The National Debt, does anyone care?

Canada Free Press ^ | 08/21/19 | Jim Ross Lightfoot

[Sean_Anthony]

So, when will we hear someone running for election or re-election start talking about our huge debit and ways to reduce it? Now that we have the Democrat debates underway it’s time to turn our attention to carefully listen to what the potential candidates have to say.

Are they talking about issues that are really important to the nation? Or, are they talking about proposed plans and schemes that will get them elected?

Out here in the real world much of what we hear is a bit confusing and is difficult to understand.

[jonrick46]

Or national debt is at the mercy of interest rates. When Zer0 ran up the national debt, we had low interest rates. When the interest rates climbed, the chickens came home to roost. We now have to cut spending to make up for the higher interest rates. The Dems’ control of the House makes that impossible. That’s why we call them the DemonCRAPs. 2020 must be a pressure wash of the political landscape.

[DoodleDawg]

The National Debt, does anyone care?

Sure. Republicans care when a Democrat is in the White House. Democrats care when a Republican is in the White House.

[Dilbert San Diego]

In addition to the “official” national debt of roughly $22 trillion, there are “unfunded liabilities”, of many trillions more.

If the federal government had to follow “Generally Accepted Accounting Principles”, they would be insolvent, and on the road to going out of business.

[Lurkinanloomin]

I stopped worrying about the debt when I realized it wasn’t going to be our country for much longer.

[rollo tomasi]

Over 10,000 individuals per day now are fall under Medicare and will grow even further the next 20 years. Part-A is exhausted by 2026 so needs a monumental amount of billions perhaps trillions poured in. Hospital systems need to merge and consolidate just to break even if they leverage even a tiny bit. There is no competitive forces to drive prices down, cost will continue to climb leading to rationing. The economy needs to grow at higher rates just to sustain healthcare obligations. Why? Medicare is the largest single payer, over 50% and reimbursements are nowhere near 100% of costs.

The debt does not matter though. Tell that to future interest rates and equity that WILL be suffocated when the demographic bomb explodes. Have not even touched on Medicaid, defense spending, Social Security, etc...

[rollo tomasi]

When the budget obligation to pay the interest per year from the national debt exceeds 3X the amount of the next highest budgetary obligation, maybe people will begin to be concerned about our debt.

[tet68]

In any mention of the National Debt I always think
back to James Fenimore Cooper’s sea story, “The Crater”.
Written in the early 1800s and set in the late 1700s
the two main characters get into a discussion of the
national debt and is it going to destroy the fledgling
country...at that time is was $270,000!!!

[yefragetuwrabrumuy]

Remember that 1/3rd to 1/2 of the national debt is money the government *owes itself*.

[shanover]

It’s scary. Most think we are too big to fail or be that other country that collapses.

[Georgia Girl 2]

Until we get away from the Federal Reserve system which transfers wealth away from the people to the banks the national debt is not repayable. Trump knows this and so do our legislators.

[eyeamok]

Under our current monetary system structure, the Debt can NEVER be paid down, All Federal Reserve Notes and Credits were LOANED in to Society with Interest Attached, however the Interest is NOT Created and must be paid through the Blood and Sweat of Labor and a Continuous and Constant Devaluation of Specie by Borrowing more in to Society.

Think of it as Watering down the Booze to the point it takes 2 bottles to get a buzz whereas it only used to take 2 shots. If you look at the VALUE (purchasing power) of our Money compared to 1964 it will be readily apparent.

Funny thing is, the US Treasury has the RIGHT to just ISSUE CURRENCY DEBT FREE instead of borrowing through the Federal Reserve Cartel.

[CommerceComet]

Mitt said he did. Let’s rephrase the question: Does anyone whose opinion matters care?

[DesertRhino]

“Funny thing is, the US Treasury has the RIGHT to just ISSUE CURRENCY DEBT FREE instead of borrowing through the Federal Reserve Cartel.”

The last president that tried that got a free ride in a convertible...

[PGalt]

BUMP!

[eyeamok]

I thought of that while I was writing it, but the Guy that did it before him was Wildly Successful!!, and it was the only time in our Nations History the National Debt was Paid OFF!!

[Vermont Lt]

Nope.

[ctdonath2]

I’ve run back-of-napkin numbers for paying off the national debt.
Seems you’d have to cut all spending to about 50% of actual revenue, dumping the other 50% into debt service ... to pay it all off in about 30 years.

Not happening.
We can’t even get get Congress to cut the rate of increase.

[TBP]

The Dhimmicraps want to make it totally unpayable. Then they can crash the economy and impose stringent conditions on us while they live lives of luxury.

[kaehurowing]

Not to worry, we can always sell California to China.