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Patlal
You ask too many questions



Registered: 10/09/10
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Loc: Ottawa
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The debt ceiling has been reached... again
#18759874 - 08/26/13 02:47 PM (10 years, 5 months ago) |
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Mid October they're saying.
Of course the Democrates and the Republicans can't agree on anything... Again...
I wonder why cause they both know they're gonna have to raise the debt ceiling. The US dollar will lose value, which sucks for everybody.
The only good news is that China owns that majority of the US debt. Since the US will never be able to pay it back, China will lose a shit ton of money. Yay! lol
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This_Guy



Registered: 06/27/13
Posts: 45
Loc: Canada
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Re: The debt ceiling has been reached... again [Re: Patlal] 1
#18759887 - 08/26/13 02:51 PM (10 years, 5 months ago) |
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It's not even real money anyway...
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: The debt ceiling has been reached... again [Re: Patlal]
#18759895 - 08/26/13 02:52 PM (10 years, 5 months ago) |
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Quote:
Patlal said: Mid October they're saying.
Of course the Democrates and the Republicans can't agree on anything... Again...
I wonder why cause they both know they're gonna have to raise the debt ceiling. The US dollar will lose value, which sucks for everybody.
The only good news is that China owns that majority of the US debt. Since the US will never be able to pay it back, China will lose a shit ton of money. Yay! lol
This is why hard assets will always be the best investment! Land income producing property and precious metals will be fantastic stores of wealth no matter what happens to the currency.
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Patlal
You ask too many questions



Registered: 10/09/10
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Re: The debt ceiling has been reached... again [Re: This_Guy]
#18759896 - 08/26/13 02:53 PM (10 years, 5 months ago) |
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Quote:
This_Guy said: It's not even real money anyway...
At this point, I can probably agree. It's so ridiculous that it doesn't seem real anymore
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Patlal
You ask too many questions



Registered: 10/09/10
Posts: 44,797
Loc: Ottawa
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Re: The debt ceiling has been reached... again [Re: Patlal]
#18759904 - 08/26/13 02:55 PM (10 years, 5 months ago) |
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So I was thinking, would it be so bad the US defaulted on their payment for a month or two? We all know it's bound to happen, you can't keep losing a couple trillion a year and expect not to default eventually.
Does anybody know the direct consequences that defaulting on the payment would do?
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: The debt ceiling has been reached... again [Re: Patlal]
#18759909 - 08/26/13 02:57 PM (10 years, 5 months ago) |
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Quote:
Patlal said: So I was thinking, would it be so bad the US defaulted on their payment for a month or two? We all know it's bound to happen, you can't keep losing a couple trillion a year and expect not to default eventually.
Does anybody know the direct consequences that defaulting on the payment would do?
There won't be any defaults the fed will continue to print more currency and devalue the dollar in order to make payments. This will cause inflation and perhaps slow the economy down once again. There is no way out at this point which is why owning tangible physical assets like gold silver and land are the only ways to preserve your wealth.
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russhroom
Plateful of Grateful



Registered: 09/12/11
Posts: 663
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Re: The debt ceiling has been reached... again [Re: This_Guy]
#18759915 - 08/26/13 03:00 PM (10 years, 5 months ago) |
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Quote:
This_Guy said: It's not even real money anyway...
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Patlal
You ask too many questions



Registered: 10/09/10
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Re: The debt ceiling has been reached... again [Re: Gilgamesh18]
#18759921 - 08/26/13 03:01 PM (10 years, 5 months ago) |
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Quote:
Gilgamesh18 said:
Quote:
Patlal said: So I was thinking, would it be so bad the US defaulted on their payment for a month or two? We all know it's bound to happen, you can't keep losing a couple trillion a year and expect not to default eventually.
Does anybody know the direct consequences that defaulting on the payment would do?
There won't be any defaults the fed will continue to print more currency and devalue the dollar in order to make payments. This will cause inflation and perhaps slow the economy down once again. There is no way out at this point which is why owning tangible physical assets like gold silver and land are the only ways to preserve your wealth.
I can't believe taxes haven't been raised all around in the US. Sure it's gonna slow the economy, but its either raise revenue or cut somewhere. Since there's apparently nowhere to cut, the only option is to raise taxes no?
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
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Re: The debt ceiling has been reached... again [Re: Patlal]
#18759932 - 08/26/13 03:04 PM (10 years, 5 months ago) |
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Quote:
Patlal said:
Quote:
Gilgamesh18 said:
Quote:
Patlal said: So I was thinking, would it be so bad the US defaulted on their payment for a month or two? We all know it's bound to happen, you can't keep losing a couple trillion a year and expect not to default eventually.
Does anybody know the direct consequences that defaulting on the payment would do?
There won't be any defaults the fed will continue to print more currency and devalue the dollar in order to make payments. This will cause inflation and perhaps slow the economy down once again. There is no way out at this point which is why owning tangible physical assets like gold silver and land are the only ways to preserve your wealth.
I can't believe taxes haven't been raised all around in the US. Sure it's gonna slow the economy, but its either raise revenue or cut somewhere. Since there's apparently nowhere to cut, the only option is to raise taxes no?
There is trillions to cut its just our spineless leaders don't have the balls to do it. Also raising taxes does not necessarily generate more revenue.
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memes
Blessed



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Re: The debt ceiling has been reached... again [Re: Gilgamesh18]
#18759937 - 08/26/13 03:05 PM (10 years, 5 months ago) |
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i love economics in the pub
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: The debt ceiling has been reached... again [Re: memes]
#18759943 - 08/26/13 03:06 PM (10 years, 5 months ago) |
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Quote:
meams said: i love economics in the pub
If you have a disagreement with my assement meams I would like to hear it?
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memes
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Re: The debt ceiling has been reached... again [Re: Gilgamesh18]
#18759952 - 08/26/13 03:08 PM (10 years, 5 months ago) |
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i wasn't responding to you in particular - you just happened to be the last post, hence it 'responded' to you.
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: The debt ceiling has been reached... again [Re: memes]
#18759956 - 08/26/13 03:09 PM (10 years, 5 months ago) |
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Quote:
meams said: i wasn't responding to you in particular - you just happened to be the last post, hence it 'responded' to you.
Ah indeed
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memes
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Re: The debt ceiling has been reached... again [Re: Gilgamesh18]
#18759964 - 08/26/13 03:10 PM (10 years, 5 months ago) |
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that being said, i disagree with most of what has been said in here, and most of what will be said in here.
how do i know what will be said in here? because i've been debating economics on the shroomery for damn near a decade.
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Mush4Brains
LOOL HACKED!!!

Registered: 07/31/13
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Re: The debt ceiling has been reached... again [Re: Gilgamesh18]
#18759967 - 08/26/13 03:11 PM (10 years, 5 months ago) |
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Quote:
Gilgamesh18 said:
Quote:
meams said: i love economics in the pub
If you have a disagreement with my assement meams I would like to hear it?
I do. I want to know where the "trillions" we can cut are. Specifics, please.
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: The debt ceiling has been reached... again [Re: Mush4Brains]
#18759982 - 08/26/13 03:13 PM (10 years, 5 months ago) |
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Quote:
meams said: that being said, i disagree with most of what has been said in here, and most of what will be said in here.
how do i know what will be said in here? because i've been debating economics on the shroomery for damn near a decade.
Quote:
Mush4Brains said:
Quote:
Gilgamesh18 said:
Quote:
meams said: i love economics in the pub
If you have a disagreement with my assement meams I would like to hear it?
I do. I want to know where the "trillions" we can cut are. Specifics, please.
First and foremost get military spending under control we don't need seven frickin aircraft carriers. Crack down hard on social security fraud and raise the retirement age to 70 to compensate for increased lifespans.
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Mush4Brains
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Re: The debt ceiling has been reached... again [Re: Gilgamesh18]
#18760011 - 08/26/13 03:20 PM (10 years, 5 months ago) |
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Specifics, please. With sources.
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memes
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Re: The debt ceiling has been reached... again [Re: Mush4Brains] 1
#18760034 - 08/26/13 03:24 PM (10 years, 5 months ago) |
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Quote:
Mush4Brains said: Specifics, please. With sources.
stop trolling him. he gave ideas. they're ones that most rational people agree with.
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Niffla



Registered: 06/09/08
Posts: 46,485
Loc: Texas
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Re: The debt ceiling has been reached... again [Re: Mush4Brains] 1
#18760039 - 08/26/13 03:26 PM (10 years, 5 months ago) |
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It's kind of cool that the debt reached the ceiling. While growing up everybody told the debt that he couldn't do it, that he'd never amount to anything. But I'm telling you, this just goes to show that you can do anything when you dream big and reach for the sky.
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HAIL OUR NEW OTD KING
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druqs
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Re: The debt ceiling has been reached... again [Re: Patlal]
#18760045 - 08/26/13 03:28 PM (10 years, 5 months ago) |
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We gotta raise the damn roof!
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Niffla



Registered: 06/09/08
Posts: 46,485
Loc: Texas
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Re: The debt ceiling has been reached... again [Re: druqs]
#18760062 - 08/26/13 03:33 PM (10 years, 5 months ago) |
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Quote:
druqs said: We gotta raise the damn roof!
I'm pretty sure if they just do this right here the roof will raise, right?
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HAIL OUR NEW OTD KING
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druqs
ALKALOIDOHOLIC


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Re: The debt ceiling has been reached... again [Re: Niffla]
#18760076 - 08/26/13 03:36 PM (10 years, 5 months ago) |
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that's exactly how its done, maybe even slightly more exaggerated at the elbows.
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Mush4Brains
LOOL HACKED!!!

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Re: The debt ceiling has been reached... again [Re: memes]
#18760088 - 08/26/13 03:38 PM (10 years, 5 months ago) |
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Quote:
meams said:
Quote:
Mush4Brains said: Specifics, please. With sources.
stop trolling him. he gave ideas. they're ones that most rational people agree with.
So, reduce military spending. Seven aircraft carriers are apparently too much. How much will this save? Is this the only thing in the military he has a problem with? If we were to cut all these military jobs, would these people become unemployed and still be on the federal payroll? Would the private sector step in and start hiring? Where would our tax receipts be laying off many thousands of crewman and other military personnel?
How much fraud is there in Social Security? How much money would raising the age of SS to 70 save? Once the Boomers die off, and SS becomes even more sustainable than it is right now, are we going to revert back to rules that don't make people work until they're 70? So, if the average male only lives until 76, you're asking for them to work for 52 years for six years of Social Security, which isn't even a fabulous retirement plan? Are you going to make women work until they're 75 to collect Social Security since their average life spans are 81 years right now?
When the US is only spending 3.5 trillion, how long will it be before either of these save "trillions" of dollars. Who are the people that are going to be affected? What are the consequences?
It is easy to come up with lip service answers, but this isn't trolling. This is asking someone to provide some evidence to their claim that "[t]here is[sic] trillions to cut its just our spineless leaders don't have the balls to do it."
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Niffla



Registered: 06/09/08
Posts: 46,485
Loc: Texas
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Re: The debt ceiling has been reached... again [Re: druqs]
#18760097 - 08/26/13 03:40 PM (10 years, 5 months ago) |
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Quote:
druqs said: that's exactly how its done, maybe even slightly more exaggerated at the elbows.
So definitely not like this then.
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HAIL OUR NEW OTD KING
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druqs
ALKALOIDOHOLIC


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Re: The debt ceiling has been reached... again [Re: Niffla]
#18760117 - 08/26/13 03:43 PM (10 years, 5 months ago) |
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Quote:
Niffla said:
Quote:
druqs said: that's exactly how its done, maybe even slightly more exaggerated at the elbows.
So definitely not like this then.

why do they wear the garb of the ancient and deadly star-eater cult?
is that a summoning ritual they are performing?
LOOK AT THE MONSTROUS HATE IN THE GIRLS EYES.
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The Doobie Dude


Registered: 04/28/13
Posts: 13,498
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Re: The debt ceiling has been reached... again [Re: Patlal]
#18760142 - 08/26/13 03:46 PM (10 years, 5 months ago) |
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Quote:
Patlal said: So I was thinking, would it be so bad the US defaulted on their payment for a month or two? We all know it's bound to happen, you can't keep losing a couple trillion a year and expect not to default eventually.
Does anybody know the direct consequences that defaulting on the payment would do?
I'm not well versed in this stuff but wouldn't it lower our credit rating I know it dropped from AAA to AA+
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"There are a million reasons to drink and one just popped into my head. If a man can't drink when he's living how the Hell can he drink when he's dead?" - Irish Limerick I PLURed once because it was PLUR or die. - D.M.T.
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memes
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Re: The debt ceiling has been reached... again [Re: Mush4Brains] 1
#18760221 - 08/26/13 03:59 PM (10 years, 5 months ago) |
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Quote:
Mush4Brains said:
It is easy to come up with lip service answers, but this isn't trolling. This is asking someone to provide some evidence to their claim that "[t]here is[sic] trillions to cut its just our spineless leaders don't have the balls to do it."
and it's easy to ask a bunch of horribly specific but ultimately asinine questions to a poster who offered a broad and perfectly viable suggestion. this is the shroomery, and The Pub at that, so we're not expecting Nobel laureate-quality discussion here.
The trillions he was speaking to was likely "trillions from the debt", which would come as a result of an elimination in the long run of our annual deficit, which would be ultimately eliminated if we cropped our (a) overzealous military might, (b) increasingly burdensome entitlement system - specifically medicare, which would be eased by raising the retirement age (which he recommended).
He likely failed to go into such specifics because explaining such nuances to an ultimately uninterested audience yields nothing but a waste of one's own time - as I have just done here explaining it to you
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memes
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Re: The debt ceiling has been reached... again [Re: memes]
#18760231 - 08/26/13 04:01 PM (10 years, 5 months ago) |
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Mush4Brains
LOOL HACKED!!!

Registered: 07/31/13
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Re: The debt ceiling has been reached... again [Re: memes]
#18760296 - 08/26/13 04:16 PM (10 years, 5 months ago) |
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Instead of making cuts, wouldn't it be easier to reduce costs by becoming a healthier nation?
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zappaisgod
horrid asshole


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Re: The debt ceiling has been reached... again [Re: This_Guy]
#18760302 - 08/26/13 04:18 PM (10 years, 5 months ago) |
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Quote:
This_Guy said: It's not even real money anyway...
Can you use it to buy shit?
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: The debt ceiling has been reached... again [Re: Mush4Brains]
#18760304 - 08/26/13 04:18 PM (10 years, 5 months ago) |
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Quote:
Mush4Brains said: Instead of making cuts, wouldn't it be easier to reduce costs by becoming a healthier nation?
Sure that could help but the problem is so severe that cuts need to be made and with the current economic enviroment I don't think tax increases would help either.
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zappaisgod
horrid asshole


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Re: The debt ceiling has been reached... again [Re: Mush4Brains]
#18760322 - 08/26/13 04:21 PM (10 years, 5 months ago) |
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Quote:
Mush4Brains said: Instead of making cuts, wouldn't it be easier to reduce costs by becoming a healthier nation?
And how do you propose doing that? People indulge in unhealthful pleasures. You want to have forced exercise sessions and outlaw certain foods? Education is no answer. People know the shit they are doing is unhealthy and do it anyway.
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memes
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Registered: 01/11/05
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Re: The debt ceiling has been reached... again [Re: zappaisgod] 1
#18760353 - 08/26/13 04:28 PM (10 years, 5 months ago) |
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his name says it all, mush4brains
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Patlal
You ask too many questions



Registered: 10/09/10
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Re: The debt ceiling has been reached... again [Re: zappaisgod]
#18761110 - 08/26/13 07:37 PM (10 years, 5 months ago) |
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Quote:
zappaisgod said:
Quote:
Mush4Brains said: Instead of making cuts, wouldn't it be easier to reduce costs by becoming a healthier nation?
And how do you propose doing that? People indulge in unhealthful pleasures. You want to have forced exercise sessions and outlaw certain foods? Education is no answer. People know the shit they are doing is unhealthy and do it anyway.
In Japan, companes make their employees do exercise during work hours to increase productivity. It works very well. Every nation on earth should it.
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Shroomism
Space Travellin



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Re: The debt ceiling has been reached... again [Re: Patlal]
#18761127 - 08/26/13 07:41 PM (10 years, 5 months ago) |
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They also don't eat shit fast food all the time, they eat super healthy for the most part. Even 7-11 is stocked with healthy food. Also, the quality of food is higher.
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Xingu
Stranger

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Re: The debt ceiling has been reached... again [Re: zappaisgod]
#18761160 - 08/26/13 07:53 PM (10 years, 5 months ago) |
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Quote:
zappaisgod said: And how do you propose doing that? People indulge in unhealthful pleasures. You want to have forced exercise sessions and outlaw certain foods? Education is no answer. People know the shit they are doing is unhealthy and do it anyway.
Some type of incentive, not forced or outlawed. Tax returns only to people with healthy bf%? Suppose that doesn't guarantee mental health, though, nor does it prevent people from doing a bunch of stimulants and not eating to reach that goal. You would be surprised at the things that some people think "aren't that bad" for them. Imo, people just need to quit buying shit far above their means, but I can't see that happening given the state of the banking industry and the Federal Reserve. Turn drugs from an expensive war to a cash cow and kill the Federal Reserve, and we're out of the financial crisis quickly, I'd wager, but I highly doubt anyone in office will ever push for such a "radical" agenda.
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NWlight
Just look


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Re: The debt ceiling has been reached... again [Re: Xingu]
#18761186 - 08/26/13 08:01 PM (10 years, 5 months ago) |
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debt ceiling is an illusion.
it's all about appearances.
the truth is our current way of life is unsustainable and capitalism ignores this basic fact.
the shit WILL Hit the fan.
hopefully the people will be the ones to revolt and it will not require gov't intervention.
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rew736
Your local stranger



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Re: The debt ceiling has been reached... again [Re: Xingu]
#18761204 - 08/26/13 08:03 PM (10 years, 5 months ago) |
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The thing that annoys me is politicians scaring that the world will end if the government isn't funded. The TSA budget is cut--> There will be more lines and people will suffer and planes will crash and people will die!!/s --> It doesn't happen.
People get so scared sometimes they forget that the government is closed on the weekend and every "bank" holiday.
-------------------- My trade list malicom said: "Banana's emit radiation. In fact banannas are the standard in detecting solar radiation. The radiation read from a bananna tells scientists how active the sun was during the growing season. Make sure to steer clear of bananas too." seekaytea said: "I need to stop spending all my money on plants and take up a cheaper hobby, like heroin." Wiccan_Seeker said: "Your knowledge on male-on-male rape and willingness to engage in fantasy regarding the matter is commendable." eminemvs.slimshady said: "I want to know if they are active and magic or not. And if they are not active, can i pick them before they are active and then they will become active or do they have to grow till they activate?"
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Le_Canard
The Duk Abides


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Re: The debt ceiling has been reached... again [Re: memes]
#18761228 - 08/26/13 08:10 PM (10 years, 5 months ago) |
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Quote:
meams said:

Well, actually, that little graphic is rather misleading as both Social Security and Medicare both have cash inflows as well, but I'm sure the Heritage Foundation would love to see both eliminated.
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memes
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Re: The debt ceiling has been reached... again [Re: Le_Canard]
#18761294 - 08/26/13 08:32 PM (10 years, 5 months ago) |
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every statistic fails to capture the whole picture.
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Le_Canard
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Re: The debt ceiling has been reached... again [Re: memes]
#18761301 - 08/26/13 08:34 PM (10 years, 5 months ago) |
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Indeed this is true.
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memes
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Re: The debt ceiling has been reached... again [Re: Le_Canard]
#18761320 - 08/26/13 08:38 PM (10 years, 5 months ago) |
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Quote:
ToiletDuk said: Well, actually, that little graphic is rather misleading as both Social Security and Medicare both have cash inflows as well, but I'm sure the Heritage Foundation would love to see both eliminated.
But, to explicitly state what i had thought to be an obvious and frivolous point, since social security taxes fluctuate with the workforce, and the dependency ratio is becoming increasingly frightening as babyboomers age and medical costs rise at a heightened pace - the budgetary situation would be increasingly ominous, despite social security tax 'inflows'. hence, the right cuts in the right ways could save the country trillions, which is what i was originally emphasizing, as mush4brains was demonstrating that he had mush4brains
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Le_Canard
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Re: The debt ceiling has been reached... again [Re: memes]
#18761326 - 08/26/13 08:39 PM (10 years, 5 months ago) |
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I see. I concede to your point then, good sir.
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qman
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Re: The debt ceiling has been reached... again [Re: Le_Canard]
#18761355 - 08/26/13 08:46 PM (10 years, 5 months ago) |
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Quote:
ToiletDuk said:
Quote:
meams said:

Well, actually, that little graphic is rather misleading as both Social Security and Medicare both have cash inflows as well, but I'm sure the Heritage Foundation would love to see both eliminated.
The cash "inflows" have always been spent, last year SS had a negative cash flow of over $50 billion, the first negative cash flow in its history.
As the baby boomers start retiring, and the work force remains weak, the SS negative cash flows should only continue to expand in the coming years.
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Le_Canard
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Re: The debt ceiling has been reached... again [Re: qman]
#18761369 - 08/26/13 08:49 PM (10 years, 5 months ago) |
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Well, yes, as Meams said it's starting to weaken, due to a number of factors. But $50 billion is hardly 22% of the total budget, I would think.
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findingtruth
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Re: The debt ceiling has been reached... again [Re: This_Guy]
#18761372 - 08/26/13 08:51 PM (10 years, 5 months ago) |
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Quote:
This_Guy said: It's not even real money anyway...
Its just 1's and 0's....no different then what your table is worth to YOU
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qman
Stranger

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Re: The debt ceiling has been reached... again [Re: Le_Canard]
#18761436 - 08/26/13 09:05 PM (10 years, 5 months ago) |
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Quote:
ToiletDuk said: Well, yes, as Meams said it's starting to weaken, due to a number of factors. But $50 billion is hardly 22% of the total budget, I would think.
SS always had a positive cash flow (more money was collected than was payed out),the excess money was always spent in the general fund.
The phony accounting of the government counts that money that was spent, and puts it into the SS trust fund (box of IOU's), they even collect interest on the "make believe" money.
SS tax money always went into the general budget, but now the program is spending more than it collects, and the deficit was $50 billion last year, not good.
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memes
Blessed



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Re: The debt ceiling has been reached... again [Re: Le_Canard]
#18761464 - 08/26/13 09:11 PM (10 years, 5 months ago) |
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Quote:
ToiletDuk said: Well, yes, as Meams said it's starting to weaken, due to a number of factors. But $50 billion is hardly 22% of the total budget, I would think.
it's not a problem now......
but it will be.
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memes
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Re: The debt ceiling has been reached... again [Re: memes]
#18761468 - 08/26/13 09:12 PM (10 years, 5 months ago) |
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and yes, i am well aware that the forecasted projections are inherently inaccurate as t increases past the last data point
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zappaisgod
horrid asshole


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Re: The debt ceiling has been reached... again [Re: Patlal]
#18764413 - 08/27/13 03:14 PM (10 years, 5 months ago) |
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Quote:
Patlal said:
Quote:
zappaisgod said:
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Mush4Brains said: Instead of making cuts, wouldn't it be easier to reduce costs by becoming a healthier nation?
And how do you propose doing that? People indulge in unhealthful pleasures. You want to have forced exercise sessions and outlaw certain foods? Education is no answer. People know the shit they are doing is unhealthy and do it anyway.
In Japan, companes make their employees do exercise during work hours to increase productivity. It works very well. Every nation on earth should it.
Every nation should force it's citizens to exercise? That's fucking vile.
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Prisoner#1
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Re: The debt ceiling has been reached... again [Re: Patlal]
#18764428 - 08/27/13 03:16 PM (10 years, 5 months ago) |
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Quote:
Patlal said: Mid October they're saying.
Of course the Democrates and the Republicans can't agree on anything... Again...
I wonder why cause they both know they're gonna have to raise the debt ceiling. The US dollar will lose value, which sucks for everybody.
The only good news is that China owns that majority of the US debt. Since the US will never be able to pay it back, China will lose a shit ton of money. Yay! lol
wow... it's the democrats that cant agree, they still believe in spending their way out of debt and china owns a little over 10% of the public debt, not the majority
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Patlal
You ask too many questions



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Re: The debt ceiling has been reached... again [Re: Prisoner#1]
#18764945 - 08/27/13 05:07 PM (10 years, 5 months ago) |
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Quote:
Prisoner#1 said:
Quote:
Patlal said: Mid October they're saying.
Of course the Democrates and the Republicans can't agree on anything... Again...
I wonder why cause they both know they're gonna have to raise the debt ceiling. The US dollar will lose value, which sucks for everybody.
The only good news is that China owns that majority of the US debt. Since the US will never be able to pay it back, China will lose a shit ton of money. Yay! lol
wow... it's the democrats that cant agree, they still believe in spending their way out of debt and china owns a little over 10% of the public debt, not the majority
Really??? Just 10%????
I am surprised to see that number. I always assumed in was something like 50%. Its that kind of shit you think is a fact because people around you act as if it was super high and you forget to do the research to prove it. People are unreliable.
EDIT: Forbes says its actually 7.5%. Much better than I thought!
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Edited by Patlal (08/27/13 05:10 PM)
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zappaisgod
horrid asshole


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Re: The debt ceiling has been reached... again [Re: Patlal]
#18764963 - 08/27/13 05:12 PM (10 years, 5 months ago) |
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Quote:
Patlal said:
Quote:
Prisoner#1 said:
Quote:
Patlal said: Mid October they're saying.
Of course the Democrates and the Republicans can't agree on anything... Again...
I wonder why cause they both know they're gonna have to raise the debt ceiling. The US dollar will lose value, which sucks for everybody.
The only good news is that China owns that majority of the US debt. Since the US will never be able to pay it back, China will lose a shit ton of money. Yay! lol
wow... it's the democrats that cant agree, they still believe in spending their way out of debt and china owns a little over 10% of the public debt, not the majority
Really??? Just 10%????
I am surprised to see that number. I always assumed in was something like 50%. Its that kind of shit you think is a fact because people around you act as if it was super high and you forget to do the research to prove it. People are unreliable.
EDIT: Forbes says its actually 7.5%. Much better than I thought!
What makes it "better"?
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Patlal
You ask too many questions



Registered: 10/09/10
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Re: The debt ceiling has been reached... again [Re: zappaisgod]
#18764989 - 08/27/13 05:20 PM (10 years, 5 months ago) |
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Quote:
zappaisgod said:
Quote:
Patlal said:
Quote:
Prisoner#1 said:
Quote:
Patlal said: Mid October they're saying.
Of course the Democrates and the Republicans can't agree on anything... Again...
I wonder why cause they both know they're gonna have to raise the debt ceiling. The US dollar will lose value, which sucks for everybody.
The only good news is that China owns that majority of the US debt. Since the US will never be able to pay it back, China will lose a shit ton of money. Yay! lol
wow... it's the democrats that cant agree, they still believe in spending their way out of debt and china owns a little over 10% of the public debt, not the majority
Really??? Just 10%????
I am surprised to see that number. I always assumed in was something like 50%. Its that kind of shit you think is a fact because people around you act as if it was super high and you forget to do the research to prove it. People are unreliable.
EDIT: Forbes says its actually 7.5%. Much better than I thought!
What makes it "better"?
I thought China owned like 50% of the debt. It's only 7.5%. It isn't as catastrophic as it seems. It's a trillion out 16. I thought China had you by the balls.
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zappaisgod
horrid asshole


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Re: The debt ceiling has been reached... again [Re: Patlal]
#18765042 - 08/27/13 05:32 PM (10 years, 5 months ago) |
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The more debt of ours they hold the more WE have THEM by the balls.
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Patlal
You ask too many questions



Registered: 10/09/10
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Re: The debt ceiling has been reached... again [Re: zappaisgod]
#18765109 - 08/27/13 05:51 PM (10 years, 5 months ago) |
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Quote:
zappaisgod said:
The more debt of ours they hold the more WE have THEM by the balls.
Not really no.
Both China and the US depends on each others' prosperity. If the US falls China don't have customers. If China falls, there's no more cheap items.
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zappaisgod
horrid asshole


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Re: The debt ceiling has been reached... again [Re: Patlal]
#18765123 - 08/27/13 05:55 PM (10 years, 5 months ago) |
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Quote:
Patlal said:
Quote:
zappaisgod said:
The more debt of ours they hold the more WE have THEM by the balls.
Not really no.
Both China and the US depends on each others' prosperity. If the US falls China don't have customers. If China falls, there's no more cheap items.
If we can take their money and not pay it back they are screwed, not us. If they fall the items they make will be even cheaper.
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Patlal
You ask too many questions



Registered: 10/09/10
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Re: The debt ceiling has been reached... again [Re: zappaisgod]
#18765220 - 08/27/13 06:23 PM (10 years, 5 months ago) |
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Quote:
zappaisgod said:
Quote:
Patlal said:
Quote:
zappaisgod said:
The more debt of ours they hold the more WE have THEM by the balls.
Not really no.
Both China and the US depends on each others' prosperity. If the US falls China don't have customers. If China falls, there's no more cheap items.
If we can take their money and not pay it back they are screwed, not us. If they fall the items they make will be even cheaper.
And then what? The rest of the world will witness the US screwing China out of a trillion dollars. Then they'll be like, wait, if they did it to China, what's stopping them from screwing us over too? And so foreign investments will move out of the US and they will find a way to avoid doing business with the US. The US economy would collapse while all the other country's economy would surge because suddenly there a huge need to compensate what the US no longer provides.
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zappaisgod
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Re: The debt ceiling has been reached... again [Re: Patlal]
#18765228 - 08/27/13 06:24 PM (10 years, 5 months ago) |
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Please tell me why the US should need one cent of foreign investment.
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NWlight
Just look


Registered: 01/12/10
Posts: 18,686
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Re: The debt ceiling has been reached... again [Re: zappaisgod]
#18765240 - 08/27/13 06:27 PM (10 years, 5 months ago) |
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lol debt is fake money is fake we can spend whatever we want and bomb people who want it back
#real talk
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Patlal
You ask too many questions



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Re: The debt ceiling has been reached... again [Re: zappaisgod]
#18765245 - 08/27/13 06:28 PM (10 years, 5 months ago) |
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Quote:
zappaisgod said: Please tell me why the US should need one cent of foreign investment.
Well like I dunno, I can only think of 16 trillion reason why the US could use extra cash
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zappaisgod
horrid asshole


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Re: The debt ceiling has been reached... again [Re: Patlal]
#18765252 - 08/27/13 06:31 PM (10 years, 5 months ago) |
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That is the federal government debt and most of it is owed to the American people.
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Patlal
You ask too many questions



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Re: The debt ceiling has been reached... again [Re: zappaisgod]
#18765263 - 08/27/13 06:33 PM (10 years, 5 months ago) |
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Quote:
zappaisgod said:
That is the federal government debt and most of it is owed to the American people.
All 54% of it.
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NWlight
Just look


Registered: 01/12/10
Posts: 18,686
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Re: The debt ceiling has been reached... again [Re: Patlal]
#18765305 - 08/27/13 06:44 PM (10 years, 5 months ago) |
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hey 54 percent is still most lol 
not that I like publicly agreeing with zap
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4runner


Registered: 07/16/10
Posts: 15,406
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Re: The debt ceiling has been reached... again [Re: NWlight] 1
#18765347 - 08/27/13 06:52 PM (10 years, 5 months ago) |
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Can't we all just stop giving money to other counties for a while. Then maybe we can figure it all out.
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NWlight
Just look


Registered: 01/12/10
Posts: 18,686
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Re: The debt ceiling has been reached... again [Re: 4runner]
#18765445 - 08/27/13 07:20 PM (10 years, 5 months ago) |
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Quote:
anunnakian said: Can't we all just stop giving money to other counties for a while. Then maybe we can figure it all out.
ISOLATIONISM FTW
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Xingu
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Re: The debt ceiling has been reached... again [Re: NWlight]
#18770849 - 08/28/13 09:53 PM (10 years, 5 months ago) |
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Quote:
NWlight said:
ISOLATIONISM FTW
It's working pretty well for North Korea, why not?
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