O/T: Quote Of THe Day

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Just Wondering wrote:

Unless you can print it.
--

dadiOH
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On 9/5/2012 1:37 PM, dadiOH wrote:

a decade, the federal deficit has not recently been covered in any significant amount with new printed money.
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Just Wondering wrote:

Wait.
There is no way the debt will ever be paid without starting up the printing presses. And yes, it will cause inflation. Our dollar is now worth $0.10 relative to how I knew it; in the not too distant future it will be worth $0.01. Or less.
And under 4% is *still* inflation. That rate will decrease the value of a dollar to 50% in 18 years or less.
--

dadiOH
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On 9/5/2012 9:20 AM, Doug Winterburn wrote:

The national debt has more than doubled since the social democrats took control of Congress in 2006 and increased by 6 trillion dollars from the 10 trillion it was when obama took office in 2008.
The obama increase make past Republican and Democrat presidents look insignificant.
I do not believe in 6 years the social democrats have passed an annual budget as dictated by the Constitution. Not even in the years when the social democrats had control of both the Senate and the House.
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On Wed, 05 Sep 2012 06:20:13 -0700, Doug Winterburn wrote:

If any surplus is less than that years interest on the debt, the debt will increase. There were surpluses in 1969, and 1998 through 2001 but the debt went up in all of those years.
--
When fascism comes to America, it will be wrapped in the flag and
carrying a cross.
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On Wed, 5 Sep 2012 23:43:36 +0000 (UTC), Larry Blanchard

Has -any- budget surplus ever been used to pay down the debt, not just interest? Hell, the interest payments alone are far greater than I can even wrap my little-figured mind around.
-- The most powerful factors in the world are clear ideas in the minds of energetic men of good will. -- J. Arthur Thomson
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On 09/05/2012 04:43 PM, Larry Blanchard wrote:

calculations and any increase/decrease of the debt. The interest on the debt is an expense line item.
--
"Socialism is a philosophy of failure,the creed of ignorance, and the
gospel of envy, its inherent virtue is the equal sharing of misery"
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On Wed, 05 Sep 2012 17:30:06 -0700, Doug Winterburn wrote:

OK, then I'll repeat my previous statement in shortened form :-).
There were surpluses in 1969, and 1998 through 2001 but the debt went up in all of those years.
Creative accounting?
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On 09/06/2012 09:27 AM, Larry Blanchard wrote:

difference is in how trust fund excess contributions are treated. The Feds claim all excess trust fund contributions as revenue in the annual accounting, but do not count the promisory notes placed in the trust funds as expenses. However, they do count the promisory notes in the debt.
It all boils down to the fact that the increase in debt is the true indicator that we have spent more than we have taken in since Ike.
--
"Socialism is a philosophy of failure,the creed of ignorance, and the
gospel of envy, its inherent virtue is the equal sharing of misery"
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Despite all that, please read (as I just said elsewhere) this from Vanguard: <https://personal.vanguard.com/us/insights/article/red-ink-092012 I am NOT an economist.
But taken your view a bit further (back actually), spending more than we take in has been a hobby of every administration, in particular some recent ones, where taxes were cut, wars waged, medicare expanded, etc, etc, and NONE of those EXTRA EXPENSES were compensated for by extra revenues.
It is my opinion, and you are free to disagree, that the financial collapse of 2008 forced the administrations of Bush and Obama to spend vast sums of money to "rescue the economy". Hopefully we'll eventually dig out from under that particular mountain of debt (the one caused by the collapse).
--
Best regards
Han
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What happened to all the money which came back IN from the TARP programs?
-- The most powerful factors in the world are clear ideas in the minds of energetic men of good will. -- J. Arthur Thomson
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On Thu, 06 Sep 2012 20:36:31 -0700, Larry Jaques

Spent it again. What else?
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On 9/6/2012 1:35 PM, Doug Winterburn wrote:

Correction, "Our Government" has spent more than we have been able to afford since Ike.
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On 09/06/2012 03:38 PM, Leon wrote:

Much better :-)
--
"Socialism is a philosophy of failure,the creed of ignorance, and the
gospel of envy, its inherent virtue is the equal sharing of misery"
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Doug Winterburn wrote:

Hmmm. Maybe there have been more Republican presidents than Democratic ones who have increased the amount of overspending, but in dollars? I'd go with the reverse.
It will take a set of deficits from Republican administrations to approach the $6 trillion debt from just the current president.
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On 09/07/2012 03:41 AM, HeyBub wrote:

You quoted the wrong guy...
--
"Socialism is a philosophy of failure,the creed of ignorance, and the
gospel of envy, its inherent virtue is the equal sharing of misery"
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On 9/7/2012 10:05 AM, Doug Winterburn wrote:

I believe in the coming election there is one big factor that has been missed.
That factor can be summed up in Michelle's response when obama was elected. She said that that was the first time in her life when she was proud of America. (You can check this statement in the news archives)
The whole Republican convention was; we are proud of America, We know We are capable of great things, and We can make it better. ( Notice there was no mention of establishing more government for the purpose.)
It is my believe that people will respond more to a positive attitude than the negative attitude expressed by the social democrats.
People will respond to a person who says that in America you can go as far as your capabilities will carry you, and believe the American dream is not, as obama said a few weeks ago, to get a job that will support your family with out the fear of loosing that job and putting you and your family in poverty. It is human nature to want the best not something that is adequate to keep you out of poverty.
Who would you vote for someone who said your success is dependent on your abilities and you can go as far as you are willing to work for, or one that say there is nothing you can do about present state, and the reason you are suffering is the government has not done enough for you.
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Mike Marlow wrote:

This demonstrates that you may be right
http://www.theblaze.com/stories/radio-host-pranks-dnc-delegates-with-question-about-banning-corporate-profits-and-many-agree-with-him/
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True that there was some editing, but the fact that many actually agreed to the idea without hesitation is truly scary. And your right, our glourious leader has made profit and success four letter words.
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On 9/7/2012 4:20 PM, ChairMan wrote:

Who is john Galt?
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