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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
Posted by boosiebadazz
Member since Feb 2008
80522 posts
Posted on 2/13/19 at 9:24 am to
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.
This post was edited on 2/13/19 at 9:25 am
Posted by bmy
Nashville
Member since Oct 2007
48203 posts
Posted on 2/13/19 at 9:31 am to
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 by GRTiger
On a roof eating alligator pie
Member since Dec 2008
63483 posts
Posted on 2/13/19 at 9:31 am to
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 by udtiger
Over your left shoulder
Member since Nov 2006
99719 posts
Posted on 2/13/19 at 9:41 am to
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 by Antonio Moss
Baton Rouge
Member since Mar 2006
48351 posts
Posted on 2/13/19 at 10:52 am to
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 by Tchefuncte Tiger
Bat'n Rudge
Member since Oct 2004
57571 posts
Posted on 2/13/19 at 11:29 am to
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 by Meauxjeaux
98836 posts including my alters
Member since Jun 2005
40461 posts
Posted on 2/13/19 at 11:49 am to
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 by ShortyRob
Member since Oct 2008
82116 posts
Posted on 2/13/19 at 11:51 am to
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.

Not if ~70% is owed to your own citizens.
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