re: “We’re going to pay off...the $35 trillion in debt. We’re going to pay it off...fast too.

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How about 100% taxing all the super rich leftists like Gates, Zuckerberg?

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Wouldn't dent the debt.

We just need a balanced budget bill forcing a balanced budget and over time the debt will be reduced due to bonds maturing

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If you drained every bank account of every single American, you would barely dent the debt

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I often throw this at my liberal friends I encounter that believe we just don't tax the rich enough.

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Do you know what the total entirety of wealth of every billionaire in the US combined is? (they never know, and they rarely even thought of it in this manner before, so I usually get big eyes)

It's 5 trillion give or take a few % points. So basically, you could take 100% of everything that every billionaire in the country possesses; and you wouldn't even pay for 1 years annual federal expenditures.

It wouldn't even cover the deficit alone for a whole 5 years. It would not cut our debt to gdp to under 100%, while also draining capital from the best capital allocators the country has available.

Taxing Jeff Bezos and Elon isnt going to fix shite. Get a calculator.

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How about 100% taxing all the super rich leftists like Gates, Zuckerberg?

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If you taxed every dollar in income above $1,000,000… you couldn’t balance the budget as it is now. Much less pay off any debt.

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We just need a balanced budget bill forcing a balanced budget

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You ready to cut off granny and grandpas SS and Medicare? Why do you want to kill old people?

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I trust Trump will try to pay it off.

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You should do some simple math instead.

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During his first term, he would have paid down the debt some if the Chinese wouldn’t have sent us Covid.

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Nope. Our (then future) deficits were created under the Obama administration with the increase in debt service from “stimulus”, the medicaid expansion, and demographics of boomers retiring.

Our deficits are basically never growing to be lower (even if jeebus is president) without some serious changes to SS/MEDI or A LOT more collected in taxes from the “middle class”.

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Wrong, you globalist, America last said the same thing about Trump's tariffs but prices didn't go up.

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I will give you one clear example. Shiraz Balolia owns Grizzly Industrial one of if not the largest seller of (small) wood and metalworking machines in the US. This is his post on Sawmillcreek (a woodworking forum) just before the tariffs hit. The prices on Chinese-built machines did go up 25% across the board as he said they would.

It would have destroyed the global economy and a depression that would make the late 1920s look like the early 1920s

US government debt is fake as shite and will always be. Well as long as we have a shite ton of nukes and 11 nuclear powered aircraft carriers. Its all made up bullshite used to string the median voters along

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You ready to cut off granny and grandpas SS and Medicare? Why do you want to kill old people?

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The budget can be cut without cutting SS and Medicare. Those that are between 18 and 65, otherwise able to work should work or starve.

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It's not? Seems to me that if you pay more than just the interest to the debt each period and you decrease the amount that is added to the debt each period, you will decrease the amount the debt increases (decrease the rate of increase). Now you continue to increase the amount you pay and decrease the amount of new debt each new period. At a point in the future, the amount paid toward the debt will exceed amount added to the debt and the total amount of the debt owed will begin to decrease. Sounds EXACTLY like how I paid my credit cards off.

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US securities are non-callable financial instruments. Each type has its own maturation period. You can’t “pay more than the interest” on this type of security. The reason they are highly valued is that the US is always pays its interest obligations.