re: A Quick Way To Pay Down/Pay Off The $40 Trillion National Debt

quote:

---

Osama won. Look at how the debt took off in 2001.

---

Revisionist history, as it stands ...

DJT II = biggest debtor
DJT I = next biggest debtor
Sleepy Joe = next biggest debtor

quote:

---

One of his main goals was financial ruin for the US.

---

That started with the 1980 election. Oil Shocks of the 1970's created the greatest destruction of US industrial wealth in the history of the USA.

It sunk Nixon
It sunk Ford
It sunk Carter

In the 80 election Carter said we need to become fiscally astute and suffer the short term pain over the next decade (The Malaise Speech)

Regan responded with the wandering speech about driving up the California coast (that he never even finished, they called time on him)


Regan won and responded with the greatest debt splurge since World War II and got through 2 terms unscathed. Bush Sr - better POTUS and should have gotten 2 terms - lost his 2nd term with "no new taxes" and Clinton responding with "Its the economy stupid". If you were an adult in the 70's and you ever heard "history repeats", seems it is all unfolding all over again.

- Oil instability in the oil markets
- Rising inflation
- Rising interest (coming attraction)
- Crappy foreign policy. Say what you will about Nixon but he brought China and Russia to heel in a single POTUS cycle
- Beltway Boys controlling Congress (both D's and R's)
- News media merging for profits over their 4th Estate history and becoming biased to a side for ratings over impartial reporting

Later, Rinse, Repeat

While modern media wants to divide us as "our side" = good and "other side" = bad, the truth is they use this division to rob us all blind.

quote:

---

Here is the deal-government touches almost every industry and taxpayer. Congress doesn’t want to tell us that if the government cuts back 10% it sends the country into a recession. Cut back 20%, the country goes into a depression. Government spending is pervasive.

---

Bingo. Currently, federal spending is ~23% of total GDP. That's with spending well over a trillion in deficits each year since COVID. In that same timeframe GDP growth has grown only an average of 2.6% (and that's probably going to be a bit high due to the extreme COVID outliers).

What this means is that the economy has become very dependent on sky-high deficits. As those deficits continue to accrue, they will also continue to grow due to debt only being serviced. As those debts continue to grow, the amount of deficit spending also must grow just to keep servicing the debt as well as paying for the federal government to keep funding things at around the same levels.

No one goes to DC to lose their next election and that's exactly what would happen if they started working to balance the budget (even something as soft as just freezing the budget and cutting $210B from spending each year for the next 10 years).

Yeah just more taxes lol.

How about stop fricking spending so much.

If you're government is handing out money to other countries you're being taxed too much

Somewhat related to your subject matter.......
Congress should be REQUIRED to pass a balanced budget by June 30th of the preceding year. I believe the madness continues and the debt continues to escalate because there is not 'absolute' nature to this country's finances. It is absurd the Congress is permitted to pass one 'temporary' spending extension after another.

quote:

---

they would attack pork belly spending, and defense contracts

---

They put one of the largest recipients in charge of finding himself.

Excellent explanation.

If you don’t support unfettered military spending while blaming food stamps as being the problem, then YOU are the problem, lol.