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Message
re: We crossed $40trillion in debt
Posted on 8/17/26 at 7:35 pm to Lsupimp
Posted on 8/17/26 at 7:35 pm to Lsupimp
quote:
If we confiscate all annual income from every billionaire and millionaire we could knock that down almost 5%. Really, to create the Socialist utopia we deserve, we will have to seize all their private property too. Then we can pay off that debt and eat the rich- win-win, right?
Read not long ago that if you took everything from every billionaire in America, from their stocks and assets all the way down to their shower curtains and drawers, it'd be enough to fund the federal government for a few months one time.
Not a fan of how the ultra-wealthy borrow against their assets to avoid paying taxes on most of their shite, but the idea that taking more from billionaires will solve a bunch of our financial problems is a liberal pipe dream.
0
Posted on 8/17/26 at 7:36 pm to Sharlo
I've seen a few people say Bessent is doing all kinds of things to keep the machine going like intervention in Japanese and energy markets, but it can only go so long.
Posted on 8/17/26 at 7:38 pm to Boom33
quote:
The federal reserve is a scam.
FIFY
And, money isn’t real.
Posted on 8/17/26 at 7:39 pm to DeltaDoc
quote:
Trump - Biden - Trump has been a deadly combination for our debt. Edit: Trump started in 2017 with $19.947 trillion in debt.
Inexcusable. Even if we got our shite together right now and decided on fiscal conservatism and paying down the debt our great great great great great great great great great great great great great great great great great grandchildren will be paying for our mistakes. Well, maybe not. The country could always implode first.
Posted on 8/17/26 at 7:42 pm to DeltaDoc
quote:
Trump started in 2017 with $19.947 trillion in debt.
He’s just getting started Patriots Big Beautiful Bill will add $3-5 trillion to the debt.
Posted on 8/17/26 at 7:43 pm to Figgy
I've got the solution.
Print 40 trillion dollars and pay off all debt.
Voila!
Problem solved.
Print 40 trillion dollars and pay off all debt.
Voila!
Problem solved.
Posted on 8/17/26 at 7:44 pm to SlidellCajun
We were going to have a surplus in around 2001 or so, we could have kept things they way they are and paid it all down.
But George Bush polled the issue and the political line he came up with was
"It's not Washingtons money it's your money." Okay great but then it's also not Washingtons debt it's your debt so pay it down before you expand a Medicaid drug program (Bush did) or cut taxes before the Iraq was (like Bush did).
I think America lost big time in 2000 when we did not elect either Gore or Perot and give them permission to not increase spending, no tax cuts - assignment - budget deficit to zero in 8 years.
We would be so much better off.
But George Bush polled the issue and the political line he came up with was
"It's not Washingtons money it's your money." Okay great but then it's also not Washingtons debt it's your debt so pay it down before you expand a Medicaid drug program (Bush did) or cut taxes before the Iraq was (like Bush did).
I think America lost big time in 2000 when we did not elect either Gore or Perot and give them permission to not increase spending, no tax cuts - assignment - budget deficit to zero in 8 years.
We would be so much better off.
Posted on 8/17/26 at 7:46 pm to SlidellCajun
Don’t forget about Unfunded Liability of about 125 trillion.
Posted on 8/17/26 at 7:51 pm to Eurocat
quote:
Gore or Perot
One of these is not like the other.
Posted on 8/17/26 at 7:51 pm to SlidellCajun
Damn, Doge really didn’t do a goddam thing did they
Posted on 8/17/26 at 7:52 pm to DeltaDoc
quote:
Trump - Biden - Trump has been a deadly combination for our debt.
Obama started the out of control spending in 09. People were livid at Bush for 300bn deficits lol I’d kill for that right now.
The scary part is we all know nobody will do anything about the deficit or debt. There will come a day it cannot be sustained. Then the current inflation will seem like child’s play
The debt is why we have the MIC. Need the best military to maintain petrodollar as the reserve currency status. That’s why we took Venezuela and are going after Iran. It’s also why we have had so much immigration, to prop up this house of cards you have to maintain gdp growth. To do that you need population growth and birth rates were plummeting thus immigration doors were opened
Posted on 8/17/26 at 7:52 pm to SlidellCajun
When Bill Clinton is the most fiscally conservative president of your lifetime, there's a problem.
Posted on 8/17/26 at 7:55 pm to SCLibertarian
Posted on 8/17/26 at 7:55 pm to SlidellCajun
And all anyone here can do is be mad and try to blackpill others
Fun times
Fun times
Posted on 8/17/26 at 7:56 pm to Brosef Stalin
quote:
Republicans don't either
This is false.
I am a Republican. I care.
Posted on 8/17/26 at 7:56 pm to deltaland
quote:
Obama started the out of control spending in 09. People were livid at Bush for 300bn deficits lol I’d kill for that right now.
Don’t forget Obama had close to 8 years of 0% interest rates. That was the start of the cliff. This economy can’t work like that.
Posted on 8/17/26 at 7:57 pm to Bunk Moreland
quote:
I've seen a few people say Bessent is doing all kinds of things to keep the machine going like intervention in Japanese and energy markets, but it can only go so long.
Sure would be awesome to have something other than a completely useless Republican majority in Congress.
Posted on 8/17/26 at 7:58 pm to SlidellCajun
quote:
We crossed $40trillion in debt
We?
I didn't do this. "We" pay taxes. A lot.
Posted on 8/17/26 at 7:58 pm to theRealJesseD
quote:
The depth of depression this economy would undergo from paying off the debt would be almost as bad as the debt bubble bursting
Both are dominos, it's just a matter of which one will fall first to knock the other down.
Posted on 8/17/26 at 7:59 pm to SlidellCajun
Any yet this seems to be significantly down the list of important topics for most politicians these days.
This post was edited on 8/17/26 at 8:03 pm
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