To give you guys an idea of how long it would take to make America healthy again financially

Discussion in 'Too Hot for Swamp Gas' started by dadx4, Aug 18, 2014.

  1. dadx4
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    dadx4 Well-Known Member

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    We would have to run $1TRILLION surpluses every year for the next 100 years.
  2. philnotfil
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    philnotfil Well-Known Member

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    [Citation needed]
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  3. orangeblueorangeblue
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    orangeblueorangeblue Well-Known Member

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    I saw the fundamental misunderstanding of our debt in another thread, and it's again worth noting that the majority of our debt is self-owed. This means, simply, that we can change the future of our debt without defaulting or necessarily paying what we "owe" in the short term.

    Our non-promise-based debt is somewhere in the $7T range. Mathematically, that means a $1T surplus for 7 years (or $500B surplus for 15 years, etc.)

    The only thing I can surmise the 100 year # would come from would be some sort of double counting of SS and Medicare promises. Which would obviously be wrong.
  4. HallGator
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    HallGator Administrator VIP Member

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    You really need to provide some background info for this.
  5. umcpgator
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    umcpgator Active Member

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  6. shelbygt350
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    If 1 second = $1.00, then....

    $1.0 million = 11.6 days

    $1.0 Billion = 32 years

    $1.0 Trillion = 32,000 years

    $7 or $17 or what Trillion is a lot of money
  7. oragator1
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    oragator1 Premium Member

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    By definition if we had a surplus it could go straight to the debt (and the payments we currently make aren't surplus, they are part of the budget), so basic math says it would take 17 years.
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  8. dadx4
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    dadx4 Well-Known Member

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    Here ya go. Right now it's 117 years, or every person in the country can just right a check to the government for $1.1 MILLION.

    Live debt clock[​IMG]

    http://www.usdebtclock.org/
    Last edited: Aug 18, 2014
  9. philnotfil
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    philnotfil Well-Known Member

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    Unfunded liabilities and debt are two different things.
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  10. dadx4
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    dadx4 Well-Known Member

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    debt is debt. Try telling your credit card company that and see what their response is.
  11. dadx4
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    dadx4 Well-Known Member

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    It's not double accounting. I posted a live debt clock, it has everything on it.
  12. orangeblueorangeblue
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    orangeblueorangeblue Well-Known Member

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    This is a fundamental misunderstanding of how that number is calculated. A credit card balance is money that is spent, whereas the unfunded liabilities includes money the U.S. expects to spend in the future.

    You understand the difference, right?
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  13. dadx4
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    dadx4 Well-Known Member

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    I do but we will have to agree to disagree on this one. So you don't think that people that have been paying into SS don't expect to get the money at 67?
  14. Emmitto
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    This would be like your credit card company estimating all purchases you ever intend to make and then calling it your current debt to them.
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  15. dadx4
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    dadx4 Well-Known Member

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    uh, no it's telling them, "well yes there is a balance but it's fictitious."
  16. philnotfil
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    philnotfil Well-Known Member

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    What is the difference between the national debt and the unfunded liabilities on this debt clock?
  17. JerseyGator01
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    JerseyGator01 Well-Known Member

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    Harry Reid: Budgets? We don't need no stinkin' budgets!
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  18. dadx4
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    dadx4 Well-Known Member

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    Medicade, Medicare and SS are "off the books." Future obligations that the money isn't there to pay it.
  19. orangeblueorangeblue
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    orangeblueorangeblue Well-Known Member

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    I said none of that. I'm simply pointing out the weakness in the analogy.
  20. orangeblueorangeblue
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    orangeblueorangeblue Well-Known Member

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    To be honest here, the money has never been there. These were all unfunded liabilities from day one. That's basically how they're designed.

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