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AtheosEmanon — Deficit does not equal Debt
by-nd
Published: 2014-08-14 00:09:30 +0000 UTC; Views: 657; Favourites: 3; Downloads: 0
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Just a simple stamp… While this seems rather self-explanatory, but it seems more and more it is starting to happen.Especially under the current [American] administration.., when I speak to the decreasing of the deficit, I am often linked to the “debt clock” to say SEE, YOU ARE LYING, HE IS RAISING THE “DEFICIT”…
Debt and deficit; are not the same thing
The Debt is the total amount of money that a country owes to its creditors and that is what the debt clock shows…
A deficit is the difference between the amount of revenue the government gets annually, and how much over that revenue it spends…
So if the government gets 100B in revenue and spends 150B … then that is a 50B dollar deficit for the year..
..and of course a surplus is the difference between the revenue, and what is left over after your budget.. so if your revenue is 100B but you only spend - - or your budget only calls for 75B in funds.. then you run a 25B surplus for the year
In US history, according to the Treasury Department’s history of all of America’s debt since 1790
www.treasurydirect.gov/govt/re…
The US Debt only period of decline was between 1817-1836 under the Administrations of Madison, Monroe, Adams and Jackson… going from 127M in 1816… to around 38K in 1836 and since 1836 the debt has risen each and every year…
I do not know what much more to say, other than learn that DEBT and DEFICIT are not interchangeable words that can be utilized in each others' place.. they have very different meanings.
Now, it would be great to fully get rid of our debt.. do I expect that to happen in my lifetime? No… I do not expect America to get rid of 17 trillion in debt by the time I die.. took hundreds of years to get to that debt - - especially in the last 30 or so years which was when we first passed the trillion mark .. it may take decades or a century to get rid of it..
As always comrades,
Let knowledge be that truth, which portrays humanity, condemns malevolence; that respects the differences in others while abandoning the hatred and misconceptions of the past.
-Emanon
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Comments: 62
This is a problem that I come across more often then it should. Thank you for making this stamp.
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So is 17 trillion dollars in debt a really bad thing like I think it is? Because this is scaring me.
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It is when been artificially inflated by two unnecessary wars and massive tax cuts for the rich, and when we don't do the things that Atheos mentioned in his post.
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A debt that high makes me want to move to a richer country.
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Random Oddity
en.wikipedia.org/wiki/List_of_…
There are 18 countries ahead of us on a per capita debt...
Yet the countries in which their per capita, as in the debt that each citizen would be responsible for is the much higher than ours..
www.businessinsider.com/worlds…
Are also considered "richer countries" even though their per capita debt, for several of them that are "richer" than us.. have much higher per capita debt...
The issue with America is decades of destroying unions, decades of destroying the manufacturing class, decades since the Supreme Court said that companies can give however much money they want and thus started the great modern decline of our politics.. etc etc .. America needs to invest in America again, reform schools, infrastructure, prison and drug reform etc etc
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Any debt can be bad.. but as long as we are not missing payments and such then we do not default on our debt which is when things can get bad - - as you saw last time our credit rating took a bit of a hit..
So, I would say Debt in general is of course bad.. is it something you should be scared of .. I would say no.. I more so would like to see when/if in a few years if we are running surpluses that we start buying our debt back
money.cnn.com/infographic/news…
I would love if we started buying our debt back from the smaller countries, or setting aside monetary obligations promised and then using any extra money to start paying off our debtors.. I would much rather America owns its own debts than us owing dozens of countries..
.. I would prefer we buy back from the smaller countries first to just get them off the list of who we owe rather than just trying to attack the largest creditor, China..while still owing dozens more..
www.davemanuel.com/us-national…
But what America, vis a vis congress NEEDS to do is infrastructure jobs.. look at the economy of Turkey, how commerce and revenue greatly increased when they opened more airports, fixed roads and bridges that allowed more travel and trade... while in America www.infrastructurereportcard.o… ... we will need to spend around 4 trillion by 2012 to fix and modernize all of our infrastructure.. will we? . doubtful.
I apologize for the long comment..
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"we will need to spend around 4 trillion by 2012"
Don't you mean the end of 2014 or 2015?
"I apologize for the long comment.."
It's alright, I don't mind long comments.
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oops. I actually meant 2020! .. as the link www.infrastructurereportcard.o… says it will cost 3.6T by 2020 to fix and modernize our entire infrastructure... will that happen?... eh .. at the rate of this current congress where nothing worthwhile seems to be passing.. doubtful.
I would love to see congress say .. yes, 20% of our roads, bridges and highways are in dire need of repair, we are using trains to transport oil and gas ..some of which were on the tracks in the 1980s.. times to modernize the trains...
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