George Bush has cut the national debit in half

[crockett]

I was wrong all this time.. It seems George Bush did have a master plan and  has one upped Bill Clinton, he  has cut our national debit in half.

All we have to do is pay our debit in Euros...

Hell at the rate it's going now, we can likely cut it in half using Canadian dollars in the next 6 months. Tip.. buy Pecos now because they will likely be worth more than the USD, by the time we are done with George..




Thanks for ruining my country's future George, and to think I always thought he'd end up being a lame duck president..

[RTR]

Ahhh, thats okay...we Canadians will still luv ya, but it'll cost you a buck and a half for a loonies worth.

RTR

[ROC]

Oh I just Love posts like this

Ok, let's do some math.

Poor Bush, that Evil Evil man.

http://www.lewrockwell.com/orig7/darby1.html

Here is a link to a summary of the national debt.  Now, most will look at the huge debt, and will wet themselves over how large an amount "we" owe, but typically don't understand how vast the US Wealth is.  Imagine, if you will, You having a 100K per year job, you own a 3/4 million dollar home, Paid For, and your total Debt is perhaps a 1k credit card.  Are you really that concerned about it?  Can you comprehend just how Wealthy this nation is?

Even the site I Linked is slanted to "prove" just how bad off we are, and from Their Own Biased Views I give you, This

Let's look Historically at not the Dollar Figures, but the Percentages, if you would.  Do the math, I used excel to figure the percentages.

Evil Bush has us at 0.004%  That's our "share" of the debt.

Clinton had us at 0.005%

Bush Senior, Spawner of the Evil Bush had us at 0.006%

Reagan, while working with the rest of the free nation to diffuse communism, had us way up at 0.009%!  Now, think about this, 0.009% That's 9K against 1 Million Dollars.  Stuff a Mil in a bank and you can make 9k by lunch for crying out loud.

Ok, let's get serious.  

Carter 0.022%  Uh Oh, that's 22K, now, in the late 70s, that was alot of cash.  22k Then was a whole lot harder to get than 22k now, and quite a bit different than 9k, would you agree?

Let's continue.

Ford 0.031%

Nixon 0.043%

Johnson 0.055%

Kennedy! GASP 0.061%

Eisenhower 0.062%

Truman 0.058%

Roosevelt 0.054%

Hoover 0.557% <-- Careful, watch the decimal point! That's a biggie

Coolige 0.719% WOWZA

Harding 0.501%

Wilson 0.453%

Taft 3.334%  Yep, sure was a small number, $30.00 per year, but that's a Huge Chuck of personal income.

Roosevelt 3.428%

McKinley 3.630%


Yanno, if you pay attention to soundbites, you are going to get an ulcer.

The Current Administration, And Equally Commendable the Previous few Administrations Regardless of Party, have gotten you off the hook Individually for a Far Far Smaller share of the national debt than Ever Before.

Now, before you criticize any president, I dare you to tell me YOUR Personal Debt is even Remotely Close to this current percentage.  

Come on guys, the soundbites are designed to get you riled up, Think this stuff through for crying out loud.  Tell those idiots in the newsrooms to stuff it and quit feeding you Drivel.  Demand the Facts and then burn a few brain cells and figure out the truth.

Don't rely on the media to spoon feed you what they want you to think.

[crockett]

ROC you ignore the biggest factor that is the cause of the real issue. No other president in the history of this country has depended on outside financing of our debit like this administration has.


In short  Japan, China and a few others now own this country.

[ROC]

But as the national economy grows, doesn't it make sense to tie up Their resources instead of ours?

If you found a car you wanted, for 20k, and had the option of taking your Own Cash and paying for it, or Investing that cash in an IRA at 6% then taking out a loan at the Bank of India for 4.2%, would that be prudent?

Are you Sure the nation is Dependant on that outsourced money? Are you sure it isn't simply an investment?  

China is growing by leaps and bounds, they need cash to do this, they are Going to make cash one way or another, might it be a good idea to use and tie up some of it, leaving less for other competing nations to use?

There might be more to this than you are considering.

I can tell you for a Fact, that Japan got the raw end of the huge influx of capital they stuffed into the US market in the mid 90s. Japan and China don't have nearly the resources to "own" this country.  They might invest, as this nation is investing world wide, but they don't own squat in comparison to the national wealth.

[2bighorn]

Originally posted by ROC
Oh I just Love posts like this

Ok, let's do some math.

Poor Bush, that Evil Evil man.

http://www.lewrockwell.com/orig7/darby1.html

Here is a link to a summary of the national debt.  Now, most will look at the huge debt, and will wet themselves over how large an amount "we" owe, but typically don't understand how vast the US Wealth is.  Imagine, if you will, You having a 100K per year job, you own a 3/4 million dollar home, Paid For, and your total Debt is perhaps a 1k credit card.  Are you really that concerned about it?  Can you comprehend just how Wealthy this nation is?

Median household income: $48,201
Median household debt: $18,654
Average mortgage debt per household: $167,000

[crockett]

Yes, but you have to look at the big picture. Right now European companies can come in and buy out US owned companies and it cost's them 50% of what it costs a US company on the global market.

Then if you turn it around and talk about US companies trying to expand in say Europe. It cost our companies 50% more on the global market than their competitors in Europe.

This kind of stuff is not good for the long term aspects and future growth of our economy. Sure here in the US it has very little affect on our day to day lives, but in the future that will start to change if things keep going like they are.

Remember we are now a nation of consumers rather than producers like we were 50 years ago. It will eventually start costing us more to do that consuming..

[Thrawn]

Buy yuan.

[Thrawn]

Originally posted by ROC
China is growing by leaps and bounds, they need cash to do this, they are Going to make cash one way or another, might it be a good idea to use and tie up some of it, leaving less for other competing nations to use?

What are you talking about.  China and Japan use their own currencies.

I can tell you for a Fact, that Japan got the raw end of the huge influx of capital they stuffed into the US market in the mid 90s. Japan and China don't have nearly the resources to "own" this country.  They might invest, as this nation is investing world wide, but they don't own squat in comparison to the national wealth.

They own enough US promissory notes to sink it's economy and bankrupt the US federal government.  They  have bought something better than resources, they have bought power.

[crockett]

Originally posted by Thrawn
They own enough US promissory notes to sink it's economy and bankrupt the US federal government.  They  have bought something better than resources, they have bought power.

Exactlly the point I was getting at..

[Ripsnort]

How I envision  crockett posting on the AH BBS OT:

[john9001]

the sky is falling, sky is falling ...AAAAHHHHHH

[Mickey1992]

All you have to do is listen to David Walker from the GAO office to realize that if the federal government does not change the way it does things, we are going to be in a world of hurt as we get closer to 2030.

http://www.gao.gov/cghome/d061084cg.pdf

[Getback]

ROC,

Excellent argument.

When you brought up the sound bites of the media it reminded me of what my Professor told our class a couple of semesters ago. "There's 3 groups of people you shouldn't believe; the Republicans, the Democrats, or the Media.

[crockett]

Originally posted by Mickey1992
All you have to do is listen to David Walker from the GAO office to realize that if the federal government does not change the way it does things, we are going to be in a world of hurt as we get closer to 2030.

http://www.gao.gov/cghome/d061084cg.pdf

Watch out, the forum's "so called" conservatives will claim it's all just liberals trying to make money selling books.