Federal Government's Debt Jumps More Than $1T for 5th Straight Fiscal Year

[fujimoh]

By the end of the third quarter of fiscal 2012, the new debt accumulated in this fiscal year by the federal government had already exceeded $1 trillion, making this fiscal year the fifth straight in which the federal government has increased its debt by more than a trillion dollars, according to official debt numbers published by the U.S. Treasury.

Prior to fiscal 2008, the federal government had never increased its debt by as much as $1 trillion in a single fiscal year. From fiscal 2008 onward, however, the federal government has increased its debt by at least $1 trillion each and every fiscal year.

The federal fiscal year begins on Oct. 1 and ends on Sept. 30. At the close of business on Sept. 30, 2011—the last day of fiscal 2011—the total debt of the federal government was $14,790,340,328,557.15. By June 29, the last business day of the third quarter of fiscal 2012, that debt had grown to $15,856,367,214,324.44—an increase for this fiscal year of $1,066,026,885,767.29.

In the fourth quarter of fiscal 2012, the federal debt has continued to accumulate, hitting $15,874,365,457,260.40 at the close of business on Thursday, July 19—marking a total increase so far in fiscal 2012 of $1,084,025,128,703.25.

READ THE REST HERE...

http://cnsnews.com/news/article/federal-governments-debt-jumps-more-1t-5th-straight-fiscal-year

[Captain Morgan]

We're all screwed, unless they get this under control. And sadly, we'll probably all be screwed in the process of them getting it under control.

[derf]

There are a number of reasons for this, mainly due to the housing market crash of 2006 and the subsequent loss of tax collections. It took another 2 years for the actual implications of the loss of income to effect the federal government. Then the financial meltdown in 08 further exasperated the problem, however between 2014 and 15 it is expected to slow down to the point of going back down based on current private sector incomes. Once that private sector income gets taxed over the next 2-3 years the debt should start leveling off.

[EpyonXero]

If you want to cut something, start with defense. I work for the DoD and I see how much money we waste on what is pretty much just corporate welfare first hand.

[Homeslice]

If you want to cut something, start with defense. I work for the DoD and I see how much money we waste on what is pretty much just corporate welfare first hand.
It would help if politicians and industry leaders stopped claiming that a vote against their pet weapon contract is a vote against "a strong America"

We spend so much money ensuring that we are 20+ years ahead of anyone else's weaponry, meanwhile China and other nations are gaining power in totally different, less expensive ways.

[pauldun170]

...

[EpyonXero]

We spend so much money ensuring that we are 20+ years ahead of anyone else's weaponry, meanwhile China and other nations are gaining power in totally different, less expensive ways.

They do it by spying on us.

[pauldun170]

Well let's see here....
If 2/3rds the debt is from the sale of Treasury Bills, Notes and Bonds, then to fix the national debt we'll just stop selling them.
Problem solved.
Government bonds and all that other crap is supposed to be the safest investments because of the whole "USA being all boss and shit" but if if a bunch of "Liberty loving freedom folk trying to take back the country" have no confidence in the country then maybe we should just stop selling investments backed by the US government.

Tell people to by gold off the television commercial.

As for the rest of it,
We had all the fun in 2007-2009 with the stimulus and the bailouts so we'll be paying that off for a while. At least that's a one time deal...Economy tanked...government helped...life goes on.

The rest of it is military spending. Since we don't have any Nazi's to fight and military people are walking around with a big ole chip on their shoulder we should just cut all that business.
We need to be building oil fields and liberty things. We shouldn't be wasting time sending troops off to places that don't generate Micheal Bay style combat footage.

Finally we need to get that basketball loving rapper who smells like arab out of the office and replace him with someone who looks like a clean shaven version of the Jesus picture over my fireplace (casually decorated with wolves howling at the American flag covered moon plates)

[shmike]

Well let's see here....
If 2/3rds the debt is from the sale of Treasury Bills, Notes and Bonds, then to fix the national debt we'll just stop selling them.
Problem solved.
Government bonds and all that other crap is supposed to be the safest investments because of the whole "USA being all boss and shit" but if if a bunch of "Liberty loving freedom folk trying to take back the country" have no confidence in the country then maybe we should just stop selling investments backed by the US government.

Tell people to by gold off the television commercial.

As for the rest of it,
We had all the fun in 2007-2009 with the stimulus and the bailouts so we'll be paying that off for a while. At least that's a one time deal...Economy tanked...government helped...life goes on.

The rest of it is military spending. Since we don't have any Nazi's to fight and military people are walking around with a big ole chip on their shoulder we should just cut all that business.
We need to be building oil fields and liberty things. We shouldn't be wasting time sending troops off to places that don't generate Micheal Bay style combat footage.

Finally we need to get that basketball loving rapper who smells like arab out of the office and replace him with someone who looks like a clean shaven version of the Jesus picture over my fireplace (casually decorated with wolves howling at the American flag covered moon plates)

Often, your rambling fables have a point or are funny.

The above has neither and totally overlooks the largest drain on the US' balance sheet.

[pauldun170]

Often, your rambling fables have a point or are funny.

The above has neither and totally overlooks the largest drain on the US' balance sheet.

Now you are thinking with portals

[Homeslice]

mmkay

[pauldun170]

The above has neither and totally overlooks the largest drain on the US' balance sheet.

Are you going to follow up with a solution?
I came up with a solution.

If the only reason you responded to me is to start a "conversation"
F'off and post titties.
I don't want to have another fucking "conversation"

"We need to have a conversation about the federal debt"
"We need to do something about the federal debt"


bitch please....
Republicans going to spit out the same line about entitlement programs, tax cuts and that its all the democrats fault.
Democrats going to spit out the same old lines about changing tax brackets, protecting entitlement programs and republicans are to blame.
Liberfags and Tea Poops come out with their bullshit line about "Liberty\gold standard\Liberty\If only there weren't a conspiracy against Ron Paul" blah blah blah.



Getting back to you...
Do you want me to list entitlement programs to cut?
Fine - I don't see much value in cutting temporary assistanmce programs so I'm cutting the big one.
Medicare - fuck you retirees. you are the biggest leach on society.

[Homeslice]

:lol:

[shmike]

Are you going to follow up with a solution.
I came up with a solution.

If the only reason you responded to me is to start a "conversation"
F'off and post titties.
I don't want to have another fucking "conversation"

"We need to have a conversation about the federal debt"
"We need to do something about the federal debt"


bitch please....
Republicans going to spit out the same line about entitlement programs, tax cuts and that its all the democrats fault.
Democrats going to spit out the same old lines about changing tax brackets, protecting entitlement programs and republicans are to blame.
Liberfags and Tea Poops come out with there bullshit line about "Liberty\gold standard\Liberty\If only there weren't a conspiracy against ron Paul" blah blah blah.



Getting back to you...
Do you want me to list entitlement programs to cut?
Fine - I don't see much value in cutting temporary assistanmce programs so I'm cutting the big one.
Medicare - fuck you retirees. you are the biggest leach on society.

I can't take you seriously after that first post.

What red blooded American doesn't like wolves howling at the American flag covered moon plates?

Love it or leave it, Paul.

[pauldun170]

I can't take you seriously after that first post.

What red blooded American doesn't like wolves howling at the American flag covered moon plates?

Love it or leave it, Paul.

Thanks man...
I totally missed some of those punctuation issues. If it weren't for you, that there\their mistake would have been there for eternity.

[Homeslice]

wtf is a moon plate

[pauldun170]

wtf is a moon plate

Read as
"Wolves howling at the American flag covered moon" plates

[pauldun170]

I would like everyone to know that the only reason why my grammar is so bad is because I am dumbfounded that our debt is so high.
It truly is dicking rifuckulous.

[udman]

I was just thinking the other day, that we haven't had a good political argument in here for a really long time. Today I am reminded why...

[pauldun170]

I was just thinking the other day, that we haven't had a good political argument in here for a really long time. Today I am reminded why...

If you want, I could start some quality threads.
Only if you want to though.
I don't want to pressure you into anything.

[udman]

If you want, I could start some quality threads.
Only if you want to though.
I don't want to pressure you into anything.

Ok. Start a thread in this subforum that generates at least 10 responses from 10 different people in less than 2 hours. You cannot use sex/boobies/pron related words in the thread title and all responses must be more than 3 words. Do that, and you win this...

http://skreened.com/render-product/u/z/e/uzeameqafgobaawcqvtk/rainbow-name-paul-t-shirt.american-apparel-unisex-fitted-tee.white.w760h760.jpg

[pauldun170]

:lol:
10 post by 10 people?
That's the total traffic for this site per week!

[askmrjesus]

I'll likely be dead in the next twenty years.

I don't have kids, and I don't particularly like yours.

Fuck the debt, I don't care.

JC

[fujimoh]

I would like everyone to know that the only reason why my grammar is so bad is because I am dumbfounded that our debt is so high.
It truly is dicking rifuckulous.

I thought it was because you were educated in government schools

[pauldun170]

I thought it was because you were educated in government schools

Our local schools are excellent.

[askmrjesus]

Our local schools are excellent.

You only think that because the Government put fluoride in your water, and turned you into a gay commie.

JC

[fujimoh]

You only think that because the Government put fluoride in your water, and turned you into a gay commie.

JC

Oh, no! I don't drink government water, I pump my water out of the ground and treat it myself, don't you? How would you know if I was a gay commie, unless you been attending the meetings at your local chapter?

[askmrjesus]

Oh, no! I don't drink government water, I pump my water out of the ground and treat it myself, don't you? How would you know if I was a gay commie, unless you been attending the meetings at your local chapter?

That was for Paul.

You're not the brightest crayon in the box, are you? :lol:

JC

[fujimoh]

I am reaching to be the sharpest light in the hall

[derf]

Oh, no! I don't drink government water, I pump my water out of the ground and treat it myself, don't you? How would you know if I was a gay commie, unless you been attending the meetings at your local chapter?

put on your tinfoil hat

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

[Smittie61984]

Tell people to by gold off the television commercial.



Gold currency I'm sure would be a relief to Obama's basement photocopier.

[askmrjesus]

I am reaching to be the sharpest light in the hall

Good for you.

Everyone should have a goal in life.

JC

[fujimoh]

put on your tinfoil hat

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


Fracking is not really a feasible method where I live, so it is of less concern. My well is less than 200 feet down to get into the aquifer. Our worry here is more from septic tanks and the spray fields the gubment utilities use. Bay County tells me my septic system is a danger, while they spray thousands of gallons of effluent directly on the ground daily from their sewer plants on the "farm" they operate.

[derf]

Just pointing out that your well water may not b4 as safe as you think it is

[fujimoh]

Just pointing out that your well water may not b4 as safe as you think it is


I send a sample to the lab every year for testing. no problems yet. The water tastes so much better than city water, plus I'm saving about $100 a month having a well and septic