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#21
08-16-2007, 05:13 AM
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Re: FT issues warning......U.S. a \"burning platform\".
[ QUOTE ]
[ QUOTE ] cmon, whats the debt anyway? One, maybe TWO billion? [/ QUOTE ] Which debt? Cant think of a single debt index that is as low as 2 billion. Closer to 2 Trillion is more likely. [/ QUOTE ] U.S. NATIONAL DEBT CLOCK The Outstanding Public Debt as of 16 Aug 2007 at 09:10:57 AM GMT is: $ 8,976,236,462,524.48 [that would be trillion or.. s**t.. I cant count that high!!] The estimated population of the United States is 302,720,287 so each citizen's share of this debt is $29,651.92. The National Debt has continued to increase an average of $1.46 billion per day since September 29, 2006! Concerned? Then tell Congress and the White House! Best get crackin on those SNGs boys... LOL [img]/images/graemlins/grin.gif[/img] 
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#22
08-16-2007, 07:02 AM
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Re: FT issues warning......U.S. a \"burning platform\".
[ QUOTE ]
[ QUOTE ] [ QUOTE ] cmon, whats the debt anyway? One, maybe TWO billion? [/ QUOTE ] Which debt? Cant think of a single debt index that is as low as 2 billion. Closer to 2 Trillion is more likely. [/ QUOTE ] U.S. NATIONAL DEBT CLOCK The Outstanding Public Debt as of 16 Aug 2007 at 09:10:57 AM GMT is: $ 8,976,236,462,524.48 [that would be trillion or.. s**t.. I cant count that high!!] The estimated population of the United States is 302,720,287 so each citizen's share of this debt is $29,651.92. The National Debt has continued to increase an average of $1.46 billion per day since September 29, 2006! Concerned? Then tell Congress and the White House! Best get crackin on those SNGs boys... LOL [img]/images/graemlins/grin.gif[/img] [/ QUOTE ] US annual GDP in current dollars was $13,194,700,000,000 for 2006. if you use the marginal tax rate from federal tax returns in 2005, which was 22.3%, that leaves the IRS with an annual revenue last year of $2,942,400,000,000 (yes, thats trillion or some sh*t, wait i can't count that high) so you're telling me the national debt is only 3.1x federal revenues? heh, not too shabby. <font color="white"> if you couldn't tell this post is tounge in cheek. just making fun of previous poster. in reality, the fact that the govt actually spends more than 2.942trillion is pretty important. the debt wouldn't be a massive deal if we would have an income of 10-20% of revenues or so. but we don't ...</font> Barron
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#23
08-16-2007, 05:14 PM
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Re: FT issues warning......U.S. a \"burning platform\".
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] cmon, whats the debt anyway? One, maybe TWO billion? [/ QUOTE ] Which debt? Cant think of a single debt index that is as low as 2 billion. Closer to 2 Trillion is more likely. [/ QUOTE ] U.S. NATIONAL DEBT CLOCK The Outstanding Public Debt as of 16 Aug 2007 at 09:10:57 AM GMT is: $ 8,976,236,462,524.48 [that would be trillion or.. s**t.. I cant count that high!!] The estimated population of the United States is 302,720,287 so each citizen's share of this debt is $29,651.92. The National Debt has continued to increase an average of $1.46 billion per day since September 29, 2006! Concerned? Then tell Congress and the White House! Best get crackin on those SNGs boys... LOL [img]/images/graemlins/grin.gif[/img] [/ QUOTE ] US annual GDP in current dollars was $13,194,700,000,000 for 2006. if you use the marginal tax rate from federal tax returns in 2005, which was 22.3%, that leaves the IRS with an annual revenue last year of $2,942,400,000,000 (yes, thats trillion or some sh*t, wait i can't count that high) so you're telling me the national debt is only 3.1x federal revenues? heh, not too shabby. <font color="white"> if you couldn't tell this post is tounge in cheek. just making fun of previous poster. in reality, the fact that the govt actually spends more than 2.942trillion is pretty important. the debt wouldn't be a massive deal if we would have an income of 10-20% of revenues or so. but we don't ...</font> Barron [/ QUOTE ] But the growth on the debt is far outpacing the growth of the GDP and the fed tax revenue.
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#24
08-16-2007, 07:31 PM
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Re: FT issues warning......U.S. a \"burning platform\".
We need to export our high quality weed to the rest of the world. Hello, trade surplus and strong dollar.
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#25
08-16-2007, 09:59 PM
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Re: FT issues warning......U.S. a \"burning platform\".
Were toast........
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#27
08-17-2007, 03:14 PM
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Re: FT issues warning......U.S. a \"burning platform\".
The growth in tax revenue this year is certainly ahead of the rate of growth of debt.
All that matter is if our net borrowing leads to +EV projects and investments. If it does, borrowing 10% more to make 12% is obviously EV. If not, borrowing even 1% to lose 2% is negative EV. That is the only calculation that matters. Also, Gross Debt <> Net Debt. The US and its citizens do own assets, fin'l and otherwise, overseas. E.g. you may own bonds of BP and stock in Sony, et al. Finally, part of that debt is held by offshore Hedge Funds in Bermuda and the like that is really owned by US investors through investment vehicles. That has already been shown to screw up the data to a small, but growing, extent.
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