U.S. National Debt Approaches $17 Trillion

[pbrauer]

Next you'll tell me it was by percentage of gdp.

Inflation.......hmmmm.....so you're telling me the almost 17 trillion dollars of national debt are all adjusted for inflation???

No, it's just that today's dollars aren't worth what the the same as they used to be. The further you go back in time the more a dollar is worth. Picture what you pay for a car or house in the 1980s compared to today.

 

[Fenton]

LOL

Zero-down mortgage initiative by Bush is hit - The Boston Globe

By Chris Reidy, Globe Staff | October 5, 2004


President Bush's weekend campaign promise that he will push legislation allowing for no money down on some federally insured mortgages could cost taxpayers as much as $500 million over four years because of a higher rate of defaults, according to the Congressional Budget Office.


The election-year idea may appeal to those who can't save as fast as home prices are rising. But some financial planners warn that increasingly common no- and low-down-payment programs can be ruinous for some consumers -- especially if home values decline.


If housing prices fall, consumers with little or no money of their own invested in the home are more vulnerable to ending up with mortgages larger than the value of the house.
​

LOL !!

More low information analysis of the Sub Prime Collapse .

Bush's "affordable housing" initiative was through the FHA.

Much higher standards than Fannie and Freddie and much lower quantity of loans purchased.

Why don't you post for us the percentage of FHA loans that were first turned into toxic securities and second went into default.

Go ahead. What percentage of FHA loans were part of the massive 5 TRILLION in low quality loans bought up by Fannie and Freddie ?

Quit embarassing yourself, you don't know what your'e talking about.

 

[American]

so none.

If you don't want to pay the obligation don't complain there is an outstanding obligation.

That's right, I didn't support all the spending. However if we spend less, we can put more revenue toward debt. See how that works?

 

[Jack Hays]

No, it's just that today's dollars aren't worth what the the same as they used to be. The further you go back in time the more a dollar is worth. Picture what you pay for a car or house in the 1980s compared to today.

So the older debt is worth less. Inflation is the debtor's friend.:2wave:

 

[pbrauer]

LOL !!

More low information analysis of the Sub Prime Collapse .

Bush's "affordable housing" initiative was through the FHA.

Much higher standards than Fannie and Freddie and much lower quantity of loans purchased.

Why don't you post for us the percentage of FHA loans that were first turned into toxic securities and second went into default.

Go ahead. What percentage of FHA loans were part of the massive 5 TRILLION in low quality loans bought up by Fannie and Freddie ?

Quit embarassing yourself, you don't know what your'e talking about.

Here you go Fenton skip to the 4:22 mark in the following video.

 

[dirtpoorchris]

We need to stop the fed reserve from just playign with intrest rates and stop this infinite credit bull****.


http://en.wikipedia.org/wiki/Trillion_dollar_coin

The trillion dollar coin is a concept that emerged during the United States debt-ceiling crisis in 2011, as a proposed way to bypass any necessity for the United States Congress to raise the country's borrowing limit, through the minting of very high value platinum coins. The concept gained more mainstream attention by late 2012 during the debates over the United States fiscal cliff negotiations and renewed debt-ceiling discussions. After reaching the headlines during the week of January 7, 2013, use of the trillion dollar coin concept was ultimately rejected by the Federal Reserve and the Treasury.[1] Five days later, Senate Minority Whip John Cornyn (R-Texas) announced that Senate Republicans would end their threat to block an increase in the debt ceiling.[2]

 

[274ina]

And only the rich can pay that debt since they have all the income in USA.

TIme to tax the rich 80% untill its all paid.

I am sure they can live on a "meager" $20 mil a year from your average $100 mill CEO income.