calling in the debt - how much do you owe?

[Illumina Drathiran'ar]

Originally Posted by wellard Don't call me Sue ... my name is Wellard :fight:

Surely you can't be serious about this debt business.

[Bungleau]

Yes, I am.... and don't call me Shirley

[wellard]

Originally Posted by T-D-C Come on Wellard I have seen the boys down at Oxford Street calling you Sue on a Saturday night HEHEHEHE

No ah oh errrmmmm ... they where going to sue ... for false pretences

Anyhow I did not notice you Tim, where you wearing a new dress or something?

[wellard]

Originally Posted by Illumina Drathiran'ar Surely you can't be serious about this debt business.

Yes I am. All joking aside that is what you all owe. Scary eh

[Thoran]

Originally Posted by wellard G'day federal government debt of $9.2 Trillion = thats shocking ....but wait that's only just over $30,000 for every man, woman and child

It's a big number (too big) and needs fixing... but if you think that's bad you should realize that we're in the middle of the pack when it comes to debt vs. GDP... which is impressive given our perennial position as one of the lowest taxed developed countries:

http://www.parl.gc.ca/information/li...prb05107-e.htm

Another cool graph - this one equates the GDP of US states to those of entire nations (Australia gets to be Ohio):

http://bigpicture.typepad.com/commen...ies_gdp_a.html

Of course while that may make us Americans feel good - the fact that our currency has tanked over the last year means this isn't accurate anymore - and at the rate our government is going... it's just going to get worse.

[Thoran]

A very interesting article arguing that Politics (specifically lack of Political Competition) is behind debt buildup:

http://www.sciencedirect.com/science...756863dcace5d9

[SpiritWarrior]

Well bush family earned $923,807 in this year alone according to their income. Cheney family earned 3 million. What is wrong with that picture when the economy is in recession and the USA debt sum is higher than ever?

http://news.yahoo.com/s/ap/20080411/..._wh/taxes_bush

[VulcanRider]

SpiritWarrior, I don't really understand your point. Are you suggesting people who show some financial success during a tough economy are "bad"?

BTW, the Clintons earned more than $20 million last year, and over $100 million over the last 8 years, according to this NPR article. I wouldn't count on them to be "more in touch with the common man" than the Bush/Cheney team.

[SpiritWarrior]

Originally Posted by VulcanRider SpiritWarrior, I don't really understand your point. Are you suggesting people who show some financial success during a tough economy are "bad"? BTW, the Clintons earned more than $20 million last year, and over $100 million over the last 8 years, according to this NPR article. I wouldn't count on them to be "more in touch with the common man" than the Bush/Cheney team.

Nor would I. In retrospect, I think you did get my point then. Success is fine for those who are out for themselves. But the government officials are out for us. Not them.

[Firestormalpha]

Originally Posted by SpiritWarrior Nor would I. In retrospect, I think you did get my point then. Success is fine for those who are out for themselves. But the government officials are out for us. Not them.

In an ideal world, the government officials out be looking out for us. But for the most part, politics is just a different kind of business to them.