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US - leaked 2018 budget proposals.

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*GG*

senior member
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Well you can take 3 to 4% off that number, because if DC does not get that as an increase, they consider it a cut!

Does your pay go up 3 to 4% every year, if so, great for you! I know i was "lucky" to get an increase of 1% around 2009 and beyond, didn't keep up with my expenses!

GG

Edit: It is so Sad that most Americans are expected to do the same with less money, but heaven forbid the Gov't has to live by the same rules! There is always waste to be cut, if you don't Demand that, then you just get this Gov't that lives beyond its means, year after year!

Who do you think is going to be hurt most when that Debt can no longer be added to?
 

RogerBlack

Senior Member
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902
@*GG*
The interesting thing about US debt is that it is impossible to repay. The total debt far exceeds the total supply of money.
Err - no.
Debt is around 20 trillion.
Income is about 20 trillion.
The interest on the debt is about 7% of total government spending at the moment.(266B).

If the government was to spend an extra $80B paying down debt, it would be gone in 50 years. (simplifying)
 

RogerBlack

Senior Member
Messages
902
@RogerBlack

I replied to you just now, but I deleted it because I think I need to clarify that I was talking about total US debt (i.e. national an private). This article is where I was taking my information from, though I have not fact checked it:
The article starts out with a stupid claim for the headline.
Namely that you can't pay off the debt immediately, because there isn't that much money.

This is idiotic.
The concerns about increasing spending due to 'locked in' obligations are real, but a very far distance from making it 'mathematically impossible'.
Either reneging on those obligations in some manner, finding more economic ways to pay them off, drastically decreasing spending in other areas, or increased taxation could enable repayment.

If it is politically impossible to control the debt spiral is another question.
 

*GG*

senior member
Messages
6,389
Location
Concord, NH
@*GG*

I suspect these cuts are going to fund the military rather than pay down the debt, but we'll have to wait and see.

The interesting thing about US debt is that it is impossible to repay. The total debt far exceeds the total supply of money.

He won the election, he gets to set his priorities. Last I knew it is the gov't job to protect the country (so I have no problem with funding a Military), provide for your Health Care, nope.

GG
 
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