how big does the national debt have to get before we overhaul the whole system? How far does the financial sector need to crash? How long do we continue tossing a quarter million people out of their houses each month? We need to fix the money. We need to reform banking. We need to wake up and smell the economy.

National Debt? Its not that much compared to GDP. People's morgages normally run up 8-10 times more than their gross income, and our debt isn't even near that point.

You are an idiot without a clue.

Most of the debt comes from bonds, which don't get paid for 20 years, hence why people buy them for college and collect the interest.

But you are obviously an idiot.

I think San got picked on a lot as a child.

Aww, did you say that because you are currently menstruating, or from the fact that you sat on a broom when you were 4 and its been going further and further into your large intestines every year and causing you so many problems that all you can do is spew inane bs.

If I had to venture a guess, I'd say that San is an overweight social invert--possibly with an odor problem.

since I'm obviously an idiot without a clue, and since you are obviously much better versed in the national debt ... maybe you could clear up a couple questions your post left in my mind....

National Debt? Its not that much compared to GDP. People's morgages normally run up 8-10 times more than their gross income, and our debt isn't even near that point.

right. I didn't realize it worked that way. So, National Debt should compare to GDP the same way people can not handle their mortgage payments? I guess that insures that we will be losing the republic the same way people are losing their homes. But wait, this agrees 100% with my post. Perhaps you need to explain this to me. What exactly is 8-10 times more than their gross income? their payments? the size of their mortgage note?

At any rate, it seems you are advocating that we should be at least 8 times our national income in debt. Since the federal government takes in roughly 2.3 trillion per year, I assume you would think it totally reasonable to carry 18.4 trillion in open market bonds. Double our current load. Piece of cake, eh? Last year the interest on the national debt ate up 600 billion dollars of our taxes. No sweat? It should have been twice that high? As it was, we ran a 400 billion dollar deficit, you are proposing that it could have been a trillion dollar deficit? No sweat? Did I get that right?

Most of the debt comes from bonds, which don't get paid for 20 years, hence why people buy them for college and collect the interest.

Again, I am sitting here wondering which bonds you are talking about? Are you saying that most of the open market bonds that comprise the debt service portion of the national debt (as opposed to the non-serviced special bonds placed in Govt trust funds) are comprised of individually owned savings bonds? ... which get paid off in 20 years?

Ever hear of Treasury auctions? Those bonds are sold to central banks around the world and their primary dealers. Those are the bonds that out Treasury pays interest on. We owe over 9 trillion dollars in Treasuries. Those bonds are rarely paid down; obviously Bush never paid down the national debt, he ran deficits every year in office; record deficits, he doubled the national debt.

I am a licensed mortgage originator in the state of Illinois. Let me clue you in on something: the word mortgage has a t in it.

"So, National Debt should compare to GDP the same way people can not handle their mortgage payments?"

Blah blah blah.

People can't handle their morgage payment because their debt is more than 10 times their income, and over a 30 year period, they wouldn't be able to pay it off.

But seeing as how the national debt is 9.4 trillion, it is not even comparable in terms to the above.

You are wrong, and you don't have a clue. I feel sorry for anyone who ever worked with you, because you are patently an idiot.

Obviously, we missed our chance to sell another nine trillion in Treasuries; too bad, maybe we could have rebuilt some roads or offered decent education to our children; or let me guess; fought another three wars? At any rate, the economy is doing great, we are strong, and hell, we are only 9.4 trillion in debt - which is obviously less than ten times our national income. Thanks for straightening me out. No sense in me wasting any more of your precious time.

... except, you didn't exactly address the size of the deficit; is that important? Oh yeah, I forgot, Cheney cleared that up, deficits don't matter. Never mind, I'm good... thanks for helping me.

Will you be running for office? We could use a guy like you as Secretary of the Treasury. That post is so hard to fill, these days. You should give it some thought.

Daysman, you haven't a clue about economics.

We have been in debt for a very long time, and will be. You don't pay off debts immediately. Otherwise, you wouldn't be able to take out money!

Bonds and the rest are in it to gain money. Yes, 10 year, 20 year, and 30 years. I own bonds. If I wasn't guarenteed a large increase from interest, then I wouldn't have taken them out.

And yes, bonds are extremely important.

Get a clue, you dumbass.

How's that work anyway? Us mortgage bankers never learn about the bond market, most of us have second jobs as pack mules in the Grand Canyon. Except the smart asses; they work on Wall Street, but the rest of us dumbasses gotta work the Grand Canyon, it is terrible, the paths are narrow and you don't get a second chance to fall.

You own bonds? Do you get interest payments from the US Treasury twice a year? And you say that's a good thing for the Treasury? Healthy debt? So my taxes make payments on your bonds; and that's a good thing for me? Maybe I'm not the dumbass you say I am. Or is that a good thing for you, and I'm a dumbass for not owning bonds? Sounds like you are the smart one; after all, you are getting the interest payment from my taxes. Sounds like the US Treasury is making a dumbass out of every taxpayer who can't afford to buy bonds.

What percentage of the Treasury interest payment is going to central bankers overseas? Any clue? When Bush came into office it was 30%, but today it is over 50%. That sounds like Bush is making dumbasses out of, well, all of us. Our taxes are being sent directly to central banks in Japan, China, Great Britain, everywhere our Treasuries are floating. Maybe you could explain that one to me also, you seem to have a handle on the whole mess.

" At any rate, it seems you are advocating that we should be at least 8 times our national income in debt"

Oh, and thats an outright lie.

Saying that it isn't that bad compared to standard debt is not advocacy for more debt. But of course you, as a liar, wouldn't care.

Wow, your post basically read as "wah, I don't have a clue about economics, but I am pissed off because Im a socialist and this isn't 1930s Russia, wah".

Get a clue.

Bonds are good.

The economy hasn't even entered into stagnation, and we are still increasing.

Get over yourself, kid.

but he was sharp cookie, a wonderful poster. Are you him? Playing the devil's advocate? I was laughing so hard, my stomach hurt.... you do realize that I'm just playing along?

you think so?

(not really.)

Gee, San, you don't know humility when it kisses your face.

Are you using two names? This is highly confusing.