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National Debt service; the ticking time bomb - LeFlâneur - 04-11-2017 11:45 AM
While Obby was adding to the national debt faster than any previous administration, he benefited from historically low interest rates. Now that interest rates are rising again, we can expect an insidious impact on the federal budget.
To be fair, Obby probably assumed this would be Hillary's problem so it isn't necessarily a partisan issue.
Nonetheless, the CBO has reported that net interest payments have risen 22% in the last half of fiscal 2017, which only reflects one 25 basis point increase. Since the fed has already raised rates this year, with the promise of more to come, the debt service could skyrocket in future years.
Thanks Obama.
(Sorry for not supplying a link but links to the Wall Street Journal don't work. Don't know why but it has happened several times in the last week Just Google Wall Street Journal Opinion to go to the site.)
RE: National Debt service; the ticking time bomb - UofMTigerTim - 04-11-2017 11:49 AM
We are defiantly screwed when it comes to the national debt.
I fear the only way the debt will every get resolved is either:
A. Complete financial meltdown
B. World War
RE: National Debt service; the ticking time bomb - Redwingtom - 04-11-2017 12:01 PM
Here's the link, but you need to be a subscriber to read it.
https://www.wsj.com/articles/obamas-debt-interest-bomb-1491865888
It will first take you to that advertiser page, but a link to the article should be at the top right.
RE: National Debt service; the ticking time bomb - LeFlâneur - 04-11-2017 12:26 PM
(04-11-2017 12:01 PM)Redwingtom Wrote: Here's the link, but you need to be a subscriber to read it.
https://www.wsj.com/articles/obamas-debt-interest-bomb-1491865888
It will first take you to that advertiser page, but a link to the article should be at the top right.
Thanks. That's what I've been getting but didn't notice the "skip ad" part.
RE: National Debt service; the ticking time bomb - UTSAMarineVet09 - 04-11-2017 12:28 PM
Thanks oblunder!
RE: National Debt service; the ticking time bomb - Redwingtom - 04-11-2017 12:31 PM
The sooner we agree that the debt is a problem that knows no party, the sooner we might actually come up with a plan to effectively reduce it.
RE: National Debt service; the ticking time bomb - UofMstateU - 04-11-2017 12:32 PM
(04-11-2017 12:31 PM)Redwingtom Wrote: The sooner we agree that the debt is a problem that knows no party, the sooner we might actually come up with a plan to effectively reduce it.
Knows no party? Captain ShitTurd racked up half of our entire historical debt in his 8 year legacy.
RE: National Debt service; the ticking time bomb - LeFlâneur - 04-11-2017 12:37 PM
(04-11-2017 12:31 PM)Redwingtom Wrote: The sooner we agree that the debt is a problem that knows no party, the sooner we might actually come up with a plan to effectively reduce it.
Frankly, neither party wants to deal with this issue. The closest anyone in DC gets to being serious about it is the Freedom Caucus.
Obby had a chance with the Simpson-Bowles to do something but couldn'tt bring himself to do it.
RE: National Debt service; the ticking time bomb - Redwingtom - 04-11-2017 12:39 PM
(04-11-2017 12:37 PM)LeFlâneur Wrote:(04-11-2017 12:31 PM)Redwingtom Wrote: The sooner we agree that the debt is a problem that knows no party, the sooner we might actually come up with a plan to effectively reduce it.
Frankly, neither party wants to deal with this issue. The closest anyone in DC gets to being serious about it is the Freedom Caucus.
Obby had a chance with the Simpson-Bowles to do something but couldn'tt bring himself to do it.
But it's still a function of Congress who controls the purse strings. The president can lead the horse to the water if he wants, but he can't make Congress drink.
RE: National Debt service; the ticking time bomb - Kronke - 04-11-2017 12:41 PM
More debt in 8 years than the previous 232 combined. Disgrace!
RE: National Debt service; the ticking time bomb - LeFlâneur - 04-11-2017 12:47 PM
(04-11-2017 12:39 PM)Redwingtom Wrote:(04-11-2017 12:37 PM)LeFlâneur Wrote:(04-11-2017 12:31 PM)Redwingtom Wrote: The sooner we agree that the debt is a problem that knows no party, the sooner we might actually come up with a plan to effectively reduce it.
Frankly, neither party wants to deal with this issue. The closest anyone in DC gets to being serious about it is the Freedom Caucus.
Obby had a chance with the Simpson-Bowles to do something but couldn'tt bring himself to do it.
But it's still a function of Congress who controls the purse strings. The president can lead the horse to the water if he wants, but he can't make Congress drink.
No doubt but he still has to set the tone, if not the agenda.
But you're right. No one in Congress can hope to tackle entitlements since it is a career killer. No one wants to give up pork because that gets them re-elected. It's the way it is.
RE: National Debt service; the ticking time bomb - Hood-rich - 04-11-2017 12:54 PM
(04-11-2017 12:28 PM)UTSAMarineVet09 Wrote: Thanks oblunder!
C'mon man. This has been brewing forever. Granted he added A LOT to it.
RE: National Debt service; the ticking time bomb - UTSAMarineVet09 - 04-11-2017 12:58 PM
(04-11-2017 12:54 PM)Hood-rich Wrote:(04-11-2017 12:28 PM)UTSAMarineVet09 Wrote: Thanks oblunder!
C'mon man. This has been brewing forever. Granted he added A LOT to it.
a lot? he doubled the debt!
RE: National Debt service; the ticking time bomb - Redwingtom - 04-11-2017 01:06 PM
Obama did not do this in a vacuum. The debt is a giant snow ball rolling down hill. The longer it rolls the more it exponentially increases in size due to the interest payments as we continue to carry a budget deficit each and every year.
We've already documented the myraid reasons why the spending was needed in the beginning of his presidency. And couple that with the unpaid wars and unpaid tax cuts...economy in the crapper...and the ball just keeps rolling.
RE: National Debt service; the ticking time bomb - UofMstateU - 04-11-2017 01:12 PM
(04-11-2017 01:06 PM)Redwingtom Wrote: Obama did not do this in a vacuum.
He did it when he had a supermajority in the house and a filibuster proof senate.
RE: National Debt service; the ticking time bomb - Hood-rich - 04-11-2017 01:18 PM
(04-11-2017 12:58 PM)UTSAMarineVet09 Wrote:(04-11-2017 12:54 PM)Hood-rich Wrote:(04-11-2017 12:28 PM)UTSAMarineVet09 Wrote: Thanks oblunder!
C'mon man. This has been brewing forever. Granted he added A LOT to it.
a lot? he doubled the debt!
True but that doesn't excuse everybody before him. All that said, here's an interesting nugget. There are a lot of nations that need to pay up.
I can't find the link right now but IIRC if EVERYBODY paid up to the USA tomorrow we could wipe out almost 2/3 of our national debt.
Also interesting is that we really aren't close in terms of debt per person.
https://en.wikipedia.org/wiki/List_of_countries_by_external_debt
We're ranked #19 in terms of $$$ / citizen. For example, Irish owe about 10 times as much as we do per person to somebody. LOL.
![[Image: finder-map_PER-PERSON-DEBT_final2.jpg]](http://www.businessfirstmagazine.com.au/wp-content/uploads/2014/11/finder-map_PER-PERSON-DEBT_final2.jpg)
![[Image: finpernation.jpg]](https://www.finder.com.au/wp-content/uploads/2014/11/finpernation.jpg)
If all these countries are in debt who's the lender? Bottom line is that the world economy is one big shell game / ponzi scheme.
RE: National Debt service; the ticking time bomb - Redwingtom - 04-11-2017 01:30 PM
(04-11-2017 01:12 PM)UofMstateU Wrote:(04-11-2017 01:06 PM)Redwingtom Wrote: Obama did not do this in a vacuum.
He did it when he had a supermajority in the house and a filibuster proof senate.
Wrong.
Quote:1. 1/07 – 12/08 – 51-49 – Ordinary Majority.The Myth of the Democratic Super Majority
2. 1/09 – 7/14/09 – 59-41 – Ordinary Majority. (Coleman/Franklin Recount.)
3. 7/09 – 8/09 – 60-40 – Technical Super Majority, but since Kennedy is unable to vote, the Democrats can’t overcome a filibuster
4. 8/09 – 9/09 – 59-40 – Ordinary Majority. (Kennedy dies)
5. 9/09 – 10/09 – 60-40 – Super Majority for 11 working days.
6. 1/10 – 2/10 – 60-40 – Super Majority for 13 working days
Total Time of the Democratic Super Majority: 24 Working days.
Yes...it's a partisan source...so if you're still willing to argue, argue against facts and not the source.
RE: National Debt service; the ticking time bomb - UofMstateU - 04-11-2017 02:51 PM
(04-11-2017 01:30 PM)Redwingtom Wrote:(04-11-2017 01:12 PM)UofMstateU Wrote:(04-11-2017 01:06 PM)Redwingtom Wrote: Obama did not do this in a vacuum.
He did it when he had a supermajority in the house and a filibuster proof senate.
Wrong.
Quote:1. 1/07 – 12/08 – 51-49 – Ordinary Majority.The Myth of the Democratic Super Majority
2. 1/09 – 7/14/09 – 59-41 – Ordinary Majority. (Coleman/Franklin Recount.)
3. 7/09 – 8/09 – 60-40 – Technical Super Majority, but since Kennedy is unable to vote, the Democrats can’t overcome a filibuster
4. 8/09 – 9/09 – 59-40 – Ordinary Majority. (Kennedy dies)
5. 9/09 – 10/09 – 60-40 – Super Majority for 11 working days.
6. 1/10 – 2/10 – 60-40 – Super Majority for 13 working days
Total Time of the Democratic Super Majority: 24 Working days.
Yes...it's a partisan source...so if you're still willing to argue, argue against facts and not the source.
Instead of arguing the number of days of the supermajority, why dont you take a look and see what was passed during those times of supermajorities which caused the debt to skyrocket.
MUH SUPERMAJORITY!
RE: National Debt service; the ticking time bomb - Redwingtom - 04-11-2017 03:02 PM
(04-11-2017 02:51 PM)UofMstateU Wrote:(04-11-2017 01:30 PM)Redwingtom Wrote:(04-11-2017 01:12 PM)UofMstateU Wrote:(04-11-2017 01:06 PM)Redwingtom Wrote: Obama did not do this in a vacuum.
He did it when he had a supermajority in the house and a filibuster proof senate.
Wrong.
Quote:1. 1/07 – 12/08 – 51-49 – Ordinary Majority.The Myth of the Democratic Super Majority
2. 1/09 – 7/14/09 – 59-41 – Ordinary Majority. (Coleman/Franklin Recount.)
3. 7/09 – 8/09 – 60-40 – Technical Super Majority, but since Kennedy is unable to vote, the Democrats can’t overcome a filibuster
4. 8/09 – 9/09 – 59-40 – Ordinary Majority. (Kennedy dies)
5. 9/09 – 10/09 – 60-40 – Super Majority for 11 working days.
6. 1/10 – 2/10 – 60-40 – Super Majority for 13 working days
Total Time of the Democratic Super Majority: 24 Working days.
Yes...it's a partisan source...so if you're still willing to argue, argue against facts and not the source.
Instead of arguing the number of days of the supermajority, why dont you take a look and see what was passed during those times of supermajorities which caused the debt to skyrocket.
MUH SUPERMAJORITY!
Why don't you, since you made the claim? And specifically cite which bill added what to the national debt.
MUH PESKY FACTS.
RE: National Debt service; the ticking time bomb - solohawks - 04-11-2017 03:08 PM
They had enough time with a supermajority to pass Obamacare