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Obama Has A Plan To Crush The Amount Of Us Debt

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$14.1 Trillion debt

$1.5 Trillion deficit

The deficit to be cut by $400bn in the next decade.

It's all contained.

President Obama will reveal his new budget on Monday as America struggles under a record debt mountain of $14.1 trillion.

That represents $45,000 of debt for every man, woman and child in the US.

Rather than usher in his own 'age of austerity' measures like those in the UK and Greece, the White House is proposing to freeze non-military discretionary spending for five years, while government workers will see their salaries pegged.

The president believes this will reduce the deficit by $400bn over the next decade.

But based on current spending figures, the gap between the amount the government raises in taxes and the amount it spends is $1.5 trillion while the country's accumulated amount of debt is almost 10 times that figure.

Written down, the figure would challenge the screen of most pocket calculators: $14,144,355,000,000 (at time of writing).

The current administration worries that if it brings in much tougher cuts, it may damage the fragile recovery and hurt the poorest Americans.

Sky News

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Let me get this right.

Obama is going to tackle the 14.1 Trillion dollar debt by borrowing at least 1.1 Trillion dollars a year over each of the next ten years.

Is he confusing "tackle" the debt with "double" the debt?

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Thank God for that, seems the UK's $500Bn US treasury holdings were a good investment after all.

Just because US treasuries are bought via the UK does not mean they are held by the UK. Ours is a semi-criminal money-laundering economy.

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Let me get this right.

Obama is going to tackle the 14.1 Trillion dollar debt by borrowing at least 1.1 Trillion dollars a year over each of the next ten years.

Is he confusing "tackle" the debt with "double" the debt?

You got it, that's Obamanomics in operation. America's time in the Hurt Locker cannot be far off now surely.

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Remember these are probably nominal figures. Now adjust them with 5% inflation for ten years.

The gameplan is default on the weak. Let the BRIC nations take the loss by depreciated debts, and appreciating currencies.

Dr Evil and Mini me could not have done it better. After all this is how you're perceived

;)

Just because US treasuries are bought via the UK does not mean they are held by the UK. Ours is a semi-criminal money-laundering economy.

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The gameplan is default on the weak. Let the BRIC nations take the loss by depreciated debts, and appreciating currencies.

in retyurn for massive technology transfer, and a forced improvement in diplomatic relations aka less US invasions, sounds a passable deal

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$14.1 Trillion debt

$1.5 Trillion deficit

The deficit to be cut by $400bn in the next decade.

It's all contained.

It seems he may well have been taking advice from Ed Balls.

US debt is nit sustainable, is it, no matter how you dress it up. Some form of default is the only option, then a long decline, such that has befallen many empires before.

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Tax and spend, spend, spend.

How long will it be before the bond markets up their rates like Greece, ireland, etc? Oh hang on, why would they need the bond markets to buy their debt when the Fed can just print a few billion to buy it instead. My mind boggles how the chinese and the other debt holders tolerate such stupidity....

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Let me get this right.

Obama is going to tackle the 14.1 Trillion dollar debt by borrowing at least 1.1 Trillion dollars a year over each of the next ten years.

Is he confusing "tackle" the debt with "double" the debt?

It seems a cunning plan, if they borrow more money then hopefully they'll increase the tax revenue, thus reducing the debt.

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What is the value of goods the US buys from China every year?

For every dollar the US spends, if China has a 100% mark up and it only cost 50 cents to make - even if they write off 25 cents of the profits in buying worthless US debt, they still have a 25 cents profit - and the Chinese still have jobs.

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Guest sillybear2

Just because US treasuries are bought via the UK does not mean they are held by the UK. Ours is a semi-criminal money-laundering economy.

You mean an "innovative dynamic and flexible leading global banking centre"? ;)

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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