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Yupster

(14,308 posts)

44. Same with the US

Tue Jan 27, 2015, 11:37 AM

Jan 2015

The US debt is about $ 18 trillion. At 3 % interest that's 540 billion a year in annual interest payments.

Without the interest, we'd have a balanced budget too.

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Greece must bow to austerity or go bust, says EU [View all] Stephen Retired Jan 2015 OP

So we'll see who blinks first. n/t PoliticAverse Jan 2015 #1

Of course they believe that they hold all of the cards. TexasTowelie Jan 2015 #2

They hold the "if you want more money you have to do what we say" card. n/t PoliticAverse Jan 2015 #4

Syriza holds a higher card - without the interest payments, they think Greece wouldn't need money Yo_Mama Jan 2015 #29

And no one will invest in Greece. candelista Jan 2015 #43

Feeling good about that? JackRiddler Jan 2015 #61

What is your problem? candelista Jan 2015 #67

Same with the US Yupster Jan 2015 #44

Yes, but we aren't running the massive budget deficits as a percent of GDP Yo_Mama Jan 2015 #47

Don't disagree with you about Greece, truebluegreen Jan 2015 #52

Then the solution, is not to ask for anymore money from people you regard as crooks, I guess. freshwest Jan 2015 #56

"Radical Left" was the headline at washingtonpost.com, as well. delrem Jan 2015 #3

Do you see 'radical' as negative? muriel_volestrangler Jan 2015 #13

context is everything. delrem Jan 2015 #15

Unfortunately, I need some context for that gnomic utterance muriel_volestrangler Jan 2015 #16

Iceland did ok... Helen Borg Jan 2015 #5

As well as implementing austerity and borrowing billions from the IMF hack89 Jan 2015 #8

Actually Iceland still has a mountain of debt. DCBob Jan 2015 #23

The EU is demanding it be paid before they are allowed to join FLPanhandle Jan 2015 #24

Iceland recently withdrew its EU application. roamer65 Jan 2015 #35

And at the time had a debt of 50% of GDP not Greece's 177% whatthehey Jan 2015 #53

EU can't allow Greece to set a precedent. joshcryer Jan 2015 #6

Or Italy, Spain or Portugal. n/t amandabeech Jan 2015 #54

Like Venezuela . .. PosterChild Jan 2015 #7

Greece to EU: fuck off. blackspade Jan 2015 #9

They can certainly do that, but they must be prepared for the consequences. Adrahil Jan 2015 #12

Yes, they need to rethink their way of life and all. Helen Borg Jan 2015 #14

It has already caused massive problems truebluegreen Jan 2015 #55

Well, duh... Helen Borg Jan 2015 #58

Nice talking to you. nt truebluegreen Jan 2015 #63

The "duh" was not directed at you, FYI. nt Helen Borg Jan 2015 #64

The way the IMF goes about.... sendero Jan 2015 #65

Greece has no real option FLPanhandle Jan 2015 #10

There is always an option Jack Rabbit Jan 2015 #17

That is an option FLPanhandle Jan 2015 #18

There will be some short term pain involved, but the Greeks owe it to themselve to shorten the term Jack Rabbit Jan 2015 #22

They can get money from China or the BRIC Cosmic Kitten Jan 2015 #30

To whom do they owe the money? Dyedinthewoolliberal Jan 2015 #28

It's not just the old debt, it's getting loans to cover their current spend FLPanhandle Jan 2015 #31

But what I mean is Dyedinthewoolliberal Jan 2015 #36

Depends on how the government cuts their spending FLPanhandle Jan 2015 #42

Greece may not. DeSwiss Jan 2015 #51

This is fresh ----wait until the food supply is affected warrant46 Jan 2015 #11

That's like being given the choice of smallpox or typhoid. hobbit709 Jan 2015 #19

Go Tsipras! Bragi Jan 2015 #20

Severe Austerity against Germany lovuian Jan 2015 #21

There's some austerity going on right here at home elias49 Jan 2015 #25

Who will scold us? JustABozoOnThisBus Jan 2015 #27

According to Paul Krugman, ND-Dem Jan 2015 #37

Thanks, no idea of those stats. Could you link the Krugman piece, too? freshwest Jan 2015 #57

link: ND-Dem Jan 2015 #59

Thanks! He always breaks it down. I wish he was in the government sometimes... freshwest Jan 2015 #60

They have 9% of our debt madville Jan 2015 #62

If they're threatening Greece with 'going bust', Greece should return the favour Erich Bloodaxe BSN Jan 2015 #26

That is exactly the platform Syriza campaigned on. Yo_Mama Jan 2015 #34

That's the Argentina strategy, which has some advantages Recursion Jan 2015 #39

My gut feeling, which might be ignorant of important less than obvious factors Erich Bloodaxe BSN Jan 2015 #46

How about instead of the poor picking up the tab the wealthy actually pay taxes?? Fearless Jan 2015 #32

The Euro was a massive mistake. Dawson Leery Jan 2015 #33

The euro is the real culprit here, I agree. Divorcing monetary and fiscal policy was a stupid idea Recursion Jan 2015 #40

Greece may have to take another short term hit in order to recover. Dawson Leery Jan 2015 #66

Syriza will get something but not enough TooPragmatic Jan 2015 #38

Plenty of "marginal" European countries aren't on the Euro Recursion Jan 2015 #41

But Greece does not have a currency TooPragmatic Jan 2015 #45

Austerity of a singularity seveneyes Jan 2015 #48

Time to Bit the Bullet Sparhawk60 Jan 2015 #49

K&R DeSwiss Jan 2015 #50