Economist: civilization may not survive "death spiral"

[the2real4mafol]

Kasz216 said:

the2real4mafol said:

Kasz216 said:

the2real4mafol said:

RedInker said:
16 trillion Dollars!!! Fuck me thats a lot of money. Time to seriously tighten the purse srrings.

In 2000, as Bill Clinton left office, the debt was down to $6 trillion, But by 2008 because Bush started 2 wars and introduces massive tax cuts, it rose to $11 trillion and now due to the recession, it is $16 trillion under Obama.

The USA is practically worth nothing now, it's debt is $1 trillion above it's own GDP, which is $15 trillion. Whoever, get's elected now, need's to sort it before it's to late, it won't be easy, but something has to be done, or America is gone.  

"Down" to 6 trillion is a misuese.   The government's debt went up under clinton... by quite a bit.

The National Debt ended at 6 trillion under Clinton.

It started at 4.4 Trillion... and increased every year he was in office.

Fiscal Year	Year Ending	National Debt	Deficit
FY1993	09/30/1993	$4.411488 trillion
FY1994	09/30/1994	$4.692749 trillion	$281.26 billion
FY1995	09/29/1995	$4.973982 trillion	$281.23 billion
FY1996	09/30/1996	$5.224810 trillion	$250.83 billion
FY1997	09/30/1997	$5.413146 trillion	$188.34 billion
FY1998	09/30/1998	$5.526193 trillion	$113.05 billion
FY1999	09/30/1999	$5.656270 trillion	$130.08 billion
FY2000	09/29/2000	$5.674178 trillion	$17.91 billion
FY2001	09/28/2001	$5.807463 trillion	$133.29 billion

 

 

What Clinton did was pay down government debt by doing things like raiding social security for money.

A increase of $1.6 trillion in debt under 8 years of Clinton is relatively small, when it went $5 trillion under Bush (8 years) and another $5 trillion under Obama in just 4 years!!! Either way, it's not good, it's very unstainable and America can't have another 4 years where it gains another $5 trillion of debt!

America needs a president who will take out all the stops to improve the economy, while limiting excessive spending. I think they should temporarily halt all Foreign policy activities (wars, foreign aid etc.) and increase all taxes (especially on millionaires and billionaires!) Cutting, stuff at home like police or education should be limited.

The time for true change is now! 

And I thought you were an Obama guy.

Either way, the point is... the national debt never goes down. 

Even the most fiscally conservative republican is just talking about lowering the increase in government spending and debt for about 20 years until they aren't in office anymore.

Nobody has a plan to get us to no debt by 2016, 2020 or even 2028.

i'm anti-Romney lol. But to be honest, I don't care who it is, someone needs to sort out the economy and end wastful spending, cause they are shooting themsleves in the foot, the more debt they get. But, I don't believe it's Obama's fault at all. It's mostly Bush's fault as he cut taxes to rediculously low levels (only do that, if you can afford it!) and started 2 conflicts, that should of never happened. Plus the recession, started in 2007 under Bush, which naturally caused the debt to grow, due to lost revenues.

But the fact is now, the us debt is so high, it's over 100% of GDP! Which just is not sustainable, and is really when, something must be done. (multiple countries in the EU, learned this the hard way!) It's very foolish, that American politicians are not doing anything about it. The signs are already showing too, with small towns across the US going bankcrupt, what's saying Bigger cities like Detroit won't follow this? Something must be done to improve this