English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

http://www.brillig.com/debt_clock/

2007-08-29 05:30:09 · 38 answers · asked by Raven 2 in Politics & Government Other - Politics & Government

Heavysarcasm, I have looked it up.

The U.S. National Debt as a percentage of GDP has never been as high as it is now, except at the end of World War Two.

2007-08-29 05:52:17 · update #1

Source: http://en.wikipedia.org/wiki/United_States_public_debt

2007-08-29 05:54:30 · update #2

Consequences:

In 2006, Professor Laurence Kotlikoff argued the United States must eventually choose between "bankruptcy," raising taxes, or cutting payouts. He assumes there will be an ever-growing payment obligations from Medicare and Medicaid.[17] Others who have attempted to bring this issue to the fore of America's attention range from Ross Perot in his 1992 Presidential bid, to Investment guru Robert Kiyosaki, and, most recently, David Walker, head of the Government Accountability Office.[18][19]

2007-08-29 06:09:01 · update #3

Also from Wikipedia.

2007-08-29 06:09:36 · update #4

Bubba, get a grip. I wasn't implying that the Democrats have a plan. I am a Libertarian. I vote Democratic as the lesser of two evils, as a general rule.

2007-08-29 12:10:02 · update #5

Ah, Karl K, dear, the national debt has grown at the rate of 1.43 billion dollars A DAY for the last year.

2007-08-31 12:25:37 · update #6

38 answers

Hopefully cut over-funded unsuccessful social programs. I myself am wondering what the Democrats are going to do about it, since they authorized and funded it.

2007-08-29 05:38:12 · answer #1 · answered by Anonymous · 9 3

Good question! Why not ask what the Democratic Party's plan is, too? National debt increased by over 30% during Clinton's presidency, so why is it that neither party is doing anything about it?

Will increasing taxes and thus lowering long-term economic growth and thus lowering future revenue for a short term revenue gain decrease it? No.

Will implementing an outrageously expensive and unconstitutional nationalized health plan improve the debt? No, it will only increase it, and increase it exponentially as time goes on.

Will ending the War on Terror, cold-turkey, cut the debt? Insignificantly. Considering that the total cost of the war, over the 5 years since the invation of Afghanistan, is less than any one single year's increase in the national debt, then that isn't it, either.

So, what is the Democrat plan? They don't have one, either.

2007-08-29 05:52:15 · answer #2 · answered by Anonymous · 3 1

By making all of the tax cuts PERMANENT. Have you ever wondered why taxes are down, but tax revenue is actually up? The federal government has had to adjust it's deficit predictions several times over the last year due to increased corporate tax revenues due to expanding business, growth, and increased profits. It's proof that when you lower taxes, it enables business to expand and grow, thus creating more revenue, and thus creating more TAX revenue than if you simply increased their tax rate. If Republicans can manage to keep the liberal democrats from raising taxes, the national deficit would effectively be paid off within 8-10 years based PURELY on increased corporate tax revenue.

Does this answer your question? Or were you hoping for a smash and bash attack on republicans? Which reminds me.....what is the DEMOCRAT plan on reducing the national debt?

2007-08-29 05:50:31 · answer #3 · answered by ? 5 · 3 1

The Republican plan is to make the debt bigger and bigger, leading to a sub-prime melt down.

Remember that under the Clinton administration the debt was taken to zero. This was not brilliant economics on his part, but rather an astronomical gamble of placing all the nation's debt in bonds of same vintage. As we can see from how the stock market is in free fall today, and has been in free fall for many years, gambling the nation's future that way is a form of Russian Roulette.

I do not have the confidence in ourselves and our leaders to be able to properly load the dice of that game to win it.

2007-08-31 05:36:43 · answer #4 · answered by Anonymous · 0 1

This country has been in debt since Andrew Jackson was President. Look it up.
As a percentage of our GDP, our debt is not out of line with most other developed countries.
I would however, like to see a balanced budget, or budget surplus and Federal spending drastically reduced as well as the elimination of many federal departments & bureaucracies.

2007-08-29 05:36:52 · answer #5 · answered by heavysarcasm 4 · 7 2

First of all, your quoting wikapedia. Yea, a "factual" source. Do you even realize that it is completely edited by anyone?

Second, the debt was at 3.7 Tril (roughly) when Clinton was in office and when he left office was at 5.7 tril. that's a two trillion increase in the debt during a time of peace and when he "supposedly" gave us a surplus...go figure.

Bush has a higher rating going from 5.7 tril to 8.9 tril. That is 3 trillion over his tour of presidency during a time of war.

So your busting our balls over one trillion dollars difference? Hell, the way you make him sound it should be trillions in difference. I think it's pretty good management considering we have been at war for almost seven years.

But you don't think that way, you only want something to blame the Republican party with...

2007-08-29 06:17:00 · answer #6 · answered by Q-burt 5 · 4 2

We could do away with throwing money at everything that moves and let people take responsibility for themselves...that would be a start, instead of blowing up the economy with universal health care the way the Democrats plan...

2007-08-29 05:38:39 · answer #7 · answered by Anonymous · 7 2

to continue to reduce the deficit as they have the past three years, by reducing taxes for most every citizen (eliminating them entirely for the poorest and increasing them for the richest, as always).
rather then seeing business as the enemy, they will continue to support a healthy economy, and expect even more record setting revenues in the future.

what the dem plan?

2007-08-29 05:49:44 · answer #8 · answered by karl k 6 · 3 1

Grow the economy at an unprecedented rate and use the increased tax revenues to pay it off without raising marginal tax rates.

Pretty optimistic for a 'conservative' party...

2007-08-29 05:43:59 · answer #9 · answered by B.Kevorkian 7 · 2 2

What do you think will happen when Dem's take office? They are calling for socialized medicine. Where will that money come from. Democrats are pro-big government. A bigger Government means more spending. Do your homework before posting this biased crap. Secondly, there has been a budget deficit ever since we left the gold standard in the 1920's.

2007-08-29 05:40:00 · answer #10 · answered by only p 6 · 5 4

Devalue the dollar so the debt is meaningless and make the rest of ignoramus America work for them like slaves so business as usual.

2007-08-29 07:16:31 · answer #11 · answered by airmonkey1001 4 · 1 3

fedest.com, questions and answers