US Has an 'Enormous' Debt Problem: ECB Official

Discussion in 'Economics' started by nutmeg, Sep 1, 2011.

  1. To heck with the story or the details.

    What have we done with the money?

    Nothing new and exciting was built, any new infrastruture, projects you know of? If you want your kid to be an astronuat you're going to have to move to a different country.

    Fema is broke, no money now to really rebuild anything without more debt.

    We have squandered a fortune..
     
  2. Most of that wealth has been consumed by parasitic tit-suckers. And if anyone gives a shit... all of that federal money spent in that way was unconstitutional.

    And then there is the incessant warring. How stupid are we, really?

    We're much like the Romans... had the world by the ass, but our greedy politicians pissed it all away.



    :mad: :mad:
     
  3. 94% of US Tax Revenue is spent on War and defense

    interesting chart to show where money comes from and where does it go in US. It can be seen from the chart that total revenue from all taxes was $ 2.57 trillion whereas total spending $ 3.83 trillion which means there is a deficit of $1.27 Trillion. Now if we look at the pattern of the spending once again, we find that mandatory spending accounted only for $2.166 Trillion. This amount is still less than the total revenues. So that means US is making unnecessary use of its discretionary spending which causing the high deficits. US spent $1.415 Trillion on Defense and other discretionary.
    http://www.wealthson.com/1540/94-of-us-tax-revenue-is-spent-on-war-and-defense
     
  4. heeyyy..
    but american people are happy to spend all their taxes on defense.
    so scared about the evil terrorists!
     
  5. shfly

    shfly


    Interest on our debt is...$251B...and as was said above, the politicians keep bickering...but I guess that's what we want, since our politicians are a reflection of the people...
     
  6. Not really. What we have is a reflection of constant politician lies and false promises... coupled with the Pavlovian response of sheeple indoctrinated by the MSM, mostly through TV.

    You can't possibly imagine we'd have these same assholes running the show, driving/spending America into the dirt, if most Americans were able to think for themselves, can you?
     
  7. I often wondered what the cost of building a road really is if you stripped out all of the taxes.

    Not sure I am making sense here, maybe someone could help me out.

    Say you took the price of a steel I beam for a bridge, you have taxes on the corp, taxes on the fuel to transport it, probably dozens of other hidden taxes in the cost of making it and putting it in place. If you stripped out every cent of taxes paid to put it in place, I wonder what the base cost of production might be. I think we might be surprised.
     
  8. nutmeg- the cost to produce a barrell of oil is $2.

    guess how much anything will cost with oil at $3/brl.

    lets add 50% profit margin to our beloved oil companies.
     
  9. without taxes who pays for building the road?
     
  10. Turnpike trusts.
     
    #10     Sep 1, 2011