prove' how well the country is going there are no reins on the wallet. So of course everything will look good when you are maxing out the 'cards' so to speak.

CLC, so then Clinton was able to make those payments to the term, but what Bush cant/isnt? I follow what you are stating and understand, the balance of a loan may have been still out, but for Clinton to have left with a surplus and Bush run up a 10 trillion dollar debt, gotta admit something BUSH is doing is causing this or is it still Clintons fault?

 

[minimule]

Ahh yes, but remember....Clinton was good at "working with the books"

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[Pepipony]

LOL thats FUNNY!!!!! Its amazing that Clinton did everything wrong and was responsible for everything. yet Bush is doing everything right and is responsible for nothing?

How books are kept ISNT done by the President. That fact in and of itself is wrong. But if it helps you to sleep at night, knowing that the President and his cohorts are running us into the ground, to blame a past President, go for it!

Some facts, Regan ran up the debt to record highs. Bush Sr comes in and tries his hardest to work within the limits he set of 'Read my lips, NO new taxes' , finds he cant so then Clinton comes in ( I liked Bush Sr, so its not a Dem vs Rep thing w/me) he gets the budget balanced, gets us into a surplus and then Jr comes in. And in 5 years we have not only used up the surplus but ran a 10 Trillion dollar debt. Those are facts, they arent playing with numbers its what is truly happening.

 

[jayne]

OK, unfortunately, we are comparing apples to oranges.

I have a budget for my household. A budget surplus is when I don't spend all that I am planning to spend. A budget deficit is when I spend more than I have budgeted to spend.

I have debt. My mortgage mostly, but work with me here. If I have a budget surplus, then I have (theoretically) more money available to help pay down my debt. If I have a budget deficit, then I obviously don't have enough money to cover all my expenses and therefore increase my debt.

According to the above, Reagan spent more than was budgeted so the debt got bigger. Clinton, on the other hand, kept spending within budgetary limits and even had a surplus. (I'm not sure if this translated to a reduction in our national debt or not.) Now Bush, after 9/11, has had some expenses that we obviously didn't expect. So now we have a budget deficit, or are spending more than we budgeted to spend. So again our national debt is increasing. Don't forget to factor in the enormous influence of interest added to already existing debt. Not fair to blame any current sitting president for the portion that existed when he took office.

I'm saying this in the most non-partisan way possible so that we can be sure to compare apples to apples!

Jayne

 

[Pepipony]

The Fed doesnt change how it tabulates Surplus/deficit with different administrations. Pre Bush, surplus and balanced budget. Bush, no balanced budget and $10 trillion deficit. Loans etc are one thing, unbridled spending is quite another.

 

[shminifancier]

Bluerocket is correct!!! When Clinton's term was over we had a surplus, NO deficit!

Makes you wonder when the next great depression will start

:

Well if we do I am Ready~!! I just Paid OFF ALL credit cards and ALL bills that accrue interest even a hospital bill even though it was not interest baring I am 100% Out Of Debt.. NO Savings left :no: But I also have NO bills to pay either so I can start Saving again :new_shocked: No bills other then what normally is rent, electric, insurance, satellite etc. Food you know the basic stuff

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[Pepipony]

Shmini good for you! Not many people can , or will, do that congrats!

 

[shminifancier]

Shmini good for you! Not many people can , or will, do that congrats!

Thank You..

Being on SS Dis. I really didn't want any "extra" ones to pay. Although I have no savings now but I can safe up for the next 12 years before a Added Insurance policy will quit paying in addition to SS Dis. So I will just have to save everything I can possibly do until that time. I took what was left of my 401 and Made it Work harder by paying off those high interest credit cards. Now what I was paying on them I will just have to stick away now till I reach 67 when at that time I will only be on SS at about 1300 a month. I should be fine I can just put this insurance monies I get Above SS away and go from there and at over 600 a month from that Insurance company I am sure I can safe some in the next 12 yrs. And now I just found out that I got approved for 30K Life Insurance policy that is Now Paid up because I am on Disability So that will get me in the ground and a stone. So that was good news. And this Fall I will get on Medicare so that will save me a Bunch of money so that will also help So I am doing just fine now even though my knees are really bothering these days as these storms are coming in. And it is hard to walk for any length of time.

 

[Triggy&Blue&Daisy Too]

Ahh yes, but remember....Clinton was good at "working with the books"

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Yes Minimule at least there are a few who get it. And the Clinton balance budget thing was a total crock of you know what. And no he wasn't responsible for it, it's cumulative

: but most people will never see the bigger picture and just want to blame. The blame rests entirely on our backs and until we ALL start taking responsibility for this country and STOP whining about it, it can only get worse. If if that's possible

:.

 

[CLC Stables]

Okay Pepi.......................the books are not done by the President so quit BLAMING BUSH..................this is a collaborative thing. The House, The Senate, The Cabinet and the President............so Clinton gets NO credit, and BUSH gets no blame..................

Blame the Government, BI PARTISAN.

I am making NO excuses for BUSH, OR CLINTON. But did Clinton deal with an attack on our country to deal with?

In my opinion, a surplus will only truly happen when the National Debt is gone, so why worry, it never will be.

 

[Pepipony]

I do blame the Government, HOWEVER, the President garners 90% of that blame. It used to be 'the buck stops here' but now Bush isnt ever responsible for anything, there is always some scape goat to hang.

This is why i feel that there should never, ever, be a majority rule, right now the Republicans are the majority and things are way wrong.

Power corrupts, absolute power corrupts absolutely.<<< thats Washington now. CIA leaks, Wire Taps, unbridled spending, paying off oil companies w/record profits. Rediculous.

I ask this. 9/11, Gore is heading to a photo op, he is told, Mr Prez, a plane just hit one of the Twin towers. he goes to photo op, is told some time later, Mr Prez, another plane hit the other tower. He sits. He waits, he sits some more. Then finally decides oh wow, I am the Prez, better get off my butt and see what is going on. You would be happy? More irony. They knew it was Al Queda and Bin Laden and at that time the Saudi Royal family along w/some Bin Ladens were in Washington. Bush oked them to leave while everyone else was grounded. So if Gore or Clinton or Kerry did this, no Republican would be griping? They would all be just happy as little ol clams? Bi Partisan my patooookie. Parties are rediculous, no one party can be everything. When they are, people start making excuses for them that they wouldnt tolerate otherwise.