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Thread: US Debt

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    US Debt
    #1
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    #2
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    Come on....why did you post this thing...I could think of many reasons why it is completely misleading...

    https://www.piie.com/publications/wo...interest-rates
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    Quote Originally Posted by Conor Dary View Post
    Come on....why did you post this thing
    Because of this (which won't affect me, but will my kids, who are currently paying in):

    Congress knows a debt crisis isn’t far away. In less than 20 years, the Social Security Trust Fund won't have enough to cover the retirement benefits promised to baby boomers. That could mean higher taxes once the high U.S. debt rules out further loans from other countries, though Congress is more likely to curtail benefits than raise taxes. This would primarily affect retirees younger than 70, but it could also affect those who are high-income earners and not as dependent on Social Security payments to fund their retirement.
    https://www.thebalance.com/the-u-s-d...so-big-3305778
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    #4
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    Not really...anyways I see this thread heading nowhere good...since the amount of misinformation is so vast....but you started it...

    https://www.nytimes.com/2019/10/28/o...t-deficit.html
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    #5
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    Social Security isnt going anywhere. There's no hotter third rail in politics, and roughly a third of all retirees receive 90%+ of their income from it(60% it's their main source of income). And that's only going to go up as more companies phase out pensions.
    There are no strings on me
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    #6
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    I have a theory: on average ppl that fret over national debt are net tax payers and on average ppl who don't fret over national debt make a good living through contracts with the federal government or represent the big interests that do.

    It's not personal, it's just business.
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    I agree with both the points above, but yes, it is a 'thing', and like those who pooh-pooh Global Warming, it can indeed bite us in the butt in 20-30 years if the current slope of the line stays the same (obviously!).
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    #8
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    For one thing if the National Debt was such a catastrophe why are 10 year Treasury yields so low...today 1.8 %...
    Last edited by Conor Dary; 11-15-2019 at 03:05 AM.
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    #9
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    Quote Originally Posted by Atticus View Post
    I agree with both the points above, but yes, it is a 'thing', and like those who pooh-pooh Global Warming, it can indeed bite us in the butt in 20-30 years if the current slope of the line stays the same (obviously!).
    Yes it is something that can't be ignored forever....and we should be paying it down now....but I'm not going down that route...but it is manageable...it's not an existential crisis no matter you read...
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    #10
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    Quote Originally Posted by Atticus View Post
    I agree with both the points above, but yes, it is a 'thing', and like those who pooh-pooh Global Warming, it can indeed bite us in the butt in 20-30 years if the current slope of the line stays the same (obviously!).
    If I'm the CEO of a bank or business making a small fortune in contracts with the federal government I'm not the least bit worried about who's on the red side of that ledger.
    Last edited by user4; 11-15-2019 at 05:56 PM.
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