[Tomflhrci98]

1. How much of the $10 trillion National dept will you promise to pay off during your 4 years in office?

2. And, if you don't meet that goal will you promise to NEVER run for political office ever again?

Is this asking too much?

[cowboy]

I can get it all payed off
I will not run for any office ever again
Sound's like two good questons to me

[Panthera]

It all started with an economist named Keynes, who's economic theory said that during tough times like recessions, the government should borrow money to stimulate the economy, and during good times the government should pay that money back. This would basically fill in the low points and trim off the high points in the economic cycle.

Unfortunately, the politicians only got it half right, borrow, borrow, borrow. Both candidates have a plan to balance the budget in a few years, but they need to balance the budget now, and work off the debt.

10 trillion dollars, at 4.5% interest equals 450 billion in interest that needs to be paid every year. 450 billion that could be used for other things.

Since the budget is actually written by congress, I think we need to impose term limits there, and make them answer for their votes. But they keep getting re-elected as long as some of that excess is going to their home district.

[chucktx]

so, who is getting 450 billion in intrest, and what are they doing with it????

[REDHEAD]

MY understanding is the MONEY gets printed then it goes to the

FEDERAL RESERVE BANKS (nothing to do with the fed government ALL ARE private banks 12/13 of them MOST were tied in with funding the nazis & hitler back in thirties and on THRU TODAY the new world order globalist & bilderberg group)

then THEY LOAN IT BACK TO THE US GOVT. VIA THE TREASURY DEPT and get to charge the INTEREST on the money........ now that is what's F**K'N us royal ...... I'm fairly sure this is how it works...

A good book to read is THE RISE OF THE FOURTH REICH by jim marrs........
a best seller that has been HUSHED UP***** READING this book will REALLY PISS YOU OFF!!!!!!!!!!!!!


signed....REDHEAD

[Panthera]

Anyone who buys treasury bonds, or t-bills, is getting that interest. The government is actually robbing Peter to pay Paul, since a lot of the borrowing came from the Social Security Trust fund, so the government is paying interest to itself. Unfortunately, all the doom and gloom you heard on social security is based on the government actually paying that money back. If they do not, the picture is even worse.

Buy gold, guns, and canned food!

[WildWindwalker]

Some of you are very close. U.S. treasury bonds are a way of buying are nations debt. But they have not been pushed in many years. John Wayne used to have commercials pushing them and supporting America. Today they aren't paid attention to.

The solution though is not a 760 plus billion bailout by the government. Then what is? O.K. here is the answer, sit down and be ready to be amazed.

If the government wants to get into private business they should get into oil drilling and refining. If they could sell gas @ 2.00 per gallon and be profitable, they could pay the national debt of with the profit. Oh wait, what about all the Big Oil investors? This is where the government could pass a special 12% capital gain tax on real estate investments, also make property investments even residential tax deductible. Then big Oil could invest the Billions of Dollars they have made the last few years. I don't need the credit for this extremely great idea, I would just like to see it implemented.

Don't worry it won't, because there is no pork barrel in it and no kick backs for senators or representatives. However our economy would be back on track in less than a year and our national debt paid off in five years.

[Tomflhrci98]

I guess in a small way it is a good thing that about half of the dept is borrowed from US citizens and companies. It is the other half that is more dangerous - being IOUs to other countries like REDHEAD says.

This dept has a way of devaluing the dollar which adds to the other problems we have with the economy. Maybe that’s why I see a lot of Canadians on vacation here. RED says something about the Germans that I don’t understand, but one thing the Germans did in the 30s was to ceate a run away economy by printing money every time they needed it. This is kind of the same thing with our rising National dept only with IOUs attached.

Wwwalker says something interesting about a Gov. owned oil company. It may sound good, but it is kind of Socialist. On the other hand, I have been trying to find out how much oil we, the US, actually have. One article I read said that if we drilled offshore and Alaska and stopped all imports we would run out of our oil in less than 4 years. Doesn’t sound like much. Then I found that we have twice what Saudi Arabia has under the Rockies but it is in shale and can’t economically be used. Another article said something about 30 year supply of oil under North Dakota and I have also heard we have a great supply of Natural Gas that could sustain all our needs for 50 years if we converted everything to run on Nat. Gas.

Still don’t know what the truth is but I’ll keep digging.