US debt clock runs out of digits
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Re: US debt clock runs out of digits
Originally Posted by IndieG
(Post 6861785)
Still a sign of the times, IRRC when Clinton left office the it was closer to $5-6tn! Mind you to add perspective: White house estimated cost of war in Iraq prior to war: $50-60bn Lawrence Lindsay predicted a cost of between $100-200bn and got fired for it before the war. I think most people now agree it's at about $500bn+ now. ETA: I read somewhere that investors where more confident in McDonalds repaying debt than the U.S. government. |
Re: US debt clock runs out of digits
Originally Posted by Charismatic
(Post 6861805)
They can just print some more cash to cover the interest ;).
Still a sign of the times, IRRC when Clinton left office the it was closer to $5-6tn! Mind you to add perspective: White house estimated cost of war in Iraq prior to war: $50-60bn Lawrence Lindsay predicted a cost of between $100-200bn and got fired for it before the war. I think most people now agree it's at about $500bn+ now. ETA: I read somewhere that investors where more confident in McDonalds repaying debt than the U.S. government. While the US is regarded as a 'safe haven', investors will continue to buy T-Bonds from the US Treasury. By the way - that USD 10 trillion is only what has already been spent over and above previous incoming revenues - if you add in promised commitments and other obligations (eg on heathcare etc) it is nearly USD 60 trillion.......... |
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