That's where I've seen the smoke and mirrors from many who gather and massage numbers, and that's what has me perplexed as to the data in a lot of posts and places.
IMHO, from what I've seen, we're heading into the down side of the next economic cycle and we've had that before, but never with oil, energy, and food costs jumping in 2 years like this based upon a percentage.
I do understand that purchasing a house represents debt assuming it will appreciate in value. Autos, though taxed as real property and still loses value, is a lot of times considered 'debt', but, more like unfunded liability (LOL!) Credit card balances are like debt, right?.
Aren't unfunded liabilities considered payouts to the by the government to recipients for like Social Security, Medicare, and Retirements? Employers have the same obligations too to their retirees (well at least in the past). T-bills, bonds, the government issues is pure debt, right??
It's been my understanding that the Treasury Department (central bank) keeps issuing the t-bills for China, Great Britain, Saudi, Japland, etc., to purchase so we can keep the pork spending going, pay for the unfunded liabilities, and fight the WOT? Miss anything? Didn't we officially (the US government) run out of it's budgeted money last month?
Interesting.....write a check, post date it before it can be cashed and hope like he$$ the money comes in from somewhere.
What's the percent GDP, right now, better yet, percent annual budget, the US has to pay or its notes coming due?
Is that debt you're talking about indexed to inflation?
Aren't unfunded liabilities considered payouts to the by the government to recipients for like Social Security, Medicare, and Retirements? Employers have the same obligations too to their retirees (well at least in the past). T-bills, bonds, the government issues is pure debt, right??
They're an agreement to pay something at a future date. They are not debt. If the country abolished social security tomorrow there would be no debt. Do you think we could sue the government for the money they owe us? Show us the debt instrument or the contract? If an employer reneges on their previous commitment to pay retirement benefits or goes bankrupt, there is no debt. Just an unfunded liability.
It's been my understanding that the Treasury Department (central bank) keeps issuing the t-bills for China, Great Britain, Saudi, Japland, etc., to purchase so we can keep the pork spending going, pay for the unfunded liabilities, and fight the WOT?
The government spends more than they take in and they have to issue bonds to pay for it. That's debt. Just like if you had to borrow money from the bank to pay your bills at the end of the month. That all has nothing to do with the government promising to pay me so much after I retire or my company promising to pay me retirement benefits that don't currently belong to me.
What's the percent GDP, right now, better yet, percent annual budget, the US has to pay or its notes coming due?
Huh?