Author Topic: The $1 trillion deficit...........  (Read 2574 times)

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Offline Kosh

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The $1 trillion deficit...........
http://www.msnbc.msn.com/id/27247139/


Even for such big spenders as Bush, this is a new high, or should I say low..........
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Offline BloodEagle

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Re: The $1 trillion deficit...........
I'm going to have to start collecting bottle-caps, now.  :nervous:

 

Offline Polpolion

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Re: The $1 trillion deficit...........
*waits for this to directly affect me.

 

Offline Androgeos Exeunt

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Re: The $1 trillion deficit...........
Now this is called over-spending. :rolleyes:
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Quote: Tuesday, 3 October 2023 0133 UTC +8, #general
MP-Ryan
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Re: The $1 trillion deficit...........
Well... let's see:

http://en.wikipedia.org/wiki/List_of_countries_by_public_debt

Pretty high on the list- 27-th place out of 126, 151% GDP below the highest, and 57% above the lowest.
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Offline Kosh

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Re: The $1 trillion deficit...........
Well... let's see:

http://en.wikipedia.org/wiki/List_of_countries_by_public_debt

Pretty high on the list- 27-th place out of 126, 151% GDP below the highest, and 57% above the lowest.


And alot of those countries ahead of us have really crappy economies, coincidence?
"The reason for this is that the original Fortran got so convoluted and extensive (10's of millions of lines of code) that no-one can actually figure out how it works, there's a massive project going on to decode the original Fortran and write a more modern system, but until then, the UK communication network is actually relying heavily on 35 year old Fortran that nobody understands." - Flipside

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Re: The $1 trillion deficit...........
And thats the current total debt, normally built up over 50 years or more...
To judge the situation/behaviour now, its quite irrelevant.

Quote
Since the end of August, the national debt has jumped from $9.6 trillion to $10.3 trillion
That's the interesting part

 

Offline Androgeos Exeunt

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Re: The $1 trillion deficit...........
I wonder how they calculate it...
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Quote: Tuesday, 3 October 2023 0133 UTC +8, #general
MP-Ryan
Oh you still believe in fairy tales like Santa, the Easter Bunny, and free market competition principles?

 

Offline Mobius

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Re: The $1 trillion deficit...........
Quote
Rank                    Country              Public debt (% of GDP)
  1                                Zimbabwe                                        211.90    
  2                                   Japan                                           195.50
  3                                 Lebanon                                          186.60
  4                                Seychelles                                       144.30
  5                                 Jamaica                                          127.20
  6                                  Egypt                                             105.80
  7                                  Italy                                            104.00
  8                                Singapore                                       101.20    
  9                                  Sudan                                            98.90    
  10                                Greece                                            89.70

Wow, I thought Italy was the "best"...I found Japan's 2nd place a bit amazing, anyway...
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Re: The $1 trillion deficit...........
I wonder how they calculate it...
Well, how would you calculate your total debt..?

 

Offline Mobius

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Re: The $1 trillion deficit...........
You check what's missing, right? :nervous:
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Re: The $1 trillion deficit...........
How do you calculate your own total debt? You add what you owe you neighbour, the guy who sold you the car and maybe your mother -of course you are supposed to know how much you owe them, and thats your total debt.
Not different for a government, you add what you owe other countries, banks or your citizens via "treasury bonds" (I think thats how they are called in the USA), and you got your total debt.
Or am I completely misunderstanding the question?

P.S.: Spell Check not working, just lost the post because of it :/

 

Offline Mongoose

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Re: The $1 trillion deficit...........
This should explain everything nicely.

 

Offline Excalibur

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Re: The $1 trillion deficit...........
Australia is 105th ;)

Are there any that aren't in debt?
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Offline Ghostavo

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Re: The $1 trillion deficit...........
Australia is 105th ;)

Are there any that aren't in debt?

There are 195 countries in the world, give or take, so...
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Offline Androgeos Exeunt

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Re: The $1 trillion deficit...........
How do you calculate your own total debt? You add what you owe you neighbour, the guy who sold you the car and maybe your mother -of course you are supposed to know how much you owe them, and thats your total debt.
Not different for a government, you add what you owe other countries, banks or your citizens via "treasury bonds" (I think thats how they are called in the USA), and you got your total debt.
Or am I completely misunderstanding the question?

P.S.: Spell Check not working, just lost the post because of it :/

Yes, that's how debt is calculated. :nod:

But how do they do it on Wikipedia?
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Quote: Tuesday, 3 October 2023 0133 UTC +8, #general
MP-Ryan
Oh you still believe in fairy tales like Santa, the Easter Bunny, and free market competition principles?

  

Offline Kosh

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Re: The $1 trillion deficit...........
I just realized something, those numbers don't count the massive future unfunded liabilities we will have in the next 10 years (namely social security and medicare). If those numbers are included then the debt will increase 2 or 3 times as much as it is today.
"The reason for this is that the original Fortran got so convoluted and extensive (10's of millions of lines of code) that no-one can actually figure out how it works, there's a massive project going on to decode the original Fortran and write a more modern system, but until then, the UK communication network is actually relying heavily on 35 year old Fortran that nobody understands." - Flipside

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