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Spare Parts
For non-modeling topics and those without a home elsewhere.
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Write a Check?
grayghost666
#021
Member Since: August 02, 2007
entire network: 2,458 Posts
KitMaker Network: 163 Posts
Posted: Saturday, September 20, 2008 - 03:44 PM UTC
hello all,
i just watched a neat program about the US National Debt produced in 2006.
so i thought to look up the National Debt,and it is $9.7 Trillion dollars and growing at a rate of $1.25 Billion dollars a day.
to get rid of the Debt,every Man,Woman and Child needs to write a check for $27,000.00.
just a interesting fact i found and thought to see what you think.
remember,no political remarks!!
cheers,
Bruce
captfue
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Texas, United States
Member Since: September 02, 2006
entire network: 785 Posts
KitMaker Network: 210 Posts
Posted: Saturday, September 20, 2008 - 04:44 PM UTC
Ok Bruce my checks in the mail should arrive by the time the dept reaches 20 trillion. You didn't say I couldn't comment on the Postal Service.
Sabot
Member Since: December 18, 2001
entire network: 12,596 Posts
KitMaker Network: 2,557 Posts
Posted: Saturday, September 20, 2008 - 05:55 PM UTC
My younger brother's income tax withholdings are more than three times that amount annually. He pays more in taxes per year than I make in that same year, and I am a lieutenant colonel in the Army. Knock the rich all you want, but they pay a large share of our taxes. Larger than most people think.

I bet he'd jump on the offer to forego his annual income tax payment and cut a check for the $27,000.
grayghost666
#021
Member Since: August 02, 2007
entire network: 2,458 Posts
KitMaker Network: 163 Posts
Posted: Sunday, September 21, 2008 - 09:40 AM UTC
hello all,
i just thought some one should know what i found.i worst thing about the national debt is that most people in the U.S. have no idea how large it is.and that it is growing at larger every day.
cheers,
Bruce
DT61
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Ontario, Canada
Member Since: September 18, 2005
entire network: 1,226 Posts
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Posted: Tuesday, September 23, 2008 - 07:58 AM UTC
Now that would take a huge bite out of my modelling budget!! lol But it is a scary number!!

Darryl
AJLaFleche
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Massachusetts, United States
Member Since: May 05, 2002
entire network: 8,074 Posts
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Posted: Tuesday, September 23, 2008 - 08:55 AM UTC
$9.7 trillion would be a stack of $1.00 bills 32,500,243,000,000 feet tall or 188,501.4 miles.
grayghost666
#021
Member Since: August 02, 2007
entire network: 2,458 Posts
KitMaker Network: 163 Posts
Posted: Tuesday, September 23, 2008 - 11:44 AM UTC
hello all,
with the wall street bailout the debt may go up to $11.25 trillion dollars by the end of 2009.
that is a scary thought.and be they way the $27,000 owed by every man,woman and child is besides what you have to pay the government every year.
just to keep you informed.
cheers,
Bruce
calvin2000
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Colorado, United States
Member Since: July 25, 2007
entire network: 886 Posts
KitMaker Network: 174 Posts
Posted: Tuesday, September 23, 2008 - 12:31 PM UTC
If it works and we don't have another 'Great' Depression I suppose it is the lesser of two evils and if it doesn't then I don't think it will matter.
UncaBret
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Illinois, United States
Member Since: May 11, 2008
entire network: 767 Posts
KitMaker Network: 89 Posts
Posted: Tuesday, September 23, 2008 - 03:16 PM UTC
From: Minister of the Treasury Paulson
Subject: REQUEST FOR URGENT CONFIDENTIAL BUSINESS RELATIONSHIP

Dear American:

I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.

I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 800 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.

I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s. This transactin is 100% safe.

This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.

Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to [email protected] so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.

Yours Faithfully Minister of Treasury Paulson
Bratushka
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Indiana, United States
Member Since: May 09, 2008
entire network: 1,019 Posts
KitMaker Network: 332 Posts
Posted: Wednesday, September 24, 2008 - 10:01 AM UTC

Quoted Text

From: Minister of the Treasury Paulson
Subject: REQUEST FOR URGENT CONFIDENTIAL BUSINESS RELATIONSHIP

Dear American:

I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.

I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 800 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.

I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s. This transactin is 100% safe.

This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.

Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to [email protected] so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.

Yours Faithfully Minister of Treasury Paulson


Sheer genius!!!
!!!!!!!!!
pigsty
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United Kingdom
Member Since: January 16, 2007
entire network: 1,226 Posts
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Posted: Wednesday, September 24, 2008 - 10:10 PM UTC
Two things I've always wondered about national debts. One, who do they borrow it from?

And two: your Govt knows it can't possibly pay back all the money. The lenders know that too, and they know that the Govt knows it. The Govt knows that the lenders know that it knows it can't pay them back. The lenders haven't gone bankrupt and can clearly live without the money. They may use it as virtual funds in their own business dealings, but the people they're doing business with know as well as the lenders do that the money can never be paid back and so may as well not exist. So with all this, why doesn't everyone just ignore it ... ?

They don't call economics the dismal science for nothing, you know.
HeavyArty
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Florida, United States
Member Since: May 16, 2002
entire network: 17,694 Posts
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Posted: Thursday, September 25, 2008 - 01:59 AM UTC

Quoted Text

Two things I've always wondered about national debts. One, who do they borrow it from?

And two: your Govt knows it can't possibly pay back all the money. The lenders know that too, and they know that the Govt knows it. The Govt knows that the lenders know that it knows it can't pay them back. The lenders haven't gone bankrupt and can clearly live without the money. They may use it as virtual funds in their own business dealings, but the people they're doing business with know as well as the lenders do that the money can never be paid back and so may as well not exist. So with all this, why doesn't everyone just ignore it ... ?

They don't call economics the dismal science for nothing, you know.


My thoughts exactly. Its all Monopoly Money. Thats why I don't worry about it. In my opinion, its all the doomsday naysayers crying wolf and that the sky is falling B.S.
keenan
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Indiana, United States
Member Since: October 16, 2002
entire network: 5,272 Posts
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Posted: Thursday, September 25, 2008 - 04:54 AM UTC
Some interesting (pun intended) facts over on Wiki:

http://en.wikipedia.org/wiki/United_States_public_debt

Get ready for an econ lesson...

Shaun
grayghost666
#021
Member Since: August 02, 2007
entire network: 2,458 Posts
KitMaker Network: 163 Posts
Posted: Thursday, September 25, 2008 - 08:12 AM UTC
hello all,
i just thought this thread will get people to start thinking about being in debt.to me, personal and government debt is a "house of cards".and sooner or later it will all come tumbling down.
i do not have any debt,my house is paid off,i own my cars free and clear,and i do not have any credit cards.i have a surplus of about $200.00 each month,after all my bills are paid.i put 50% of that away for emergency needs,the rest is used for my hobby needs.

this could be a "the sky is falling" scenario,but at least people are thinking and talking about it.
@Shaun,
thanks for the link,it is giving me a lot to think about.
cheers,
Bruce
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