A simple question: When will Obama's $8trillion in debt be paid back? My back of the envelope calculation says that it would take ~$500B in spending cuts just to get to the point we aren't adding to his mountain of debt. If we cut another $100B and paid off the principle, it would take 80 years. Every president inherits some mess left by their predecessor. There was a financial disaster in Clinton's last year that W inherited. No excuse.
It would take a much better man than me to answer that question correctly. It's weird though. Any more 8 trillion doesn't sound like that much. Guess we are getting a little numb.
$8trillion works out to $125,000 for every family of four in the country. This is $1T in stacks of $100 bills.
DennyMath? Pretty sure there are more than 256M people in the country. Or are you assigning all the debt to families with exactly 4 members? It's a very tiny pile. barfo
It's simple to predict the future. Accuracy is sometimes a problem, though. How much of the back of the envelope did you use to calculate the current deficit? okay. So? Is that a likely scenario? False. George Washington had no such problem. Also, I doubt President Tyler had that problem either. barfo
Per capita debt is $60,000. More than half that is Obama's. 4x$30,000 = 120,000, give or take the $5K. Where did I come up with the $8T number? That's the difference between today's $17.9T debt and when he took over. That tiny pile is 1/8th of Obama's overspending.
Damn Denny! Give it up! You have exceeded all expectations to enlighten. However, we do have here the prime example of what is wrong with our current version of a democratic republic.
Why are you quibbling? You can't defend the spending, your inflation adjusted deficits, or much else.
So what do the liabilities look like on the Federal Reserve's balance sheet since Obama took office? Another $3T or more in debt that doesn't show up on as T-Bill borrowing.
Shouldn't someone quibble when you say 8 is more than half of 17.9? Is basic math now considered a matter of opinion? barfo
It is quibbling! It should have been more than close enough to dissuade you from voting for the epitome of ineptitude..
I didn't say it wasn't quibbling. But if one wants to make fact based arguments, one should get the facts right. Not just maybe kind of close to approximately right. Even someone who lives in Brookings (ah, close enough) and is building a train (or something like that) out of mashed potatoes and bull semen (or similar materials) should be able to understand that. barfo
"should be able to understand" Now there is an interesting subject and whom understands what. But I think I will leave you with the potatoes and bull semen. I take it you under stand that.
Dude, YOU are the one whose take was "This was the biggest "Bullshit" article I've read. Its like having a Ferrari sticker on your Honda Civic window and calling it a Ferrari." Talk about not liking facts. You haven't cited even one in any of your responses to this thread. Silly asides and non-sequiturs are not facts and carry no argumentative heft.
It's because I don't have to. Denny is the master!!! And it is a "bullshit" wag the dog piece. The tone of the article is proof enough. It's like a parent talking up a special needs child in comparison to a Olympic athlete.
