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
    Offline

    dadx4 Well-Known Member

    Joined:
    Apr 3, 2007
    Messages:
    30,150
    Likes Received:
    702
    Trophy Points:
    113
    Location:
    Gainesville, Fl
    Ratings Received:
    +2,057
    We would have to run $1TRILLION surpluses every year for the next 100 years.
  2. philnotfil
    Offline

    philnotfil Well-Known Member

    Joined:
    Apr 8, 2007
    Messages:
    12,890
    Likes Received:
    220
    Trophy Points:
    63
    Ratings Received:
    +838
    [Citation needed]
    • Funny Funny x 1
  3. orangeblueorangeblue
    Offline

    orangeblueorangeblue Well-Known Member

    Joined:
    Apr 8, 2007
    Messages:
    57,052
    Likes Received:
    595
    Trophy Points:
    113
    Ratings Received:
    +2,878
    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
    Offline

    HallGator Administrator VIP Member

    Joined:
    Apr 3, 2007
    Messages:
    44,867
    Likes Received:
    1,178
    Trophy Points:
    113
    Location:
    Outer Limits
    Ratings Received:
    +4,540
    You really need to provide some background info for this.
  5. umcpgator
    Offline

    umcpgator Well-Known Member

    Joined:
    Apr 8, 2007
    Messages:
    1,131
    Likes Received:
    25
    Trophy Points:
    48
    Location:
    Maryland
    Ratings Received:
    +38
  6. shelbygt350
    Offline

    shelbygt350 Well-Known Member

    Joined:
    Apr 3, 2007
    Messages:
    5,674
    Likes Received:
    226
    Trophy Points:
    63
    Ratings Received:
    +861
    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
    Offline

    oragator1 Premium Member

    Joined:
    Apr 3, 2007
    Messages:
    13,125
    Likes Received:
    522
    Trophy Points:
    113
    Ratings Received:
    +2,168
    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.
    • Disagree Disagree x 1
  8. dadx4
    Offline

    dadx4 Well-Known Member

    Joined:
    Apr 3, 2007
    Messages:
    30,150
    Likes Received:
    702
    Trophy Points:
    113
    Location:
    Gainesville, Fl
    Ratings Received:
    +2,057
    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
    Offline

    philnotfil Well-Known Member

    Joined:
    Apr 8, 2007
    Messages:
    12,890
    Likes Received:
    220
    Trophy Points:
    63
    Ratings Received:
    +838
    Unfunded liabilities and debt are two different things.
    • Disagree Disagree x 1
  10. dadx4
    Offline

    dadx4 Well-Known Member

    Joined:
    Apr 3, 2007
    Messages:
    30,150
    Likes Received:
    702
    Trophy Points:
    113
    Location:
    Gainesville, Fl
    Ratings Received:
    +2,057
    debt is debt. Try telling your credit card company that and see what their response is.
  11. dadx4
    Offline

    dadx4 Well-Known Member

    Joined:
    Apr 3, 2007
    Messages:
    30,150
    Likes Received:
    702
    Trophy Points:
    113
    Location:
    Gainesville, Fl
    Ratings Received:
    +2,057
    It's not double accounting. I posted a live debt clock, it has everything on it.
  12. orangeblueorangeblue
    Offline

    orangeblueorangeblue Well-Known Member

    Joined:
    Apr 8, 2007
    Messages:
    57,052
    Likes Received:
    595
    Trophy Points:
    113
    Ratings Received:
    +2,878
    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?
    • Agree Agree x 1
  13. dadx4
    Offline

    dadx4 Well-Known Member

    Joined:
    Apr 3, 2007
    Messages:
    30,150
    Likes Received:
    702
    Trophy Points:
    113
    Location:
    Gainesville, Fl
    Ratings Received:
    +2,057
    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
    Online

    Emmitto VIP Member

    Joined:
    Apr 3, 2007
    Messages:
    6,124
    Likes Received:
    300
    Trophy Points:
    83
    Ratings Received:
    +1,051
    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.
    • Agree Agree x 1
  15. dadx4
    Offline

    dadx4 Well-Known Member

    Joined:
    Apr 3, 2007
    Messages:
    30,150
    Likes Received:
    702
    Trophy Points:
    113
    Location:
    Gainesville, Fl
    Ratings Received:
    +2,057
    uh, no it's telling them, "well yes there is a balance but it's fictitious."
  16. philnotfil
    Offline

    philnotfil Well-Known Member

    Joined:
    Apr 8, 2007
    Messages:
    12,890
    Likes Received:
    220
    Trophy Points:
    63
    Ratings Received:
    +838
    What is the difference between the national debt and the unfunded liabilities on this debt clock?
  17. JerseyGator01
    Offline

    JerseyGator01 Well-Known Member

    Joined:
    Apr 10, 2007
    Messages:
    15,448
    Likes Received:
    167
    Trophy Points:
    63
    Ratings Received:
    +779
    Harry Reid: Budgets? We don't need no stinkin' budgets!
    • Funny Funny x 2
  18. dadx4
    Offline

    dadx4 Well-Known Member

    Joined:
    Apr 3, 2007
    Messages:
    30,150
    Likes Received:
    702
    Trophy Points:
    113
    Location:
    Gainesville, Fl
    Ratings Received:
    +2,057
    Medicade, Medicare and SS are "off the books." Future obligations that the money isn't there to pay it.
  19. orangeblueorangeblue
    Offline

    orangeblueorangeblue Well-Known Member

    Joined:
    Apr 8, 2007
    Messages:
    57,052
    Likes Received:
    595
    Trophy Points:
    113
    Ratings Received:
    +2,878
    I said none of that. I'm simply pointing out the weakness in the analogy.
  20. orangeblueorangeblue
    Offline

    orangeblueorangeblue Well-Known Member

    Joined:
    Apr 8, 2007
    Messages:
    57,052
    Likes Received:
    595
    Trophy Points:
    113
    Ratings Received:
    +2,878
    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.

Share This Page