DEBT, debt & More debt !

[HLS]

Looking at this debt clock fascinates me although
I’m not sure why
http://www.usdebtclock.org/

Maybe it’s just seeing that every taxpayer has over $1 million of liability based on the unfunded liabilities of the govt and reading that

“The Government does not have any money, it does nothing to earn money.

Government takes money from you and borrows more (from your children), then spends that! The bailouts of 2008 and 2009 are purely deficit spending.

Expect to see enormous deficits in the future, leading to much more debt. Interest payments on that growing debt will become the largest item in the federal budget”

[FlyerInHi]

So what?

Money is just a way to facilitate commerce. We should not expect money itself be to an investment vehicle that will hold value.

The arbiter keeps score and assigns points. Money works in a similar way.

BTW, our children have no money. The government borrows money from savers.

[The-Shoveler]

I don’t worry about the Fed Debt, I worry about local municipalities and state debt (they can’t print their way out).

No one is going to pay this back (well at least not in today’s dollars).

Deflation will not be a long lasting thing, the local municipalities can’t afford it.

[FlyerInHi]

Couldn’t Congress just pass a bill to grant large sums of money to states and municipalities?

[The-Shoveler]

Too obvious, maybe they will just increase wage inflation from the bottom up 🙂

Still waiting for the trillion dollar coin.

[scaredyclassic]

[quote=FlyerInHi]So what?

Money is just a way to facilitate commerce. We should not expect money itself be to an investment vehicle that will hold value.

The arbiter keeps score and assigns points. Money works in a similar way.

BTW, our children have no money. The government borrows money from savers.[/quote]

If you held quarters or dimes from 1963 or before u actually made a good return. A dime is worth 1.50

[spdrun]

You lost a zero somewhere — I’m getting $56k per citizen, call it $100k per taxpayer.

[FlyerInHi]

Think of interest on the debt as transfer payments from the government to savers. That could be good in constraining discretionary government spending.

[an]

[quote=The-Shoveler]Too obvious, maybe they will just increase wage inflation from the bottom up 🙂

Still waiting for the trillion dollar coin.[/quote]
Like I said before, I fully support raising the minimum wage to a living wage. I would also support it if they propose to raise it to $20/hr. I welcome wage inflation.

[spdrun]

I support raising my wage. I don’t support raising the competition’s wages.

[carlsbadworker]

[quote=spdrun]You lost a zero somewhere — I’m getting $56k per citizen, call it $100k per taxpayer.[/quote]

I believe he is adding medicare and social security liability as well, which can be evaporated with a change of the law.

[The-Shoveler]

The largest population group in the USA just turned 22

Most likely the debt will be evaporated first.

Also it’s more a ocean/boat thing.

[carlsbadworker]

I guess scaredy can chime in, but I feel the biggest liability in life is kids. But then again, on balance sheet, we bring no money into the world and take no money off to the heaven as well.

[scaredyclassic]

No children cause you to try to make more money than you otherwise would.

[FlyerInHi]

[quote=scaredyclassic]No children cause you to try to make more money than you otherwise would.[/quote]

So children are assets, not liabilities. We should reproduce more.

[Author]

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