This is what repaying the US debt will cost

[Paul Markham]

This applies to the UK, but it's interesting reading. http://news.sky.com/home/business/article/16041913

Britain's economic recovery will be "bumpy and uneven" and families will be £1,500 ($2400) worse off over the next five years - but the Government is on the right track.

That is the view of the International Monetary Fund (IMF) in its latest health check on the state of the UK economy.

It backed Chancellor George Osborne's spending cuts and tax increases to reduce the deficit despite households having an estimated £35bn less to spend.

This will follow 10% being wiped off the "tangible value" of property by 2016.

And all they want to cut is £35bn ($56bn) now think in terms of a trillion dollars. No need for a calculator, it's 28.571428 times larger. $68,568.

If you think the poor, old, infirm, etc can repay that. You're fooling yourself.

And the effect will roll down to everyone. Even people here.

[Paul Markham]

Bump for reaction.

[CyberHustler]

Mind your business...

[96ukssob]

Originally Posted by Paul Markham

Bump for reaction.

yeah im fucking pissed

this is how I see it. some fucking retard who got a job because of a connection, but is really borderline retarded now runs a dump truck delivery company.

driving down my street, one of his even more retarded co-workers is drunk and passes out and smashes into my car and my house. because this guy who owns the company also owns the company that I work for, he takes out money from my check each month to pay for the repairs for his truck, plus time off, plus means, plus supplies... and he doesn't shop at walmart, he calls the local mom and pop store and says "take your $5 hammer and make it cost $300 and I will buy 5."

now, not only am I out more money, but now I have to clean up the mess this dickhead left behind by smashing into my house and car AND I now have to pay the salary of some asshat who is he now hired to be an administrator because he deemed it necessary.

thats what i have to say

[Paul Markham]

Originally Posted by Dedi

Mind your business...

It is my business. If you think the repercussions will be only in the US then stay out of financial threads.

The effects will be felt world wide.

[halfpint]

Do you know what really fucks me off about that report ..this "On top of all this higher rate taxpayers will stop receiving child benefit from 2013"

I work my fucking ass off to have some lazy fucks who wont get off thier fat lazy arses and find work useing my tax contributions to help feed their children. If lazy parents cant be bothered to work then take their children away and let the lazy ass parents fucking rot in a smelly pit hole because that is where they belong ..fuck them

I dont mind helping out parents who do work with lower incomes but its the lazy fuckers who live off our taxes and our shitty system ..fuck them all

[KillerK]

Originally Posted by halfpint

Do you know what really fucks me off about that report ..this "On top of all this higher rate taxpayers will stop receiving child benefit from 2013"

I work my fucking ass off to have some lazy fucks who wont get off thier fat lazy arses and find work useing my tax contributions to help feed their children. If lazy parents cant be bothered to work then take their children away and let the lazy ass parents fucking rot in a smelly pit hole because that is where they belong ..fuck them

I dont mind helping out parents who do work with lower incomes but its the lazy fuckers who live off our taxes and our shitty system ..fuck them all

Atleast you don't make too much money where you get no child credit. They reward the people who choose to do the least.

[ilnjscb]

lazy ass baby boomers, always wanting everything handed to them.

[dyna mo]

Originally Posted by Paul Markham

It is my business. If you think the repercussions will be only in the US then stay out of financial threads.

The effects will be felt world wide.

just like they were when america was booming. coat tails travel both ways.

the gravy train is over for your country.

[Paul Markham]

Originally Posted by halfpint

Do you know what really fucks me off about that report ..this "On top of all this higher rate taxpayers will stop receiving child benefit from 2013"

I work my fucking ass off to have some lazy fucks who wont get off thier fat lazy arses and find work useing my tax contributions to help feed their children. If lazy parents cant be bothered to work then take their children away and let the lazy ass parents fucking rot in a smelly pit hole because that is where they belong ..fuck them

I dont mind helping out parents who do work with lower incomes but its the lazy fuckers who live off our taxes and our shitty system ..fuck them all

Everyone should work. Even the unemployed.

We're moving towards a time, or even there, when full employment is impossible. So giving people money not to work is counter productive. Make them help out in the local community, if they don't they don't get welfare. It gives them something to do, a sense of contributing and sets them up for when they might find work. Also weeds out a few in the black market.

just like they were when america was booming. coat tails travel both ways.

the gravy train is over for your country.

Did you read this thread?

It's about the UK and how repaying the debt will hurt. As the US imports so much, of course it will effect people everywhere.