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This topic has moved here: Subject: How is America ever going to lose its debt?
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Subject: How is America ever going to lose its debt?
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Posted by: ultratog1028
We're too occupied with happiness NOW, instead of insuring happiness LATER.


Because the incentive structure isn't there.

When savings accounts are yielding 0.15%, CDs are yielding 1%, stocks/bonds being volatile and capital gains taxed, but inflation is plugging along at a reported 2.5% (higher if you include food/energy not in the CPI), what incentive is there to save? A dollar in your pocket today is worth less tomorrow. It makes sense to spend when low-risk savings vehicles don't yield more than inflation. You'd be stupid not to spend it if you're poor/middle class, which is most everyone.

And that is intentional Federal Reserve policy. Consumption now boosts GDP now - at a time when GDP is struggling.

[Edited on 11.27.2012 12:11 PM PST]

  • 11.27.2012 12:10 PM PDT


Posted by: Statefarm98

Posted by: Binman59

Posted by: Bryanesie

Posted by: Binman59

Posted by: Nannerpus


Also, you'll notice he said "we say no". Then they attack us.


No he didn't. He said "When China asks for its money back, well say no,then we go to war"
The implication was that once we had said no, China would then declare war on us. Not us attacking because they asked for their money back.


Surely they'd just UN the -blam!- out of you.


Who runs the UN?

CONSPIRACY!


Oh right yeah "every country in the world believes America should hand the Internet over to the UN"
"no"
"ok"

  • 11.27.2012 12:11 PM PDT

Revenant

  • 11.27.2012 12:12 PM PDT
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I'm not so good with advice...Can I interest you in a sarcastic comment?


Posted by: Player3Th0mas1
Revenant


Fix'd.

  • 11.27.2012 12:15 PM PDT

Posted by: Changsta inc
Racism isn't wrong if it's funny.

LOL I don't even have to fight my own battles.

success.gif

  • 11.27.2012 12:15 PM PDT

stop paying people who entertain the stupid millions upon millions of dollars. either that or tax the -blam!- out of those who could stand to lose a few pounds of green.

  • 11.27.2012 12:16 PM PDT
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Posted by: EnragedAUSTIN11
stop paying people who entertain the stupid millions upon millions of dollars. either that or tax the -blam!- out of those who could stand to lose a few pounds of green.

In the next month or so you'll see the fiscal cliff come up and you'll see a grand bargain between Republicans/Democrats where Republicans will allow Bush tax cuts to expire on those making $250,000 or more in exchange for cuts to entitlement spending. You'll see some tax loopholes like carried interest change.

Defense spending will once again dodge the bullet.

/A Good Troll prediction

  • 11.27.2012 12:21 PM PDT
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We just won't pay up when the day of reckoning comes. What's the world goona do, start a war?

  • 11.27.2012 12:22 PM PDT

ooga booga boooh

I can't see America getting out of this one any time soon. I just...can't.

©

  • 11.27.2012 12:24 PM PDT
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Posted by: nightspark
We just won't pay up when the day of reckoning comes.
You realize we pay interest payments on our debt every day, right?

  • 11.27.2012 12:27 PM PDT

In excess of $15 trillion and increasing by a significant quantity every day? No, that national debt will not be paid off by "conventional means" so to speak.

As to those typical warmongering, overly-patriotic Americans on here who are saying that "we'll flatten China lol" - please, be serious and stop making yourselves look like fools.

  • 11.27.2012 12:28 PM PDT

Country: United States.
State: Pennsylvania.
County: Warren.
I graduated from high school on June-11-2011. I'm 19 right now. I'm turning 20 in December. I like playing video games, and board games. I like reading Sci-Fi, and World War II novels, and what not.

"There is nothing better in the world than being better at a video game than someone else....oh wait"

Posted by: Lolmenade

Posted by: Binman59

Posted by: Bryanesie
Don't worry when China asks for their money back we'll say no, go to war, win, and then not have to pay back anything.


LOL how will murica beat china?

With our lives...

But China has more lives than us.

  • 11.27.2012 12:30 PM PDT

Nahman Jayden, Eff bee eye. I herd that you're the origammy killah...

War. It's how we got out of the great depression.

  • 11.27.2012 12:30 PM PDT


Posted by: VitalHalofreak
War. It's how we got out of the great depression.


Not much would get out of a potential World War 3, though. It's just not worth even thinking about unintentionally provoking another world war - nobody would win, there would be no benefits to anybody. And I hope that the politicians, militarists and our so-called "world leaders" realise this when we inevitably reach a point where a world war becomes increasingly likely again; however, seeing how utterly inept they seem to be, I don't hold out much hope.

Us scientists should be in charge if you ask me - we're trained to be logical, rational and disciplined.

  • 11.27.2012 12:36 PM PDT

Haters are going to hate.
Praisers are going to praise.

The Bungie Forums are what keeps my mind sharp and my fingers active, between writing my own movie scripts, drawing, and studying industrial design. At the moment I'm working on miniatures for a short movie that I'll hopefully be able to film once I've saved up for a camera... That's me, with the mug, trying to have a conversation with Konoko.

Posted by: ultratog1028
Posted by: the real Janaka
The people who live there can stop relying on loans and credit, and vote with their wallet for a sustainable lifestyle?

It's not simple, but at least that's a start.
Unfortunatly, most Americans don't see the bigger picture. Most are fine living a cookie cutter life that our society has set as an image. Why think for yourself, when conforming is so much easier? We're lazy. We're selfish. We're too occupied with happiness NOW, instead of insuring happiness LATER.
That's why turning the education pyramid upside-down is a good idea; spend more money on enlightening the youth. It'll help them become interested in pursuing a higher education too.

  • 11.27.2012 12:37 PM PDT

Two options:

1: The government starts adopting libertarian policies.

2: We default on the debt.

  • 11.27.2012 12:40 PM PDT

Dating Age

For those looking to vent, get proper advice, or give it to those in need.


Posted by: jacob crawford
I can't see America getting out of this one any time soon. I just...can't.

©

They won't nor do they have to. Every country has debt. It's not a bad thing. Government is it's own beast. It's not a firm or a household.

  • 11.27.2012 12:41 PM PDT
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Posted by: VitalHalofreak
War. It's how we got out of the great depression.

Myth. Living standards fell during the war due to price controls and rationing. GDP growth was driven by burgeoning war debt that is in no way equatable to private market growth. Private GDP was lower during the war than it was during the Depression.

  • 11.27.2012 12:42 PM PDT

Posted by: Duardo
Not really. Your mom is over quite enough to make my fears mute.
Posted by: colbyrules8
Posted by: Duardo
Being alone.
You're a mod, you should be used to that.

Posted by: Bryanesie
Don't worry when China asks for their money back we'll say no, go to war, win, and then not have to pay back anything.
We really don't owe that much money to China, of course it seems like a lot when you look at the number, but compared to our overall debt, we owe China a minute amount.

Most people believe that we owe China over ten trillion dollars, it is around 3-4 trillion (I believe).

[Edited on 11.27.2012 12:52 PM PST]

  • 11.27.2012 12:51 PM PDT


Posted by: DeclinedA1
Two options:

1: The government starts adopting libertarian policies.

2: We default on the debt.
HAHAHAHAHAHAHAHAHA
You had me going there for a second. 6/10

  • 11.27.2012 12:52 PM PDT
  •  | 
  • Exalted Legendary Member

The who wishes, fervently wishes

1) We don't have any enormous debt to china proportionally, most of it is within the country itself.

2) You liquefy debt with a nation upon declaring war with it. If there is ever a future war between us, all debt will be void.

  • 11.27.2012 12:52 PM PDT


Posted by: Wyzilla
2) You liquefy debt with a nation upon declaring war with it. If there is ever a future war between us, all debt will be void.


What is it with all you bloody warmongers?

  • 11.27.2012 12:54 PM PDT
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  • Exalted Legendary Member

The who wishes, fervently wishes


Posted by: BerzerkCommando
Posted by: Lolmenade

Posted by: Binman59

Posted by: Bryanesie
Don't worry when China asks for their money back we'll say no, go to war, win, and then not have to pay back anything.


LOL how will murica beat china?

With our lives...

But China has more lives than us.

Except they lack a comportment navy to invade us. We'd lose some good ships, but we'd sink their navy and eventually destroy their air force. It'd end up being a very bloody war though, with mass bombings, massive casualties on both sides, and numerous civilian deaths on the Chinese side. We'd win, but it'd be a hollow victory.

  • 11.27.2012 12:54 PM PDT

I r guy who gun to teach u lesson


Posted by: Wyzilla
1) We don't have any enormous debt to china proportionally, most of it is within the country itself.

2) You liquefy debt with a nation upon declaring war with it. If there is ever a future war between us, all debt will be void.


I've got a crazy idea. Why don't we have every country in the world declare war on every other country in the world. A little bit after, everyone will declare peace.

BAM! No more debt! Perfect logic right there.

  • 11.27.2012 12:55 PM PDT

Posted by: Duardo
Not really. Your mom is over quite enough to make my fears mute.
Posted by: colbyrules8
Posted by: Duardo
Being alone.
You're a mod, you should be used to that.


Posted by: Binman59

Posted by: Bryanesie
Don't worry when China asks for their money back we'll say no, go to war, win, and then not have to pay back anything.


LOL how will murica beat china?
Are you ignorant enough to think that the US would lose in a war against China? Especially when they declare war, voiding out debt, all we have to do is sit back and watch them try to float their POS navy over to us and , bye bye Chinese military.

  • 11.27.2012 12:57 PM PDT

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