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People who don't have confidence in the USA are retards. Seriously though the national debt isn't a problem. In fact it's good for the financial system.
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I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett Kavanaugh -
The UK still pays interest on debt bonds from before the Napoleonic era, and has no intention of settling the debt. Shame on them for their irresponsibility.One day Canada will rule the world, and then we'll all be sorry.Comment
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I think the US should mostly repay its debt.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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The US has never failed to repay its debt.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Even if we are in debt forever, we can still repay it. It's deficits we can't have forever.If there is no sound in space, how come you can hear the lasers?
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Who's talking about forever? Right now our debt is popular? We aren't like someone's brother-in-law. We aren't asking for a favor. We're providing investment opportunities.Originally posted by Hauldren Collider View PostI drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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We can have up to a certain level of deficits forever, because the tax base grows over time. However deficits at 10% of GDP are probably not sustainable.Originally posted by Hauldren Collider View PostComment
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Presently the American federal debt is at almost $15 trillion dollars.
1. Yes
2. N/A
3. I think we should start paying on it now, and have it completely paid off in 30-50 years.
4. I do, but I think it will take a constitutional admendment before it happens.
5. Nobody as far as I know.
6. That eventually we will have to devalue the dollar, experience extremely high level of inflation (but not hyper inflation), and have our standard of living errode compared to what it is currently.Comment
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I'm not entirely comfortable with assuming the tax base will always grow.Originally posted by gribbler View PostIf there is no sound in space, how come you can hear the lasers?
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Yeah, I'm sure the end of technological progress and population growth is imminent and we'll suddenly go from a norm of 2% inflation to a norm of no inflation.Originally posted by Hauldren Collider View PostComment
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Actually, there are plenty of countries where immigration and birth don't meet replacement and the population is, in fact, shrinking.If there is no sound in space, how come you can hear the lasers?
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President Obama claims that his budget proposal would cut $4 trillion in just 12 years. Can we really trust a man who vowed time and time again that his administration would cut the budget deficit in half, but instead, brought our budget deficits to record levels in just half a term in the White House?Comment
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They have much lower total fertility rates than the US does.Originally posted by Hauldren Collider View PostComment
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They do right now. I'm just commenting we can't count on always running a deficit if our birth rate drops further or our immigration rate shrinks.Originally posted by gribbler View PostIf there is no sound in space, how come you can hear the lasers?
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