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More on the National debt

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ricksfolly

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We're told by politicians that the rising National Debt will be a burden on our children. Not so. Government debt and has nothing to do with with the people, no matter how much it rises. There might be a trickle down effect, but only on government contractors.

Proving once again that politicians can't be trusted, especially when it's about economics.

ricksfolly
 
ricksfolly said:
We're told by politicians that the rising National Debt will be a burden on our children. Not so. Government debt and has nothing to do with with the people, no matter how much it rises. There might be a trickle down effect, but only on government contractors.

Proving once again that politicians can't be trusted, especially when it's about economics.

ricksfolly
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Sounds like your saying that none, zero, nada, zip of our tax dollars, and none of the tax dollars of our children or grandchildren, will go to help pay the interest on our national debt. Do I have that right?
 
oldreliable67 said:
Sounds like your saying that none, zero, nada, zip of our tax dollars, and none of the tax dollars of our children or grandchildren, will go to help pay the interest on our national debt. Do I have that right?
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I think he's saying that we should have the govt hire contractors to carry the national debt around, (with heavy equipment most likely), so that our descendants won't have to get bad backs and stuff from bearing the burden themselves.
It's really a brilliant and, in hindsight, an obvious solution. I surprised no one has thought of it before.
He does express concern that some of the debt might leak and trickle down on our descendants, but it will only get on the ones who might be working as govt contractors.
 
oldreliable67 said:
Sounds like your saying that none, zero, nada, zip of our tax dollars, and none of the tax dollars of our children or grandchildren, will go to help pay the interest on our national debt. Do I have that right?
Click to expand...

Only on the interest, nothing on the principal.

To put it in perspective... Interest paid on the National debt in 2010 was 11.5 percent of the budget total outlay, in 1998 it was 22 percent.

ricksfolly
 
ricksfolly said:
Only on the interest, nothing on the principal.

To put it in perspective... Interest paid on the National debt in 2010 was 11.5 percent of the budget total outlay, in 1998 it was 22 percent.

ricksfolly
Click to expand...

There are liars, there are damn liars and there are statisticians.

How about re-focusing your perspective. What was the percentage of interest paid in 2010 based off of 1998 outlays?
 
ricksfolly said:
Only on the interest, nothing on the principal.

To put it in perspective... Interest paid on the National debt in 2010 was 11.5 percent of the budget total outlay, in 1998 it was 22 percent.

ricksfolly
Click to expand...

Somewhere, somehow, someone will have to begin repaying the principal. It may be many years, given the Obama budget and CBO projections of our deficit, but eventually someone will have to pay.
 
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