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Last post 11 years ago by Brewha. 22 replies replies.
My family owes $210,000
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Abrignac Offline
#1 Posted: Thu, Dec 27 2012, 11:55 AM EST
Joined: 02-24-2012
Posts: 17,391
Geithner: Debt Limit of $16.39 Trillion Will Be Met New Year's Eve

Considering there are ~ 311 Million people in the US my family of 4 owes $210,000 towards the current national debt. Seeing that I don't recall signing any promissory notes, I have a few questions regarding my debt.

Does this include any IOU's to Social Security, or should I add a few bucks each month to cover this as well?
Of the 311,000,000; how many of those are non-taxpayers, I'd like to know what factor to use when multiplying to determine our TRUE share?
dstieger Offline
#2 Posted: Thu, Dec 27 2012, 12:26 PM EST
Joined: 06-22-2007
Posts: 10,889
Just make the check out to Wen Jiabao. Will save a couple bucks in transaction fees.
dpnewell Offline
#3 Posted: Thu, Dec 27 2012, 12:37 PM EST
Joined: 03-16-2009
Posts: 7,491
Dude, don't worry. The printing presses are running at full speed printing fiat dollars. The President has you covered.
Brewha Offline
#4 Posted: Thu, Dec 27 2012, 2:18 PM EST
Joined: 01-25-2010
Posts: 12,207
dpnewell wrote:
Dude, don't worry. The printing presses are running at full speed printing fiat dollars. The President has you covered.

No – It’s a private banking cartel called the Federal Reserve. And they get 6% interest of every dollar in circulation (nice deal for them, huh?).
rfenst Offline
#5 Posted: Thu, Dec 27 2012, 10:51 PM EST
Joined: 06-23-2007
Posts: 39,473
dstieger wrote:
Just make the check out to Wen Jiabao. Will save a couple bucks in transaction fees.


The "China owns us fallacy" is just that.
rfenst Offline
#6 Posted: Thu, Dec 27 2012, 11:01 PM EST
Joined: 06-23-2007
Posts: 39,473
Abrignac wrote:
Geithner: Debt Limit of $16.39 Trillion Will Be Met New Year's Eve

Considering there are ~ 311 Million people in the US my family of 4 owes $210,000 towards the current national debt. Seeing that I don't recall signing any promissory notes, I have a few questions regarding my debt.

Does this include any IOU's to Social Security, or should I add a few bucks each month to cover this as well?
Of the 311,000,000; how many of those are non-taxpayers, I'd like to know what factor to use when multiplying to determine our TRUE share?


What about assets that off-set the debt (if any)?

You know, like you own a brand new house worth $100k and owe on a brand new $100k mortgage that you are paying down... or a $200k mortgage on the $100k house... or a $50k mortgage....

Got to look at the whole balance sheet, not just one side of it.


Just sayin'
Abrignac Offline
#7 Posted: Fri, Dec 28 2012, 1:22 AM EST
Joined: 02-24-2012
Posts: 17,391
rfenst wrote:
What about assets that off-set the debt (if any)?

You know, like you own a brand new house worth $100k and owe on a brand new $100k mortgage that you are paying down... or a $200k mortgage on the $100k house... or a $50k mortgage....

Got to look at the whole balance sheet, not just one side of it.


Just sayin'



Leave up to the counselor to split hairs on grammar.

Brick wall

Perhaps I should have said, "My family's share of he national debt is..."

Think

Good Evening, Robert. Hope your Christmas was merry.

Beer
rfenst Offline
#8 Posted: Fri, Dec 28 2012, 1:41 AM EST
Joined: 06-23-2007
Posts: 39,473
Abrignac wrote:
Leave up to the counselor to split hairs on grammar.

Brick wall

Perhaps I should have said, "My family's share of he national debt is..."

Think

Good Evening, Robert. Hope your Christmas was merry.

Beer


Huh? Splitting gramar?
Just adding to the discussion here. It's just that time of year where balance sheets are on my mind. LOL
tyyler82 Offline
#9 Posted: Fri, Dec 28 2012, 1:43 AM EST
Joined: 09-21-2012
Posts: 2,816
Brick wall I hate it when I find myself in the "Politics" forum.Not talking
HockeyDad Offline
#10 Posted: Fri, Dec 28 2012, 8:26 AM EST
Joined: 09-20-2000
Posts: 46,213
rfenst wrote:
What about assets that off-set the debt (if any)?

You know, like you own a brand new house worth $100k and owe on a brand new $100k mortgage that you are paying down... or a $200k mortgage on the $100k house... or a $50k mortgage....

Got to look at the whole balance sheet, not just one side of it.


Just sayin'



Are you saying we should sell off his house to pay his fair share of the debt or the Federal government should sell off land, buildings, and military equipment to pay down the national debt?
rfenst Offline
#11 Posted: Fri, Dec 28 2012, 8:49 AM EST
Joined: 06-23-2007
Posts: 39,473
HockeyDad wrote:
Are you saying we should sell off his house to pay his fair share of the debt or the Federal government should sell off land, buildings, and military equipment to pay down the national debt?


Only if the buyer is China.
Brewha Offline
#12 Posted: Fri, Dec 28 2012, 4:32 PM EST
Joined: 01-25-2010
Posts: 12,207
rfenst wrote:
Only if the buyer is China.

We didn't even take out the china this year. Went to see the kid instead.

So, where is this guys house and what is the asking price? My wife wants us to retire in a blue state.
Abrignac Offline
#13 Posted: Fri, Dec 28 2012, 5:38 PM EST
Joined: 02-24-2012
Posts: 17,391
Brewha wrote:
We didn't even take out the china this year. Went to see the kid instead.

So, where is this guys house and what is the asking price? My wife wants us to retire in a blue state.


Then forget about my house
deadeyedick Offline
#14 Posted: Fri, Dec 28 2012, 7:02 PM EST
Joined: 03-13-2003
Posts: 17,177
Abrignac wrote:
Geithner: Debt Limit of $16.39 Trillion Will Be Met New Year's Eve

Considering there are ~ 311 Million people in the US my family of 4 owes $210,000 towards the current national debt. Seeing that I don't recall signing any promissory notes, I have a few questions regarding my debt.

Does this include any IOU's to Social Security, or should I add a few bucks each month to cover this as well?
Of the 311,000,000; how many of those are non-taxpayers, I'd like to know what factor to use when multiplying to determine our TRUE share?


No, you need to add quite a bit more. The unfunded liabilities are closer to $90 trillion counting SS, Medicare, Medicade and the interest on the debts.

DED
ZRX1200 Offline
#15 Posted: Fri, Dec 28 2012, 7:10 PM EST
Joined: 07-08-2007
Posts: 60,682
^ yup
Brewha Offline
#16 Posted: Fri, Dec 28 2012, 8:34 PM EST
Joined: 01-25-2010
Posts: 12,207
Abrignac wrote:
Then forget about my house

Bummer. Guess you want to move too . . . .
Abrignac Offline
#17 Posted: Fri, Dec 28 2012, 9:41 PM EST
Joined: 02-24-2012
Posts: 17,391
Brewha wrote:
Bummer. Guess you want to move too . . . .


Nah, Brewha I'm fine where I am. Have lived in Boston, Ma; Arlington, Va; Fredericksburg, Va; Elizabeth City, NC and New Orleans. Moved away from my home town at least 4 times and kept coming back.

But, I'll still consider selling you my house. Wouldn't mind moving a little farther away from town. Thing is its in a red state. People are friendly though.
Brewha Offline
#18 Posted: Sat, Dec 29 2012, 1:28 PM EST
Joined: 01-25-2010
Posts: 12,207
Abrignac wrote:
Nah, Brewha I'm fine where I am. Have lived in Boston, Ma; Arlington, Va; Fredericksburg, Va; Elizabeth City, NC and New Orleans. Moved away from my home town at least 4 times and kept coming back.

But, I'll still consider selling you my house. Wouldn't mind moving a little farther away from town. Thing is its in a red state. People are friendly though.

Thanks Bro. I was born in Jersey, but a s a young man I wanted to get away from the city - so I moved to Texas. I don't mind it being red (and Texas is pretty red) but it bothers the wife.

What state are you in?
Abrignac Offline
#19 Posted: Sat, Dec 29 2012, 1:47 PM EST
Joined: 02-24-2012
Posts: 17,391
Next door in Louisiana just et of Baton Rouge.
Brewha Offline
#20 Posted: Sat, Dec 29 2012, 2:06 PM EST
Joined: 01-25-2010
Posts: 12,207
Abrignac wrote:
Next door in Louisiana just et of Baton Rouge.

Nice.

You will be glad to know that we help your states economy by the donations we make in Shreveport.
Abrignac Offline
#21 Posted: Sat, Dec 29 2012, 6:38 PM EST
Joined: 02-24-2012
Posts: 17,391
Brewha wrote:
Nice.

You will be glad to know that we help your states economy by the donations we make in Shreveport.


Thanks for your kindness. Near Dallas?
Brewha Offline
#22 Posted: Sat, Dec 29 2012, 7:05 PM EST
Joined: 01-25-2010
Posts: 12,207
Abrignac wrote:
Thanks for your kindness. Near Dallas?

Pretty much. Highland Village, next to lake Lewisville. Down down Dallas is due south for about 30 minutes.

As to the kindness, the pleasure is ours . . . .
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