2y ago

U.S. national debt surpasses $34 trillion

www.upi.com

U.S. national debt surpasses $34 trillion - UPI.com

35 comments

Why wasn't the Debt an issue when Trump was giving Free Money to rich people?
- The simple fact of the matter is the debt ceiling is arbitrary, and a political tool to be brought out when convenient so Republicans can say, "We're spending too much!" Yet as soon as they get into office, they cut taxes and increase spending. The thing is we have more than enough sovereign wealth to pay our debts, and will continue to do so as long as our GDP continues to grow. The debt ceiling is a straw man and the ceiling is made of glass.
  
  We don't have enough wealth to pay our debts, and haven't in so long that I suspect all of our debtors have long since given up on being paid back.
so? wasnt a problem for rolling out that trillion dollar tax cut...
The real issue is not so much the debt but rather revenue raising, the increasing debt is merely a symptom of the US's inability to attract enough revenue (via taxes) to cover it's spending. Decades of propaganda by the right (you could easily substitute Oligarchy here) and the slashing of taxes on wealthy individuals and corporations has created an unsustainable debt situation. This is despite the sovereign debt issue.
- It's not just lack of revenue. Spending has to stop too. The US is spending about 38% more than it takes in, and it's growing.
  
  Meh.. or what exactly? What happens and when?
  I see this number trotted out every election year, and everyone gets their panties in a bunch, but I can't see what happens if we don't fix it.
When has this ever mattered?
- Some said once that debt is good
  Edit: hello financial analysts
  
  All I know is that for all of my 46 years, I've been told what the national debt is as if it is significant and it keeps going up and it doesn't seem to have any effect on anything.
  
  He who goes out owing the most wins. Lived like a king and didn’t pay for a damn thing.
- It matters when Republicans want to blame Democrats for something, especially when Republicans want to cut food and housing programs for poor people.
  
  Republicans will always find a reason to blame Democrats.
All money is currently debt. Every dollar in existence is owed to someone at interest.
This is functionally the same as saying we have a lot of money.
Why don’t we just pin the debt on some guy and just kill him? Boom no more debt.
- We don't need to kill anyone. We can just do what rich people do and put all their debt into a private corporation so they don't have to worry about it anymore.
- Ah, the Christian approach.
- FYI: “That guy” is (mostly) China.
  
  Actually its mostly Japan these days
Who cares? Businesses get bailouts and foreign creditors get the threat of freedom.
Do you think they get calls from collection agencies during dinner?
- You get the spam Chinese phone calls to?
Private savings in USD surpass $34 trillion
I wish I could go $34 trillion dollars in debt. Hell, I'd even settle for $1 trillion. That's enough that it's the bank's problem, not mine.
Good time to print more dollars.

35 comments