National debt tops $22 trillion for the first time as experts warn of ripple effects

frick it, kick the can down the roam amirite?

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The national debt has been rising at a faster rate following the passage of President Donald Trump’s $1.5 trillion tax-cut package a little more than a year ago

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The nation has added more than $1 trillion in debt in the last 11 months alone.

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Peterson attributed the growing national debt to "a structural mismatch between spending and revenues." The biggest drivers are the aging population, high healthcare costs, and growing interest payments, combined with a tax code that fails to generate sufficient revenue, he said.

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Wait, i thought it was the evil tax cut that literally killed millions.

Really have to cut some government spending. Some of these programs are ridiculous.

Sadly, a lot of “fiscal conservatives” are just saying that since the dems did it that they can which is not fiscally conservative.

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On January 20, 2009, when he was sworn in, the debt was $10.626 trillion. On January 20, 2017, when he left, it was $19.947 trillion.

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FY 2009 - first year's spending from Obama's Economic Stimulus Act to the FY 2009 budget. That $253 billion accrues to Obama.

FY 2010 - Obama's first budget created a $1.294 trillion deficit.

FY 2011 - This budget deficit was $1.3 trillion. Defense spending hit $855 billion.

FY 2012 - The deficit was $1.087 trillion.

FY 2013 - This was the first Obama budget where the deficit, $679 billion, was less than $1 trillion. Thank sequestration. It forced a 10 percent cut in spending.

FY 2014 - The deficit was $485 billion.

FY 2015 - The deficit fell further to $438 billion.

FY 2016 - The deficit rose to $585 billion.

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For example, the Social Security Trust Fund has run a surplus since 1987. There were more working people contributing via payroll taxes than retired people withdrawing benefits. The Fund invests its surplus in U.S. Treasury notes. The president can reduce the deficit by spending these funds instead of issuing new Treasurys. As a result, Obama added $8.588 trillion to the debt.

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Where was your concern then?

The largest reason why the debt has been growing is because of the stimulus money added to the budget in Obama's first term. Because no new budgets were passed that money has stayed in the budget every year and it is compounding at 5-6% per year due to automatic budget increases.

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National debt tops $22 trillion for the first time as experts warn of ripple effects

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Been hearing this same bullshite for 25yrs

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Because literally every new number is a "first time"

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Exactly

It's all doom and gloom then life just goes on like it doesnt matter

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Where was your concern then?

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Lets keep answering questions with questions....why does your concern now not match your concern then?

Let me preface this post by stating that the national debt and the overall size and scope of gov't are my primary issues in regards to voting, activism, etc, etc......


These problems are ALWAYS problems, not just when the other guy is in office. Democrats said NOTHING as Obama spent us into oblivion. Republicans are saying NOTHING as Trump spends us further into oblivion. Please stop pretending like you care. It makes those of us that do really pissed off.