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Thread: U.S. Borrowing Needs Are EXPLODING

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    Radical Centrist BigLeRoy's Avatar
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    U.S. Borrowing Needs Are EXPLODING

    The US needs to borrow almost $300 billion this week - Mar. 27, 2018

    Gee. I hate to say "I told you so."

    I told you so.

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    Thanks Obama!

    $9.3 Trillion added to the national debt.

    That's nearly half!

    And, in only 8 years!
    Thanks from Southern Dad

  3. #3
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by Miller47 View Post
    Thanks Obama!

    $9.3 Trillion added to the national debt.

    That's nearly half!

    And, in only 8 years!
    Whataboutism is always fun, huh?

    No comment on the SUDDEN explosion in our CURRENT borrowing needs??
    Thanks from Friday13 and BigBob

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    Quote Originally Posted by BigLeRoy View Post
    The US needs to borrow almost $300 billion this week - Mar. 27, 2018

    Gee. I hate to say "I told you so."

    I told you so.
    We added $1.4 trillion to the national debt in FY2016 alone, not a peep out you then.
    Thanks from excalibur

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    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by Libertine View Post
    We added $1.4 trillion to the national debt in FY2016 alone, not a peep out you then.
    On the contrary, I was very critical of Mr. Obama for not pushing much harder to get Congress to take an up-or-down vote on the recommendations of the Simpson/Bowles Commission on the National Debt.

    Do you even KNOW anything about that Commission?

    Paul Ryan was another pol who PREVENTED Congress from taking that up-or-down yea-or-nay vote.

    I'm a true fiscal conservative. You are not, and most certainly Donald Trump is not.

    And America is in TROUBLE.

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    Veteran Member bajisima's Avatar
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    Quote Originally Posted by BigLeRoy View Post
    The US needs to borrow almost $300 billion this week - Mar. 27, 2018

    Gee. I hate to say "I told you so."

    I told you so.
    Also saw that individual US citizens are again maxing out credit as fast as they can. Consumers are carrying the heaviest debt loads in history. Doesnt bode well for the future.

    https://www.nbcnews.com/business/eco...ritory-n837251
    Thanks from BigLeRoy, Friday13, BigBob and 1 others

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    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by bajisima View Post
    Also saw that individual US citizens are again maxing out credit as fast as they can. Consumers are carrying the heaviest debt loads in history. Doesnt bode well for the future.

    https://www.nbcnews.com/business/eco...ritory-n837251
    I know, right?!? We're on the biggest spending splurge perhaps in the recorded history of the human race. It's beginning to become ALARMING.
    Thanks from bajisima, Friday13, BigBob and 1 others

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    Veteran Member bajisima's Avatar
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    Quote Originally Posted by BigLeRoy View Post
    I know, right?!? We're on the biggest spending splurge perhaps in the recorded history of the human race. It's beginning to become ALARMING.
    Scary stuff. Daughter was telling us the other night, one of her friends from college just bought a house. This girl has close to 300K worth of student loans and is a paralegal. Has a law degree but decided that "wasnt what she wanted right now." I kept asking "who gave her a mortgage?" Apparently she got some first time home buyer loan with 3% down. All I can think of is holy moly she will be so underwater if the economy tanks..
    Thanks from BigLeRoy, BigBob, Friday13 and 1 others

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    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by bajisima View Post
    Scary stuff. Daughter was telling us the other night, one of her friends from college just bought a house. This girl has close to 300K worth of student loans and is a paralegal. Has a law degree but decided that "wasnt what she wanted right now." I kept asking "who gave her a mortgage?" Apparently she got some first time home buyer loan with 3% down. All I can think of is holy moly she will be so underwater if the economy tanks..
    Yikes. Yet I can't really blame young people for desperately WANTING to buy a home, given how fast RENTS have been rising. Home prices have been rising rapidly, too. [Especially out here in the West!!] So they feel like they're being left out, like their only CHANCE is to 'get in the game' of home ownership, or they'll be left out forever. We saw the same sort of motivations back in 2003-2006.....except that back then, RENTS weren't rising as rapidly as they have been recently. But yes, this young woman could be in serious trouble if there is a downturn in the American economy and/or housing market in the next half-decade.....
    Thanks from bajisima, BigBob and Friday13

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    Quote Originally Posted by BigLeRoy View Post
    On the contrary, I was very critical of Mr. Obama for not pushing much harder to get Congress to take an up-or-down vote on the recommendations of the Simpson/Bowles Commission on the National Debt.

    Do you even KNOW anything about that Commission?

    Paul Ryan was another pol who PREVENTED Congress from taking that up-or-down yea-or-nay vote.


    I'm a true fiscal conservative. You are not, and most certainly Donald Trump is not.

    And America is in TROUBLE.
    Now that's funny!

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