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re: The U.S. national debt hits $40 trillion
Posted on 8/20/26 at 7:17 am to Rainier Fog
Posted on 8/20/26 at 7:17 am to Rainier Fog
Why am I supposed to care about the debt? I don't even know what it even means, or how real it actually is. In what way does it prevent the gov't from spending? You'd think there would be consequences for being a trillion dollars in debt, but it hasn't seem that way since it just keeps climbing and nothing is really changing. It's as if all of this money and debt is just make believe money and the gov't still is going to do and spend whatever they want.
We've been told SS will run out for decades now. It hasn't, and it won't. We'll just imagine more money and keep paying for it.
We've been told SS will run out for decades now. It hasn't, and it won't. We'll just imagine more money and keep paying for it.
Posted on 8/20/26 at 7:19 am to TeddyPadillac
I don't completely understand it, but apparently Scott Bessent is doing all kinds of things to keep things functioning (intervening in yen markets, probably intervening in energy markets). Now, I'm probably a little brainwashed from doom porn I consume, but I think we are getting near some kind of 2008 situation.
Posted on 8/20/26 at 7:21 am to RLDSC FAN
Almost like it's some sort of accomplishment.
Posted on 8/20/26 at 7:40 am to RLDSC FAN
Conventionofstates.com.
Posted on 8/20/26 at 7:46 am to SOSFAN
quote:
If sleepy Joe were still president those numbers would be even worse.
This is like a woman saying “my ex husband beat me worse than my current husband does”.
Posted on 8/20/26 at 7:54 am to SOSFAN
quote:
sleepy Joe
How many more naps does Trump need to take before that name is retired?
Posted on 8/20/26 at 8:00 am to TeddyPadillac
quote:
I don't even know what it even means, or how real it actually is.
Treasury securities (bonds, t-bills, etc) are very real. And $40 trillion worth have been issued to cover government spending that exceeded the federal budget.
quote:
In what way does it prevent the gov't from spending?
Today, it doesn’t. As long as the federal government keeps paying interest on those securities, everybody is happy.
However, interest on the national debt is 18 percent of the federal budget. It is a bigger line item than defense spending at this point.
Math says this is unsustainable because if we keep doubling this ridiculous amount every few years, there won’t be enough federal revenue to pay the interest.
At that point, the answer to your second question will be very clear.
Posted on 8/20/26 at 8:03 am to RLDSC FAN
I desperately wish they would break this number into foreign and domestically held.
Most of the US debt is held by the US taxpayers and other govermental or quasi-governmental institutions. It's a misnomer to attribute $40 trillion as debt as if there is someone who is willing to collect money from us.
Japan has the most at a little over $1 Trillion. Japan needs the USD to reign supreme for their economy to not collapse, so don't think they will be collecting anytime soon. After that it's a lot of allies and China.
The debt owed to foreign entities has actually decreased since 2007. Do with that info what you will.
Most of the US debt is held by the US taxpayers and other govermental or quasi-governmental institutions. It's a misnomer to attribute $40 trillion as debt as if there is someone who is willing to collect money from us.
Japan has the most at a little over $1 Trillion. Japan needs the USD to reign supreme for their economy to not collapse, so don't think they will be collecting anytime soon. After that it's a lot of allies and China.
The debt owed to foreign entities has actually decreased since 2007. Do with that info what you will.
Posted on 8/20/26 at 8:09 am to Dadren
quote:
Treasury securities (bonds, t-bills, etc) are very real. And $40 trillion worth have been issued to cover government spending that exceeded the federal budget.
Kewl. If they can hand out $40 trillion, then what the hell does it matter if they hand out another $40 trillion? These numbers are almost make believe numbers.
quote:
Math says this is unsustainable because if we keep doubling this ridiculous amount every few years, there won’t be enough federal revenue to pay the interest.
I bet the math has been saying this for many years, yet nothing has changed.
Posted on 8/20/26 at 8:10 am to TeddyPadillac
quote:
then what the hell does it matter if they hand out another $40 trillion?
That is the exact thinking of a politician.
Posted on 8/20/26 at 8:27 am to NawlinsTiger9
quote:
Trumponomics, baby
Of course the "moderate" only points his tiny finger one way
Posted on 8/20/26 at 8:30 am to NawlinsTiger9
quote:
Trumponomics, baby
I've been called democrat on this board many times (I'm not), but this is not a Trump thing.
Since Trump took office foreign-held debt has remained steady or decreased. It's just not on him.
This is a Bush-Obama phenomenon.
Posted on 8/20/26 at 8:33 am to SOSFAN
Another “if” scenario. Just get your head out your MAGAss and admit that The Don screwed us. As a 2nd time Trump voter I’m really disappointed in this admin.
Posted on 8/20/26 at 8:39 am to HailHailtoMichigan!
quote:
The 10% fed workforce reduction is one of the few serious things djt has done.
But the work still has to be done, by law. Enter government contractors who charge even more (including the kickbacks they pay to politicians). Fraud and abuse up, accountability down.
You're better off with the Fed employee on the payroll and actually watching out for the corruption instead of hiring gov contractors full of grift.
Posted on 8/20/26 at 8:52 am to Mordecai225
quote:
As a 2nd time Trump voter I’m really disappointed in this admin.
+1 remember when Doge was going to save us so much money?
Posted on 8/20/26 at 8:56 am to TeddyPadillac
quote:
Kewl. If they can hand out $40 trillion, then what the hell does it matter if they hand out another $40 trillion? These numbers are almost make believe numbers.
I literally just explained this.
If you double the outstanding debt, you double the interest.
Unless you double the revenue, more of the federal budget goes to interest.
You kewl with more of your taxes going toward interest on dollars that should never have been spent in the first place?
Posted on 8/20/26 at 9:10 am to RLDSC FAN
Doubled in the last 10 years
So in the next 10 years, on this pace, it could be closer to 80 trillion
So in the next 10 years, on this pace, it could be closer to 80 trillion
Posted on 8/20/26 at 9:12 am to Dadren
quote:
If you double the outstanding debt, you double the interest. Unless you double the revenue, more of the federal budget goes to interest.
Interest to who? The govt?
I get what you’re saying, it just seems like none of this matters and the “money” is just limitless. $40 trillion is a make believe number. If it doesn’t matter at $40T why would it matter at $50T
Posted on 8/20/26 at 9:14 am to HailHailtoMichigan!
quote:
It’s only going to get worse as social security and Medicare grow more insolvent
Medicare vs "Learing Centers"? Which is more destructive.
Posted on 8/20/26 at 9:18 am to RLDSC FAN
quote:
remember when Doge was going to save us so much money?
Amazing these retards fell for that shite. The guy who flies rockets to nowhere and digs holes for fun, all funded heavily by taxpayers, was going to smash debt. Haha
MFer stole data and is going to monetize it and run up more debt.
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