Quote from: zorke on September 13, 2014, 07:22:11 AM

Quote from: lyth0s on September 13, 2014, 06:50:07 AM

Quote from: itsAj on August 31, 2014, 04:10:54 AM

Quote from: bl4kjaguar on August 31, 2014, 03:11:47 AM

Quote from: itsAj on August 31, 2014, 02:46:48 AM

Quote from: lyth0s on August 30, 2014, 03:44:53 AM

Quote from: lihuajkl on August 30, 2014, 02:53:09 AM

The Fed will keep printing dollar to keep their balance sheet under controlled. The debt ceiling will be raised again and again. At least they can make the creditors believe they can pay back when due.

Exactly. Debt will always raise faster since we have to pay the federal reserve interest for every dollar printed. This means that we can never, ever pay off our national debt. If the debt ceiling is ever truly capped, then our economy collapses and becomes crushed under the debt (there will always be more debt than actual dollars). This is why the US credit rating is under fire every time there is even discussion about "not increasing the debt ceiling".

The debt ceiling is only capped by statue, as long as congress continues to raise the ceiling the US government's ability to borrow will generally continue. If the market were to decide that the US would not be able to make good on it's debt then it would be shut out of the debt market.

The reason why we are unable to pay off our national debt now is because we are running a budget deficit (spending more money then the government is receiving in tax revenue), once the government starts to run a budget surplus (spending less money then receiving in tax revenue), then the national debt will be able to start to get paid off.

Are you sure that you are not just repeating government-sponsored tax myth? The government has many income streams...

You understand completely the national debt? Is that because you are an expert?

A complete government and (taken over by government) syndicated news media blackout has existed for over 60 years, DUE TO THE MONEY INVOLVED!

http://cafr1.com/GovernmentDebt.html

More about the media cover-up:
http://cafr1.com/knowthescore.html

I am not sure what you are talking about. The definition of a budget surplus is when more money is taken in via revenues (mainly taxes) then is spent via government expenditures. I did not say anything about how easy this would be.

Our debt could never be paid off in USD. The US Treasury borrows money from the federal reserve bank of New York and pays back an interest rate. Only way to pay back the interest is to borrow more money from the fed. It is a perpetual debt cycle, it can never, ever be paid off.

This is not true. If the government collects more in taxes then they spend in expenditures then the debt would be paid down. If this is done in high enough amounts then the debt would be paid off.

The fact that the treasury borrows some of the money from the federal reserve does not have anything to do with anything

This is technically correct, however the amount we have borrowed in the past 6 years is so much that it will take decades of big surpluses to pay off all of our national debt. The reality is that we have simply spent to much money while Obama has been in office.