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Post by sigurdur on Mar 2, 2016 22:12:26 GMT
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Post by sigurdur on Mar 6, 2016 16:20:50 GMT
Gee that sucker moves fast when I'm not watching it Code: It moves fast even WHEN we are watching it!
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Post by sigurdur on Mar 8, 2016 18:46:23 GMT
Yep.
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Post by sigurdur on Mar 12, 2016 2:03:29 GMT
Today, we are 25 Billion from reaching a 1 TRILLION increase in the National debt since 10/1/2015 in the USA.
We won't make it to April! Wowsa.............
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Post by sigurdur on Mar 13, 2016 19:30:52 GMT
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Post by sigurdur on Mar 17, 2016 14:19:39 GMT
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Post by sigurdur on Mar 18, 2016 17:13:36 GMT
Senator Heitkamp:
The level of debt is rising so fast that unless someone in your office checks it daily, it is hard to stay on top off. With that stated, the increase in FY 2016 is beyond the pale.
3/16/2016 $19,151,399,412,549.77 10/1/2015 $18,150,616,066,342.53 ------------------------------------ $1,000,684,346,117.20 INCREASE
My five month old grandson is teething. While teething he starts to cry, but when I tell him about his present debt, he cries harder and harder.
Isn't it time to start addressing this? I hate to see him crying so hard. I try to explain to him that I voted for a U.S. Senator that promised to do his best to at least slow the growth of his debt. But he looks at me with his wonderful eyes, and continues to cry as the debt continues to escalate.
I don't want a handkerchief to wipe his tears. I want to be able to look him in the eye, and tell him my Senator is leading the charge to freeze aggregate spending so that the economy has a chance to grow into the debt. I want to tell him that the F-35 has been cancelled, that our greatest enemy is within our country today. We have no threats from foreign governments, as we seem to be our greatest threat.
So, please help me out so that he doesn't cry so hard.
Respectfully,
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Post by sigurdur on Mar 24, 2016 14:04:48 GMT
The last time Canada lost its way, it was in a protracted recession, almost depression, for years. Mulrooney became PM. He cut, and I mean actually CUT Canada's spending, and the economy up there started growing. Their dollar became approx 20% stronger than the US dollar. Cross border traffic went on a binge, new hotels were built in Grand Forks and Fargo to service the huge weekly influx of Canadian shoppers, tourists etc.
The US has been on a spending binge for 14 years. The last 7, an increase of over 9 trillion in National Debt. What has our economy accomplished? Govt spending still growing over 5% per year, stagnant wages, crappy growth in GDP. It is obvious to any rational person that there is a point where Govt spending/mandates goes on the wrong side of the Bell Curve. We are on the wrong side today.
I hate to be gloom and doom, but the protracted downturn in energy and ag is going to bite hard. The Fed has no arrows in its quiver, govt is already spending wildly and has been.
Canada can think the increased spending is going to accomplish something, but I think history will repeat itself and it will take another Mulrooney to right their ship in the future.
As far as the USA righting its ship? I am not sure it is possible anymore.
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Post by sigurdur on Mar 24, 2016 14:28:36 GMT
The last time Canada lost its way, it was in a protracted recession, almost depression, for years. Mulrooney became PM. He cut, and I mean actually CUT Canada's spending, and the economy up there started growing. Their dollar became approx 20% stronger than the US dollar. Cross border traffic went on a binge, new hotels were built in Grand Forks and Fargo to service the huge weekly influx of Canadian shoppers, tourists etc. The US has been on a spending binge for 14 years. The last 7, an increase of over 9 trillion in National Debt. What has our economy accomplished? Govt spending still growing over 5% per year, stagnant wages, crappy growth in GDP. It is obvious to any rational person that there is a point where Govt spending/mandates goes on the wrong side of the Bell Curve. We are on the wrong side today. I hate to be gloom and doom, but the protracted downturn in energy and ag is going to bite hard. The Fed has no arrows in its quiver, govt is already spending wildly and has been. Canada can think the increased spending is going to accomplish something, but I think history will repeat itself and it will take another Mulrooney to right their ship in the future. As far as the USA righting its ship? I am not sure it is possible anymore. Funny how we can look at the debt they have and chuckle, heck what are they talking about 20 billion? We'll rack that amount up in one week One can only wish it took a whole week to rack up $20 Billion Code. This Fiscal Year we are averaging closer to $40 Billion a week. The horrible thing is, the increased trajectory shows no sign of slowing down.
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Post by sigurdur on Mar 24, 2016 14:30:36 GMT
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Post by sigurdur on Mar 24, 2016 20:06:14 GMT
$43,169,108,312.07
Fourty Three BILLION, One hundred eight million, three hundred twelve dollars and twenty cents..........
Per week!!!!
That is our current US borrowing requirements!
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Post by sigurdur on Mar 25, 2016 18:12:31 GMT
WowWWWWWW
$19.2 TRILLION on the 23rd day of March, 2016.
Yet, our President is silent.
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Post by sigurdur on Mar 28, 2016 0:44:14 GMT
Yep. Sure looks like it will break 20 trillion before President Obama leaves office.
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Post by sigurdur on Mar 28, 2016 14:00:18 GMT
CBO Report www.cbo.gov/publication/50250The long-term outlook for the federal budget has worsened dramatically over the past several years, in the wake of the 2007–2009 recession and slow recovery. Between 2008 and 2012, financial turmoil and a severe drop in economic activity, combined with various policies implemented in response to those conditions, sharply reduced federal revenues and increased spending. As a result, budget deficits rose: They totaled $5.6 trillion in those five years, and in four of the five years, they were larger relative to the size of the economy than they had been in any year since 1946. Because of the large deficits, federal debt held by the public soared, nearly doubling during the period. It is now equivalent to about 74 percent of the economy’s annual output, or gross domestic product (GDP)—a higher percentage than at any point in U.S. history except a seven-year period around World War II. If current law remained generally unchanged in the future, federal debt held by the public would decline slightly relative to GDP over the next few years, CBO projects. After that, however, growing budget deficits—caused mainly by the aging of the population and rising health care costs—would push debt back to, and then above, its current high level. The deficit would grow from less than 3 percent of GDP this year to more than 6 percent in 2040. At that point, 25 years from now, federal debt held by the public would exceed 100 percent of GDP.
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Post by sigurdur on Mar 28, 2016 22:52:29 GMT
$19,214,929,969,878.51
3/25/16
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