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http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt.htm The link is above. Clinton's last budget only ran a deficit of ~ 18B, which is essentially balanced. One of his other budgets only ran a deficit of ~ 100B. This includes all intra-governmentals. Bush's last two budgets...

Yes, the dem congress is partly to blame. However, congress follows the lead of the president. One of Clinton's goals was to lower the deficit/balance the budget. One of GWB's stated goals was to cut taxes. Both were done by Congress.

Check treasurydirect. gov for the official deficits. Bush ran a >1T deficit his last year and passed that same bloated budget off to Obama for 2009. Obama reports the real deficit not just the "cash only" deficit the repubs report to make it look smaller.

When there is a democratic prez, everybody wants to cut spending and raise taxes. Then, when the repub president comes in, he says : look, we have a balanced budget/surplus so lets raise spending and cut taxes for the wealthy. The cycle then repeats. But, the debt is now so high from...

Good point. Also, I've seen that many of these new high tech devices use pal., which could cramp put an additional demand on supply. No recent updates on cold fusion, though.

good points. It just seems like politicians want the status quo to continue until the economy is already falling off the cliff. Then, all of a sudden, the real size of the problem is seen when the "rescuers" arrive to save the day. Greece (with the CDS to hide tons of debt) is a great example...

Why do you think it will go that high?

This has been repeated on ET before, but for those of you who haven't seen it, a state can't legally file bankruptcy because they can collect taxes. So, one of three things will happen: California will slash spending, and/or Ca. will raise taxes, and/or the federal gov't will start bailing out...

Rising interest rates will put an end to any Ponzi scheme pretty quickly. Greece today, any number of countries tomorrow.

This is a real affect. If gold is $1200 per ounce and it costs the miner $500 per ounce to mine it, they net $700 per ounce. If the mining cost stays the same and gold goes to $1500, a 25% increase, the net goes to $1000 about a 43% increase. This is closer to 2 to 1 but you get the idea.

Seems like many more people are finding out about PAL...

No, debt levels like this are not sustainable. It's only a matter of when the serious financial repercussions arise. We issued 333B of debt just last month, which is insanely high. I've said the same thing since my early posts on ET, so I won't say anymore.

This currency has done absolutely nothing for the past 5 hours. Hopefully this is just consolidation before a big move...

Easy question. Answer - Cut taxes and raise spending and blame it on the Communists and/or terrorists.

Do you seriously think that people living paycheck to paycheck and barely making it with sales taxes around 8% would survive with taxes all of a sudden at 30%? Keep in mind that over 50% of Us citizens survive paycheck to paycheck at least a portion of the year. This consumption tax is a poorly...

The only problem with this is that many gov't programs are inflation adjusted. So, hyperinflating won't have the full impact it normally does.

You could have said that in the first post and saved us the trouble of responding.

Just say you are a Quantitative Financial Engineer/Analyst. Unless you trade on luck alone or by strategies you purchased, you did technical work to be successful as a trader.

This is very old news. Must have been a slow day at the MSM news desks today.

You forgot Tradestation in your list.