Discussion in 'Fly Fishing Forum' started by Evan Virnoche, Oct 4, 2013.
Pretty funny little video. Thought i would share
This would be funny if it wasn't so true and sad.
But it needed to be said.
While it's true that our budget deficit is too high right now, equating the debt of individuals to nations is erroneous. The key reason is that a federal government can also print its own money to pay the debt (oversimplification, but generally accurate). That works up to a point, though there are macroeconomic triggers that sometimes cause unpleasant side-effects like inflation and high borrowing rates, and there's an argument for the past few years among economists about whether we are near the level of those triggers currently (the stimulus vs. austerity argument).
Anyway, there are statistics about the level of current debt vs. historical. Our accumulated federal debt right now is not massively out of proportion to where it's been over the very long term:
Year ($ billions) as % of GDP
1940 $51 -- 50%
1945 260 -- 122%
1970 381 -- 38%
1980 909 -- 33%
1990 3,206 -- 56%
2000 5,629 -- 57%
2010 13,529 -- 93%
I recall reading once that in our entire nation's history, we've only been debt-free once for 2 years in the 1800's. This is typical of pretty much every nation on earth. Still, I do think the debt is too high and needs to be reversed in a way that doesn't drive us into a new recession/depression.
Was going to say... It's infinitely more complicated than that.
Also, the deficit has actually been going down the last 5yrs.
Yes, the trend is getting better. Personally, I'd rather talk about WHAT the money is being spent on and how effective that spending is. Both parties are wild spenders (the data doesn't support that only Dems are - both do it). They just disagree about what they want to spend waste money on. Each has different special interests in mind when opening the purse strings, and the special interests who help them get elected get the most favorable budget line items. The general national interest is usually second tier.
do we really want to be like Greece or Spain or Italy, etc ?
limited government is always best. Just read what the founders have to say about it. or the Bible. Done !
When lenders and investors begin demanding a larger yield (interest rate) on short and long term U.S. treasury bonds the real budget cuts will begin. What is happening now with the partial government shut-down is an amusing side show to the coming budget storm. Imagine financing a growing $16.75 Trillion deficit when the 10 year U.S. bond rate has jumped from 2.6% to a more historic rate of 7-8%. Political parties and daily polls won't matter. The budget cuts will become sizeable and harsh.
Spain's unemployment just his 26.2%. Sounds lovely to me!
Hmmm......? It was 10.6 trillion in debt at the end of 2008 now we are 16.7 trillion in debt. Oh I forgot about the "cuts"
I don't give two fucks what anyone thinks the reason is. All I know is that I was furloughed and my wife was spared. What does thar mean? It means I sit at home with no money coming in. Worse, it means my wife goes to work for free....no money coming in either.
Everyone has their opinion as to why it is happening. Personally I'm much more concerned with keeping a roof over my family's head.
This is the exact kind of thing that people need to know. While our "news" agencies are busy reporting on people's park vacations cut short, or the WWII memorial (which wasn't actually even shut down), or bickering childish politicians on both sides... People are wondering how they're going to pay for food, their house, their cars, etc. That's the real tragedy here.
Many people don't even pay attention until it hits them directly. All the folks that "don't need health coverage" probably don't - at least until they "do"!!
Shit - I don't need car insurance - until I do!!
That just stinks. No money coming in for you and our representatives to congress want to squabble over "great philosophical differences" BS!!!! just get the government funded.
Sure we have economic issues but the first thing they should think about is how this is impacting families like yours Nick. Sorry your caught in the middle. Even if your wife gets retro-active pay it still will affect you for a long time.
It's a very good thing that I don't have any say. An outfit that can't even come together to fund themselves to stay in business would be immediately fired by me. Blaming anyone specifically is BS. Every person in congress and the house should lose their job - right fucking now! Let's see if the next batch of folks can get something done, and done on time.
Since this is a government of the people I guess it would be okay if some new "people" set up shop in those now unused buildings that each and everyone of us pay for and got things rolling again...
Amen! And the firing should include their boss. If you can't do your job, pack your personal effects and leave; you're done just like any other employee who can't/doesn't do their job. The very first paychecks cut should have been theirs. We have self-perceived "royalty" in government, with different benefits, insurance, retirement, etc.; get rid of those too. Implement the same programs & options that they have deemed appropriate for the folks they "represent."
We need to shut the PACs down and go with term limits
It's a no brainer
Better to remain silent and be thought a fool than to speak and to remove all doubt.
— ABRAHAM LINCOLN.
The debt limit is about paying our bills not about the ability to spend more. A better equivalency would be a man who said " wow I'm way in debt, I'm not going to pay my mortgage to save some money". In a sort period of time he would be out on his ass, which is where we will be in the economic world if we default on our debt.
Take heed of the last sentence, truer words were never spoken.