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View Full Version : Doing some math on the debt stuff




dejavu22
07-27-2011, 05:49 PM
Ok so i was listening to someone today talk about the debt stuff and they have been saying that all of these savings numbers are based upon the expected spending from the CBO over the next 10 years. That number according to the CBO website is 42.883 trillion.

http://www.cbo.gov/ftpdocs/108xx/doc10871/Chapter3.shtml

Now with that being said we are currently at 0 growth assuming we don't raise taxes we will be getting taking in basically 2.4 trillion a year which means 24 trillion over the next 10. So by the way that that everyone has been advertising their debt savings numbers we will be worse off than we are today in 10 years unless there is a debt savings of 18.883 trillion over the next ten years and that is only break even let along paying off some of the debt.

The magic number is 19 trillion and we have not even been to half of that meaning that there is no one who is taking this issue seriously yet. Imo i would like to see it closer to 22 trillion so we could be showing a 20% reduction in debt over the next 10 years but that is beyond a pipe dream at this point.

DamianTV
07-27-2011, 05:52 PM
They dont have a Revenue problem, they have a SPENDING problem.

bwlibertyman
07-27-2011, 05:58 PM
I agree. I think a good COMPROMISE would be to meet them halfway, that's called balancing the budget. We're not talking about paying off debt. We're just talking about not taking any more on. Someone needs to say this loud. The debate needs to be changed. Some people are saying that we are crazy because we want to only spend what we take in but I think that's better than asking them to actually pay off their debt. BOOM! Talking points!

dejavu22
07-27-2011, 06:58 PM
I am not talking about this as a revenue issue i am just trying to put a little perspective behind all the headlines.

Not adding to the debt is the 19 trillion number to me a compromise of 9.5 trillion is not sufficient and not even close to a balanced budget. That would still mean that in 2021 our deficit would be 24 trillion not to mention the fact that no budget is binding and any savings that are over 10 years are worthless. Unless it is balanced on a year to year basis it is worthless.