It's finally over

**Alric** · 08-28-2010 07:57 PM

The estimated cost of the war in Iraq alone, is something like 3 trillion dollars. How can you say 3 trillion isn't a big impact?

**Maria92** · 08-28-2010 08:40 PM

3 trillion spaced out over a decade. If you just sucked off 3 trillion from the U.S. in a day, it would be a big deal. But when you space things out, it really doesn't have that massive an impact. Think of it like buying a house. You don't just fork over 250k...you get a loan and pay it off in small, manageable payments.

**Alric** · 08-28-2010 11:20 PM

Umm no, it doesn't work like that. Three trillion is a ton, no matter how long it is spread over. That is a quarter of our national debt. Its funny you bring up housing loans, because that is exactly how its works. We bite off more than we chew, make huge interest payments then eventually default on the loan and lose the house. Instead we didn't actually gain anything from the war, so instead of a foreclosure we have a bankruptcy.

**Maria92** · 08-28-2010 11:53 PM

Bro, we're in debt. We aren't sunk yet, and we aren't going to sink. We aren't bankrupt, we aren't foreclosed. The war did not kill our country. Chill please.

**Alric** · 08-29-2010 12:38 AM

I don't think you realize how much debt 13 trillion dollars is. We are very close to the point, where we will never be able to pay it off. In fact, its very unlikely we can pay off the debt as it is now. And for the most part the government has stopped trying. They refuse to cut spending, and the debt keeps raising faster and faster every year. Almost the entire amount of money we pay in income taxes, goes to just paying the interest on the debt.

We are seriously screwed. The only realistic way to pay off the debt at the moment, is through massive inflation, which will devalue our money till its worth almost nothing.

**Xei** · 08-29-2010 12:55 AM

Yeah, just because the war didn't cause the crisis... doesn't mean it isn't a crisis. :l

I hear that the US is only halfway through it's bad private debt mountain... though I have a feeling the US isn't going to swallow another huge stimulus this time.

**Maria92** · 08-29-2010 07:53 AM

So in other words...abandon ship or abandon hope. Alright. Imma move to Canada then. Catch you in the aftermath.

**Xaqaria** · 08-30-2010 08:27 PM

Originally Posted by Mario92

Bro, we're in debt. We aren't sunk yet, and we aren't going to sink. We aren't bankrupt, we aren't foreclosed. The war did not kill our country. Chill please.

The only reason we aren't "bankrupt" is because congress has been feverishly raising the debt limit moments before we reach it. No country that has its own currency can ever go bankrupt by the standard definition. Our debt now is at about 93% of our GDP, however. This means that we owe almost as much as our entire country is able to produce in an entire year. This is not a sustainable path to be on, and amounts to virtual bankruptcy.

**Xei** · 08-30-2010 08:49 PM

Would you consider yourself bankrupt if you were in debt by a year's wage? How many mortgages would fall under this category when first taken out?

I don't pretend this is an intelligent point but I'd like to hear some explanation.

**Spartiate** · 08-30-2010 09:26 PM

The GDP is a poor measure of a country's ability to pay off public debt. Only the national government can pay off the debt, so it should be compared to the government's income (mostly through taxes).

In the case of the US, the public debt is currently 637% of the total yearly federal revenue.

**Black_Eagle** · 08-30-2010 11:46 PM

Originally Posted by Mario92

So in other words...abandon ship or abandon hope. Alright. Imma move to Canada then. Catch you in the aftermath.

If America sinks, everyone else goes with us. Our GDP accounts for 25% of the entire world's. It is in the world's best interest if America does not go down rapidly.

**Marvo** · 08-31-2010 03:40 PM

Originally Posted by Black_Eagle

If America sinks, everyone else goes with us. Our GDP accounts for 25% of the entire world's. It is in the world's best interest if America does not go down rapidly.

Haha
Right.

**Xei** · 08-31-2010 08:25 PM

It's true... cutting roughly 25% of all countries' exports isn't going to be great news.

**Spartiate** · 08-31-2010 09:36 PM

Originally Posted by Xei

It's true... cutting roughly 25% of all countries' exports isn't going to be great news.

What a great time to be living in North Korea!

**Xei** · 08-31-2010 09:48 PM

True, true.

**Marvo** · 08-31-2010 10:29 PM

Originally Posted by Xei

It's true... cutting roughly 25% of all countries' exports isn't going to be great news.

It's not like the world will completely crash back into the dark ages. Sure, it won't be pleasant, but don't think the rest of the world is screwed.

**spockman** · 09-01-2010 02:27 AM

Originally Posted by Black_Eagle

If America sinks, everyone else goes with us. Our GDP accounts for 25% of the entire world's. It is in the world's best interest if America does not go down rapidly.

Yeah, but the U.S. gradually losing power until it is no longer the world hegemon probably isn't going to seriously hurt anyone but us. The book "The Post-American World" is a neat read, even though I never finished it.

On another note, I am interested to see what textbooks will say about today in 10 years.

**Universal Mind** · 09-08-2010 10:26 PM

Oh, that Obama... What a talker! He says he has called our combat troops home from Iraq, yet we still have troops in Iraq, and many of them are engaged in combat. Words are fun. I love politicians.

Journalists face challenge: Is it really ‘end of combat’ in Iraq? | The Upshot Yahoo! News - Yahoo! News

US Declares Iraq War ‘Over,’ But Fighting Continues -- News from Antiwar.com

**spockman** · 09-09-2010 04:30 AM

Originally Posted by Universal Mind

Oh, that Obama... What a talker! He says he has called our combat troops home from Iraq, yet we still have troops in Iraq, and many of them are engaged in combat. Words are fun. I love politicians.

Journalists face challenge: Is it really ‘end of combat’ in Iraq? | The Upshot Yahoo! News - Yahoo! News

US Declares Iraq War ‘Over,’ But Fighting Continues -- News from Antiwar.com

If it cannot be interpreted at least half a dozen ways, either it wasn't a major statement or a major politician didn't state it.

**Black_Eagle** · 09-09-2010 07:39 AM

They need a buzz for the coming election season. I'd still rather have them than the Republicans.

**Knight** · 09-09-2010 11:42 PM

Black_Eagle
They need a buzz for the coming election season. I'd still rather have them than the Republicans.

I don't know.....This November will sure be very interesting.

I just hope that if the Republicans win, they make a better image for themselves.

**spockman** · 09-10-2010 04:38 AM

Originally Posted by Knight

I don't know.....This November will sure be very interesting.

I just hope that if the Republicans win, they make a better image for themselves.

I hope that people stay pissed at the republicans, get pissed at the democrats, and people turn to both the green and libertarian parties, respectively.