Debt Saturation Chart of the Century

No one would likely disagree with your final sentence. But what do you propose to do about it?

My recommendation is that you go read the book, Deficit Hysteria, then come back so we can have a thoughtful discussion about the practical impacts of deficits.

Weren't you the same James that said social security was solvent and on solid financial footing? I've already read more than I care to on this subject and selective reading won't make the problem go away. Anytime one cares to have a thoughtful discussion, regardless of topic, I'm game. If you're looking for someone that is "hysterical", then I'm probably not your guy. If your position is that one can engage in frivolous spending without consequence, then this ought to be an entertaining discussion. To be perfectly honest, we're probably nearing the point where discussion is futile, since we are most likely at the point where we can all just sit back and enjoy the show that will play out before our very eyes. The "discussion" should have occurred decades ago, but everyone was too busy suckling on the pig. If you are in the camp that deficits don't matter, or that excessively high debt that can't be paid back is actually beneficial to us all, then I'd hate to see the family ledger. Debt is simply a threat to liberty, and this includes individual debt and government debt.

Neither the book, Deficit Hysteria nor a lambskin from Harvard can help the situation we're now in.

"Thus money creation at the saturation point stops adding to productive efforts and becomes a roll-over affair with only the financial services industry profiting via interest and fees. In other words, money goes out and circles right back around to the banks instead of rippling through a healthy non saturated economy. If you cannot follow that most simple logic, then going to Harvard will not help you."

The chart you've linked is worthless unless someone can reasonably explain all the assumptions and complex variable manipulations performed. Even then, I would be hard pressed to think the chart proved anything meaningful. Do I think excessive debt, and particularly debt held by another nation, is harmful? Yes. The rest of it, as presented, is smoke and mirrors...just some derivative ratio constructed from already complex calculations and assumptions.

Well, well, well. I certainly didn't intend to confuse our federal debt with money one borrows temporarily and plans on repaying in their lifetime. James nailed the difference when he posted, "Twenty years ago, I borrowed $1.5 million to keep one of my companies afloat, back in the day when banks were lending. I paid down that credit line over seven long years and have made that amount back many times over."

Here's the fundamental difference between the two types of debt. First of all, James' example would indeed be a good one if he had decided to "borrow 1.5 million", but then have his grandchildren, great grandchildren, great great grandchildren, etc. pay it back once they were all old enough to start working and producing. My question to James is this: Why didn't you simply pass along your debt to your children instead of working so hard for "over seven long years"?

From reading these posts, am I to assume that the majority opinion/position on this matter, is that our generation plans on retiring this debt that we are accumulating to support our cush lives free of consequence? And, if so, how do you see that happening?

I've previously submitted my ideas, as requested, with battling this insatiable appetite for consumption which Fox correctly labeled as uniquely "American". I'm certainly not going to attempt to convince anyone that my ideas would work or that they are finite or carved in stone, but I do believe in my heart of hearts that our American empire will end if we don't change our present course.

My guess is that James, Fox, and I have all passed our midway-point in our lives and fought the good fight to provide for our families and take care of friends and neighbors along the way. I also don't think that the quality of my family's life will significantly change much regardless of Republocrat occupying the Oval Office, Congress and the courts. My issue is simply viewing this monstrous out-of-control debt that I believe has finally reached the point, like so many families in America reach when everything is max'ed out and there isn't any relief or solution in sight, and what kind of burden have we passed along to our future generations. I have five boys; two out of the house and three still at home. What kind of America are we leaving them? Will they have the same opportunities that we all enjoyed? This isn't a Republican or Democratic, or Independent, or Green or Libertarian, etc. etc. issue. This is an American issue that must be addressed by sober minds without bitter partisanship.

I hope this explains my position. If there are some that don't think this is an issue, I'd be interested in knowing why it is not an issue for concern. The US unfunded liabilities are well past $108 trillion. Mathematically, this cannot continue without the country becoming insolvent and/or life savings be wiped away with a massive devaluation of our currency.