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The Debt Limit is unlimited

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  • The Debt Limit is unlimited

    It's impossible to reduce our debt to $0 under our current monetary system. I know some of you are aware of how central banking and debt based money works, but this is one of the best explanations I've seen.

    <iframe width="420" height="315" src="//www.youtube.com/embed/iFDe5kUUyT0" frameborder="0" allowfullscreen></iframe>

  • #2
    Why is debt of $0 <i>a priori</i> a Good Thing?

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    • #3
      More and more people are starting to become aware. SLOWLY.....

      The reality is it's a profitable game for the owners of the feds and we are the pawns. When Obama was a senator he was dead set against raising the debt ceiling. Now that he's the president he whines on TV that it has to be done.

      The reality is nobody wants it to implode on their watch. Just a matter of time but even then the party in power will just blame the one before them!

      Hmm....Wish I could buy stock in the fed!

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      • #4
        The Tea Party is crying for a debt fix while doing everything in their power to stall the economy. If the radical extremists on the Right were gone tomorrow and our government could come together, agree on some cuts and some stimulus spending, plus raising taxes, while putting together a long term budget, business would start getting back to work, making long term plans, and hiring people. Then, when the economy got rolling again, we could deal with our debts. It will never happen while fanatics like Cruz are more addicted to destroying Obama's presidency than they are to doing what's best for the American people.

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        • #5
          It's interesting how trying to run a government with a budget has become "radical".

          How far America has fallen.

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          • #6
            Originally posted by Meck77 View Post
            It's interesting how trying to run a government with a budget has become "radical".

            How far America has fallen.
            You're not going to fix the deficit by stalling the economy. Will - Never - Happen.

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            • #7
              Originally posted by Meck77 View Post
              It's interesting how trying to run a government with a budget has become "radical".

              How far America has fallen.
              It's not radical to run a gov with a budget, just your dumbass ideas on how to do it are.

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              • #8
                Originally posted by Rohirrim View Post
                You're not going to fix the deficit by stalling the economy. Will - Never - Happen.
                It's mathematically impossible to fix the deficit with deficit spending. If you borrow a dollar into existence, it has to be paid back plus interest. So even if you don't spend it (no chance of that), you still have to borrow additional money to cover the interest, pay off the debt, and arrive back at square one with more debt than before.

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                • #9
                  Originally posted by W*GS View Post
                  Why is debt of $0 <i>a priori</i> a Good Thing?
                  It's better than debt of $17 trillion, but our generation didn't really have much control. The Federal Reserve and IRS were created exactly 100 years ago. That generation had more control over our fate by creating new false prosperity for the short-term. But we have control over our grandchildren's fate. They have no choice but to be saddled with the debt we pass on to them, and the policies that create it. It could reach a quadrillion in their lifetime. That's 1000 trillion. Interest rates won't be zero forever, so that will compound the problem. No pun intended.

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                  • #10
                    Originally posted by Arkie View Post
                    It's mathematically impossible to fix the deficit with deficit spending. If you borrow a dollar into existence, it has to be paid back plus interest. So even if you don't spend it (no chance of that), you still have to borrow additional money to cover the interest, pay off the debt, and arrive back at square one with more debt than before.
                    You're missing the point. It's also mathematically impossible to pay off debt while the economy continues to backslide. If the economy is stalled, you'll keep going backwards. An improved economy means more revenue. The ridiculous tax breaks of Reagan/Bush need to be rescinded. I think it is now obvious to everybody that the radical Right Wing faction in this country puts destroying Obama ahead of getting this economy working again.

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                    • #11
                      All we're doing at this point is kicking the can down the road. Pay now...pay later, but we will pay.

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                      • #12
                        Originally posted by Rohirrim View Post
                        You're missing the point. It's also mathematically impossible to pay off debt while the economy continues to backslide. If the economy is stalled, you'll keep going backwards. An improved economy means more revenue. The ridiculous tax breaks of Reagan/Bush need to be rescinded. I think it is now obvious to everybody that the radical Right Wing faction in this country puts destroying Obama ahead of getting this economy working again.
                        Yeah because taking money out of the private sector and giving it to our obviously super-competent and super-efficient federal government is the only answer.

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                        • #13
                          Originally posted by BBII View Post
                          Yeah because taking money out of the private sector and giving it to our obviously super-competent and super-efficient federal government is the only answer.
                          Private sector? Oh, you mean the Cayman Islands.

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                          • #14
                            Originally posted by Rohirrim View Post
                            Private sector? Oh, you mean the Cayman Islands.
                            If it's good enough for Obama's Treasury Secretary, it's good enough for me.

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                            • #15
                              Originally posted by Arkie View Post
                              It's better than debt of $17 trillion, but our generation didn't really have much control. The Federal Reserve and IRS were created exactly 100 years ago. That generation had more control over our fate by creating new false prosperity for the short-term. But we have control over our grandchildren's fate. They have no choice but to be saddled with the debt we pass on to them, and the policies that create it. It could reach a quadrillion in their lifetime. That's 1000 trillion. Interest rates won't be zero forever, so that will compound the problem. No pun intended.
                              What's worse? A $500 debt or a $5,000 debt?

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