- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Breakdown of to whom the US owes its $22T debt
Posted on 2/13/19 at 10:52 am to Eli Goldfinger
Posted on 2/13/19 at 10:52 am to Eli Goldfinger
quote:
Other countries do owe us money.
Yep. From google:
quote:
China owes the US the most, with 1.3$ Trillion. (Incidentally while the US owes China the most. Indebting countries that your are in debt to is a surefire way of keeping it stable).
China owes the United States $1.3 trillion, which is the most debt out of all the countries that are its debtors. Japan was the primary debt holder until 2008, but now comes in second place, with $1.2 trillion. Other countries with outstanding U.S. debt include Russia, India and South Korea.
Posted on 2/13/19 at 10:53 am to RTM4
quote:
who are the individuals and entities that are here in the USA?
You, me, and basically any other adult with a retirement or investment account.
Posted on 2/13/19 at 10:54 am to bmy
quote:
bmy
You don't realize that Republican voters think differently than Republican politicians ?
A good start on reducing the debt would be no foreign aid , no illegals , stringent vetting of welfare , food stamps , Section 8 housing etc. , cutting federal workers , reducing the size of the military etc. , getting out of NATO , stop funding the United Nations, I could go on and on.
The problem is , Liberals don't bitch enough about spending.
It's conservative voters against , Liberal voters, Republican and Democrat politicians.
This post was edited on 2/13/19 at 10:59 am
Posted on 2/13/19 at 10:55 am to Antonio Moss
Well then I want a better interest rate on the money they owe me.
What is the interest rate on the money owed to the foreign countries?
What is the interest rate on the money owed to the foreign countries?
Posted on 2/13/19 at 11:29 am to boosiebadazz
quote:
If you also back up the above with the most powerful military machine to ever grace the planet then your national debt is essentially irrelevant.
That's a lot of words to say "armed robbery."
Posted on 2/13/19 at 11:49 am to boosiebadazz
quote:
If you also back up the above with the most powerful military machine to ever grace the planet then your national debt is essentially irrelevant.
I'm with you.
I have completely 100% given up caring about the national debt. I just gotta figure out how to drop a few more ones and zeros on my ledgers. Ain't nothing but a thang.
Posted on 2/13/19 at 11:51 am to boosiebadazz
quote:Not if ~70% is owed to your own citizens.
If you also back up the above with the most powerful military machine to ever grace the planet then your national debt is essentially irrelevant.
Posted on 2/13/19 at 12:07 pm to Eli Goldfinger
quote:
China owns a bunch of US treasury bonds, but it can only dump those bonds to a US-approved buyer. So basically China owns low interest IOUs that they can’t do much with.
And if they did dump those at below market value, they'd be screwing themselves a lot harder than they'd be screwing us.
Posted on 2/13/19 at 12:13 pm to RTM4
quote:
who are the individuals and entities that are here in the USA?
Pension funds, credit unions, mutual funds, corporations, state and local government entities, every FDIC insured bank, basically any and every financial institution and entity that needs access to low risk high liquidity funds to meet their future obligations.
We "owe it to ourselves" but that still means the US Treasury still has to pay back principal and interest on every bond they issued to those entities (except maybe the Federal Reserve).
If they just "wrote it off" like Kramer on Seinfeld and some other posters are suggesting, just about every major financial institution would be busted in short order and the entire financial system would collapse.
FYI, the CBO has already stated interest on the national debt will comprise over 1/3 of all government spending in FY 2021, totalling over $1 Trillion of the projected ~$3 trillion total federal budget. (Thanks Obama for adding an extra $14 trillion in 8 years to $4 trillion accumulated from George Washington to GWB!)
The same CBO report also says the other 2/3 of the 2021 budget will be consumed by Medicare and Social Security costs, leaving $0 to pay for ALL other current federal spending.
Hope y'all enjoyed the basic functions of the federal government, like interstates, air traffic control and national defense while it lasted. It's all going away to pay for Obama's spending and free medicine & welfare for old people exclusively.
This post was edited on 2/13/19 at 12:23 pm
Posted on 2/13/19 at 12:15 pm to RTM4
The same rate they give to you and your employer's pension fund and your mutual fund company. They don't have domestic and foreign rates. People, financial nstitutions and foreign governments buy UST obligations because they'll get paid back.
Foreign ownership doesn't really matter, it's not like China could redeem their obligations to get an extra seat in House of Representatives or some other leverage beyond repayment. There are plenty of other UST buyers that are domestic that buy a lot more than China.
Foreign ownership doesn't really matter, it's not like China could redeem their obligations to get an extra seat in House of Representatives or some other leverage beyond repayment. There are plenty of other UST buyers that are domestic that buy a lot more than China.
This post was edited on 2/13/19 at 12:22 pm
Posted on 2/13/19 at 1:01 pm to Rocco Lampone
quote:
Literally no one has said that
...
quote:
by boosiebadazz
national debt is essentially irrelevant
This post was edited on 2/13/19 at 1:02 pm
Posted on 2/13/19 at 1:13 pm to bmy
Much more important than who holds our debt is the cause of the debt. I'm much more interested in What specific legislation or action did most to create this debt.
Posted on 2/13/19 at 1:17 pm to GoIrish02
quote:
FYI, the CBO has already stated interest on the national debt will comprise over 1/3 of all government spending in FY 2021, totalling over $1 Trillion of the projected ~$3 trillion total federal budget. (Thanks Obama for adding an extra $14 trillion in 8 years to $4 trillion accumulated from George Washington to GWB!)
The US debt at the end of the 2008 FY (Sep 30, 2008) was $9.986 trillion. You are only $6 trillion off
Posted on 2/13/19 at 1:26 pm to Ebbandflow
quote:
A lot of countries owe the United States money. Lol.
And no one ever talks about the entire balance sheet. What is that $21T as a percent of assets? What is our equity position? They just throw that large debt out there to scare people.
The deficit is the real problem. It is fine to run a deficit some of the time, but we run one all the time. That will cause problems down the road if not reigned in.
Posted on 2/13/19 at 2:20 pm to wareaglepete
Would anyone ever be able to win a political seat by running primarily on paying down the national debt? I imagine that person wouldn’t even make the primaries.
Posted on 2/13/19 at 3:18 pm to bmy
quote:
Democrats in 2018:
blackface, the klan, and sexual harassment is the single greatest threat to a diverse society and will cause blood to run in the streets
quote:
Democrats in 2019:
blackface, the klan, and sexual harassment are essentially irrelevant
Posted on 2/13/19 at 3:59 pm to GRTiger
quote:
Considering 71% of that is owed to US citizens and institutions, that statement means the US government owns us, despite being built on the theory that we own the government.
Less than ideal.
What happens when the US can’t pay the interest on these bonds and people stop lending the Govt money?
Posted on 2/13/19 at 4:05 pm to deltaland
quote:
What happens when the US can’t pay the interest on these bonds and people stop lending the Govt money?
If you own a govt bond and that govt decides they’re no longer going to honor it...what do you think that bond is worth?
Now.....consider those bonds are a part of every corporation, pension plan, bank, retirement allocation, and God knows what else’s assets. What happens if a big part of your assets get revalued significantly lower due to default risk?
But no...we need to debt jubilee.
This post was edited on 2/13/19 at 4:08 pm
Posted on 2/13/19 at 4:18 pm to Eli Goldfinger
quote:
Would anyone ever be able to win a political seat by running primarily on paying down the national debt? I imagine that person wouldn’t even make the primaries.
Insert "keep your socialist hands off my Medicare" pic here.
Popular
Back to top
Follow TigerDroppings for LSU Football News