30 Yr Treasury Yields at 19 Yr High

[Lipdrag]

The Laffer Curve and marginal tax rates are immaterial to the issue of the national debt.  You guys are arguing about the number of angels that can dance on pinheads and missing the whole point.  Whether we hit $40 trillion in 2 weeks or 2 months or 2 years does not matter.  The inevitability of it is the issue.  Until there is an overwhelming unacceptable political penalty to pay for not passing a balanced budget then there will not be a sustained, repeatable, responsible, balanced budget.  All else is rubbish.  Period.  Full Stop.

No matter how much revenue comes in the spending will exceed it.  We can kill all the billionaires (and the 1 trillionaire) and steal all of their property (which, of course, includes money) and it will not wiggle the needle because it is immaterial to the issue.  Spending will exceed revenue forever until overwhelming unacceptable political penalties are applied to those responsible for the budgets.

[ionel]

27 minutes ago, Lipdrag said:

You guys are arguing about the number of prokaryotes that can dance on pinheads and missing the whole point.  

ftfy

29 minutes ago, Lipdrag said:

  We can kill all the billionaires (and the 1 trillionaire) and steal all of their property (which, of course, includes money) and it will not wiggle the needle because it is immaterial to the issue.  

Well sure we all know that but it would be fun to kill them because they have too much money and money is evil and we want their money thus they must die.  

[Lipdrag]

1 hour ago, ionel said:

1 hour ago, Lipdrag said:

You guys are arguing about the number of prokaryotes that can dance on pinheads and missing the whole point.  

ftfy

D'oh!  You're right.  That is very much an improvement.  I wish I had thought of it..   Thank you .

[red viking]

New high today. 5.30%. WOW!!!!!

[red viking]

Crazy. Skyrocketing. 5.38% today. WOW!! Looks like people are FINALLY coming to grips with the reality that our politicians, especially the current ones (mostly GOP) have zero interest in even decreasing the runaway deficit one but. 

There are consequences when you keep cutting taxes without any cuts whatsoever (actually increasing them, particularly the fat bloated pig military) to the programs that are actually a meaningful chunk of overall spending. 

Edited September 15 by red viking

[Lipdrag]

2 hours ago, red viking said:

particularly the fat bloated pig military

The military is using the lowest amount of national product in at least half a century.  Still more than the NATO freeloaders but quite low by the standards of recent history.

We are at 3.1% of GDP and 13.1% of federal budget.  Historically those numbers average nearly double those percentages.

I know it is unseemly to bring facts to what is an emotional narrative driven rant but I just couldn't help it.

Edited September 15 by Lipdrag

[red viking]

36 minutes ago, Lipdrag said:

The military is using the lowest amount of national product in at least half a century.  Still more than the NATO freeloaders but quite low by the standards of recent history.

We are at 3.1% of GDP and 13.1% of federal budget.  Historically those numbers average nearly double those percentages.

I know it is unseemly to bring facts to what is an emotional narrative driven rant but I just couldn't help it.

Bad comparison. Its not the cold war era. 

Why do we have to spend a higher % than all those other countries when we have zero neighbors that are a threat? 

Edited September 15 by red viking