I'm sorry...we actually have a $56 TRILLION dollar DEBT. Not $10 trillion.

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Dreams-Visions

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#1 Dreams-Visions
Member since 2006 • 26578 Posts

Interview: Fmr. Comptroller General David Walker speaks

"We have over 40 trillion dollars in debt that is off the books IN ADDITION to the 10 trillion we saw on the debt clock. This country is in a $55 trillion dollar hole...$480,000 per household."

Just wow.

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tman93

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#2 tman93
Member since 2006 • 7769 Posts

*Waits for democrats to come in and say its republicans fault*

*Waits for republicans to come in and say its democrats fault*

This should be fun to watch, or sad.... depending whos online.

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bsman00

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#3 bsman00
Member since 2008 • 6038 Posts
debt? we came up with the system... who do we own 56 trillion dollars to??
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FragStains

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#4 FragStains
Member since 2003 • 20668 Posts

*Waits for democrats to come in and say its republicans fault*

*Waits for republicans to come in and say its democrats fault*

This should be fun to watch, or sad.... depending whos online.

tman93
It's inevitable. That is what makes it so delicious.
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AlphaRail

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#5 AlphaRail
Member since 2007 • 1789 Posts

*Waits for democrats to come in and say its republicans fault*

*Waits for republicans to come in and say its democrats fault*

This should be fun to watch, or sad.... depending whos online.

tman93

What??? It is the independents fault, we all know that they are trying to always cause trouble...wasting votes when it is always a republican or democrat, when will they learn jeez

:P

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Munkyman587

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#6 Munkyman587
Member since 2003 • 2007 Posts
Welcome to basic economics 101, why don't you take a seat over there on the right and try reading the book.
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Dreams-Visions

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#7 Dreams-Visions
Member since 2006 • 26578 Posts
debt? we came up with the system... who do we own 56 trillion dollars to??bsman00
lol. everyone, it seems.
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Munkyman587

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#8 Munkyman587
Member since 2003 • 2007 Posts
Welcome to basic economics 101, why don't you take a seat over there on the right and try reading the book.
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Dreams-Visions

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#9 Dreams-Visions
Member since 2006 • 26578 Posts
Welcome to basic economics 101, why don't you take a seat over there on the right and try reading the book.Munkyman587
Basic economics it is not. try again, Star Ship Enterprise. lol
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marcus4hire

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#10 marcus4hire
Member since 2003 • 2684 Posts
Your apology is accepted.
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Led_poison

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#11 Led_poison
Member since 2004 • 10146 Posts
its like that Simpsons episode where Lisa is the president.
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Nills

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#12 Nills
Member since 2005 • 1573 Posts
Only 56 trillion? Just let me check my wallet...
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esb1118

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#13 esb1118
Member since 2007 • 2661 Posts
Well aren't we in a pickle.
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hoola

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#14 hoola
Member since 2004 • 6422 Posts

Small government is the only way to stop it...i have heard it is nearly 100 trillion depending on what you consider debt.

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ferrari2001

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#15 ferrari2001
Member since 2008 • 17772 Posts
56 trillion really? Cause I see about 10 trillion? I highly doubt we are 50 trillion in debt even off the books. Plus imagine all the money other countries owe us,.
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Oleg_Huzwog

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#16 Oleg_Huzwog
Member since 2007 • 21885 Posts

I have a friend from Canada who owes me $30. Does that help?

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Darthmatt

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#17 Darthmatt
Member since 2002 • 8970 Posts
Good thing we've been speding that money to fight Bin Laden in Iraq.
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Video_Game_King

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#18 Video_Game_King
Member since 2003 • 27545 Posts

its like that Simpsons episode where Lisa is the president.Led_poison

Only China was never cool.

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Dr_Corndog

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#19 Dr_Corndog
Member since 2004 • 3245 Posts

*Waits for democrats to come in and say its republicans fault*

*Waits for republicans to come in and say its democrats fault*

This should be fun to watch, or sad.... depending whos online.

tman93

It's both their faults.

Republicans blame the Democrats, Democrats blame the Republicans, and supporters of both parties are too busy arguing with each other to realize that both parties are to blame.

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tman93

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#20 tman93
Member since 2006 • 7769 Posts
[QUOTE="tman93"]

*Waits for democrats to come in and say its republicans fault*

*Waits for republicans to come in and say its democrats fault*

This should be fun to watch, or sad.... depending whos online.

Dr_Corndog

It's both their faults.

Republicans blame the Democrats, Democrats blame the Republicans, and supporters of both parties are too busy arguing with each other to realize that both parties are to blame.

Exactly.
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limpbizkit818

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#21 limpbizkit818
Member since 2004 • 15044 Posts

I have a friend from Canada who owes me $30. Does that help?

Oleg_Huzwog

Yes, it helps destory our country :evil:

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hellraiser_07

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#22 hellraiser_07
Member since 2006 • 2171 Posts
The US should start another war, it seem to help you whenever you're short in cash .
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Dreams-Visions

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#23 Dreams-Visions
Member since 2006 • 26578 Posts

56 trillion really? Cause I see about 10 trillion? I highly doubt we are 50 trillion in debt even off the books. Plus imagine all the money other countries owe us,.ferrari2001
$10 trillion is actually the amount of notes that we have outstanding. The $56 trillion number includes unfunded liabilities, such as how much we actually owe in social security.

And really, why would you suppose your doubt supercedes the factual opinion of the former US comptroller? :|

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King_Stones

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#24 King_Stones
Member since 2008 • 456 Posts
This debt is a farce. It doesn't really exist. It's made up to scare people.
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Superbored

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#25 Superbored
Member since 2008 • 1187 Posts

[QUOTE="ferrari2001"]56 trillion really? Cause I see about 10 trillion? I highly doubt we are 50 trillion in debt even off the books. Plus imagine all the money other countries owe us,.Dreams-Visions

$10 trillion is actually the amount of notes that we have outstanding. The $56 trillion number includes unfunded liabilities, such as how much we actually owe in social security.

And really, why would you suppose your doubt supercedes the factual opinion of the former US comptroller? :|

:lol: Thats a funny name.

Comptroller?

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King_Stones

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#26 King_Stones
Member since 2008 • 456 Posts

And really, why would you suppose your doubt supercedes the factual opinion of the former US comptroller? :|

Dreams-Visions

What's a "factual opinion"? :?

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cool_baller

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#27 cool_baller
Member since 2003 • 12493 Posts
The government owes that money to banks in the United States. We never ever ever never loan money from other countries. Don't let anyone tell you different.
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Dreams-Visions

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#28 Dreams-Visions
Member since 2006 • 26578 Posts
[QUOTE="Dreams-Visions"]

And really, why would you suppose your doubt supercedes the factual opinion of the former US comptroller? :|

King_Stones

What's a "factual opinion"? :?

an opinion on a matter, based on an interpretation of certain related facts.

The government owes that money to banks in the United States. We never ever ever never loan money from other countries. Don't let anyone tell you different.cool_baller
que?
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Dreams-Visions

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#29 Dreams-Visions
Member since 2006 • 26578 Posts
[QUOTE="Dreams-Visions"]

[QUOTE="ferrari2001"]56 trillion really? Cause I see about 10 trillion? I highly doubt we are 50 trillion in debt even off the books. Plus imagine all the money other countries owe us,.Superbored

$10 trillion is actually the amount of notes that we have outstanding. The $56 trillion number includes unfunded liabilities, such as how much we actually owe in social security.

And really, why would you suppose your doubt supercedes the factual opinion of the former US comptroller? :|

:lol: Thats a funny name.

Comptroller?

Yea man. Comptroller.

The Comptroller General of the United States is the director of the Government Accountability Office (GAO, formerly known as the General Accounting Office), a legislative branch agency founded by Congress in 1921 to ensure the fiscal and managerial accountability of the federal government.

respect him.

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Oleg_Huzwog

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#30 Oleg_Huzwog
Member since 2007 • 21885 Posts
[QUOTE="Oleg_Huzwog"]

I have a friend from Canada who owes me $30. Does that help?

limpbizkit818

Yes, it helps destory our country :evil:

Oops! I didn't mean to destroy any countries. Should I pester him to pay me back?

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King_Stones

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#31 King_Stones
Member since 2008 • 456 Posts
[QUOTE="King_Stones"][QUOTE="Dreams-Visions"]

And really, why would you suppose your doubt supercedes the factual opinion of the former US comptroller? :|

Dreams-Visions

What's a "factual opinion"? :?

an opinion on a matter, based on related facts.

If it's based on facts, then it wouldn't be an opinion. :?

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Superbored

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#32 Superbored
Member since 2008 • 1187 Posts

[QUOTE=""]The Comptroller General of the United States is the director of the Government Accountability Office (GAO, formerly known as the General Accounting Office), a legislative branch agency founded by Congress in 1921 to ensure the fiscal and managerial accountability of the federal government.Dreams-Visions

respect him.

Seems like he has little power to actually balance anything really.

Government spending is out of control.

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Dreams-Visions

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#33 Dreams-Visions
Member since 2006 • 26578 Posts
[QUOTE="Dreams-Visions"][QUOTE="King_Stones"][QUOTE="Dreams-Visions"]

And really, why would you suppose your doubt supercedes the factual opinion of the former US comptroller? :|

King_Stones

What's a "factual opinion"? :?

an opinion on a matter, based on related facts.

If it's based on facts, then it wouldn't be an opinion. :?

not correct. someting "factual" is something based on facts. it's not the facts themselves. it's an interpretation of said facts, constituting an opportunity for opinion.

an analysis of election polling data would be a 'factual opinion', for example.

http://dictionary.reference.com/browse/factual enjoy. and get back on topic.

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Dreams-Visions

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#34 Dreams-Visions
Member since 2006 • 26578 Posts
[QUOTE="Dreams-Visions"]

[QUOTE=""]The Comptroller General of the United States is the director of the Government Accountability Office (GAO, formerly known as the General Accounting Office), a legislative branch agency founded by Congress in 1921 to ensure the fiscal and managerial accountability of the federal government.Superbored

respect him.

Seems like he has little power to actually balance anything really.

Government spending is out of control.

no single person has all the power in our government, fortunately. but if someone in HIS position says "we acutally have a $56 trillion dollar deficit...", he's probably right, as he is essentially the head of our nation's accounting team.
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markop2003

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#35 markop2003
Member since 2005 • 29917 Posts
i think that'll be including complete national debt including companies and personal loans, from what i heard that 10tril is just what the american goverment owes to china
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King_Stones

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#36 King_Stones
Member since 2008 • 456 Posts
[QUOTE="King_Stones"][QUOTE="Dreams-Visions"][QUOTE="King_Stones"][QUOTE="Dreams-Visions"]

And really, why would you suppose your doubt supercedes the factual opinion of the former US comptroller? :|

Dreams-Visions

What's a "factual opinion"? :?

an opinion on a matter, based on related facts.

If it's based on facts, then it wouldn't be an opinion. :?

not correct. someting "factual" is something based on facts. it's not the facts themselves. it's an interpretation of said facts, constituting an opinion.

http://dictionary.reference.com/browse/factual enjoy. and get back on topic.

Factual is based on facts, yes I know. But if someone is speaking on a subject that has factual basis, it's not an opinion. The speaker would simply be reiterating the truth to others.

For example, when I say the sun is hot, it's not an opinion. I'm stating a fact, based on facts, and notifying others of that fact. No opinions there.

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Dreams-Visions

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#37 Dreams-Visions
Member since 2006 • 26578 Posts
i think that'll be including complete national debt including companies and personal loans, from what i heard that 10tril is just what the american goverment owes to chinamarkop2003
$10 trillion is actually the amount of notes that we have outstanding. The $56 trillion number includes unfunded liabilities, such as how much we actually owe in social security.
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Dreams-Visions

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#38 Dreams-Visions
Member since 2006 • 26578 Posts
[QUOTE="Dreams-Visions"][QUOTE="King_Stones"][QUOTE="Dreams-Visions"][QUOTE="King_Stones"][QUOTE="Dreams-Visions"]

And really, why would you suppose your doubt supercedes the factual opinion of the former US comptroller? :|

King_Stones

What's a "factual opinion"? :?

an opinion on a matter, based on related facts.

If it's based on facts, then it wouldn't be an opinion. :?

not correct. someting "factual" is something based on facts. it's not the facts themselves. it's an interpretation of said facts, constituting an opinion.

http://dictionary.reference.com/browse/factual enjoy. and get back on topic.

Factual is based on facts, yes I know. But if someone is speaking on a subject that has factual basis, it's not an opinion. The speaker would simply be reiterating the truth to others.

For example, when I say the sun is hot, it's not an opinion. I'm stating a fact, based on facts, and notifying others of that fact. No opinions there.

you can a forge an opinion based on factual information. for example, it's a fact that the xbox 360 has outsold the playstation 3 5 consecutive weeks in Japan. that's the fact. but if I say, "the Xbox 360 is now more popular in Japan than the Playstation 3", what you have is a factual opinion. it may or may not be exactly right, but it's an inpretation of said sales data. something based on facts, but is still opinion. we're wasting time here. this is my last post on this very tangential subject in my thread. i'm headed to the gym now anyway.
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King_Stones

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#39 King_Stones
Member since 2008 • 456 Posts
[QUOTE="King_Stones"]

Factual is based on facts, yes I know. But if someone is speaking on a subject that has factual basis, it's not an opinion. The speaker would simply be reiterating the truth to others.

For example, when I say the sun is hot, it's not an opinion. I'm stating a fact, based on facts, and notifying others of that fact. No opinions there.

Dreams-Visions

you can a forge an opinion based on factual information. for example, it's a fact that the xbox 360 has outsold the playstation 3 5 consecutive weeks in Japan. that's the fact. but if I say, "the Xbox 360 is now more popular in Japan than the Playstation 3", what you have is a factual opinion. it may or may not be exactly right, but it's an inpretation of said sales data. something based on facts, but is still opinion. we're wasting time here. this is my last post on this very tangential subject in my thread. i'm headed to the gym now anyway.

See what I highlighted. You said what we have here is a factual opinion. Key word, "factual". Then you immediately say, "it may or may not be exactly right". Well then, it's not a fact. You shouldn't be applying the word "factual" to something that may or may not be right. Make sense yet? :?

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Dreams-Visions

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#40 Dreams-Visions
Member since 2006 • 26578 Posts
[QUOTE="Dreams-Visions"][QUOTE="King_Stones"]

Factual is based on facts, yes I know. But if someone is speaking on a subject that has factual basis, it's not an opinion. The speaker would simply be reiterating the truth to others.

For example, when I say the sun is hot, it's not an opinion. I'm stating a fact, based on facts, and notifying others of that fact. No opinions there.

King_Stones

you can a forge an opinion based on factual information. for example, it's a fact that the xbox 360 has outsold the playstation 3 5 consecutive weeks in Japan. that's the fact. but if I say, "the Xbox 360 is now more popular in Japan than the Playstation 3", what you have is a factual opinion. it may or may not be exactly right, but it's an inpretation of said sales data. something based on facts, but is still opinion. we're wasting time here. this is my last post on this very tangential subject in my thread. i'm headed to the gym now anyway.

See what I highlighted. You said what we have here is a factual opinion. Key word, "factual". Then you immediately say, "it may or may not be exactly right". Well then, it's not a fact. You shouldn't be applying the word "factual" to something that may or may not be right. Make sense yet? :?

you're applying the opinion to the wrong thing. did you read the part that WASN'T underlined? it's not the FACTS that are in question. it's the INTERPRETATION of the facts that is in question.

again, my very last post on this. you can PM me if you want to discuss it further.

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King_Stones

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#41 King_Stones
Member since 2008 • 456 Posts

again, my very last post on this. you can PM me if you want to discuss it further. Dreams-Visions

:roll: No need for that. You'll just fight with me to the death on this stretch of an interperetation you've got. I was only saying that you should leave the word factual off the phrase, "factual opinion". Just say, "opinion." That's it. That would be correct. I'm only trying to help you. But forget it, you don't need to reply to me, I'll let it go this time. Peace out. Enjoy your work out.

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achilles614

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#42 achilles614
Member since 2005 • 5310 Posts

[QUOTE="Dreams-Visions"]again, my very last post on this. you can PM me if you want to discuss it further. King_Stones

:roll: No need for that. You'll just fight with me to the death on this stretch of an interperetation you've got. I was only saying that you should leave the word factual off the phrase, "factual opinion". Just say, "opinion." That's it. That would be correct. I'm only trying to help you. But forget it, you don't need to reply to me, I'll let it go this time. Peace out. Enjoy your work out.

Dude just let it go...you're both wrong.
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King_Stones

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#43 King_Stones
Member since 2008 • 456 Posts
[QUOTE="King_Stones"]

[QUOTE="Dreams-Visions"]again, my very last post on this. you can PM me if you want to discuss it further. achilles614

:roll: No need for that. You'll just fight with me to the death on this stretch of an interperetation you've got. I was only saying that you should leave the word factual off the phrase, "factual opinion". Just say, "opinion." That's it. That would be correct. I'm only trying to help you. But forget it, you don't need to reply to me, I'll let it go this time. Peace out. Enjoy your work out.

Dude just let it go...you're both wrong.

I did let it go until you just brought it back up. :roll:

Now, instead of just saying we're wrong and standing there like a snob, how about you actually tell us why we're wrong. That might help, wiseguy.

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Leejjohno

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#44 Leejjohno
Member since 2005 • 13897 Posts
56 trillion really? Cause I see about 10 trillion? I highly doubt we are 50 trillion in debt even off the books. Plus imagine all the money other countries owe us,.ferrari2001
It doesn't matter what you are owed in this world, it's not in your posession until they give it back.
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achilles614

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#45 achilles614
Member since 2005 • 5310 Posts
[QUOTE="achilles614"][QUOTE="King_Stones"]

[QUOTE="Dreams-Visions"]again, my very last post on this. you can PM me if you want to discuss it further. King_Stones

:roll: No need for that. You'll just fight with me to the death on this stretch of an interperetation you've got. I was only saying that you should leave the word factual off the phrase, "factual opinion". Just say, "opinion." That's it. That would be correct. I'm only trying to help you. But forget it, you don't need to reply to me, I'll let it go this time. Peace out. Enjoy your work out.

Dude just let it go...you're both wrong.

I did let it go until you just brought it back up. :roll:

Now, instead of just saying we're wrong and standing there like a snob, how about you actually tell us why we're wrong. That might help, wiseguy.

You didn't say please.
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yabbicoke

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#46 yabbicoke
Member since 2007 • 4069 Posts
So? We've been in debt for a looooooooong time. Nothing new.
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King_Stones

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#47 King_Stones
Member since 2008 • 456 Posts
You didn't say please.achilles614

Ha. You just don't have an answer.

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cool_baller

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#48 cool_baller
Member since 2003 • 12493 Posts
[[QUOTE="cool_baller"]The government owes that money to banks in the United States. We never ever ever never loan money from other countries. Don't let anyone tell you different.Dreams-Visions
que?

It's true. We DO NOT OWE ANY MONEY TO CHINA! Some people are so confused/ignorant to economics. You learn this in a basic entry level economics class....It's like how people confuse the trade deficit with debt, it can actually show wealth. We import more than we export because we are fricking rich
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comp_atkins

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#49 comp_atkins
Member since 2005 • 38926 Posts

no one spends money like america....

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peaceful_anger

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#50 peaceful_anger
Member since 2007 • 2568 Posts
And both Presidential candidates are going to do nothing but add to it. How very sad.