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Interest on the debt now exceeds defense spending
Posted on 5/21/24 at 6:55 pm
Posted on 5/21/24 at 6:55 pm
7
Posted on 5/21/24 at 7:02 pm to Crimson Wraith
quote:
Interest on the debt now exceeds defense spending
frick it USA needs to jusrt default on it and refuse to pay
so sorry, we not gonna pay you back.
the only way to stop the spending is to cut off all sources of getting national loans
Posted on 5/21/24 at 7:03 pm to Crimson Wraith
quote:
US federal budget
I thought they quit doing that? Hasn't it just been continuing resolutions since Obama was president?
Posted on 5/21/24 at 7:04 pm to Crimson Wraith
Doesn’t seem ideal
Posted on 5/21/24 at 7:04 pm to Crimson Wraith
Be careful with this. "for the first seven months" is significant. Government spending and borrowing isn't even across months. That said... they are both too high.
Posted on 5/21/24 at 7:06 pm to keakar
quote:the whole house of cards is standing on confidence in printing cash to keep paying it
frick it USA needs to jusrt default on it and refuse to pay
furthermore, all the decision makers probably own some of that debt and want their money.
Posted on 5/21/24 at 7:09 pm to Crimson Wraith
It’s like the Soviet Union in the 70s. Can’t fricking wait.
Posted on 5/21/24 at 7:10 pm to Crimson Wraith
The US spent $820B on Defense last year. The interest on the debt for last year was $1.025T.
Moral of the story: It started exceeding Defense spending last year.
Footnote: Interest on the debt is never going down (unless they cut spending enough to pay down the debt). The CBO estimates it will be the single highest federal expenditure by 2030.
Moral of the story: It started exceeding Defense spending last year.
Footnote: Interest on the debt is never going down (unless they cut spending enough to pay down the debt). The CBO estimates it will be the single highest federal expenditure by 2030.
Posted on 5/21/24 at 7:13 pm to Bard
quote:It's going to be a hoot when those that scream every time the government has a 2 week "shut down" call on us defaulting on the debt when it exceeds SS/Medicare.
The US spent $820B on Defense last year. The interest on the debt for last year was $1.025T.
Posted on 5/21/24 at 7:20 pm to Crimson Wraith
Can’t Brandon just wave his magic wand and make it go away
Posted on 5/21/24 at 7:30 pm to blueridgeTiger
quote:
Can’t Brandon just wave his magic wand and make it go away
He makes student go away in similar fashion, why not national debt?
Posted on 5/21/24 at 9:32 pm to keakar
quote:
so sorry, we not gonna pay you back.
It's all bs, most of it is owed to the fed, it's like vaporware.
Posted on 5/21/24 at 9:46 pm to faraway
quote:
the whole house of cards is standing on confidence in printing cash to keep paying it
Our currency and debt rating is ultimately backed by our military might
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