U.S. federal debt 1/10 of global wealth?

Illuminator · 04-11-2008, 04:57 PM

Putting two and two together:

U.S. National Debt

BCG Press Releases - Global Wealth Climbs 7.5 Percent In 2006, Nearing $100 Trillion

Am I missing something?

Ily · 04-11-2008, 05:02 PM

Nope, our spending habits as a country have made everyone else, especially the chinese, a bit richer.

Otis · 04-11-2008, 05:57 PM

Ahh - the joys of spending without taxing while waging a multi-trillion dollar war that's gone on for 5 years with no end in sight.

My dick is hard now.

Ily · 04-11-2008, 06:02 PM

Ohhh! can I tou..
er wait, nevermind, scratch that.

Nothing to see here folks, go bout your business....

Illuminator · 04-11-2008, 06:07 PM

The war is dwarfed by entitlement spending.

Widem · 04-11-2008, 06:12 PM

Quote:

Originally Posted by Illuminator

The war is dwarfed by entitlement spending.

I completely agree, this war i think has been used a scapegoat for a lot of the problems politicians don't want you to see.

The problem is SO massive it can't be contributed to one thing. Its fucked up programs in the entirety. Welfare, Medicare, Social Security, Earmarks, War Efforts, Intelligence gathering, Political Campaigns etc. So many programs piss away so much money. The entire process of government is just soaked in cash.

Otis · 04-11-2008, 06:28 PM

Notice the word "while" in my previous post. It implies "in addition to".

I'm not blaming anything solely on the war. I know the system is fucked, I just usually get called chicken little for saying so around here.

Widem · 04-11-2008, 06:44 PM

Health Care is such an enormous undertaking. Lets just take chronic illness ONLY. Costing $1.7trillion dollars a year and effecting over 130million americans. Up until now the Iraq war has cost around $510 billion dollars. 5 years of war doesnt even cover 1 year of treating chronic illness in the United States.

Universal Healthcare is by god the dumbest fucking idea ever. Especially when people cite how much good Social Security and Medicare have done for this country. Oh yeah thats right incurred enormous amounts of debt while giving subpar results.

Deson · 04-11-2008, 07:01 PM

Quote:

Originally Posted by Widem

Health Care is such an enormous undertaking. Lets just take chronic illness ONLY. Costing $1.7trillion dollars a year and effecting over 130million americans. Up until now the Iraq war has cost around $510 billion dollars. 5 years of war doesnt even cover 1 year of treating chronic illness in the United States.

Universal Healthcare is by god the dumbest fucking idea ever. Especially when people cite how much good Social Security and Medicare have done for this country. Oh yeah thats right incurred enormous amounts of debt while giving subpar results.

That's mostly because the structure of the U.S. system is inefficient. Social Security and Medicaid has done a ginormous amount of good for those it was intended to.

As far as the debt ballooning well, it's kinda funny that it mushroomed about 30 years ago.

Illuminator · 04-11-2008, 07:10 PM

It mushrooms whenever there is a president unwilling to skimp on national security. But the liberals are relentless defenders of the entitlement programs in any time period, they don't budge for shit even when the founding intent of the Constitution leans against them.

All Social Security and Medicaid means is that you shove your old folks into nursing homes and whatnot, hoping the government takes care of them. I actually believe it to have hurt the family structure.