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Z80A
Premium
join:2009-11-23

4 edits

We could do that...

...if we weren't $13.1 trillion in the hole, going to $20 trillion in just a few years along $109 trillion in unfunded liabilities all growing with no end in sight.

Evidently Finland doesn't get it either as their pub and private debt and spending also spiral out of control, increasing nearly 100% in just 4 years. Debt at 47% of GDP and climbing, GDP growth -7%...spending even MORE money they don't have...priceless. Evidently massive taxation isn't a cure for a horrible spending problem.

So sure, BB for all, followed by insolvency or hyperinflation...awesome.

EDIT - CORRECTED their spending increase percentage
--
"Our goal (was to make) a billion phones Flash-enabled by 2010...We're actually going to get 1 billion Flash-enabled phones by 2009." -Adobe Chief Technology Officer Kevin Lynch in Nov 2008.



Hazy Arc

join:2006-04-10
Greenwood, SC

At least they'll be able to download the news that their country is failing at a blistering 100mbps.


sonicmerlin

join:2009-05-24
Cleveland, OH
kudos:1

2 edits

1 recommendation

reply to Z80A

said by Z80A:

...if we weren't $13.1 trillion in the hole, going to $20 trillion in just a few years along $109 trillion in unfunded liabilities all growing with no end in sight.

Evidently Finland doesn't get it either as their pub and private debt and spending also spiral out of control, increasing 1000% in just 5 years. Debt at 47% of GDP and climbing, GDP growth -7%...spending even MORE money they don't have...priceless. Evidently massive taxation isn't a cure for a horrible spending problem.

So sure, BB for all, followed by insolvency or hyperinflation...awesome.
You do realize we're in the middle of a recession, right? The vast majority of able EU countries are spending to get themselves out of the recession. The recent G20 summit was focused on striking the right balance between debt minimization and stimulus spending. Not to mention the majority of US debt is owed to US citizens, not abroad. Your characterization of national spending habits is purposely misleading and ignorant.

Furthermore, if the government builds out the infrastructure it can be repaid over the course of its lifetime, and then supplement the government with profit. This is much better than giving money to giant, immobile corporations who do nothing but leech money from the economy while doing the bare minimum.


Stat101

@intel.com
reply to Z80A

Um... It would be to your benefit to learn how to read graphs. The data for 2003-2005 is from... wait for it... 1993. I bet 10-year predictions are 100% accurate, so your claim of this 1000% increase in 5 years must be solid.



Z80A
Premium
join:2009-11-23

1 edit

You're absolutely right.

Their debt nearly DOUBLED in just 4 years. Their horrid outlook is still exactly the same. GDP in the red and still spending like drunken sailors.