Who owns America? Hint: It's not China – Global Public Square - CNN.com Blogs Turns out the majority of the national debt is financed by taxes withheld and similar things-- out of US pockets.
Still, I'd like to see heavy tariffs on imported Chinese goods until they crackdown on things like piracy and unfair manipulation of the yuan. The Fake Apple Stores In China Get Closed Down
The conservative propaganda machine used to say the public debt doesn't matter since it's money we our ourselves. So no problem right? :redface:
Fixed that typo for you. Yes it is a problem. You cannot write yourself an IOU, and cash it. Originally, they screamed about debt. Then, they got on the band wagon of spending money like mad. Why worry about it? We'll all be out of office when it comes crashing down. The public is so stupid, they'll blame whoever is in office when it happens. We'll be seen for the roses not the horse shit we spread all around.
We are beyond in the red. People refuse to compromise one inch on what matters to them. We will have to have higher taxes, and we will have to have budget cuts. As is typical of politicians, and the public, they want to put public servants on the chopping block.
- I got it! - Well, what is it? - A penny, a nickel... - You got hold yo' horses and let me get the dough off! A dime! We're in the money, We're in the money; We've got a lot of what it takes to get along! We're in the money, The sky is sunny; Old Man Depression, you are through, You done us wrong! We never see a headline 'Bout breadline, today, And when we see the landlord, We can look that guy right in the eye . We're in the money Come on, my honey Let's spend it, lend it, Send it rolling around! We're in the money, We're in the money; We've got a lot of what it takes to get along! We're in the money, The sky is sunny; Old Man Depression, you are through, You done us wrong! We never see a headline 'Bout breadline, today, And when we see the landlord, We can look that guy right in the eye. Look that guy right in the eye- Look that guy right in the eye- We're in the money Come on, my honey Let's spend it, lend it, send it- Let's spend it, lend it, send it Rolling, rolling- Rolling around!
As much as I loathe the party these days, the Democrats have been more than willing to compromise in terms of drastic budget cuts. On the other hand, GOP leaders are on record as saying that their act of actually coming to the table and talking to Obama IS their compromise.
My sister, a past President of the Lake Geneva Young Republicans, sent me this yesterday- Subject: Fun with Words! Did you know that, the words "race car" spelled backwards still spells "race car"? And that "eat" is the only word that, if you take the first letter and move it to the last, spells its own past tense, "ate"? And if you rearrange the letters in "Tea Party Republicans," and add just a few more letters, it spells: "Shut the fuck up, you free-loading, progress-blocking, benefit-grabbing, resource-sucking, violent hypocrites, and deal with the fact that you nearly wrecked the country under Bush, and that our president is black, so get over it." Isn't that interesting?
The wonder of national income accounting is that you (almost) can! The problem is it creates inflation and devaluation, which is how the system pays the IOU. And inflation tends to hit the poorest and weakest in society the hardest.
Yes, anyone with a lot of debt, especially fixed interest (&probably non-mortgage too), should be in hog heaven - there's probably no better time than now!
Only in Washington DC can you "keep next years (2012) spending the same as this years (2011) spending and they'll complain that they cut 900 billion"! They need to get rid of the "Baseline accounting gimmick"
