[Rhodes22-list] National Debt

[Brad Haslett]

Slim,

I looked briefly last night and again this morning for some up to date
numbers and couldn't find any.  I've read several recent comparisons from
the WJS and other financial magazines comparing debt to GNP, and we're well
under historical highs. (I'll look through the archives when I get
home). Plus, revenue projections are currently running higher than
projections because incomes are up.  As Clinton would say, "its the economy
stupid!"

Here is a link I did run across that is a good primer.  Where things get
scary is when all the geezers (that's you and me) start drawing their SS
benefits.

http://www.cbo.gov/showdoc.cfm?index=2731&sequence=2

Bush half-heatedly tried to address the issue and got shot down.  The GOP
made a difficult situation worse by creating another entitlement program
(drug benefits).

If the Dems start wholesale whacking away at entitlements, they'll get my
vote forever.  It won't happen.

Brad


On 11/10/06, Slim <salm at mn.rr.com> wrote:
>
> Brad,
>
> Where am I going with this?  What a question!  The debt is 8.5 trillion
> and
> you're asking, "Yeah?  So?  What's your point?"  Brad, aren't you the
> least
> bit concerned?  No, I don't have a better plan.  That's not my job.  I'm
> just a dumbass musician who can only count to four.  If I did have a plan,
> who'd listen to me?  It's the job of our congressmen to fix it.  They got
> us
> into this.  I get to bitch because I'm a voting, tax-paying citizen.
>
> Where I'm going with this is that I think it's past time we should hold
> some
> feet to the fire and demand a fiscal solution.  It bothers me that this
> issue doesn't seem to be anywhere on the radar.  I think that's because:
> "A democracy will continue to exist up until the time that voters discover
> that they can vote themselves generous gifts from the public treasury."
> (the Rummy post.  Um, the good Rummy, not the bad Rummy.)
>
> Slim
>
> On 11/9/06 10:13 PM, "Brad Haslett" <flybrad at gmail.com> wrote:
>
> > Slim,
> >
> > Took a nap just now, thank-you, I feel much better (early show for a
> sim).
> >
> > Just finding a definition of "national debt" without a slant is
> difficult
> > and a source of info without an 'axe to grind' is damn near impossible.
> I
> > form a lot of opinion from reading the Wall Street Journal on a daily
> basis
> > but even that source is suspect in many peoples view.  Here's the least
> > biased report I can find on short notice - and it has pictures too!  Ask
> me
> > again tomorrow after work (10 AM) and I'll be more specific.
> >
> > http://en.wikipedia.org/wiki/U.S._public_debt
> >
> > The measure of GNP is relatively straight forward.  "National Debt" gets
> > trickier depending on what you want to include.  For example, social
> > security is often excluded because it is a "pay as you go" item, ie, an
> IOU,
> > and not included.  Include it and things get really scary.
> >
> > So where are you guys going with this discussion?  Let me guess, new
> taxes?
> > How about this novel idea - cut spending!  Bush and friends have spent
> like
> > drunken sailors.  You have a plan to turn that around?  Great!
> >
> > Brad
> >
> >
> >
> >
> > On 11/9/06, Slim <salm at mn.rr.com> wrote:
> >>
> >> Thank you, Dave.  Brad?
> >> Slim
> >>
> >> On 11/9/06 7:46 PM, "DCLewis1 at aol.com" <DCLewis1 at aol.com> wrote:
> >>
> >>>
> >>> Slim & Brad,  Factoids:
> >>>
> >>> US GDP end  2005                   $12,455,800,000,000   source
> >>> _http://eh.net/dgp/_ (http://eh.net/dgp/)
> >>> US Nat  debt   9/30/2005           $ 7,932,709,661,723.50   source
> >>> _http://www.publicdebt.treas.gov/opd/opdpenny.htm_
> >>> (http://www.publicdebt.treas.gov/opd/opdpenny.htm)
> >>>
> >>> Nat Debt/GDP  = 63%               A  small fraction of the GDP?
> >>>
> >>> Dave
> >>>
> >>> __________________________________________________
> >>> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
> >>
> >> __________________________________________________
> >> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
> >>
> > __________________________________________________
> > Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
>
> __________________________________________________
> Use Rhodes22-list at rhodes22.org, Help? www.rhodes22.org/list
>