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joether -> RE: How big a trillion really is (9/28/2012 1:14:09 PM)
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quote:
ORIGINAL: papassion
People talk about trillions but I don't think they have a realistic concept of how big a trillion is. One million seconds is 12 days. One billion seconds is a little over 31 YEARS. One trillion seconds is 31,688 YEARS! If you spent a dollar a second, it would take 31,688 YEARS to spend a trillion! Can you now grasp the magnatude of the problem with our national debt over 16 trillion?
Where do you buy gas for your car for $1/gallon? Or milk? Or beer? Last I checked, making down payments for house take quite 'a few' dollars. But do a search on google for 'what does a trillion dollars look like'. I doubt you know what the number really looks like. And just an FYI, the Federal Reserve doesnt have that much in printed circulation, which is why the images you'll see are cartoonish, NOT, real images.
quote:
ORIGINAL: papassion
To illustrate the crock of shit class warfare Obama spouts about how "their fair share" will solve all our problems. Mike Shedlock from Global Economic Trend Analysis, Even if the government taxed 100% profits from EVERY American corporation, Taxed the super wealthy like Buffet and Gates, Soros, etc, at 100%, and confiscated their assets, Took the COMBINED salaries of ALL players in the NFL, Major League baseball, the NBA, and the NHL, cut military spending by 254 billion, and tax 100% of EVERYONE making over 250,000, you still would not balance the budget. Does this give you any clue about how deep in shit we are with government overspending? Still think Obama or Romney isn't going to have to go after the middle class (YOU) for tax money?
Really? A Democrat was so crooked as to create the national debt of $16 trillion? Yes, your understanding of 'reality' is questionable at best. Back in the 5th year of President Clinton's administration (term 2, 1st year), the budget was balanced with progress on paying down what then, was considered a 'massive debt'. The proceeding three years, saw surpluses on the budget, and the US debt being reduced. Enter President Bush in 2000, whom under pressure by both members of the GOP and conservatives at large, gave a series of tax cuts. These became infamously known as the 'Bush Era Tax Cuts'. Within one year, the budget went from 'surplus' to 'deficit'. Each year of Mr. Bush's presidential administration saw an ever growing deficit. Even into the Obama administration, the deficit was widening. Those tax cuts, are directly tied to the deficit problems the nation has experienced. Only a fool or an idiot couldnt put two and two together and arrive at four!
What papassion doesnt understand, like many other conservatives (both on this here forum and else where), is that paying down US Debt first requires balancing the budget. Republicans are against the Bush Era Tax Cuts from being eliminated by the wealthy 2% of the nation. Its no surprise that this 2% have been contributing heavily to Republican causes over the last several recorded years. They would like a reduction of the federal budget. However, I find just about all the GOP's grunt supporters (those whom arent making $250,000+/year) really do not understand what happens when a $100 Billion is cut from the budget. The US Budget is about $3.45 Trillion, or 34.5 units of $100 Billion. Each $100 Billion maintains and/or recruits 700,000 to 950,000 (best guess based on information from multiple sources right now) American jobs. The biggest chunk of this is private sector jobs (Boeing makes jets for the US Military, who do you think actually builds them?). The smallest chunk of three, is the public sector. The 'in-between' group is 'down stream jobs'. These are jobs created because the other two groups need cars, buy gas, buy homes, cloths, food, medical costs, etc. In order to 'even out' the budget, the US Goverment would need to drop the budget by $1.4 Trillion dollars, or 14 units of $100 Billion. You do the math on how many jobs those are, from the 26 types of industries operating in the USA.
Oh, should I mention that those lost jobs will only force the current unemployment rate to rise by twice its number? And the number of people in the unemployment area will be around 35-42 million Americans? Yeah, conservatives bitch at the President and Democrats for the high unemployment, but actively wish to double that number because they are morons.
Restoring the tax level for the upper 2% of income earners in the nation, would lower that deficit experienced by a dramatic amount. Best guess among the economists in the nation and world wide place it at $900 Billion to about $1.5 Trillion. Again, this is 'best guess', based on available information. If Republicans did that, they might find Democrats might be more willing to do a budget cut for a few hundred billion even though they know the dire effect it'll have on the economy.
Now why is it papassion, that you dont either have this information, or know it?
Now, papassion here believes that its impossible to pay off the big debt, even if we do his/her mind numbing mathematical calculation of combining all the salaries of sports players together. Papassion has never bought a house or paid off the mortage, is what I suspect. Millions of couples in the USA, do not pay cash for houses worth $500,000 in New England. They put a down payment and make monthly installments to pay the big number off over a period of 20 to 30 years. That is how the US Debt should be paid off as well. With a plan, to apply 'X' amount of money, each year to pay the debt off, while controlling costs from a budget view. In addition, that we dont pay for wars with borrowed money (i.e. the Iraq & Afghanistan wars). Nor do we do everything to undermine the growth of the middle class (to which the GOP is doing right now).
In the end, even the middle class's taxes will get raised due to the 'moronic' viewpoints that have been displayed and still are on displayed by conservatives across the nation. There are to many 'papassion' types that are just plain ignorant of reality, economics, and how laws operate at all levels (individual, group, state, federal, and international).
quote:
ORIGINAL: papassion
16 trillion is the tip of the iceburg. America has promised it citizens tens of trillions more in Social Security, Medicare, Medicaid, welfare. Laurence Kotlikoff, professor of Economics at boston University puts america's total liabilities at a mind boggling 222 TRILLION! There is NO way America can pay this bill. Lots of us are going to get fucked on pensions and/or other government promises.
Papassion is referring to this article from Bloonberg.com. Yes, I will have to pay higher taxes, cus conservatives were to stupid and foolish to vote Bush into office for two terms, in additional packing Congress with useless morons that have decided that 'killing the US economy makes President Obama a one term president is 'ok'. You, papassion, and your fellow conservatives voted in the people that F'ed with things on so many levels. And you have not enough clue to take ownership of your failed responsibility to the rest of the American people. I didnt vote for Bush, as I knew back in 1999 he was not a good choice; an yet, I'll have to pay for the $10 Trillion in debt he run up under his watch. The so called 'Fiscal Conservatives' is a total joke that only conservatives dont get these days. The $222 Trillion is based on the idea, we dont deal with the problems 'today' like adults. But we cant, so long as the 'childish' Republicans remain in Congress in any number greater than zero!
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