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Do you believe the government will ever repay its debt?
Posted on 11/2/23 at 1:08 pm
Posted on 11/2/23 at 1:08 pm
33.7 trillion dollars in debt with another 1.5 trillion planned over the next six months. 1/3 of tax revenue going to the interest on that debt every year.
Getting this down to a reasonable number would mean Congress would have to spend significantly less than tax revenue for at least 50 straight years. For reference, the government hasn't had a surplus year since 2001. The more likely scenario is the government increases its debt every single year until it approaches some astronomical number to where interest consumes all tax revenue and then some.
So what do you think happens? At some point government just prints a few dozen trillion and pays it all off? They just never pay it and don't care? Complete and utter ruin?
Getting this down to a reasonable number would mean Congress would have to spend significantly less than tax revenue for at least 50 straight years. For reference, the government hasn't had a surplus year since 2001. The more likely scenario is the government increases its debt every single year until it approaches some astronomical number to where interest consumes all tax revenue and then some.
So what do you think happens? At some point government just prints a few dozen trillion and pays it all off? They just never pay it and don't care? Complete and utter ruin?
15
Posted on 11/2/23 at 1:09 pm to Thundercles
No
Posted on 11/2/23 at 1:09 pm to Thundercles
Absolutely not
Posted on 11/2/23 at 1:10 pm to Thundercles
No. Next question.
Posted on 11/2/23 at 1:10 pm to Thundercles
We borrowed the very first dollar ever printed from the Federal Reserve..
How exactly will we pay it back?
How exactly will we pay it back?
Posted on 11/2/23 at 1:11 pm to Thundercles
quote:
Do you believe the government will ever repay its debt?
Posted on 11/2/23 at 1:13 pm to Thundercles
No, because there is no such money in circulation. How can you possibly pay back an amount that you don’t even have the currency printed to pay back?
Posted on 11/2/23 at 1:14 pm to Thundercles
it's just ink on paper.......and zeros added in the computer!
Posted on 11/2/23 at 1:19 pm to Thundercles
quote:
Do you believe the government will ever repay its debt?
No. It will never happen.
Posted on 11/2/23 at 1:24 pm to Thundercles
quote:
Do you believe the government will ever repay its debt?
Yes.
I believe you mean to ask will the federal government ever reduce it's debt burden to zero. The answer is no.
But yes, the Treasury pays the face value on treasury bonds (debt obligations) at maturity everyday the bond market is open.
This post was edited on 11/2/23 at 1:31 pm
Posted on 11/2/23 at 1:25 pm to Thundercles
Seems most here don’t know how the debt actually works.
These are all bonds, notes etc that have maturity dates. They are mostly owned by either our own government for social security etc or by pensions across the country. Only 30% is held by foreign entities.
1/3 of our debt will mature next year. If the budget were miraculously balanced it would reduce by 1/3 next year ($7.6T)
The debt all individual maturity dates/timelines and will all eventually mature. The questions is whether the budget can stay balanced long enough to not create surplus debt (new debt- maturing debt)
These are all bonds, notes etc that have maturity dates. They are mostly owned by either our own government for social security etc or by pensions across the country. Only 30% is held by foreign entities.
1/3 of our debt will mature next year. If the budget were miraculously balanced it would reduce by 1/3 next year ($7.6T)
The debt all individual maturity dates/timelines and will all eventually mature. The questions is whether the budget can stay balanced long enough to not create surplus debt (new debt- maturing debt)
Posted on 11/2/23 at 1:25 pm to Thundercles
6.1 trillion in spending
4.5 trillion in tax revenue.
Let’s say we get a conservative govt (lol) that manages to Cut spending in half. Surplus of 1.5 trillion
It would then take 22 years, or almost 6 presidential terms, of sound fiscal policy and restraint to pay it back.
So in short answer, no. Financial collapse and civil war leading to starting over is more likely because not enough voters or politicians are willing to make the hard decisions and sacrifices that would come with cutting federal spending in half
4.5 trillion in tax revenue.
Let’s say we get a conservative govt (lol) that manages to Cut spending in half. Surplus of 1.5 trillion
It would then take 22 years, or almost 6 presidential terms, of sound fiscal policy and restraint to pay it back.
So in short answer, no. Financial collapse and civil war leading to starting over is more likely because not enough voters or politicians are willing to make the hard decisions and sacrifices that would come with cutting federal spending in half
Posted on 11/2/23 at 1:27 pm to Thundercles
quote:
Do you believe the government
You could've just ended the threat title right there and also gotten a resounding and unanimous answer.
Posted on 11/2/23 at 1:27 pm to deltaland
The way the pols deficient spend, they know it will never be paid back.
Posted on 11/2/23 at 1:30 pm to deltaland
quote:
6.1 trillion in spending
4.5 trillion in tax revenue.
Let’s say we get a conservative govt (lol) that manages to Cut spending in half. Surplus of 1.5 trillion
That assumes costs stay stagnant. SS and Medicare are expected to double in cost over the next 10 years. Currently just these 2 programs account for $1.8-$2 Trillion per year.
Imagine when that doubles to $3.6-$4 trillion with high interest rates on our existing debt.
Posted on 11/2/23 at 1:33 pm to Thundercles
The whole monetary game is a shell game centered around consumer sentiment and confidence leading to supply and demand policies that influence monetary supply and company decisions.. so basically a state sponsored circle jerk that incentivizes growth and innovation
In the end who does the party that made the money payback
In the end who does the party that made the money payback
Posted on 11/2/23 at 1:40 pm to Thundercles
At some point they declare war and proclaim their debt wiped.
Posted on 11/2/23 at 1:50 pm to Thundercles
NO. The Socialist-Marxist will continue spending until they bankrupt this country. They're on the edge of realizing their goal - they just need one more term in office to put the final nail in the coffin.
A socialist is a communist - a communist is a socialist.
Trump 2024 - It's Very Important
A socialist is a communist - a communist is a socialist.
Trump 2024 - It's Very Important
Posted on 11/2/23 at 1:51 pm to Mike da Tigah
quote:
No, because there is no such money in circulation. How can you possibly pay back an amount that you don’t even have the currency printed to pay back?
You’d have to run a surplus for years and let all of the treasury bonds mature and be cashed out over time without borrowing more money during that time
Posted on 11/2/23 at 1:54 pm to Ribbed
quote:
At some point they declare war and proclaim their debt wiped.
Yeah, except most of the debt is U.S.-held.
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