National Debt exceeds $12,000,000,000,000.00

[Doc Savage Fan]

lol.

Looks like jonks may get his debt AND 15-20% unemployment. How nice.

 

[boomerang]

This will be resolved by a total collapse of our economy. $12T in debt is not the sum of our problems, we have last I heard, in excess of $150T in unfunded liabilities.

Politicians don't want to face the music, the people don't want to face the music. The people don't want to willfully make major changes in their lifestyle and no politician is going to commit political suicide by proposing it.

The economy will eventually collapse. The silver lining is that we'll take the rest of the world down with us, or we'll all go down together. How you term it is dependent on your viewpoint. There will be a global currency, and global leadership. Countries will cease to exist as sovereign nations, we'll all be under control of a central, world government. Each nation will have a leader in name only, but he or she will answer to a higher power. Who that power will be I don't know. There is a very real possibility of true global wars being fought to decide that. There's a very good chance that they will be fought along religious lines.

There is hope for it to shake down differently, but the chances of that being pulled off are very, very slim IMO.

Extrapolate our current situation out to it's logical conclusion. Take into account history and how long it took us to get where we are. It took our nation over 200 years to reach $6T in debt in 2002. It took us 7 years to double that. It doesn't take a genius to realize that this spending is not just unsustainable, but that it's accelerated at a pace that most would not have thought possible.

We're very close to collapse right now. By all means continue the partisan bickering. It's meaningless right along with health care reform, TARP, bailouts, cap and trade, all the issues of the moment. Survival will be the challenge of the next decade. You'll be surrendering freedoms at a pace that will make your head spin.

Edit: A glimmer of hope. Obama, after his sojourn to China, said for the first time that I can recall, that all this debt may be a bad thing. One can take an educated guess that the Chinese government gave him a stern talking to explaining that the well is running dry. If the funding is cut off, spending should start coming under control. But ...... the printing presses can still keep printing more money. Like I said, a glimmer.

 

[Darwin333]

This will be resolved by a total collapse of our economy. $12T in debt is not the sum of our problems, we have last I heard, in excess of $150T in unfunded liabilities.

Politicians don't want to face the music, the people don't want to face the music. The people don't want to willfully make major changes in their lifestyle and no politician is going to commit political suicide by proposing it.

The economy will eventually collapse. The silver lining is that we'll take the rest of the world down with us, or we'll all go down together. How you term it is dependent on your viewpoint. There will be a global currency, and global leadership. Countries will cease to exist as sovereign nations, we'll all be under control of a central, world government. Each nation will have a leader in name only, but he or she will answer to a higher power. Who that power will be I don't know. There is a very real possibility of true global wars being fought to decide that. There's a very good chance that they will be fought along religious lines.

There is hope for it to shake down differently, but the chances of that being pulled off are very, very slim IMO.

Extrapolate our current situation out to it's logical conclusion. Take into account history and how long it took us to get where we are. It took our nation over 200 years to reach $6T in debt in 2002. It took us 7 years to double that. It doesn't take a genius to realize that this spending is not just unsustainable, but that it's accelerated at a pace that most would not have thought possible.

We're very close to collapse right now. By all means continue the partisan bickering. It's meaningless right along with health care reform, TARP, bailouts, cap and trade, all the issues of the moment. Survival will be the challenge of the next decade. You'll be surrendering freedoms at a pace that will make your head spin.

Edit: A glimmer of hope. Obama, after his sojourn to China, said for the first time that I can recall, that all this debt may be a bad thing. One can take an educated guess that the Chinese government gave him a stern talking to explaining that the well is running dry. If the funding is cut off, spending should start coming under control. But ...... the printing presses can still keep printing more money. Like I said, a glimmer.

Well said. I am not sure that I buy the whole one world government thing but history has shown that we can expect large wars as a result of economic collapse so I guess its possible. At one point I would have never believed that Americans would put up with even a "global Fed" much less a global government, but if they can somehow keep the "free" coming I am not so sure anymore.

One thing I am damn sure of, our current lifestyle is simply unsustainable and I doubt we are going to voluntarily change it. No one gets elected by telling people they are going to get less free when the other guy is offering more. I do find it amusing to see people arguing that the government should provide more "free stuff" when we can't afford the stuff we have currently promised to people. All you are doing is accelerating the date when the government can't provide you with a damn thing.

At least we can rest assured that we will be entertained by the partisan hacks pointing fingers at each other as to whose fault it is they are hungry. The ironic part is both Bush and Obama have allowed and are currently allowing mobsters to rob all of you blind. Obama and the Dems could stop half of this crap by making a few phone calls and legislate the other half with ease. What do they do instead? They ensure the banksters who robbed and extorted us get their fat ass bonuses via legislation and then pretend to be pissed. While the Reps love to gloat on the above fact, they seem to conveniently forget about Bush and Paulson's role in all of this.