The deficit has been reduced and debt stabilized

[Ombudsman]

But the wing nuts are clueless to these facts.

1. The deficit has been reduced by a lot. As Center for American Progress Director of Tax and Budget Policy Michael Linden noted, in August 2010, CBO’s “alternative fiscal scenario” projected a deficit in 2020 of 7.8 percent of GDP. Now it projects that deficit will be 4.7 percent of GDP. The difference between the projected 2013-2020 deficit in 2010 and that same projection today adds up to $4.5 trillion in deficit reduction.

2. The debt is stabilized. Thanks to the fiscal cliff deal and previous budget agreements, most of the country’s debt problem is solved. The CBO’s report shows debt will now peak at 77.7 percent of GDP in 2014, then drop to 73.1 percent in 2018, then rise back to 76 percent in 2022. (See graph below.) According to the Economic Policy Institute, flattening out that second rise from 2018 to 2022 will only require $670 billion in additional deficit reduction — $580 billion in actual policy savings, plus $90 billion in resulting interest savings. That’s less than half the $1.5 trillion in additional deficit reduction President Obama is calling for.


http://thinkprogress.org/economy/2013/0 ... ?mobile=nc

[Wneglia]

But the wing nuts are clueless to these facts.

1. The deficit has been reduced by a lot. As Center for American Progress Director of Tax and Budget Policy Michael Linden noted, in August 2010, CBO’s “alternative fiscal scenario” projected a deficit in 2020 of 7.8 percent of GDP. Now it projects that deficit will be 4.7 percent of GDP. The difference between the projected 2013-2020 deficit in 2010 and that same projection today adds up to $4.5 trillion in deficit reduction.

2. The debt is stabilized. Thanks to the fiscal cliff deal and previous budget agreements, most of the country’s debt problem is solved. The CBO’s report shows debt will now peak at 77.7 percent of GDP in 2014, then drop to 73.1 percent in 2018, then rise back to 76 percent in 2022. (See graph below.) According to the Economic Policy Institute, flattening out that second rise from 2018 to 2022 will only require $670 billion in additional deficit reduction — $580 billion in actual policy savings, plus $90 billion in resulting interest savings. That’s less than half the $1.5 trillion in additional deficit reduction President Obama is calling for.


http://thinkprogress.org/economy/2013/0 ... ?mobile=nc

Why the National Debt is $16 Trillion

[Ombudsman]

[neoplacebo]

I think that to reduce the debt and to stabilize is the main point for those who take loans. If you are dealing with it and want to get solution, then you must read about debt consolidation loan. After you completely understood the meaning, you might want to take this loan as it reduces the rate of interest of the debtors. But you should consultant a finance expert before you begin as it needs to match some criteria and it has also have some sort of demerits, so better to take advice. The advisor must have the depth knowedge about current matter.

Why bother with all the agonizing and convoluted theoretical solutions to the national debt? All that needs to happen is for the US mint or the Bureau of Engraving and Printing to strike one roll of forty coins that have a face value of one trillion dollars each or print a sheet of one trillion dollar notes and then deposit them in the US Treasury. This would solve the problem immediately. This is certainly a practical solution because our money has not been of any intrinsic value or backed up by anything but "faith" and "credit" for decades. All you have to do is believe it's worth something and recent history proves that the GOP especially is susceptible to believe virtually anything that serves their agenda.

[Vrede too]

BOB_SWIFT is a spam bot shilling for personal debt consolidation.

[neoplacebo]

BOB_SWIFT is a spam bot shilling for personal debt consolidation.

Well, in that case, HEY BOB< KISS MY ASS.

[Leo Lyons]

BOB_SWIFT is a spam bot shilling for personal debt consolidation.

Well, in that case, HEY BOB< KISS MY ASS.

What you wrote about the national debt sounds like the antics of the former Ugandan despot Idi Amin; "need money? print more"

[Leo Lyons]

BOB_SWIFT is a spam bot shilling for personal debt consolidation.

I thought Banni set up a Captcha to catch bots?

[GoCubsGo]

[youtube][/youtube]

BOB_SWIFT is a spam bot shilling for personal debt consolidation.

I thought Banni set up a Captcha to catch bots?

Bot captcha defeating technology has gotten better, think smart scanners.

[Vrede too]

I thought Banni set up a Captcha to catch bots?

He told us once how many are stymied vs how many slip through. It's a lot.

[neoplacebo]

BOB_SWIFT is a spam bot shilling for personal debt consolidation.

Well, in that case, HEY BOB< KISS MY ASS.

What you wrote about the national debt sounds like the antics of the former Ugandan despot Idi Amin; "need money? print more"

Well, don't look now, but that's exactly what we've been doing for quite some time.

[billy.pilgrim]

BOB_SWIFT is a spam bot shilling for personal debt consolidation.

I wouldn't be too sure about that. Media is currently reporting that a Robert Swift has been tapped in a recess appointment to head up our debt consolidation department.

[Vrede too]

BOB_SWIFT is a spam bot shilling for personal debt consolidation.

I wouldn't be too sure about that. Media is currently reporting that a Robert Swift has been tapped in a recess appointment to head up our debt consolidation department.

A joke? If so, good one, you made me look.

Coincidentally, I found this:

House of horrors: Ex-NBA star Robert Swift finally moves out of his foreclosed home leaving behind piles of dog feces, empty alcohol bottles and most of his possessions

Maybe he could have used some debt consolidation .

[billy.pilgrim]

BOB_SWIFT is a spam bot shilling for personal debt consolidation.

I wouldn't be too sure about that. Media is currently reporting that a Robert Swift has been tapped in a recess appointment to head up our debt consolidation department.

A joke? If so, good one, you made me look.

Coincidentally, I found this:

House of horrors: Ex-NBA star Robert Swift finally moves out of his foreclosed home leaving behind piles of dog feces, empty alcohol bottles and most of his possessions

Maybe he could have used some debt consolidation .

It could have been true.

[neoplacebo]

BOB_SWIFT is a spam bot shilling for personal debt consolidation.

Well, in that case, HEY BOB< KISS MY ASS.

What you wrote about the national debt sounds like the antics of the former Ugandan despot Idi Amin; "need money? print more"

Well, don't look now, but that's exactly what we've been doing for quite some time.

It would seem they are taking a small little bit of my advice; a few days ago the Federal Reserve pumped about a trillion dollars into the economy. This means that the Bureau of Engraving and Printing printed a trillion one dollar bills or the equivalent number of one hundred dollar bills or some other menu of bills, sent this money to the Federal Reserve banks, and invited the large American financial institutions to "borrow" this money at zero interest so that those institutions can loan it to you at eight, ten, twelve, or whatever percent interest they choose to pull out of their asses. This is nothing more than socialism for banks and is not a bit different in principle than giving every American citizen three hundred and twenty seven or thirty two hundred and seventy or whatever amount of dollars is equal to one trillion divided by three hundred and twenty seven million. And the end result is also the same; money being spent, except that in the former case, only the big financial institutions profit from this action; in the latter case, the stores and businesses where those Americans spend their gift of cash profit instead of one percenters and owners of bank stocks.

[Vrede too]

I've noticed the complete lack of screeching about govt bailouts by the Trumpettes that hated it coming from Shrub and Obama.

[billy.pilgrim]

I've noticed the complete lack of screeching about govt bailouts by the Trumpettes that hated it coming from Shrub and Obama.

Actually most of them blamed obama for TARP money. Give them a couple if weeks, I feel pretty sure that Obama is to blame here as well.

[Vrede too]

Actually most of them blamed obama for TARP money. Give them a couple if weeks, I feel pretty sure that Obama is to blame here as well.

True, clarification:
I've noticed the complete lack of screeching about govt bailouts by the Trumpettes that hated Obama for them even though they really came from Shrub and Obama.

[Whack9]

Saw this comment on Reddit:

Trump wanted to undo Obama's legacy so bad he's taking the stock market back to 2008.