"Obamacare"

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

If interest rates on your credit card were close to 0%, would you try to pay it off all at once, or would you just make minimum payments until the day you died?  In the case of the United States, we're not going to die any time soon.

Except the minimum payment is hundreds of billions of dollars, the interest is actually not 0%, is variable and adjusts daily, is being artificially suppressed by a central bank, which is essentially acting as the last "balance transfer" option, the balance of the debt exceeds your annual income, and the consequences of default don't involve a chapter 7 filing.

So yeah, its basically a credit card.  Free money.


I nominate Beams the mayor of Face Palm City.

[yoga-like_abana]

facebook has been a real treat. love the dave ramsey because math video that everyone is re-posting

[OregonSmock]

If interest rates on your credit card were close to 0%, would you try to pay it off all at once, or would you just make minimum payments until the day you died?  In the case of the United States, we're not going to die any time soon.

Except the minimum payment is hundreds of billions of dollars, the interest is actually not 0%, is variable and adjusts daily, is being artificially suppressed by a central bank, which is essentially acting as the last "balance transfer" option, the balance of the debt exceeds your annual income, and the consequences of default don't involve a chapter 7 filing.

So yeah, its basically a credit card.  Free money.


I nominate Beams the mayor of Face Palm City.

You're the King of Strawmen Island, FSD.  I never said interest rates were 0% (just close to 0%).  I never said the debt was essentially "free money."  It's just not that big of a deal unless we get to a point where we can't make interest payments, which isn't going to happen any time soon. 

[michigancat]

facebook has been a real treat. love the dave ramsey because math video that everyone is re-posting

yes, was outstanding. his closing argument was "what if I made you buy a gun"? Also I was disappointed that there was no actual math done.

[john "teach me how to" dougie]

I think all anyone really needs to understand is that the Federal Gov't will collect more tax revenue than ever, and yet will fall short of paying it's bills this FY by around $800 to $900 billion dollars.

Isn't this talking point at least in some part due to having a larger working force than ever before as a result of an ever growing population? Not saying that the $.8T deficit is good by any means, but I think the 'most revenue' talking point is somewhere between misleading and dishonest.

There are 2 million fewer people working today than in 2008. The actual U6 unemployment is around 14%, which includes those that have used up their unemployment and still unemployed and not counted in the advertised unemployment rate.

[Rage Against the McKee]

I think all anyone really needs to understand is that the Federal Gov't will collect more tax revenue than ever, and yet will fall short of paying it's bills this FY by around $800 to $900 billion dollars.

Isn't this talking point at least in some part due to having a larger working force than ever before as a result of an ever growing population? Not saying that the $.8T deficit is good by any means, but I think the 'most revenue' talking point is somewhere between misleading and dishonest.

There are 2 million fewer people working today than in 2008.

I don't really believe that is true.

[theKSU]

The Dave Ramsey video is great because he implies that he's not going to be partisan, then he goes into the standard Tea Party screed against Obama and the gubmint taking all your monies to give to poor (fat) people.

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

If interest rates on your credit card were close to 0%, would you try to pay it off all at once, or would you just make minimum payments until the day you died?  In the case of the United States, we're not going to die any time soon.

Except the minimum payment is hundreds of billions of dollars, the interest is actually not 0%, is variable and adjusts daily, is being artificially suppressed by a central bank, which is essentially acting as the last "balance transfer" option, the balance of the debt exceeds your annual income, and the consequences of default don't involve a chapter 7 filing.

So yeah, its basically a credit card.  Free money.


I nominate Beams the mayor of Face Palm City.

You're the King of Strawmen Island, FSD.  I never said interest rates were 0% (just close to 0%).  I never said the debt was essentially "free money."  It's just not that big of a deal unless we get to a point where we can't make interest payments, which isn't going to happen any time soon.

If I'm the king of straw man island, then your the captain of the s.s. doesn't know what a straw man is.

Aye Aye Cap'n Butthurt Beams!  Your point about only needing enough revenue to cover interest is insanely Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!), matey.

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

I think all anyone really needs to understand is that the Federal Gov't will collect more tax revenue than ever, and yet will fall short of paying it's bills this FY by around $800 to $900 billion dollars.

Isn't this talking point at least in some part due to having a larger working force than ever before as a result of an ever growing population? Not saying that the $.8T deficit is good by any means, but I think the 'most revenue' talking point is somewhere between misleading and dishonest.

There are 2 million fewer people working today than in 2008.

I don't really believe that is true.

Its black and white on the BLS webpage, bruh

[OregonSmock]

How are your stocks doing since President Obama has been in office, FSD? 

[Dugout DickStone]

How are your stocks doing since President Obama has been in office, FSD?

Mine are doing rough ridin' fantastic.  i am really rich right now.

[john "teach me how to" dougie]

How are your stocks doing since President Obama has been in office, FSD?

As long as QE goes on, stocks will be fine and the rich get richer. 

My 401k is up 38% YTD.

[john "teach me how to" dougie]

I think all anyone really needs to understand is that the Federal Gov't will collect more tax revenue than ever, and yet will fall short of paying it's bills this FY by around $800 to $900 billion dollars.

Isn't this talking point at least in some part due to having a larger working force than ever before as a result of an ever growing population? Not saying that the $.8T deficit is good by any means, but I think the 'most revenue' talking point is somewhere between misleading and dishonest.

There are 2 million fewer people working today than in 2008.

I don't really believe that is true.

http://data.bls.gov/timeseries/LNS11300000

[Rage Against the McKee]

I think all anyone really needs to understand is that the Federal Gov't will collect more tax revenue than ever, and yet will fall short of paying it's bills this FY by around $800 to $900 billion dollars.

Isn't this talking point at least in some part due to having a larger working force than ever before as a result of an ever growing population? Not saying that the $.8T deficit is good by any means, but I think the 'most revenue' talking point is somewhere between misleading and dishonest.

There are 2 million fewer people working today than in 2008.

I don't really believe that is true.

http://data.bls.gov/timeseries/LNS11300000

That shows a drop in the participation rate of about 2.5% since 2008. The population of the US has increased by a little more than 4% since then, so I interpret that data to show that there are actually more people working now than in 2008.

[john "teach me how to" dougie]

I think all anyone really needs to understand is that the Federal Gov't will collect more tax revenue than ever, and yet will fall short of paying it's bills this FY by around $800 to $900 billion dollars.

Isn't this talking point at least in some part due to having a larger working force than ever before as a result of an ever growing population? Not saying that the $.8T deficit is good by any means, but I think the 'most revenue' talking point is somewhere between misleading and dishonest.

There are 2 million fewer people working today than in 2008.

I don't really believe that is true.

http://data.bls.gov/timeseries/LNS11300000

That shows a drop in the participation rate of about 2.5% since 2008. The population of the US has increased by a little more than 4% since then, so I interpret that data to show that there are actually more people working now than in 2008.

Aug 2008 total labor force = 154,469,000 x 6.1% unemployment = 146,046,000 working

Aug 2013 total labor force = 155,486,000 x 7.3% unemployment = 144,135,000 working

1,911,000 fewer working.

http://data.bls.gov/timeseries/LNS14000000
http://data.bls.gov/cgi-bin/surveymost
http://data.bls.gov/timeseries/LNS11300000

[p1k3]

Liberals hate the participation rate stat.

[john "teach me how to" dougie]

Liberals hate the participation rate stat.

It really effs up the unemployment rate.

[sys]

I watched it, sys. I thought it might have been overly simplified, but then again, the economy really is much simpler than most of us try to make it. It was a fun watch.

thanks, that makes me really happy.

I watched it, too. It's crazy how you never hear anyone talk about long-term debt cycles that way.

i thought the idea that inflation is dependent on spending, not monetary supply was interesting.  i also really liked seeing a billionaire, 'pub donor explain that (part of) the best way to ameliorate the current crisis is to tax the rich, and (re)distribute the wealth to the poor.

[sys]

My 401k is up 38% YTD.

damn!  company stock?  what all are you allowed to invest in your 401k?

[john "teach me how to" dougie]

My 401k is up 38% YTD.

damn!  company stock?  what all are you allowed to invest in your 401k?

I stupidly have everything in the T Rowe Price health sciences fund right now. I need to spread it out but I just can't bring myself to do it right now.

[sys]

My 401k is up 38% YTD.

damn!  company stock?  what all are you allowed to invest in your 401k?

I stupidly have everything in the T Rowe Price health sciences fund right now. I need to spread it out but I just can't bring myself to do it right now.

doesn't sound stupid at all.  but sell the news, friend.

[john "teach me how to" dougie]

My 401k is up 38% YTD.

damn!  company stock?  what all are you allowed to invest in your 401k?

I stupidly have everything in the T Rowe Price health sciences fund right now. I need to spread it out but I just can't bring myself to do it right now.

doesn't sound stupid at all.  but sell the news, friend.

It just makes me a little nervous having all of my eggs in one basket, so to speak, but I'm addicted to the ROR.

[sys]

It just makes me a little nervous having all of my eggs in one basket, so to speak, but I'm addicted to the ROR.

if you're not nervous making 38%/year, you're not paying attention.

[kim carnes]

It just makes me a little nervous having all of my eggs in one basket, so to speak, but I'm addicted to the ROR.

if you're not nervous making 38%/year, you're not paying attention.

put your money into FBIOX, XBI, or BBH.  you're a little late to the party though.

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

It just makes me a little nervous having all of my eggs in one basket, so to speak, but I'm addicted to the ROR.

if you're not nervous making 38%/year, you're not paying attention.

put your money into FBIOX, XBI, or BBH.  you're a little late to the party though.

Commercial RE tho