[Rhodes22-list] Economics - More Good News

[Brad Haslett]

Rob,

And the bad news is - much of that debt is held by China.

The good news is - much of that debt is held by China.

This is like "mutually assured destruction" with the Soviets but with money
instead of nukes.  Speaking of bombs, if we could just stop the ticking on
the SS IED waiting down the road, I'd be happy.

Brad

PS - I'm going back to work this afternoon, I have my own deficit and debt
issues looming.

On 7/13/07, Rob Lowe <rlowe at vt.edu> wrote:
>
> Oh, I think Stan knows, but here goes anyway.
>
> The deficit is the yearly difference between spending and receipts.  The
> national debt is the sum of all the yearly deficits to date. The national
> debt is approaching $7 trillion (yep, with a T).  Just think, your
> personal
> share is only about $30K, just short of the price of a new Rhodes.
>
> http://www.brillig.com/debt_clock/
>
> - rob
>
>
> ----- Original Message -----
> From: "stan" <stan at rhodes22.com>
> To: "The Rhodes 22 mail list" <rhodes22-list at rhodes22.org>
> Sent: Friday, July 13, 2007 2:52 PM
> Subject: Re: [Rhodes22-list] Economics - More Good News
>
>
> > help:  what is the difference between our national debt and our national
> > deficit ?  And what are the comparison figures for the same years for
> the
> > national debt ?
> >
> > capitalistic minds need to know
> >
> > ss
> >
> > ----- Original Message -----
> > From: "Brad Haslett" <flybrad at gmail.com>
> > To: "The Rhodes 22 mail list" <rhodes22-list at rhodes22.org>
> > Sent: Friday, July 13, 2007 2:45 PM
> > Subject: [Rhodes22-list] Economics - More Good News
> >
> >
> > > Yesterdays record S & P was indeed good news!  Anyone look at the
> > > performance of their 401K lately?  No one needs to explain to me the
> > > fundamental weaknesses of the current economy, but by all conventional
> > > yardsticks, things look good.  If we had some fiscal discipline from
> the
> > > Congress and especially the White House, we could cut taxes again.
> Alas,
> > > that won't happen.  But the previous tax cuts and the robust economy
> that
> > > has resulted has made significant reductions in our debt load.
> > >
> > > Total US Deficit
> > >
> > > 2004 - $413 billion
> > > 2005 - $318 billion
> > > 2006 - $248 billion
> > > 2007 - $205 billion
> > >
> > >
> > > US Deficit as a percentage of GNP
> > >
> > > 2004 - 3.6%
> > > 2005 - 2.6%
> > > 2006 - 1.9%
> > > 2007 - 1.5%
> > >
> > > I just love good economic news!
> > >
> > > Brad
> > > __________________________________________________
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> >
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>
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