RobertMac said:
Oldtimer said:
Soapweed said:
This has happened all along, and is the reason American companies have outsourced most of their manufacturing. The danged Democrats, and I don't use this term loosely :? :wink: , have taxed, ruled and regulated America so bad that the companies have had to send their jobs over seas just to survive.
Yep- the worlds problems are all because of those danged Democrats...We only gave the Republicans 12 years control of Congress and 6 years total control of all D.C.-- and what did we end up with--- the biggest fastest grown bureacracy in history- and the biggest ($9 Trillion) national debt in history-- and a global world that no longer trusts us or our money :roll: .... Dang those Democrats.... Yep all the worlds problems are the Democrats fault :wink: :lol: :lol: :lol: :lol:
IRCC, national debt per a percentage of gdp is smallest in history.
Although I'm not happy with all the Republicans have done in the past 12 years(seemed to have lost their conservatism), I certainly don't want the Democrats back in power.
RM, I hate to correct you on this "little" issue, but read this:
http://zfacts.com/p/318.html
As you can see, our national debt is way, way, way bigger than you thought. The trick, you see, comes in the wording. What is the deficit compared to gdp is a very different answer than total debt to gdp.
The deficit is what you are spending over your increase in pay. The deficit is the difference of what the govt. receives in taxes and what they spend.
You may be talking about the DEFICIT as a percent of GDP, not DEBT.
One of the more major concerns is not only the debt, but the liabilities. Debt is what we owe already. The liabilities (SS liabilities, medicare, medicaid, and other govt. spending) are much greater.
Look at it this way, the debt is the total you owe on your credit card and such. The gdp is what you earn in one year. The liabilities are all the bills you signed up to pay in the future like tv contracts, phone contracts, cable contract, and possibly your lease you signed for your auto and your housing. For the government, it is the interest they have to pay as well as future liabilities.
When you look at the real numbers, it gets pretty scary.
I was in the lending business some time ago so I looked at these numbers for the people I was working with. Too many people lived off of their current income just paying their current bills. I saw a lot who were heading to bankruptcy, losing their house, their car, or taking money out of their meager savings for retirement to pay for current expenses.
It was pretty scary.