Now it's clear to me...

[GB Vette]

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[lspencer534]

I've seen that before, but it doesn't diminish the importance of it. Our politicians (and we) are just ignoring the real problem we have: Spending. It will very soon become painfully evident that what we have been doing is just a sham. We will be paying almost as much interest on our debt as we are taking in each year. This sounds far-fetched, but our interest payments on debt will be 61% in 2040. That leaves 39% to fund defense, education, Social Security, Medicare, Medicaid, and all other programs. Can that be done? Of course not.

[dwjz06]

Thanks for clearing that up:cert: uh answer to part two. Clear the chit please:D:lol:

[DAB]

Appears congress thinks the answer is to buy another house.

[FasterTraffic]

It doesn't get much clearer than that. (Unless you're spending someone else's money, in which case it's not important.)

[CP]

... (and we) ...

Ummmmm, NO. I have been voting for the correct thing to be done for YEARS. Unless you have a mouse in your pocket, don't use the plural first person pronoun to include ME.

[FasterTraffic]

I've seen that before, but it doesn't diminish the importance of it. Our politicians (and we) are just ignoring the real problem we have: Spending. It will very soon become painfully evident that what we have been doing is just a sham. We will be paying almost as much interest on our debt as we are taking in each year. This sounds far-fetched, but our interest payments on debt will be 61% in 2040. That leaves 39% to fund defense, education, Social Security, Medicare, Medicaid, and all other programs. Can that be done? Of course not.

I also wonder how many people understand that if the Chinese own a large portion of our debt, our interest payments are likely going toward funding their military. How about instead of cutting our military budget, we tackle the debt and cut China's military budget?

[Sea Six]

[Joecoool] This administration's for it? FULL SPEED AHEAD!!!!! [/joewhatever]

[Sea Six]

Standing by for Phil to tell us what's correct about the scenario described in the OP.

http://www.thevettebarn.com/forums/members/sea+six-albums-crap-picture1358-skeletonpopcorn.jpg

[John Wiz]

It doesn't get much clearer than that. (Unless you're spending someone else's money, in which case it's not important.)

So very true,,,

But the killer is, so many of the talking heads say that you can't equate personal debt to the countries debt. BS, someone holds that debt, the government is spending more than it takes in, and owe that money to someone else. At some point, it has to be paid back. I don't see a difference.

[Craig]

So very true,,,

But the killer is, so many of the talking heads say that you can't equate personal debt to the countries debt. BS, someone holds that debt, the government is spending more than it takes in, and owe that money to someone else. At some point, it has to be paid back. I don't see a difference.

If the family could convince an investor to continue to loan them money even though there's no hope that it could be paid back, then it gets closer; if the family could pass laws that it can take more and more of the money their kids earn, at gun point if necessary, it gets even closer.

[VatorMan]

Because a WalMart cashier DESERVES an iPhone 5 and an LCD TV. That's why.

[Sea Six]

So very true,,,

But the killer is, so many of the talking heads say that you can't equate personal debt to the countries debt. BS, someone holds that debt, the government is spending more than it takes in, and owe that money to someone else. At some point, it has to be paid back. I don't see a difference.

Another marked difference is that the family can't print money out of thin air to try and get itself out of trouble. Well, not legally anyway... like the US gov can.

:sadangel:

[Olustee bus]

Appears congress thinks the answer is to buy another house.

No, unfortunately, congress thinks it should buy everyone a house who can't afford a house. Even if they will not work for it. It is everyones right.

Therein lies the problem. And now, those who have paid for all this crap now will not be able to get what is rightfully theirs.

And, their children will have to pay the debt it causes.

[jaxgator]

And, their children, and their children's children and their children's children's children will have to pay the debt it causes.

FIFY :mad: