The USA Deficit???

Hi There,

Does anyone have an opinion on the National Deficit???

If I remember, during Clinton's term, the deficit was knocked dow to the lowest figures in years, what happened lately, they are talking figures I cannot believe for the next ten years...
I know it reflects the economy, but, what is the real scoop???

Tinkertoy

 

You could put two Chicago University economists in the same room and never get an agreement.

Economics is a total dead zone to me.

 

It's the new math

http://www.toptips.com/debt_history.htm

 

Thanks for the site...
Was what I was looking for...

Now if, one of us geeks could figure out a deficit plan...
Short of overthrowing the government...JOKE...
Geeks would rule, with brains, not power...

Tinkertoy

 

This is an entertaining read.... but i must stress that you read through all the way. This explains why really and truely, the usa national debt is irrelevent, along with the Uk's too lol

American Finances Explained

As im not in the USA i have no way to cross reference cept on the net, but i've googled stuff til im black and blue and it verifies the claims here.

As i say, an entertaining read. It gets really interesting starting from beneath the table displayed. The views as to why and who's responsible for this are not necessarily mine, but the stats, etc are independantly verifiable.

If nothing else.. it makes you think

Alistair

 

Give me twenty bucks
and I will give you a form to fill out to request a form that that information can be requested form
if you are approved

application fee is $200(American)
filing fee is 500

if you are not approved
you may appeal(for a fee)

The Japan is buying everything already
The US's largest angus farm, Disney. .
Japan is a Nation of Geeks. . in search of world domination

Muahahahahaha!!!!!

 

Actually, the British own more U.S. real estate and property than the Japanese.

 

true
that was the plan from the start, right
say over 300 years ago?

I'm no patriot or whatever

I live here and eat, have a place to go to the bathrom, I don't really care who "own's" it as long as I am left alone

 

It would take a better man than I to ferret out the "real scoop" on the federal deficit. Headlines state that 2005 is expected to be $427 billion. But Washington plays shell games with money, and a lot of what they spend is "off budget", or manipulated in other ways to not account for it. I don't think anybody really knows.

The low deficits in the Clinton years was primarily due to a stubborn Republican Congress that wouldn't approve all the money Clinton wanted to spend. Plus the financial boom in the 90s brought in a lot more tax dollars. Being the perfect phony politician he was, Clinton claimed that as his own creation when people clapped for it. The Republicans have since gotten greedier themselves, and today spend as crazily as the Democrats have done in the past. Yes, the war costs a lot of money. Wars ALWAYS push up the debt, but there's PLENTY of pork being thrown around Washington that could be cut.

 

I hear a lot of people think Japan is taking over business and property etc.. of US. But I really think our own deficit is a direct result of our global market share. China, Japan, North Korea even, has a faster growing global market share than we do. There was a day, so I heard from my grandparents that the US was able and did feed the world. No longer do our exports earn more world trade dollars than the debts we invest in for imports. Put on top of the trade deficit that or tax system is still based on income and you have a recipe for economic collapse. If americans want higher paying jobs and less income tax than the jobs will go over seas and the market share with it. Then there is no way a US company can make a product that can be sold at a fair market price. I think we could get out of the "rabbit hole." If we changed our income tax base to one of consumption tax. That way you dont pay tax on income - jobs dont go over seas because US company pays you less because they dont pay tax on you and you dont pay tax off of salary. Then the tax is paid on items purchased. How much tax on items is based on global market to US deficit. With this you protect the US market share. It would be a hard adjustment to the american way of life but our current way of life is killing us. We better enjoy ourselfs the next few years cause I really dont see the US staying as a world power much longer. I think I'll take some Mandrin lessons.

 

Considering the budget proposal for 2006 includes not one penny for the "war on terrorism", I hesistate to offer an opinion. Especially when every couple of months, the current administration asks for (and receives) an additional $80 billion or so toward the "war on terrorism". It's hard to nail down a budget deficit that doesn't include such astronomical sums of money.

 

Thank you. That was a good read. I dont know if its all true but the idea of questioning the "blind patriotism" of so many seems like a step in the right direction.

 

what's a deficit thread without graphs?

 

Indeed.

We should probably define the terms that are being thrown around.

Federal deficit is the amount of overspending (outgo versus income, or taxes) by the federal government, usually specified for a year.

Federal debt is the total amount that we're behind, or the total amount of money the government owes for it's years of overspending. That's your graph scorcer It gets worse every year not only because the amount of debt keeps increasing, but we have to pay interest in the existing debt, just like you do on a bank loan, and every year the amount of interest goes up. Currently, about 1/3 of all taxes collected JUST pays interest on the existing debt instead of paying for tangible things, and that percentage goes up every year as well.

Trade deficit reflects how much we lose every year in international trade, as a nation. That includes WalMart etc. purchases, versus what the U.S. companies SELL overseas. That figure is as depressing as the national deficit, and long term is bleeding us as a nation. We've gone from the world's largest producer nation to the world's largest debtor nation in roughly 30 years. We no longer make and sell much of anything internationally, and we buy almost EVERYTHING from overseas.

We're big and have deep pockets, but eventually everybody's credit reaches their limit, and when we hit ours, it won't be pretty.

 

I wonder why the US government or Federal Reserve doesn't simply print more 100 dollar bills and pay off that loan? or doesn't this work... The cost of printing money being higher than its worth.

 

Simply printing more money devalues it, causing heavy inflation. Cause more problems than it solves. "Money" used to be pinned to actual gold and silver reserves held by the government. That hasn't been true for a long time, but they still can't just print & spend what they need on a whim. Doesn't work.

 

Yep, the people who make real decisions are global-thinkers now. They know the US is going down. The money standard of the future will be the Euro, not the dollar. That's when it starts.

The people who make the real decisions know that there's no stake in the US economy in the future. Its only a matter of time.

They will be okay, though, they make money no matter what markets do. Don't worry. The heads of enterprise are always taken care of.

Meanwhile, I guess Bush is trying to solve, what, 5 big problems at one time? I wish he'd concentrate on, say, one or two. Maybe then he'd get it right.

But, you know, Dick Cheyney stands to win BIG TIME with the new tax breaks (only ~$100 for us, but a break of WAY more than we make in a year for him and the likes of him). Oh, and
Halliburton... enough said, unless its just "one of those things".




hehehehehe.


Yeah. Its just "one of those things".



hehehehe.
Don't worry, nothing the matter here, Ma.

We should have kicked the oil addiction 15 years ago, but...

people are bought and paid for.

 

Spending and debt isn't a Bush problem, or a Republican problem, or a Democratic problem, it's a Washington problem, and a problem with all us peons that don't really care about it as long as some of it comes to US. The whole country is living on borrowed money, and demanding that Uncle Sam fork up another trip to Disney World. Bah.

 

and it would help, if some of those others across the pond....would pay us back