wiegie Posted February 22, 2007 Share Posted February 22, 2007 (edited) Please keep in mind that when the federal deficit reaches -0-, what that means is that total public debt has stopped growing, and can remain the same. What is your share of total public debt in this country? Date 6/30/2006 Population 282,216,952 Total Debt 8,420,041,947,892 Individual 29,835 Family of Four 119,341 Date 6/30/2005 Population 285,226,284 Total Debt 7,836,495,788,085 Individual 27,475 Family of Four 109,899 Date 6/30/2004 Population 288,125,973 Total Debt 7,274,334,972,199 Individual 25,247 Family of Four 100,988 Date 6/30/2003 Population 290,796,023 Total Debt 6,670,121,155,027 Individual 22,937 Family of Four 91,750 Date 6/30/2002 Population 293,638,158 Total Debt 6,126,468,760,400 Individual 20,864 Family of Four 83,456 Date 6/30/2001 Population 296,507,061 Total Debt 5,726,814,835,287 Individual 19,314 Family of Four 77,257 Date 6/30/2000 Population 299,398,484 Total Debt 5,685,938,087,296 Individual 18,991 Family of Four 75,965 http://www.treasurydirect.gov/govt/reports...debt_histo4.htm http://www.census.gov/popest/estimates.php http://www.brillig.com/debt_clock/ This is an excellent a not so bad post. Edited February 22, 2007 by wiegie Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted February 22, 2007 Share Posted February 22, 2007 This is an excellent post. he didn't adjust for inflation Quote Link to comment Share on other sites More sharing options...
wiegie Posted February 22, 2007 Share Posted February 22, 2007 he didn't adjust for inflation Yep, my bad. It is not an excellent post (although I did like the way he included his references). Quote Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted February 22, 2007 Share Posted February 22, 2007 another notch for gw's belt he didn't adjust for inflation Yep, my bad. It is not an excellent post (although I did like the way he included his references). so what is the inflation rate from 2000 to 2006? Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted February 22, 2007 Share Posted February 22, 2007 I wonder where we'd be if we had that $500bn for Iraq back? (though we would certainly have had to spend part of it on different anti-terrorism measures, and rightly so). Quote Link to comment Share on other sites More sharing options...
Dr. Love Posted February 22, 2007 Share Posted February 22, 2007 well, yeah. that is also pretty much exactly what happened in the 90s when we attained a surplus. it is sustained economic growth that is the fundamental driver behind treasury revenues. This is exactly correct. Revenues temporarily outpaced spending then, and if we're lucky enough for it to happen again, it will not likely be for long. And you can forget about paying down the debt. Quote Link to comment Share on other sites More sharing options...
Jumpin Johnies Posted February 22, 2007 Share Posted February 22, 2007 well, yeah. that is also pretty much exactly what happened in the 90s when we attained a surplus. it is sustained economic growth that is the fundamental driver behind treasury revenues. Tax cuts facilitate growth. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted February 22, 2007 Share Posted February 22, 2007 Tax cuts facilitate growth. that's a real laffer Quote Link to comment Share on other sites More sharing options...
Jumpin Johnies Posted February 22, 2007 Share Posted February 22, 2007 that's a real laffer Quote Link to comment Share on other sites More sharing options...
wiegie Posted February 22, 2007 Share Posted February 22, 2007 I just recalculated rbc's numbers adjusting them for inflation (I will also point out that his calculation for 2006 was wrong since he used the wrong estimate for populationn for that year). Below is the inflation-adjusted average debt owed per 4-person family from 2000-2006**: 2006--96948.11 2005--94924.88 2004--91860.24 2003--87690.02 2002--82990.64 2001--79535.54 2000--80422.93 (**I deflated the figures using the BEA's "Table 1.1.9. Implicit Price Deflators for Gross Domestic Product".) Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted February 22, 2007 Share Posted February 22, 2007 (**I deflated the figures using the BEA's "Table 1.1.9. Implicit Price Deflators for Gross Domestic Product".) Whew. That's a relief. I was just going to ask that. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted February 23, 2007 Share Posted February 23, 2007 I just recalculated rbc's numbers adjusting them for inflation (I will also point out that his calculation for 2006 was wrong since he used the wrong estimate for populationn for that year). Below is the inflation-adjusted average debt owed per 4-person family from 2000-2006**: 2006--96948.11 2005--94924.88 2004--91860.24 2003--87690.02 2002--82990.64 2001--79535.54 2000--80422.93 (**I deflated the figures using the BEA's "Table 1.1.9. Implicit Price Deflators for Gross Domestic Product".) Cool. I'll paypal my amount to the White House before I go to bed tonight. It feels good to be debt free. Quote Link to comment Share on other sites More sharing options...
I Like Soup Posted February 23, 2007 Share Posted February 23, 2007 Yeah, getting the deficit is only the first step, in my opinion. That is fine and dandy, but we still have that rather large public debt hovering over us. Quote Link to comment Share on other sites More sharing options...
skins Posted February 23, 2007 Share Posted February 23, 2007 I just recalculated rbc's numbers adjusting them for inflation (I will also point out that his calculation for 2006 was wrong since he used the wrong estimate for populationn for that year). Below is the inflation-adjusted average debt owed per 4-person family from 2000-2006**: 2006--96948.11 2005--94924.88 2004--91860.24 2003--87690.02 2002--82990.64 2001--79535.54 2000--80422.93 (**I deflated the figures using the BEA's "Table 1.1.9. Implicit Price Deflators for Gross Domestic Product".) Thank you Republican Party. Quote Link to comment Share on other sites More sharing options...
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