Posted on 09/11/2017 3:28:25 PM PDT by Drago
For the first time in its history, the US federal government has more than $20 trillion in outstanding debt.
The milestone was technically hit Friday, with the Treasury Department settling its accounts at the end of the day with $20,162,176,797,904 of debt outstanding.
(Excerpt) Read more at businessinsider.com ...
Over 9 trillion under Obama.
Well, to be honest, it’s not like we were going to pay back 19 Trillion, so why would 20 be any different? Is Paul Ryan even planning to work on a balanced budget?
Well just wait till the go after our Roths and 401s its coming
You do realize the Republicans were holding out for a massive 15 month CR. right?
Evidently not.
What’s really insane is having our politicians scheming for ways to help fraudulently documented foreigners stay here and continue to rip us off to the tune of billions of dollars a year while we sink ever deeper into debt.
this is directly on the republirats. And I am disappointed on Trump’s resolve here. If not now — when? We have just thrown in the towell . Our Children will die in food riots. These bastard politicians will be out of the country.
No doubt numerous schemes are ready to go for seizures of retirement accounts.
Only about $200,000 from each working person.
Of course, also about $100,000 to each non-working person.
They just print the damned money and dilute our wealth . They have no shame at all. They just want theirs now from K street and they don’t give a crap about the future of this country.
Pretty soon a loaf of bread will cost $10, then $100, then $1,000.......we’ll go the route of Germany after WW1.
“Obama called Bush a traitor when he raised the debt ceiling and then guffawed that it was just partisan politics when he went and did the same.”
Funny how Trump is doing the same. He even crosses party lines and worked with dems to raise the debt ceiling. Are you fine with that?
If anybody dosen’t think that an increasing debt load won’t impact the US, I have a bridge to sell them (payment in gold only).
“Pretty soon a loaf of bread will cost $10, then $100, then $1,000”
A loaf of bread used to cost 10 cents. It costs 20 times now. It will cost 200 times in the future.
Im so tired of the bull shit this goes on every year in some form or another and no one will stop it.
>>>Well, to be honest, it’s not like we were going to pay back 19 Trillion, so why would 20 be any different?
From April 2016
Trump: We’ve got to get rid of the $19 trillion in debt.”
Bob Woodward: “How long would that take?”
Trump: “I think I could do it fairly quickly, because of the fact the numbers…”
Woodward: “What’s fairly quickly?”
Trump: “Well, I would say over a period of eight years.”
“payment in gold only”
Gold, in grand scheme of things, is as useless as the plastic money. The concept of currency is just based on thin air. True economy is commodity barter. Back to neolithic!
...and Ryan and McConnell are not doing a damn thing about it. We need solid Conservative leadership in Congress.
Yep, but at some point we have to start moving toward a balanced budget or the interest on the national debt (currently about $433 billion/yr. @ artificially low interest rates) will eat up most of the federal budget and those “programs” you mention will be in jeopardy. EBT & SS will continue no matter the “cost”, but may not be worth the “paper” they are printed on (i.e. Venezuela). The “swamp” has to continue artificially low interest rates in order to enable the deficit spending...savers suffer (CD & MM rates). Depending on the product we buy I am seeing a reasonable 2 or 3% annual inflation on groceries, insane medical insurance inflation (>15%), electricity up about 8% per year, restaurants/fast food up about 8-10%/yr., and we are looking at a new car and everything we like is about $32K!! Hang in there with your dad...my mom is writing $3750. checks every month for my Dad’s care, and that is WITH a long-term-care insurance policy kicking in another $4700.!
Had really hoped Trump would start the ball rolling toward paying it down. Unfortunately, it doesn’t look like that is part of the plan (now).
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