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Depressing thought about our national debt
Posted on 10/19/20 at 9:33 pm
Posted on 10/19/20 at 9:33 pm
Let’s say out national debt is $21T.
That means - not counting interest - if we wanted to pay the debt off in 100 years, we would have to pay over $575 MILLION per day...or almost $24 MILLION per hour.
Sad
That means - not counting interest - if we wanted to pay the debt off in 100 years, we would have to pay over $575 MILLION per day...or almost $24 MILLION per hour.
Sad
20
Posted on 10/19/20 at 9:34 pm to Eli Goldfinger
Now do dollars spent per covid death or perceived covid death "saved"
Posted on 10/19/20 at 9:40 pm to Eli Goldfinger
This board stopped giving a single shite about deficits or debt in January of 2017.
Posted on 10/19/20 at 9:42 pm to Eli Goldfinger
I'm thinking we are now at $27 trillion with the past year of spending. Not to be a downer.....
Posted on 10/19/20 at 9:42 pm to ValDawgsta
I agree with you on that. I’m 41, been hearing about exploding national debt since it hit 4 trillion under Reagan. When is this mounting debt actually going to cause a crash or calamity, because it continues to grow and yet I still haven’t seen the disaster materialize.
Posted on 10/19/20 at 9:43 pm to Eli Goldfinger
Posted on 10/19/20 at 9:44 pm to ValDawgsta
quote:
This board stopped giving a single shite about deficits or debt in January of 2017.
and that is bullshite
no point in discussing it much when NOBODY would could do anything about it will
Posted on 10/19/20 at 9:46 pm to gthog61
quote:
and that is bullshite
no point in discussing it much when NOBODY would could do anything about it will
You’re being disingenuous here. You know exactly why it stopped being discussed much.
Posted on 10/19/20 at 9:49 pm to Eli Goldfinger
trump worse than Bernie when it comes to natl debt
Posted on 10/19/20 at 9:57 pm to LATIGERFAN
quote:A quart of wheat for a day's wages
. When is this mounting debt actually going to cause a crash or calamity, because it continues to grow and yet I still haven’t seen the disaster materialize.
Posted on 10/19/20 at 9:59 pm to Eli Goldfinger
Look at how much credit card/mortgage/vehicle/student loan debt most people have. Almost everything these days is financed-cell phones, 4 wheelers, xbox. Rarely do people own anything or have vehicles that cost less than $30,000.
Posted on 10/19/20 at 10:00 pm to Eli Goldfinger
Bro we have bigger problems than the debt. There is a Marxist takeover led by the democrat party and the MSM.
frick the debt. The debt won’t matter when we don’t have a constitution.
frick the debt. The debt won’t matter when we don’t have a constitution.
Posted on 10/19/20 at 10:11 pm to Eli Goldfinger
We don’t have to pay it off like that.
We just have to stop increasing it - or really just have to get the economy to increase faster than the debt. In time inflation will make the debt effectively less and less.
But even calling it “debt” is a bit of a misnomer. The country isn’t really in debt in the same way you owe a debt to the bank for your house ... the US is the economy and makes/controls the money which comprises the “debt.” A better analogy would be to look at it as a form of stock - you wouldn’t say that Amazon is a trillion dollars in debt to its shareholders, would you?
We just have to stop increasing it - or really just have to get the economy to increase faster than the debt. In time inflation will make the debt effectively less and less.
But even calling it “debt” is a bit of a misnomer. The country isn’t really in debt in the same way you owe a debt to the bank for your house ... the US is the economy and makes/controls the money which comprises the “debt.” A better analogy would be to look at it as a form of stock - you wouldn’t say that Amazon is a trillion dollars in debt to its shareholders, would you?
Posted on 10/19/20 at 10:23 pm to Eli Goldfinger
Eh honestly don’t care about the national debt.
As long as our military has the biggest dick on the block it’s not like anyone can collect. What are they going to do?
It would be a much larger concern if we were a bitch country like Canada.
As long as our military has the biggest dick on the block it’s not like anyone can collect. What are they going to do?
It would be a much larger concern if we were a bitch country like Canada.
Posted on 10/19/20 at 10:24 pm to gthog61
Refuse to pay China debt held for reimbursement of Covid...PROFIT?
Posted on 10/19/20 at 10:26 pm to ValDawgsta
quote:
This board stopped giving a single shite about deficits or debt in January of 2017.
Actually or was about 2013 or 2014 for me but who’s sweating a few years?
Posted on 10/19/20 at 10:26 pm to SlapahoeTribe
quote:
We don’t have to pay it off like that.
We just have to stop increasing it - or really just have to get the economy to increase faster than the debt. In time inflation will make the debt effectively less and less.
Two problems:
1) Excessive government debt crowds out private sector investment and slows economic growth
2) Excessive government debt is deflationary
Why do you think the trend of both GDP growth rates and inflation have been weakening for two decades?
So, yeah, we have to pay if off like that.
Posted on 10/19/20 at 10:30 pm to SlapahoeTribe
It’s nothing like stock value. The only thing amazon “owes” its’shareholders is the par value of the stock.
The US owes every dime of that debt
The US owes every dime of that debt
Posted on 10/19/20 at 10:32 pm to Eli Goldfinger
What’s the difference between Democrats and Republicans?
Democrats spend like crazy and want to raise our taxes to pay for it.
Republicans spend like crazy and just want to pay for it with debt.
No one wants to really cut spending.
Democrats spend like crazy and want to raise our taxes to pay for it.
Republicans spend like crazy and just want to pay for it with debt.
No one wants to really cut spending.
Posted on 10/19/20 at 10:36 pm to RedStickBR
3) interest expense, if rates go up, which they eventually will, is going to screw us. Since we aren’t actually paying debt off, as rates go up, the bonds we continue to issue will be at ever higher rates.
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