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US National Debt is $86.8 trillion, the capitalist economic model is now a diasater!

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    US National Debt is $86.8 trillion, the capitalist economic model is now a diasater!

    Leading economist says US national debt is actually $86.8TRILLION | Mail Online

    The U.S. government's books are in the red by more than $86.8trillion, according to an influential University of California San Diego economist.


    Officially, the debt stands at $16.7trillion, including nearly $12million in debt held by the public in the form of Treasury Bonds, wrote James Hamilton in a working paper for the National Bureau of Economic Research.

    'These numbers are so huge it is hard even to discuss them in a coherent way,' argues Hamilton.

    Although one can quarrel with the specific numbers, there is an undeniable important reality that they reflect -- the U.S. population is aging, and an aging population means fewer people paying in and more people expecting benefits. This reality is unambiguously going to be a key constraint on the sustainability of fiscal policy for the United States.'

    Conservative groups are leaping up to point out the apocalyptic nature of the new numbers.

    Dan Holler, communications director at Heritage Action, told MailOnline that Hamilton's report 'destroys the notion that Washington can continue to ignore America’s pressing fiscal situation.' --------------------------------------------------------------------------------------------
    Capitalism has had its day, when you are debt to this amount no way you can justify this economic model as the ideal. Everyday the demise of the last superpower gets even closer they used to call the ottoman empire the sickman of Europe, today America appears to be on a life support machine!
    Last edited by rommel; Aug 7, 2013, 03:01 PM.

    #2
    Re: US National Debt is $86.8 trillion, the capitalist economic model is now a diasat

    If the US economy collapses, that in turn will deeply affect many nations including Islamic ones which rely on American aid to keep a float. Especially Pakistan who must be so reliant to the the US considering the free hand it allows it in its territory. Would the Saudis and Qataris manage to fend off Iran without the US? Be careful of what you wish for.

    Comment


      #3
      Re: US National Debt is $86.8 trillion, the capitalist economic model is now a diasat

      firstly, this is the US govt's debt, not the US economy's debt.

      and if you really look at US govt. spending that has dug itself into this ditch, where is the capitalism? the bulk of the spending is on unproductive areas - armed forces, and socialistic schemes like medicare and social security.

      the free market capitalistic system where it is free is vibrant and thriving and continues to drive the US economy still into total superiority over the rest of the world.
      Simple ain't easy.

      Comment


        #4
        Re: US National Debt is $86.8 trillion, the capitalist economic model is now a diasat

        Originally posted by rommel View Post
        Leading economist says US national debt is actually $86.8TRILLION | Mail Online

        The U.S. government's books are in the red by more than $86.8trillion, according to an influential University of California San Diego economist.


        Officially, the debt stands at $16.7trillion, including nearly $12million in debt held by the public in the form of Treasury Bonds, wrote James Hamilton in a working paper for the National Bureau of Economic Research.

        'These numbers are so huge it is hard even to discuss them in a coherent way,' argues Hamilton.

        Although one can quarrel with the specific numbers, there is an undeniable important reality that they reflect -- the U.S. population is aging, and an aging population means fewer people paying in and more people expecting benefits. This reality is unambiguously going to be a key constraint on the sustainability of fiscal policy for the United States.'

        Conservative groups are leaping up to point out the apocalyptic nature of the new numbers.

        Dan Holler, communications director at Heritage Action, told MailOnline that Hamilton's report 'destroys the notion that Washington can continue to ignore America’s pressing fiscal situation.' --------------------------------------------------------------------------------------------
        Capitalism has had its day, when you are debt to this amount no way you can justify this economic model as the ideal. Everyday the demise of the last superpower gets even closer they used to call the ottoman empire the sickman of Europe, today America appears to be on a life support machine!
        Well lets see you come up with something better mr economist.

        Overall, the US economy is growing and is adding more jobs. So while it may well cease to be a superpower some day, I dont think it will be within our lifetime.
        You know, My friends, with what a brave carouse I made a second Marriage in my house;
        Favored old barren Reason from my bed, and took the daughter of the vine to spouse.
        Omar Khayyam

        Comment


          #5
          Re: US National Debt is $86.8 trillion, the capitalist economic model is now a diasat

          Nice cut and paste Job.

          Mr. Rommel,

          The article States US debt is around 17 trillion. While govt books in the red by 86 plus trillion. No explanation given on this large discrepancy. Any help you can provide to reconcile these figures would be appreciated.

          Maybe you can contact the author of this article?
          Why isn't the Dividend story among the featured threads?

          Comment


            #6
            Re: US National Debt is $86.8 trillion, the capitalist economic model is now a diasat

            doesn't look good which ever way you look at it US debt is a huge huge problem i don't see how they can keep it under control.

            $86 trillion oh my goodness, its a nightmare figure!

            Comment


              #7
              Re: US National Debt is $86.8 trillion, the capitalist economic model is now a diasat

              Originally posted by Southie View Post
              Nice cut and paste Job.

              Mr. Rommel,

              The article States US debt is around 17 trillion. While govt books in the red by 86 plus trillion. No explanation given on this large discrepancy. Any help you can provide to reconcile these figures would be appreciated.

              Maybe you can contact the author of this article?
              86 - 17 = $69 trillion are the 'future possible' commitments and obligations that the government 'might' have to fulfill out-of-the-budget. This is no where near the possible definitions of public debt. National debt of the United States - Wikipedia, the free encyclopedia

              Comment


                #8
                Re: US National Debt is $86.8 trillion, the capitalist economic model is now a diasat

                Originally posted by kakaballi View Post
                86 - 17 = $69 trillion are the 'future possible' commitments and obligations that the government 'might' have to fulfill out-of-the-budget. This is no where near the possible definitions of public debt. National debt of the United States - Wikipedia, the free encyclopedia
                Don't try to confuse us with your secular logic...

                Like these guys are gonna let a little thing like common sense mess up their argument.
                If a man speaks in a forest and no woman hears him, is he still wrong?

                Comment


                  #9
                  Re: US National Debt is $86.8 trillion, the capitalist economic model is now a diasat

                  86.8$ trillion figure might come from future contracts & derivatives payable.
                  but they have nothing to do with public debt or US foreign debt.
                  I disapprove of what you say, but I will defend to the death your right to say it.

                  Comment


                    #10
                    Re: US National Debt is $86.8 trillion, the capitalist economic model is now a diasat

                    detroit gone california on the brink same with several other cities.

                    All this economic chaos and double digit trillion dollar debts reminds of the phrase which no doubt some americans are famliar with.

                    "the chickens have come home to roost"

                    Comment


                      #11
                      Re: US National Debt is $86.8 trillion, the capitalist economic model is now a diasat

                      Excellent stuff rommel, if nothing else you are entertaining.

                      Comment


                        #12
                        Re: US National Debt is $86.8 trillion, the capitalist economic model is now a diasat

                        Originally posted by rommel View Post

                        "the chickens have come home to roost"
                        this (secular) phrase doesnt even fit what you are trying to claim.
                        Simple ain't easy.

                        Comment


                          #13
                          Re: US National Debt is $86.8 trillion, the capitalist economic model is now a diasat

                          Need some Moderates here. Who can see both sides of every issue - the ridiculous side and the logical side.

                          How about them Moderates?
                          Why isn't the Dividend story among the featured threads?

                          Comment


                            #14
                            Re: US National Debt is $86.8 trillion, the capitalist economic model is now a diasat

                            Originally posted by rommel View Post
                            detroit gone california on the brink same with several other cities.

                            All this economic chaos and double digit trillion dollar debts reminds of the phrase which no doubt some americans are famliar with.

                            "the chickens have come home to roost"
                            California isnt a city meri jaan...
                            You know, My friends, with what a brave carouse I made a second Marriage in my house;
                            Favored old barren Reason from my bed, and took the daughter of the vine to spouse.
                            Omar Khayyam

                            Comment


                              #15
                              Re: US National Debt is $86.8 trillion, the capitalist economic model is now a diasat

                              to be fair, there is a city called california city in agricultural central valley, and it is a pretty boring place - had to stop there once and grab a bite at one rundown capitalistic restaurant - they took my capital and i got a soggy burger and fries. so maybe rommel is right.. california city is ruined..
                              Simple ain't easy.

                              Comment

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