U.S. Treasury predicts debt to rise to $20 trillion by 2015

[cubby1223]

http://www.reuters.com/article/idUSTRE65765820100608

*sigh*

While I realize Obama inherited a very bad economy in need of repair, no way he was left with a $10 trillion repair job...

This cannot be good for anyone.

 

[nonlnear]

If they're already preparing expectations for the $20T ballpark, that means about $25T-$30T right?

 

[tincart]

Won't somebody please think of the children!?

 

[woodie1]

Hope we don't run out of paper and ink.

 

[highland145]

Won't somebody please think of the children!?

It's great grand children, now.:'(

 

[Genx87]

20,30, 40 trillion?

"Deficits dont matter"

-Darth Cheney

 

[piasabird]

I predict if the debt level gets to 20 trillion our bond credit rating will slip and then a loan will be almost impossible. When you have to pay 100% of your pay just to pay the debt then things become a little difficult. Get ready for Bread Lines.

How bad will things get before the people revolt and have a new revolution?

I wonder how long before China collects on its debt?

America is almost in default now. Hope you like getting a 40% tax rate???

 

[highland145]

I predict if the debt level gets to 20 trillion our bond credit rating will slip and then a loan will be almost impossible. When you have to pay 100% of your pay just to pay the debt then things become a little difficult. Get ready for Bread Lines.

How bad will things get before the people revolt and have a new revolution?

I wonder how long before China collects on its debt?

America is almost in default now. Hope you like getting a 40% tax rate???

Sad when the US of A doesn't qualify for a loan with me.:\

 

[Slew Foot]

My tax rate is already at 40+%. (state +fed)

 

[Patranus]

My tax rate is already at 40+%. (state +fed)

Racist.

 

[Genx87]

Racist.

Shut your blackhole!

 

[Throckmorton]

My tax rate is already at 40+%. (state +fed)

My total tax rate is something like 30%.... I make $37k so I'm in the tax bracket that Republicans claim pays no taxes. Boy I wish I lived in the America the rightwing perceives where rich people pay all the taxes and everyone else is lazy and sleeps in hammocks all day.

 

[highland145]

My total tax rate is something like 30%.... I make $37k so I'm in the tax bracket that Republicans claim pays no taxes. Boy I wish I lived in the America the rightwing perceives where rich people pay all the taxes and everyone else is lazy and sleeps in hammocks all day.

Babies, gots to have da babies. Then you can be da babies daddy. Then you can get da E.I.C.
e. n. t.

 

[Darwin333]

My total tax rate is something like 30%.... I make $37k so I'm in the tax bracket that Republicans claim pays no taxes. Boy I wish I lived in the America the rightwing perceives where rich people pay all the taxes and everyone else is lazy and sleeps in hammocks all day.

Unless you have some crazy high state/local taxes, whoever is preparing your taxes is doing it wrong. It is damn near amusing how low I got my "taxable income" this year. Hell, I even got a tax deduction simply for having a job!

 

[bfdd]

My tax rate is already at 40+%. (state +fed)

At one point mine was 48% state + fed. 40% at that time would of been AMAZING

 

[BlahBlahYouToo]

My total tax rate is something like 30%.... I make $37k so I'm in the tax bracket that Republicans claim pays no taxes. Boy I wish I lived in the America the rightwing perceives where rich people pay all the taxes and everyone else is lazy and sleeps in hammocks all day.

 

[Danube]

Won't somebody please think of the children!?

They are - Mexico's

 

[CycloWizard]

I predict if the debt level gets to 20 trillion our bond credit rating will slip and then a loan will be almost impossible. When you have to pay 100% of your pay just to pay the debt then things become a little difficult. Get ready for Bread Lines.

How bad will things get before the people revolt and have a new revolution?

I wonder how long before China collects on its debt?

America is almost in default now. Hope you like getting a 40% tax rate???

40%? Even at a 100% tax rate we would just barely be able to pay off the current debt.

 

[soccerballtux]

we'll be there at 2013, in my opinion.

 

[Patranus]

we'll be there at 2013, in my opinion.

Well we all know that the "progressives" are going to trot out another trillion dollar boondoggle....I mean "stimulus".....I mean American Reinvestment Act.

 

[soccerballtux]

40%? Even at a 100% tax rate we would just barely be able to pay off the current debt.

if we paid off all our debt, there would be no more cash. As a matter of fact, we would not be able to pay off our debt. We would pay as much off as we could, all money would cease to exist, and we would still have debt that we are obligated to pay off.

Because interest is an exponential function....

 

[soccerballtux]

Well we all know that the "progressives" are going to trot out another trillion dollar boondoggle....I mean "stimulus".....I mean American Reinvestment Act.

doesn't really bother me. Everyone is headed down into the ground, economically speaking. I'm just exceedingly thankful to God that I 1). live in America 2). have a job 3). have a fun, brand new looking car to drive right now, and it only cost me $7k.

We'll still be a lot better off than most.

 

[DucatiMonster696]

My total tax rate is something like 30%.... I make $37k so I'm in the tax bracket that Republicans claim pays no taxes. Boy I wish I lived in the America the rightwing perceives where rich people pay all the taxes and everyone else is lazy and sleeps in hammocks all day.

and you are also in the tax bracket that Democrats say is not paying "their fair share".

 

[rudder]

As long as I get my obamacare brand anti-depressants... I do not care.

 

[XZeroII]

I predict if the debt level gets to 20 trillion our bond credit rating will slip and then a loan will be almost impossible. When you have to pay 100% of your pay just to pay the debt then things become a little difficult. Get ready for Bread Lines.

How bad will things get before the people revolt and have a new revolution?

I wonder how long before China collects on its debt?

America is almost in default now. Hope you like getting a 40% tax rate???

How is America almost in default now? That has to be one of the stupidest things I've ever heard. We have a AAA credit rating. Even if that slips to AA, that is still a great rating. What possible reason could you even dream of that would indicate that we are almost bankrupt?