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Author Topic: George Bush has cut the national debit in half  (Read 1211 times)

Offline Gh0stFT

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George Bush has cut the national debit in half
« Reply #15 on: October 05, 2007, 11:05:13 AM »
see germany, still export nation nr.1
a strong € is not allways a warm welcome.

But i suggest to invest in € to be on the safe side ;)
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Offline Holden McGroin

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George Bush has cut the national debit in half
« Reply #16 on: October 05, 2007, 11:10:43 AM »
Quote
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.


When you borrow a million, the bank owns you.  When you borrow a billion, you own the bank. -- Donald Trump
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Offline SkyRock

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George Bush has cut the national debit in half
« Reply #17 on: October 05, 2007, 12:24:58 PM »
Quote
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?

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.



Reagan   share rose 275%
1st Bush  share rose 60%
Clinton   share rose 15%
2nd Bush  share rose 40%

hmmm:eek:
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Triton28 - "...his stats suggest he has a healthy combination of suck and sissy!"

Offline crockett

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George Bush has cut the national debit in half
« Reply #18 on: October 05, 2007, 12:47:17 PM »
Quote
Originally posted by Holden McGroin
When you borrow a million, the bank owns you.  When you borrow a billion, you own the bank. -- Donald Trump


Well, I guess that's one way to look at it. I wonder if there are any banks, I could take out a loan to own. :D
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Offline Mickey1992

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George Bush has cut the national debit in half
« Reply #19 on: October 05, 2007, 12:51:27 PM »
Quote
Originally posted by Holden McGroin
When you borrow a million, the bank owns you.  When you borrow a billion, you own the bank. -- Donald Trump


Except when the bank is China.
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Offline Holden McGroin

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George Bush has cut the national debit in half
« Reply #20 on: October 05, 2007, 01:22:21 PM »
So you are saying China wants to bankrupt the USA so that they do not have any return on investment...

damn commies just don't understand the capitalistic system.
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Offline Mickey1992

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George Bush has cut the national debit in half
« Reply #21 on: October 05, 2007, 01:49:21 PM »
Quote
Originally posted by Holden McGroin
So you are saying China wants to bankrupt the USA so that they do not have any return on investment...


No, I am saying that even though we have borrowed over a trillion dollars from China ("the bank"), we still do not own the bank.  As the value of the dollar continues to drop internationally our debt becomes a less attractive investment.
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Offline Holden McGroin

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George Bush has cut the national debit in half
« Reply #22 on: October 05, 2007, 02:08:16 PM »
Quote
Originally posted by Mickey1992
As the value of the dollar continues to drop internationally our debt becomes a less attractive investment.


Hence as the dollar approaches zero we owe zero...  as the initiator of the thread lamented.
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Offline lazs2

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George Bush has cut the national debit in half
« Reply #23 on: October 05, 2007, 02:24:53 PM »
skyrock... you are not reading it correctly... even with gutting the military... under klinton our share of debt was slightly higher than second bush... less than first bush... the real large amounts were under democrats... but... they all do it.

lazs
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Offline 2bighorn

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George Bush has cut the national debit in half
« Reply #24 on: October 05, 2007, 02:27:36 PM »
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Originally posted by Holden McGroin
Hence as the dollar approaches zero we owe zero...
Uhmm no, in that case we get hyperinflation and forced to trade and borrow in another currency.
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Offline Shamus

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George Bush has cut the national debit in half
« Reply #25 on: October 05, 2007, 02:35:10 PM »
Quote
Originally posted by Holden McGroin
Hence as the dollar approaches zero we owe zero...  as the initiator of the thread lamented.


Yup thats true, and we will not be able to borrow in dollar denominated assets at that point.

Now seeing as we have such a huge trade deficit, we have no assets in the currency that the rest of the world will accept.

One thing to keep in mind is that unlike borrowing other folks money from a bank, we are borrowing our own money from china.

If Trump were  trying to borrow his own money from a bank he never would have made that ridiculous statement.

shamus
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Offline Holden McGroin

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George Bush has cut the national debit in half
« Reply #26 on: October 05, 2007, 02:37:10 PM »
Quote
Originally posted by Shamus
Now seeing as we have such a huge trade deficit, we have no assets in the currency that the rest of the world will accept.


And since we have no assets to trade, the trade deficit approaches zero.  Whether we like it or not.
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Offline Shamus

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George Bush has cut the national debit in half
« Reply #27 on: October 05, 2007, 02:39:39 PM »
Quote
Originally posted by Holden McGroin
And since we have no assets to trade, the trade deficit approaches zero.  Whether we like it or not.


We often refer to that as bankruptcy.

shamus
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Offline morfiend

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George Bush has cut the national debit in half
« Reply #28 on: October 05, 2007, 02:39:57 PM »
2 Bighorn......
 check ur PM's
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Offline Holden McGroin

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George Bush has cut the national debit in half
« Reply #29 on: October 05, 2007, 03:17:50 PM »
Quote
Originally posted by Shamus
We often refer to that as bankruptcy.

shamus


The trade deficit can be helped with a weak dollar.  Ask Boeing.

(I am just seeing a silver lining to the dark clouds)
« Last Edit: October 05, 2007, 03:20:36 PM by Holden McGroin »
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