Posted on 09/11/2012 5:47:51 AM PDT by Perdogg
German Finance Minister Wolfgang Schaeuble questioned on Tuesday how the United States could deal with its high levels of government debt after November's presidential election.
(Excerpt) Read more at reuters.com ...
To Germany's credit, they did pay debts and reparations into the 1970's for WWII. I don't know if they paid it all, but they did get some healthy invoices from the US.
My father received a check from the German Government in the late 70s for reparations due for ancestors seized assets that were executed in concentration camps.
Note to self: Ask Dad for more details on what that was all about.
It’s all about the pork
It’s all about the pork
As I recall, under GWB we almost did that once. Germany squeeled about Americas Imperial precence in Germany/Europe, GWB said ok then.....
"We are just kidding. Stay as long as you'd like. Sorry about that...."
How much of that debt was due to The Marshall Plan?
Boy, that achieves an almost British level of understatement.
Moody’s expects to cut US rating without deal to lower debt/GDP ratio (on Drudge today).
When Socialist Eurpeans are telling you your debt is too high, you need to probably start thinking that just maybe, your debt is too high.
Hey Wolfgang, if bam wins, we are utterly and completely toast. It won’t matter. The best of the best and the free thinking minds will be at a minimum silenced, at worst silenced permanently.
SOURCE:
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Increasing America ‘s debt weakens us domestically and internationally. Leadership means that, “the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”
*** ~> Senator Barack H. Obama, MARCH 2006
We could replace all our coal, natural gas and nuke plants with brand new Solyndra solar panels.
Demand they all be manufactured here and paid for by the government. Of course we'd have to shut down the country at night and on cloudy days. And the national debt would double.
But at least we'd be making more stuff. Temporarily.
Military adding more electric vehicles to fleetI wonder how much this decreased our debt?
Making things generates revenue, which is taxed. Of course, entitlement reform will be the most important thing of all. If Obama wins another term (a scary thought), that won’t happen.
Our debt is now 103% of GDP. The question from the DNC perspective is not how we intend to reduce our debt but how much we can grow it before our lenders cut us off. I honestly believe that will happen before the end of Obama’s next 4 year term if he is elected. If he is elected with Dem majorities in the House and Senate as well the ratings agencies will rapidly reduce our credit ratings to junk before the next congressional elections.
Fantastic! You just increased tax revenue by $1.00, and the government spent all $1.40 of it! Wait a minute, how does making things decrease debt?
The only approach is to starve the beast by cutting spending, not to gorge it with revenues even if those revenues come from growth. Congress will spend every penny the taxpayer sends it and then some.
But that is never the intent of the person who makes the comment that we need to make more things. Because they always leave the most important part out.
We know, we know.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.