Posted on 08/25/2024 7:05:59 AM PDT by MtnClimber
Amazingly, the United States GDP is $16 trillion per year, and our national debt is now $35 trillion. Our biggest national expense is interest service on the debt. But we don’t all know that $36.8 trillion represents all the money in the world. Put that in your pipe and smoke it.
A few weeks ago, I looked up how much money there is in the whole world. I did this because I was making the point that if a person is sick enough and close enough to death, then all the money in the world poured into medical care will not bring him back. Furthermore, not all the money in the world spent on medical care will bring him back from any successive drop down the ladder of well-being toward the point of no return. Drugs are artificialities. They cover up symptoms, but they do not substitute for the holistic requirements, like good food, sound exercise, meditation, prayer, like chiropractic, that actually improve the body in multiple physiological ways.
The World Atlas says that all the money in the world equals $37.8 trillion. Our debt now equals all the money in the world?
Spending in the modern era is a Democrat thing. It bribes voters and also conforms to the Cloward-Piven strategy to end family, religion, commerce, enterprise, and Western civilization through debt-collapse into a rubble from which Gyorgy Lukacs, Wilheim Munzehberg, John Dewey, the Fabians, the Frankfurt School, Max Horkheimer, Antonio Gramsci, Theodore Arno, and many others hoped a socialist utopia would climb. The operative word is “hope.”
How did Democrats get us here? When did they start driving the “hockey stick” of social welfare spending skyward? In 1964, with the great War on Poverty. This jumpstart spending program was supposed to knock out poverty, disparity, and want...
(Excerpt) Read more at americanthinker.com ...
And what about all the tea in China?
And Kamala wants to spend how much more?
No more tax cuts until spending is cut. Laffer should be burned at the stake.
Kamala is not the lone ranger on wanting to spend. She has a lot of help and a good many wear the Republican Brand. Especially those wanting to throw American Taxpayer dollars at their favorite male nude dancer. They are also known by the title “Zeepers”.
No mention of the Brics? MSM will not report much, however, as bad as things look, the Brics Summit in two months will put a spike in the USD hegemony.
Do yourselves a favor and read up on the Brics M- Bridge Unit. Any wonder why ALL the world’s Central Banks are buying Gold at HISTORIC levels?
I am getting tired of explaining the behind the scenes events that are occurring. Do your own research, and prepare accordingly. We are witnessing the decline of the USD, and rise in alternate “ money”. Don’t get caught with your pants down
And Harris wants to run up another $25 trillion!
We could pay it off tomorrow if we’d sell some of our federal lands which is abundant and really too much to hold making nothing.
I’ll take “How Nations Collapse” for $500, Alex.
I hate stupid people which means, I hate liberals. They’re too stupid to understand simple economics. Maybe it’s because of all that pot they smoke and smack they inject. If that’s the case, then I hate libertarians too.
If our debt was only 38 trillion…it could possibly be reduced through fiscal responsibility.
——————
No. The debt is mathematically impossible to pay off, period. History shows us this:( all 4200 paper currencies in history went through these phases).
1) Unpayable debt- check
2) Huge inflation- in progress
3) Currency crisis
4) Default.
Note: anyone of these can occur before another. But they all end in Default.
Fact: the Fed is stuck, they must keep interest rates high to lower inflation OR lower interest rates to help the economy. Lowering interest rates will allow inflation to rise….the end game is nearing.
Reagan was first to excellerate the debt and those who followed him, continued. He only cut things like social security, adding taxes to social security and added two years to eligibility for social security. But he did nothing to stop food stamps, welfare or any real cuts. He did call them welfare queens while increasing their benefits.
Yup—I use the event horizon of a Black Hole as an analogy.
The space ship captain can make lots of fancy impressive maneuvers for quite a while—but the end of the story is 100% certain.
Increasing the money supply IS "inflation". Higher prices are a result of that. I wish the media and the politicians were better at educating the public about this. It might lead to better fiscal policy.
Remember when the “American Dream” dies the bumper sticker that says, “Whoever dies with the most things wins”.
Your country is desolate, your cities are burned with fire: your land, strangers devour it in your presence, and it is desolate, as overthrown by strangers. (Isaiah 1:7)
How much does the US pay in interest on the national debt?
The Congressional Budget Office (CBO) projects that interest payments will total $892 billion in fiscal year 2024 and rise rapidly throughout the next decade — climbing from $1 trillion in 2025 to $1.7 trillion in 2034. In total, net interest payments will total $12.9 trillion over the next decade. - https://www.pgpf.org/blog/2024/08/what-is-the-national-debt-costing-us
How much the government pays in interest depends on the total national debt and the various securities' interest rates . As of July 2024 it costs $956 billion to maintain the debt, which is 17% of the total federal spending in fiscal year 2024. https://fiscaldata.treasury.gov/americas-finance-guide/national-debt/
Who owes the US the most money?
Japan owns the most at $1.1 trillion, followed by China, with $859 billion, and the United Kingdom at $668 billion. In isolation, this $7.4 trillion amount is a lot, said Scott Morris, a senior fellow at the Center for Global Development.May 26, 2023 - https://www.marketplace.org/2023/05/26/who-does-the-u-s-owe-31-4-trillion/
How much would each US citizen have to pay to pay off the national debt?
The total debt stands at over $34 trillion, and if you watch the clock at the Peter G. Peterson Foundation website, the amount owed is increasing by the second. According to the foundation, each person in America would have to pay about $102,000 to pay that off. And the rate of increase is almost logarithmic.May 6, 2024 - https://thehill.com/opinion/finance/4633773-eat-the-boomers-how-to-repay-americas-national-debt/
We could pay it off tomorrow if we’d sell some of our federal lands
————
You have no concept of what $35 Trillion is…..you are not alone.
The best you can hope for is not to be around when the US starts to default.
I truly won’t argue that point. I’m most certain you are correct including myself.
I swear AOC is searching for Baby Farts McGee and his spaceship full of Space Bucks.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.