Posted on Nov 2, 2015
Nation debt will be $20 trillion by 2017.... will it ever stop?
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The budget for the next two years had done, so we can actually can project our debt with accuracy ... by the time President Obama step down, we will be facing $20 trillion debt ... I still remember the argument of $14 trillion ... will it ever STOP increasing?
Posted in these groups: 
Finance
Finance
Posted 10 y ago
Responses: 8
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COL Jean (John) F. B.
SSG Buddy Kemper - It is a great quote that is right on target, however, here is the origin of it (from Wikipedia):
"You cannot multiply wealth by dividing it."
This quote appears frequently on the Internet and is often attributed to Dr. Rogers with an incorrect date of 1931. In fact, the quotation is part of a longer sermon by Dr. Rogers' from 1984 in a larger series titled God’s Way to Health, Wealth and Wisdom, but it also appears as a passage in Dr. Rogers' 1996 work Ten Secrets for a Successful Family stating that "by and large our young people do not know either the importance or the value of honest labor".
Rogers did not originate the quote at all. In fact, he did not claim to have originated it. Instead, he was citing almost verbatim a bit of anti-Soviet propaganda that had circulated in many magazines in the early 1960's.The quote appeared before that in the Congressional Record of 1958, where they were appended to the record by congressman Bruce Alger. Alger had borrowed the words from Gerald L. K. Smith, who had written them first in his magazine, The Cross and the Flag. Since the quote was attributed to Rogers in 2009, it has been regularly attributed to him; however, Rogers was essentially quoting Smith at the time.
"You cannot multiply wealth by dividing it."
This quote appears frequently on the Internet and is often attributed to Dr. Rogers with an incorrect date of 1931. In fact, the quotation is part of a longer sermon by Dr. Rogers' from 1984 in a larger series titled God’s Way to Health, Wealth and Wisdom, but it also appears as a passage in Dr. Rogers' 1996 work Ten Secrets for a Successful Family stating that "by and large our young people do not know either the importance or the value of honest labor".
Rogers did not originate the quote at all. In fact, he did not claim to have originated it. Instead, he was citing almost verbatim a bit of anti-Soviet propaganda that had circulated in many magazines in the early 1960's.The quote appeared before that in the Congressional Record of 1958, where they were appended to the record by congressman Bruce Alger. Alger had borrowed the words from Gerald L. K. Smith, who had written them first in his magazine, The Cross and the Flag. Since the quote was attributed to Rogers in 2009, it has been regularly attributed to him; however, Rogers was essentially quoting Smith at the time.
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SSG Buddy Kemper
Interesting Sir, what was once "a bit of anti-Soviet propaganda" can now properly be leveled at the side of our own house which is the tax and spend, class-warfare& "free stuff" party.
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COL Jean (John) F. B.
SSG Buddy Kemper - Democrat/Socialist/Communist/Progressive/Liberal ... As another old saying goes... "A rose by any other name is still a rose"
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PO3 (Join to see)
China's money had already run dry for few years now ... China herself is in deep economical trouble too ... so ... the question is ... where are the money come from now? some said ... the Federal Reserve printing press ( or so they call digitizing)
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I hope it will be begin to be reversed by the next administration and Congress PO3 (Join to see). Unfortunately government austerity rarely are received well. I hope and pray that our nation's leaders will see the wisdom of reducing spending levels below tax revenue.
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PO3 (Join to see)
I hope I am wrong on this ... I think there is no way to reverse it ... it is to survive or to be destroy ... I got that feeling that the end is getting closer ...
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LTC Stephen F.
PO3 (Join to see) - I am not expecting a total reverse which would be possible if we devalued our currency to near worthlessness. That would be the death-knell for this nation and the dollar :-)
I am hopeful that the idea of getting most goods and services "free of charge" to the user will be scaled way back to a fee- for-service arrangement to those who can afford it - up to two time federal poverty level.
I am hopeful that the idea of getting most goods and services "free of charge" to the user will be scaled way back to a fee- for-service arrangement to those who can afford it - up to two time federal poverty level.
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PO3 (Join to see)
Both parties are like drunks when it comes to money and we the public are the gullible enabler.
The spending will not stop until it is the 1) will of the market - No one will lend us more money or 2) the will of the people - not holding my breath.
It has been rare times that we have talked long term debt and it takes a moral conviction that neither party seems to have.
Both parties are like drunks when it comes to money and we the public are the gullible enabler.
The spending will not stop until it is the 1) will of the market - No one will lend us more money or 2) the will of the people - not holding my breath.
It has been rare times that we have talked long term debt and it takes a moral conviction that neither party seems to have.
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SSG Buddy Kemper
LTC John Shaw Amen, Sir!!! The phrase drunken sailor (sorry to all my Navy brothers& sisters) comes to mind when I think about our how our leaders have sold us down the river with this ridiculous debt. Of course a drunken sailor is only spending HIS money!!! It seems criminal really what has happened with our National debt. It's gonna take a lot of work and a long time to get back to where we need to be. Thanks for sharing your thoughts on here.
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No. Not as long as there are so many freeloaders running around with their hands out. What happened to self reliance?
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PO3 (Join to see)
Self reliance become uncool and weird. The media is also not helping by showing all those Dooms Day prep-er and making them look "crazy".
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Not until we get a group of competent people on the hill who cares about this country and just themselves.
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PO3 (Join to see)
The number is growing .... I just worry by the time needed for the numbers become critical enough to able to make changes ...
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Will it ever stop? Eventually... At some point the cost won't have a real meaning...
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PO3 (Join to see) National Debt is like Unicorn. It is a magical number that stirs emotions. It is a number that politicians use to scare people about what the other side is doing. As a nation it is sad that we have devolved from a nation of producers to a nation of consumers. Eventually what will happen is the government will step in print trillions of dollars in cash, devalue the dollar, pay off the debt, and leave us screwed by a dollar that is worthless. If you think it is bad now, just wait. Maybe we had to offer up collateral against the debt, then there would be incentive to pay it off. Imagine how fast the debt would be paid if the phrase "you us six trillion dollars, we are taking California until it is paid back." was uttered.
People have a credit rating. That credit rating determines how much above their income they can spend. The credit extended to a person is based on ability to pay it back. A person cannot just simply raise their credit limit because they are broke and need to have more credit to pay on the debt they already have. So why is the government doing that. Why do they say we as citizens need to take responsibility for our financial position when the government's response to fiscal responsibility is more debt. No bad government, no votes for you.
People have a credit rating. That credit rating determines how much above their income they can spend. The credit extended to a person is based on ability to pay it back. A person cannot just simply raise their credit limit because they are broke and need to have more credit to pay on the debt they already have. So why is the government doing that. Why do they say we as citizens need to take responsibility for our financial position when the government's response to fiscal responsibility is more debt. No bad government, no votes for you.
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