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Where is the USA - Debt -

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  • Center Left
    Independent
    Central, FL
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    This list has the top ten countries in debt versus their GDP. I wonder where the USA is on the over all list. Must be that our GDP is huge because we all sure know that our debt is huge.

    http://www.youtube.com/watch?v=BIdD-31otWQ
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    The debt isn't the problem. The reason for the debt is. And the reason for the debt is that we gave away millions of manufacturing jobs at the same time the baby boomer bubble was rising. The dumbest thing a nation has done since Rome hired mercs.
  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    GemsWoven Wrote: The debt isn't the problem. The reason for the debt is. And the reason for the debt is that we gave away millions of manufacturing jobs at the same time the baby boomer bubble was rising. The dumbest thing a nation has done since Rome hired mercs.
    Well stated, Gems. We can fight out the number for days on end, but recognizing the reason we are so in debt is of utmost importance. Our governmental policies for the past 50-60 plus years is utterly unsustainable and so skewed toward the wealthy that it's laughable. It is just a smoke screen when you really take a deep look at it. The Federal Reserve, aka America's private banking cartel, loans banks money at zero percent interest rates that then turn around and sell it back to our Government plus interest. If that doesn't make you want to pull your hair out, I don't know what will.

    I'm still waiting for America's next Andrew Jackson. I'm waiting for someone that will take on the powerful moneyed interests in our society and tell them that it's the people's government and not theirs. I'm beginning to wonder if that will ever happen.
  • Strongly Liberal Democrat
    Democrat
    Dallas, TX
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    Government deficit=non government surplus.

    Every major recession/depression has preceded periods of government surpluses. What was different during the Bush II years was the large current account deficit, which the government deficit proved too small to offset, due to the additional revenues from all the fraudulent lending which hyperinflated the housing bubble.

    The Federal Reserve does not lend money to banks to lend to us. Banks are capital and regulatory constrained. Reserve balances are like clearing balances used as the final form of payment in the banking system for transactions involving deposits created by loans. Reserves are lent to private banks at cost near 0%.

    The district banks are privately owned by member banks. They are like co-op regional banks of banks. All they do is clear the checks, fund research, provide info, etc. They are also supposed to make criminal referals on member bank's illegal activities, so there's an obvious conflict of interest.

    The Federal Reserve Board is, however, a government agency, albeit independent.

    I've been writing about all this at the D-Hub for nearly 3 years.
  • Independent
    Ft.myers, FL
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    Carlitos Wrote: Government deficit=non government surplus.

    Every major recession/depression has preceded periods of government surpluses. What was different during the Bush II years was the large current account deficit, which the government deficit proved too small to offset, due to the additional revenues from all the fraudulent lending which hyperinflated the housing bubble.

    The Federal Reserve does not lend money to banks to lend to us. Banks are capital and regulatory constrained. Reserve balances are like clearing balances used as the final form of payment in the banking system for transactions involving deposits created by loans. Reserves are lent to private banks at cost near 0%.

    The district banks are privately owned by member banks. They are like co-op regional banks of banks. All they do is clear the checks, fund research, provide info, etc. They are also supposed to make criminal referals on member bank's illegal activities, so there's an obvious conflict of interest.

    The Federal Reserve Board is, however, a government agency, albeit independent.

    I've been writing about all this at the D-Hub for nearly 3 years.
    B.B. I like your persistence, however Washington goes their own way; the latest is Obama wants to tax us like crazy while keep spending on defense like crazy; so in other words we (the normal folks) loose on all sides; sorry to say this country goes to hell if we stay on this path.
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    "Us"? I ain't no fortunate son. :) Speak for thy fortunate self.
  • Independent
    Ft.myers, FL
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    GemsWoven Wrote: "Us"? I ain't no fortunate son. :) Speak for thy fortunate self.
    I guess you got the wrong impression; with "us" I mean you and "me"; do you really think that only the rich will get taxed? Keep on dreaming.
    Your social benefits will be reduced and limited als other services which you may need will be taxed higher; doctors and hospitals will charge more etc etc. So I wonder do you think I'm rich? forget it!! I have a pension that's all.