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re: Breakdown of to whom the US owes its $22T debt
Posted on 2/13/19 at 9:24 am to Eli Goldfinger
Posted on 2/13/19 at 9:24 am to Eli Goldfinger
If you owe the bank $1 million then the bank owns you. If you owe the bank $100 billion then you own the bank
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.
![](https://images.tigerdroppings.com/Images/Icons/Iconusaflagsmiley.gif)
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.
This post was edited on 2/13/19 at 9:25 am
Posted on 2/13/19 at 9:31 am to boosiebadazz
quote:
Republicans in 2015:
national debt is the single greatest threat to this country and will cause blood to run in the streets
quote:
Republicans in 2019:
national debt is essentially irrelevant
Posted on 2/13/19 at 9:31 am to boosiebadazz
quote:
If you owe the bank $1 million then the bank owns you. If you owe the bank $100 billion then you own the bank
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.
Posted on 2/13/19 at 9:41 am to boosiebadazz
quote:
If you owe the bank $1 million then the bank owns you. If you owe the bank $100 billion then you own the bank
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
Pretty much.
While not justifying it by any means, and agree we should work to reduce it, we owe ourselves 71.1% of that debt ($15.642 trillion) and, guess what, we aren't about to call it in on ourselves.
Also, except for China, the remaining major holders of our debt rely on our swinging dick military to protect them from Russia and China, so they're not about to frick around either.
Posted on 2/13/19 at 10:52 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.
You clearly don't understand how the credit/debt market works.
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.
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