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Federal debt tops $13 trillion mark GOP sounds 'alarm' on red ink

Jetboogieman

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You know, your debt is a massive problem, but it is not entirely the democrats fault... it's both sides fault, both sides have been in power, both sides spent rediculous amounts of money over the past 20 years and both sides deserve blame.

And before anyone starts mouthing off about the stimilus package, sometimes you gotta spend money to make money champ ;)
 

Deuce

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You know, your debt is a massive problem, but it is not entirely the democrats fault... it's both sides fault, both sides have been in power, both sides spent rediculous amounts of money over the past 20 years and both sides deserve blame.

And before anyone starts mouthing off about the stimilus package, sometimes you gotta spend money to make money champ ;)
This is accurate. BOTH parties make vague promises about fiscal responsibility during election season, and nobody has ever managed to actually accomplish it.
 

ScottD

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Link
Federal debt tops $13 trillion mark - Washington Times

I suppose the Chinese are very happy to advance this amount of money, but what happens when they realize that payback is a bitch?
Considering that all of the foreign countries combined only carry 25% of our debt (25% more of that being held by our Citizens, and the other 50% being held by the Federal Reserve), I don't think China really has that much of our money in the big picture.

Also there are 40+ countries that have worse debt then us (when compared to GDP) and most of them are doing fine.

Edit: China isn't even the foreign country with the most US debt being held, Japan is actually our biggest foreign bank.
 
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jking948

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We need to fix our debt ASAP. I feel some inflation coming on, followed by even more inflation and then unemployment if nothing is done to fix this.
 

Jucon

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I love how the Republicans in this article are pointing the finger squarely at the Democrats.

Politics, anyone?
 

Jetboogieman

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I love how the Republicans in this article are pointing the finger squarely at the Democrats.

Politics, anyone?
Nah, I joined Debatepolitics to talk about Cheeto's all day :)
 

jujuman13

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I love how the Republicans in this article are pointing the finger squarely at the Democrats.

Politics, anyone?
I really would strongly advise you to get your peepers tested, I cannot see where any of the posters in this thread have actually directly blamed just the Democrats.
 

ScottD

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We need to fix our debt ASAP. I feel some inflation coming on, followed by even more inflation and then unemployment if nothing is done to fix this.
I see inflation coming soon too, but not due to the debt.

(More has to do with the employement numbers. Capitalism may be nice, but it has one fall back. Any actual Capitalist nation has either a problem with unemployement or a problem with inflation. A good economy leads to inflation, and a bad one to unemployement. Yeah, Economics is so great...we're screwed.)
 

ScottD

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I really would strongly advise you to get your peepers tested, I cannot see where any of the posters in this thread have actually directly blamed just the Democrats.
He said in the article, not this thread.
 

Jucon

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I really would strongly advise you to get your peepers tested, I cannot see where any of the posters in this thread have actually directly blamed just the Democrats.
I said article, not thread.

"A $13 trillion debt is an alarm bell and a wake-up call combined, but Democrats are not even trying to pass a budget," said House Minority Leader John A. Boehner, Ohio Republican. "How out of touch can Washington Democrats get? Instead of continuing to pay lip service to this issue, President Obama should call on congressional Democrats to pass a budget that provides the fiscal discipline economists say is needed to create jobs and grow our economy."
And $6 trillion wasn't an alarm bell? How about $8 trillion? No?... apparently $13 trillion is the magic number when the alarm bells start going off and people start "waking up"...
 
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