U.S. debt load falling at fastest pace since 1950s

Maybe it's time to get a little perspective....yes we spend too much....yes we hold too much debt....but it sure isn't Obama who put us there, and contrary to the bleatings of the right, he really has started digging us out.

http://www.marketwatch.com/story/us-deb ... 2012-06-08

As much as we hear politicians, pundits, tea-party patriots and the Congressional Budget Office obsessing about government debt, it was excessive private debt — not public debt — that caused the 2008 financial meltdown. And it was private debt — some of it since transferred to the public — that lies behind the current European debt crisis. (Greece is unique in having a public sector that ran up spending while its private sector is rather conservative.)

In the 11 quarters since the recession officially ended, total domestic debt has risen by just $702 billion, or 1.4%. By contrast, in the 11 quarters before the recession began, in those bubble years of 2005, 2006 and 2007, total debt increased by $10.7 trillion, or 28%.

In the 11 quarters since the recession officially ended, total domestic debt has risen by just $702 billion, or 1.4%. By contrast, in the 11 quarters before the recession began, in those bubble years of 2005, 2006 and 2007, total debt increased by $10.7 trillion, or 28%.

when people are not confident, they borrow less.

Since they're borrowing less, they're spending less.

I think you can see these facts fairly clearly here in Colorado.

I've seen big spending reductions in public organizations, private organizations, and individuals. The only place I've seen spending remain steady is the federal gubment.

Yes, and isn't it amazing--Corporate PROFITS are at the highest levels since the 1950's... Hmmmmm You don't suppose........?

When they are paying you 0.01% interest on your money, it only makes sense to pay down debt. Especially when future income streams are uncertain, like they are now.

And those excessive corporate profits? It might be nice for companies to be saving for a rainy day, especially if Europe does go tits up.

Nutting's claims about Obama's economic record have been proven false more than once.
Not a reliable or accurate source.

http://spectator.org/archives/2012/05/30/plenty-of-nutting

Like the Spectator is such an unbiased source.

lol

When they are paying you 0.01% interest on your money, it only makes sense to pay down debt.

Unless you're gubment.....

In which case - you borrow more.......

bailey bud wrote:

When they are paying you 0.01% interest on your money, it only makes sense to pay down debt.

Unless you're gubment.....

In which case - you borrow more.......

Only makes sense, the money is cheap, and you just rollover the debt, right. (But what happens when we get like Greece and the new debt costs us 10%.)

"The old saying is that “figures will not lie,” but a new saying is “liars will figure.” It is our duty, as practical statisticians, to prevent the liar from figuring; in other words, to prevent him from perverting the truth, in the interest of some theory he wishes to establish." - Carrol D Wright, 1889, excerpt from address given to the Convention of Commissioners of Bureaus of Statistics of Labor.

120 years later, here we are - unable to prevent liars from figuring in the interest of trying to convince the electorate to believe some cockamamie theory they wish to advance. Now that's "progress" . . . . .

You mean if the US Gubment keeps printing money and handing it out to businesses and individuals that qualify for the multitude of handouts or happen to be favored by the current president the economy won't get better?

That seems in direct conflict with the principals of Socialism, "From each according to his ability, to each according to his needs." All that needs to happen to correct the economy is to take from those who have more than they need and give it to those who don't have enough. Eliminate private industry, institutionalize medicine, ensure that everyone works for the Gubmnet and all wealth is collected and distributed by the Gubment. It's simple really...