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The federal debt is worse than you think (210 Trillion)
Brookings Institute ^ | 04/08/2015 | Ron Haskins

Posted on 04/09/2015 4:31:35 PM PDT by Kid Shelleen

Debt figures tell part of the story. When the Great Recession hit, the federal debt was equal to about 40 percent of GDP. But to fight the recession, Congress enacted an $800 billion dollar stimulus bill. Stimulus spending, combined with already enacted spending and tax policy, resulted in four years of trillion dollar deficits. As a result, the debt ballooned to 78 percent of GDP in 2013, almost twice the pre-recession level. --snip-- What's the word for our fiscal situation? Stunning? Shocking? Desperate? In recent testimony before the Senate Budget Committee, Boston University Economics Professor Laurence Kotlikoff, in effect, told the Committee that all of these terms are pathetically inadequate to describe our true fiscal situation.

(Excerpt) Read more at brookings.edu ...


TOPICS: News/Current Events
KEYWORDS: debt; kotlikoff; laurencekotlikoff
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To: Kid Shelleen; All
Anyone who thinks the US Taxpayer is going to pay the $18 trillion debt is smoking the good stuff.

Anyone who thinks we are going to pay $210 trillion in committed obligations is just plain stupid.

21 posted on 04/09/2015 6:48:14 PM PDT by Mariner (War Criminal #18)
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To: Mariner
To put these numbers in perspective: 1 million seconds is 11 1/2 days : 1 billion seconds is 32 years : 1 trillion seconds is 32,000 years Good luck everyone...
22 posted on 04/09/2015 6:53:12 PM PDT by hal ogen (First Amendment or Reeducation Camp?)
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To: EagleUSA
Buy gold and silver.

Agree. We're in for a major reset of the currency. It's either that, or a huge international collapse of monetary systems. Gold and silver will be revalued higher against the dollar, with an instant drop in the current value of dollars to little value - instant write-off of federal debt. A lot of people will go on a buying binge, at least those with dollars to get rid of. People without dollars will panic, pillage and steal. It's a repeat of the Jimmy Carter years, but a hundred times worse. Probably will explode around September this year.

23 posted on 04/09/2015 7:13:53 PM PDT by roadcat
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To: Kid Shelleen

The interesting part of this is not the information. We’ve known that for quite a while.

The interesting thing is the source: The uber LIBERAL Brookings Institute!

Can it be that even liberals are beginning to notice?


24 posted on 04/09/2015 7:27:58 PM PDT by EternalHope (Something wicked this way comes. Be ready.)
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To: hal ogen
I often use that example of just how much is a trillion.

I read it in an issue of “Scientific American” years ago. The article was about “Astronomical Distances.” Time is something we can relate to so the second works well.

Those words should be chiseled into the halls of government.
Adding one billion to nine billion is not a “round off!” But our elected dumbkoffs think it is.

25 posted on 04/09/2015 7:43:42 PM PDT by BatGuano (You don't think I'd go into combat with loose change in my pocket, do ya?)
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To: BatGuano

I think I may have picked that up there also. That was before SCI AMER went LIB crazy with all the globull warming hype.


26 posted on 04/09/2015 7:50:17 PM PDT by hal ogen (First Amendment or Reeducation Camp?)
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To: Kid Shelleen; All
This might explain it in simpler terms:


27 posted on 04/09/2015 8:20:40 PM PDT by QT3.14 (What Washington Needs is Adult Supervision - Zero, 2007 campaign)
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To: Kid Shelleen

If true is it any wonder the feds refuse an audit?
Guess i am correct when i say the whole federal gubmint sucks.


28 posted on 04/10/2015 5:44:07 AM PDT by Joe Boucher ( Obammy is a lie, a mooselimb and pond scum.)
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