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$2,400,000,000,000.00(16 posts)

Jan 27, 2004 2:11 PM
Lookee at all dem zeros! Got kids that are pre-teens? Better get them familiar with this number. In ten years, it's all theirs.
wrong. You forgot to add the existing debt.dr hoo
Jan 27, 2004 2:21 PM
And I think that is a debt of ~$24,000 per person in the US.
+7,000,000,000,000.00dr hoo
Jan 27, 2004 2:28 PM
OK, I looked it up.

7T+2.4T/300,000,000 = 32,000 per person, roughly. At simple interest of 4% we get almost 3,000 a year to service the interest on the debt per person.

Think about the children!!!!!!

Screw them, I got mine.
ok, so i can't read my calculator.dr hoo
Jan 27, 2004 2:37 PM
That interest number should be closer to 1250. Ooops!
Pocket changeBottomBracketShell
Jan 27, 2004 2:39 PM
for Bush's friends.
So what? The national debt isn't a big deal---yetContinental
Jan 28, 2004 9:05 AM
Yea, our children will inherit a national debt of $32,000 from us. It's no big deal. Here's an illustation to clarify my point. Let's say I die and leave $300,000 debt, but I also leave a house and land worth $3 million. Am I putting my kids future finances in dire straits?

So, we leave $32,000 National Debt per kid. We also leave a developed infra-structure worth many, many times the debt. If you look at total assets minus total liabilities, we are passing unprecedented wealth to the next generation. My worry is not with the debt we may pass on to our children. I worry about the enviroment and the physical security we may pass on.

Don't get me wrong, I'm a fiscal conservative and I think that the current federal deficit is too high. But these arguments that our children are inheriting a crushing debt burden are nothing but political sound and fury.
~10% of the budget to service current debt.dr hoo
Jan 28, 2004 10:01 AM
If I was paying 10% of my income to service debt and not paying it down, and adding more as well, that would be a concern. 10 cents on the dollar up in smoke, and growing.
Bush Business Boom will pay this off in increasing revenues. nmczardonic
Jan 27, 2004 2:26 PM
BWAHAAHAAA!!!! That was a good one. nmColnagoFE
Jan 27, 2004 2:37 PM
What's your point? Sour grapes.BottomBracketShell
Jan 27, 2004 2:37 PM
What's a little long-term debt for our children to pay off balanced against the desperate immediate necessity of making billionaires richer?
But where would our children be w/o billionaire role models?czardonic
Jan 27, 2004 2:41 PM
It really is a catch 22.
but we can have our tax cuts now dammit ;) (nm)ColnagoFE
Jan 27, 2004 2:36 PM
the children should pay itmohair_chair
Jan 27, 2004 2:49 PM
We are paying our parent's debt, so they our children can pay ours. Why should we have to pay our parent's and ours too? Besides, how much of that debt is directly attributable to children's programs?

Here in California, all kinds of people got upset when the governor (Arnold, of course) wanted to sell $15 billion in bonds. Their whiny plea was "all this does is pass our debt on to our children. (sniffle, sniffle)." Well, considering a huge percentage of the budget goes directly to education, which means children, I don't have a problem with passing it on! The children want a free ride!
Hell, lets just not pay it at all.BottomBracketShell
Jan 27, 2004 2:55 PM
The Republcans can just say, we've decided to default. We've bled the country dry, the government is broke, all the money is now where it should be in the hands of our rich freinds and we're just not going to pay. Somebody turn the lights off on the way out, no, that's right the power has already been shut off for nonpayment.
Print more money! Worked for Italy, why not! nmSpunout
Jan 28, 2004 8:57 AM
Bush's education motivation program.Spoiler
Jan 27, 2004 5:23 PM
For an US citizen, I think you have to have a Master's degree to become a Canadian citizen. I think I could get my Masters for less than $30 grand. Simple business. I get my masters and skip out on my share of the US debt. Imagine if the US develops a foreign debt to Canada. I could go from owing money to having money owed to me!!

Either that, or I get a trailor park queen to squirt out about 15 kids for me. That way I feel less guilty for passing the debt on to my kids. More kids=less debt per kid.