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SnakebyteXX
03-18-2006, 07:10 AM
US spends its way to 28 Eiffel towers: made out of pure gold
From Tim Reid in Washington

IF YOU are worried about how much you owe on your credit cards, this might put things in perspective: America’s national debt limit was increased yesterday to $9 trillion. That’s $9,000,000,000,000 — enough to buy Buckingham Palace 9,000 times.

The increase, passed by Congress, allows the Government to borrow another $781 billion (£447 billion), increasing the national debt limit — the maximum America can borrow — from $8 trillion and $184 billion to $8 trillion and $961 billion.

If the debt ceiling, which is set by Congress, had not been raised by March 24, the Administration would not have been able to borrow more money and the US would have begun to default on its domestic and foreign obligations, an untenable consequence.

The vote to increase the debt limit, requested by the White House, is the fourth since Mr Bush took office. In 2001 the national debt was $5.7 trillion. Today it has ballooned to $8.2 trillion, figures rarely talked about in Washington.

The national debt is the total amount owed by the Government. It is not to be confused with the federal budget deficit, which is the yearly amount by which spending exceeds revenue. When budget deficits are big, the national debt inevitably increases.

When Mr Bush took office he inherited a $236 billion budget surplus. Bill Clinton, his predecessor, had used budget surpluses to pay down some of the national debt in his last two years in office. Mr Bush also inherited some extraordinarily overoptimistic projections. Experts pronounced that budget surpluses would increase to $5.6 trillion over ten years, and there was even heady talk of paying off the entire national debt with the proceeds.

Since then a combination of factors — the September 11, 2001, attacks, unexpectedly low tax revenues, Mr Bush’s tax cuts and runaway government spending — have plunged the yearly budget back into deficit. This year it will reach nearly $400 billion.

What worries many analysts is the amount of US debt financed by foreign governments and banks, particularly in Asia. The national debt is split between publicly held debt — money owed to US and foreign investors — and money owed to branches of the Government. Nearly half the publicly owed debt is held by foreigners. Japan is the biggest creditor, at $668 billion. China, the second-biggest, recently increased its stake by $40 billion to $263 billion.

“We used to have much less held by foreigners,” Alice Rivlin, a former budget director for Mr Clinton, said. “It makes you much more vulnerable to people’s agendas.”

Historically, today’s national debt is the highest in dollar terms, but not as a percentage of GDP. In 1946 it was $270 billion — 122 per cent of GDP.

Today it is 65 per cent of GDP, very close to the postwar high of 67 per cent in 1996.

America has had a national debt since 1791, when it was $75 million. Today it rises by that amount every hour.

$9 TRILLION


Is roughly four times Britain’s GDP

Equates to $1,500 for every man, woman and child in the world

Would buy all the tea in China. In fact it would buy all the tea in the world for the next 2,000 years.


Is enough to solve the Palestinian crisis by rehousing every Israeli and Palestinian family in a £1.5m detached house in Henley-on-Thames

Would build 28 Eiffel Towers — constructed out of gold.



web page (http://www.timesonline.co.uk/article/0,,11069-2090441,00.html)

Deeman3
03-18-2006, 07:40 AM
O.K., Its been about 10 years so I'll fess up. In about 1997 or so, we were making our 5th trip of the Summer from Frankfurt to Paris and taking another endless line of relatives or friends to see the redundant (for us) sights of Paris; Eiffel Tower, Arch De Triumph, Notre Dame, The Louve, you get my drift.

Anyway, we are on the top level and I'm playing my usual cheerful host part when I feel a little woosey. I pardon myself and step over next to an internal support structure while my wife (Deewoman #1) continues to go on about what we can see from there. As I am bent over recovering from my little case of the gasps, I see a screw protruding out of a beam about a foot below the inner rail I am leaning against. Being a mechanical engineer, I am wondering why it is loose. It could fall and kill a non-French person. I had to bend a great deal with nothing but air below me to the bottom but a nice mesh to catch me if I fell. I pulled on the bolt and it came off in my hand. Now I have a part of the French National Treasure of Paris in my hand! Now understand, this is not one of the 500,000 rivits that was used but an original lag bolt that is far less common, about 2 inches in diameter and about 5 inches long. It was obviously an original construction part and had the peened head and lathe cut threads (not mass produceed).

Anyway, at that time, I still tolerated the French as they had not completely capitualted their country yet and dutifully gave the bolt to a policemean when we got back down. He just frowned and pitched it into a garbage can! I retrieved it later and now have it at home next to my piece of the Great Wall, my rock from Hadrain's Wall, my chip of Stonehedge, my Tienemen Square hand rail, my Russian Icon, my brick from the Lorraine Motel and my collection of military and police hats from 49 countries.

If we do decide to build a solid gold Eiffel Tower, I'll trade my piece of it in for the gold, maybe....


Deeman
plundering the world since 1952....

Gayle in MD
03-18-2006, 07:41 AM
Absolutely obscene!!! When I say he is destroying the country, there is no exaggeration involved.

But hey, if not for Clinton's BJ, and that nasty Roosevelt, none of this would be happening, LMAO! /ccboard/images/graemlins/smirk.gif

Gayle in MD
03-18-2006, 07:52 AM
Funny story Deeman,
I, too, have a piece of the Berlin Wall, I keep on my window sill, at the kitchen sink. I've often thought the picture of the young man, standing arms spread, in front of the tanks, at Tienemen Square, would make a great poster for us here in America, with just one word beneath, VOTE !

Gayle in Md.

Deeman3
03-18-2006, 08:40 AM
<blockquote><font class="small">Quote Gayle in MD:</font><hr> Funny story Deeman,
I, too, have a piece of the Berlin Wall, I keep on my window sill, at the kitchen sink. I've often thought the picture of the young man, standing arms spread, in front of the tanks, at Tienemen Square, would make a great poster for us here in America, with just one word beneath, VOTE !

<font color="blue">All the while, standing in Tienemen Squre, all I could think of was that image of the brave young man you are speaking of. I could see him, holding his package at his side, refusing to move. We sometimes take our freedom for granted, all of us. All that young man had to offer was his life, not knowing he would be a symbol for everyone, he faced that tank.

We don't often agree but I believe "Vote" would be an appropriate title for the picture.

He was the Chinese Nathan Hale....</font color>

Deeman

Gayle in Md. <hr /></blockquote>

Gayle in MD
03-18-2006, 08:46 AM
Well, may we both relish this rare moment of mutual appreciation for one of the most gripping and touching moments in time. As when I hear our National Anthem, anytime I see that picture, it makes my cry.

Have a good day, Deeman...

Gayle in Md.

wolfdancer
03-18-2006, 09:59 AM
Say, what is happening to the board here? Two opposing party members....having a friendly chat????
Red Skelton used to do a skit in pantomime, where he was laboriously climbing up to the top of the Eiffel tower with his wife. when they finally get there, he is trying to take a picture of her, ands keeps waving her to go back, to get the focus right....then to his horror...she trips over the rail and disappears.
I didn't walk up the tower, but did walk down.....you could do that then (I did notice a missing kingpin bolt) Had a nice dinner in the tower restaurant, then headed off to see the Louvre, the Moulin Rouge....but we rationalized, if you've seen one night club, one musuem, you've seen them all...so we headed for Pig Alley, Place Pigalle.....where the beer was cold, and the women were hot.

Drop1
03-19-2006, 07:33 PM
Many a brave lad fought the battle of Pigalle /ccboard/images/graemlins/grin.gif

eg8r
03-20-2006, 05:19 AM
[ QUOTE ]
The national debt is the total amount owed by the Government. It is not to be confused with the federal budget deficit, which is the yearly amount by which spending exceeds revenue. When budget deficits are big, the national debt inevitably increases.

When Mr Bush took office he inherited a $236 billion budget surplus. Bill Clinton, his predecessor, had used budget surpluses to pay down some of the national debt in his last two years in office. <hr /></blockquote> Here is another article that shows Clinton did not have the "surplus" Gayle would have everyone believe. Now that Snake posted the article will he be made fun of by Gayle?

The sad part about all of this is that while Clinton tried to pay the debt down some in his last two years, W has not been able to figure out a way to just spend in his limits. W is just like the majority of Americans, spending beyond his means.

eg8r

Qtec
03-20-2006, 08:15 AM
Quote:
--------------------------------------------------------------------------------

The national debt is the total amount owed by the Government. It is not to be confused with the federal budget deficit, which is the yearly amount by which spending exceeds revenue. When budget deficits are big, the national debt inevitably increases.

When Mr Bush took office he inherited a $236 billion budget surplus. Bill Clinton, his predecessor, had used budget surpluses to pay down some of the national debt in his last two years in office.
--------------------------------------------------------------------------------

<font color="blue"> quote eg8r, "Here is another article that shows Clinton did not have the "surplus"....... </font color>


Unbelievable.
Notice the bold sentence above? What does it say?


Just in case you are confused,
The national debt is the total amount owed by the Government. It is not to be confused with the federal budget deficit, which is the yearly amount by which spending exceeds revenue.

You surpassed yourself on this one Ed. /ccboard/images/graemlins/shocked.gif /ccboard/images/graemlins/grin.gif
Q /ccboard/images/graemlins/crazy.gif

Gayle in MD
03-20-2006, 08:38 AM
LMAO...Just for the record, Q., would this error be considered worse than a typo, if the typist had long nails, LOL.
We must pitch in and send Ed some reading primers...

See Spot Run. Spot has the ball. See Dick. Dick took the ball. See Jane. Jane ran to get the ball.

Ah, I dunno' know, might be too advanced...

/ccboard/images/graemlins/smirk.gif

eg8r
03-20-2006, 10:54 AM
[ QUOTE ]
Unbelievable.
Notice the bold sentence above? What does it say?
<hr /></blockquote> Keep reading bonehead (it is in your quote). /ccboard/images/graemlins/smile.gif

Gayle has spouted many times that Clinton paid down EVERYTHING and left a surplus. When Debra mentioned this was not entirely true, Gayle chastised her and poked fun in a few more threads. Now we have another post, one by Snake, that says the same thing Debra said, and it is now you who grabbed the dunce cap. /ccboard/images/graemlins/smile.gif

I added the previous paragraph to my quote, knowing for sure, no one would be dumb enough to make a post like the one you just did. I am sorry but you even failed there also. /ccboard/images/graemlins/smile.gif

eg8r

Qtec
03-21-2006, 09:05 AM
Debra was wrong also. I challenged her on her claim that 'Clinton never had a surplus' and she had to back-down. The Nat Debt has NOTHING to do with whether a Govt had a BUDGET surplus or defecit.
If you want to measure a Govt's/the economy's performance, you cant include a debt inherited from previous administrations thats been built up over many years.

Q.....I read an article that says the total US debt- public and private- is between 60-70 trillion!

TomBrooklyn
03-21-2006, 11:50 AM
<blockquote><font class="small">Quote SnakebyteXX:</font><hr>The increase allows the Government to borrow another $781 billion<hr /></blockquote>
Well thank goodness. I was beginning to worry we might have to slow down on killing, eh I mean saving Iraqies.

Who cares how we pay it back or if we bankrupt the country for our children and grandchildren. Let them figure out how to pay it back. LoL.

eg8r
03-21-2006, 01:00 PM
[ QUOTE ]
The Nat Debt has NOTHING to do with whether a Govt had a BUDGET surplus or defecit.
<hr /></blockquote> Q, save us, you really have no idea what you are talking about and are just paraphrasing something you read in a recent post here on the board. You have never provided any information on this board to ever give someone reason to back down. Nobody said the Nat debt and gov't debt are the same thing. The problem with your argument is that Gayle was making claims that Clinton paid EVERYTHING off. Everything is all encompassing and she was dead wrong. You are worse off because you are defending it. If Clinton was the true saint you fantasize about then he would have paid off ALL the debt, which he was definitely not going to be able to do (nobody else has either). If you or Gayle want to make outrageous claims you should be able to back them up or offer some clarification. Instead you get all defensive when questioned. Get over it.

eg8r

Gayle in MD
03-21-2006, 02:00 PM
As usual, eg8r is lying about what I wrote. I never said Clinton paid down EVERYTHING...I said he left a surplus, a surplus that had absolutely nothing to do with ROOSEVELT!!!

One thing is absolutely for sure, we won't ever be arguing about how much surplus BUSH left behind, LMAO!!!

Gayle in Md.

Qtec
03-21-2006, 07:55 PM
'" The problem with your argument is that Gayle was making claims that Clinton paid EVERYTHING off."
No she didnt. here is the thread.
thread (http://www.billiardsdigest.com/ccboard/showflat.php?Cat=&amp;Board=npr&amp;Number=219803&amp;Forum=Al l_Forums&amp;Words=DebraLiStarr&amp;Match=Username&amp;Searchp age=1&amp;Limit=25&amp;Old=allposts&amp;Main=219790&amp;Search=tru e#Post219803)

Once more you try to put words into people's mouths. If you have proof to back-up your claim, lets see it.

Q

Gayle in MD
03-21-2006, 11:35 PM
Thanks Q,
Ed tells so many lies on here it's hard to keep up with all of them!

Gayle in Md.
Proud to say I didn't vote for Bush!

eg8r
03-22-2006, 11:07 AM
[ QUOTE ]
'" The problem with your argument is that Gayle was making claims that Clinton paid EVERYTHING off."
No she didnt. here is the thread.
thread

Once more you try to put words into people's mouths. If you have proof to back-up your claim, lets see it.
<hr /></blockquote> I don't have the desire to research this, it would only force me to read through it all. Are you for absolute certain that the only time Gayle has EVER mentioned Clinton and the surplus was in that one single thread? I don't think you are prepared to take on the challenge of answering that simply because Gayle has a problem with regurgitating all her made up stories in every other post. This is one of her traits. If Gayle is unable to answer a questions directly, she will regurgitate everything in her head to try and divert attention away from the question. Fran has called her on it a couple times. It is in these posts you will find the proof. And no I don't have the stomach to weed through the crap.

So, no I don't believe the post you linked to is all the evidence of Gayle mentioning Clinton's surplus and I do remember her making the statement that Clinton left with no debt, period. When challenged she did not reply.

It is funny that you are asking me to provide proof to a statement of yours in which you have not provided any proof. /ccboard/images/graemlins/smile.gif

eg8r

eg8r
03-22-2006, 11:09 AM
Like a little puppy you have followed someone who has replied to me. Come on, be the big dog again and speak for yourself. /ccboard/images/graemlins/smile.gif I don't think you are being honest with yourself in respect to the ban.

eg8r