The Fiscal Cliff
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Published on Nov 29, 2012
Basic overview of the parameters of the budgetary negotiations (which are apparently trying to avoid the fiscal cliff)
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DillonDee1 1 day ago
Republicans trying to screw it all up again...as they did back under Baby Bush.
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mollesjohn 1 day ago
Of course you have to walk away... it's either that or THINKING, and God forbid you attempt the latter for yourself.
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countinglampposts 1 day ago
So cited sources materials aren't enough to sway your preconceived notions? Well this is where I am going to walk away from this like how I should have a long time ago. Good night and good luck.
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mollesjohn 1 day ago
THERE IS YOUR PROBLEM: your concept of SOURCE material. You somehow believe that because somebody, or a small group of somebodies think a certain way, that means it's true somehow.
No. It doesn't. I've laid out the argument right in front of your face, and you can't find the flaw.. know why? There isn't one. Governments and corporations don't operate the same way, and debt to one is not remotely akin to the other. Go ahead, believe they are similar.. just try to print your own money. Please.
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countinglampposts 1 day ago
Hahahaha I show you source material and you start agreeing with me. This is classic. Quit your condescension and admit that you dont have any numbers to back up your claims. BTW, I am surprised you didnt catch me on my gaffs earlier: The US is the world's largest ECONOMY andhas had far GREATER debt ad deficit per gdp. My typo. I am beginning to question just how much of what I write you comprehend.
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mollesjohn 1 day ago
Ah! You are BEGINNING to understand... don't stop now... keep going... you are, for the first time, getting your head around the vastness of what you were writing off as trivial earlier, as if some corporation somewhere dealt with these kinds of numbers...
Please, keep Googling. HINT: Look up the difference between a corporation and a sovereign nation!
Clearly, some "academic" from some website, duped you into believing they were very much alike.
KEEP GOOGLING! KEEP LEARNING!
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countinglampposts 1 day ago
1.2 Trillion, you might want to start using google. I promise it wont get int he way of your 'common sense'
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mollesjohn 1 day ago
Factual corrections? All I said about China is that they won't lend us any more money, and the reason they won't is obvious... they don't think we will be able to make good on their loan (they think our credit is bad)
BTW.... 8.2% of our debt is a HUGE number. I don't know offhand, but I think you'd be completely stunned if you actually got the number in dollars.
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countinglampposts 2 days ago
And finally, yes you can buy US debt. They're called treasury bonds. Feel free to go here and invest
wwwDOTtreasurydirectDOTgov/indiv/myaccount/myaccountDOThtm
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countinglampposts 2 days ago
The US has excellent credit. Up until recently when congress and the white house played one of the most reckless games of chicken ever the US had had the highest possible credit rating of AAA since 1941 (of course this is only with S&P).
enDOTwikipediaDOTorg/wiki/List_of_countries_by_credit_rating
The US is also the world's largest country and has had far great debt and deficit per gdp in the past. Therefore, it is safe to say the US actually has an excellent credit rating.
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