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IOUSA

By Dr Dij ·
How do you feel knowing that YOU, PERSONALLY owe $184,000 that the fed govt spent on stuff (that probably wasn't for YOU)

This is our share of the official $11 trillion, 80% of the GDP, or so the govt spends 80% of everything produced each year but manages to NOT PAY FOR IT AND PUT IT ON CREDIT instead


or if you count promised liabilities such as social security and medicare, $54 trillion


http://news.yahoo.com/s/ap/20090703/ap_on_go_ot/us_mountain_of_debt;_ylt=ArUqw6uVJDCUQNSgOY_D0sMUewgF;_ylu=X3oDMTMzbGNxdnZxBGFzc2V0Ay9hcC8yMDA5MDcwMy9hcF9vbl9nb19vdC91c19tb3VudGFpbl9vZl9kZWJ0BGNwb3MDNgRwb3MDNgRzZWMDeW5fdG9wX3N0b3JpZXMEc2xrA21vdW50YWlub2ZkZQ--

Similar theme, the daily reckoning site produced video IOUSA about same subject

(short 30 min version on youtube)

http://www.youtube.com/watch?v=O_TjBNjc9Bo

Are we going to see the weimar republic again with hyperinflation?

Will everyone have to resort to barter?

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Max, You are Right About One Thing

by TheChas In reply to My answer to your last qu ...

Max,

While I still think it would be a good exercise for you to run for office and bring your ideas to a broader audience, you would never make it as a politician. You would end up as the least effective active office holder ever.

Your dogmatic no compromise style would doom you to no support for your proposals. Even among other politicians who support you on principle, most would want your vote on some measure that would not fit into your narrow dogmatic view of the world. Without supporting a few measures outside of your constraints you would never get the votes to pass your proposals.

Of course, your big fear for running for any office is that you may find out just how unrealistic and unattainable your ideas are.

And, who is more elitist?
The person who says, I made it on my own, so can you?
Or, the person who says, I am doing okay, but you are struggling, let's find a way so you can move ahead if you want to?

Chas

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Add to that our increased cost of living (tax)

by jdclyde In reply to IOUSA

when we are spending up to 2k more a year for energy for our homes, that will sure be a big help.

When the cost of fuel soars again, that will sure give relief to the middle class and low class.

How about that the majority of that stimulus debt is NOT going to stimulate anything?

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You're right, those are troubling numbers

by maxwell edison In reply to IOUSA

As for resorting to barter, even that will be taxed. It's not possible for people to live in a barter society (no money), because the value of the bartered goods and services are taxable under our current tax code. It begs the question, if people DO try such a thing, where will they get the cash, and what will happen if they don't (can't) pay?

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