Comments about the national debt

[W1GUH]

Lack of urgency on national debt is a scary stance (http://www.latimes.com/business/la-fi-lazarus23sep23,1,5219922.column?coll=la-utilities-business)

Be sure to read the last lines about the FM.

[k4kyv]

Quote[/b] ]According to Riedl's calculations, the debt-to-GDP ratio could climb as high as 300% over the next 40 years unless steps are taken to reverse the trend. In other words, we'd owe three times as much as all our goods and services are worth in a single year.

Isn't there a word for that -- something like bankruptcy?

[kc7jty]

what HE worry? We're on a spending spree right now, that's the feel good time. http://www.qrz.com/iB_html/non-cgi/emoticons/sad.gif

[N3ATS]

Get ready to see pennies and nickels being made out of another material. As of right now, the base metal value of a single US cent is 7/10 cents, and a nickel is worth over 7 cents just in materials.

Combine that with the cost of production, and the government is actually losing money minting these coins.

Hold on to your pre-1982 pennies. The copper in them (95%) is worth almost 2.4 cents.

[k4kyv]

Hopefully, they will quit making pennies pretty soon. I read somewhere that the US mint spends more manufacturing pennies than all other coins put together, because they are now so worthless no-one wants to carry them around. People just drop them in a jar or toss them away, taking them out of circulation as fast as the Mint can manufacture them.

It hasn't been that long ago that a penny was equivalent to 5 cents in to-day's money. We got by OK using pennies of that era, so we could just as easily make do with the minimum of a 5-cent coin to-day.

[kc0ukk]

Quote[/b] ]"Debt right now isn't out of control," said Brian Riedl, senior budget analyst at the conservative Heritage Foundation

Looks like it isn't going to be Bush who bankrupts us. It is going to be our government though.

[kc7jty]

Quote[/b] (k4kyv @ Sep. 23 2007,12:44)]Hopefully, they will quit making pennies pretty soon. #I read somewhere that the US mint spends more manufacturing pennies than all other coins put together, because they are now so worthless no-one wants to #carry them around. #People just drop them in a jar or toss them away, taking them out of circulation as fast as the Mint can manufacture them.
wonderful situation isn't it. don't expect pennies to go away in our lifetime. they are the perfect pacifier for a very stupid and ignorant people.

[KG4JYD]

Ron Paul is the only candidate discussing the deficit and the debt and how to reduce them. If you want to see these things change, I suggest you research Ron Paul and consider voting for him in the upcoming primary.