Cato: Mountain of Debt

It sad when Comedians have more credibility than Faux "News"...

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Originally Posted by fraga

It sad when Comedians have more credibility than Faux "News"...

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It's sad when idiots like you believe that just because it's the "cool" attitude to take among whacko progressives.

Don't feel bad cause John Stewart and Steve Colbert point out all the mistakes Fox "News"...Glenn Beck and Sarah Palin make...the sun will come out...tomorrow...bet your bottom dollar...

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Originally Posted by spursncowboys

http://www.cato-at-liberty.org/wp-co...dehaven122.jpg
To be fair, Obama’s predecessors — particularly the previous Bush administration — share in the responsibility for the mountainous rise in federal debt. However, that’s all the more reason for the Obama administration to work toward a peak instead of a steeper incline.

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Even looking at it that way, there is no reason to continue having ever increasing percentages of GDP. The 63.2% should be too high already at an annual level, and the fact that projections don't have it coming down is extremely troubling.

The really scary part of that chart is that most of the current debt is short term and will have to be rolled over. Zero% interest won't last forever. Start having to pay 15% interest and the debt starts compounding geometrically.

When the answer to that chart is "Jon Stewart" you know this country is fucked.

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Originally Posted by CosmicCowboy

The really scary part of that chart is that most of the current debt is short term and will have to be rolled over. Zero% interest won't last forever. Start having to pay 15% interest and the debt starts compounding geometrically.

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Compound interest is a bitch. I wish democrats would realize they are signing this nations death sentence.

I have seriously been toying with the idea of moving to Belize when I sell my business.

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Originally Posted by ElNono

It can be. It certainly can be a tool to do that.

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Is that what you want taxes to be. A way to take from people who have alot and give to people who want more?
i personally think the only thing taxes should pay for are things that benefit the entire population and that everyone should pay taxes.

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Originally Posted by 101A

The amount of wealth is fixed?

SHOULD expand, should it not?

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No, I said 'given a set amount of wealth'. Meaning, if we were to take a snapshot of the overall wealth at a particular moment. Obviously, wealth changes over time.

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Originally Posted by spursncowboys

Is that what you want taxes to be. A way to take from people who have alot and give to people who want more?
i personally think the only thing taxes should pay for are things that benefit the entire population and that everyone should pay taxes.

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No, I said taxes can be a tool to do that if that's what the government wants to do.