For those interested, I have a bunch of historical data that I have put together on my personal web page. Click here if you're interested. Note: I maintain this and other stuff on my site for my own personal enjoyment. I don't have so much as a cookie on it. Enjoy!
Here is the relevant chart from my site:
If you look at the chart for the entire history of the Republic, the debt numbers during that period are too washed out to be useful...
Might as well zero out the current number since it will NEVER be paid back. Besides, ain’t everything gonna be ‘fwee’ starting 1/21/2021?
Put a fake nose on either they both look like a witch.
...but which weighs more than a duck?
I wish President Trump had made debt reduction part of the deal.
However, taking arrows for ‘We The People’ on a daily basis will have to be enough for now. :(
Each Taxpayer ‘owes’ $222,000.00+ as of today.
Can’t hardly WAIT to see what the NEXT four years brings as we ‘Build Back Better’ from our most prosperous years in DECADES!
*Rolleyes*
I’m sure the ‘republicans’ will once again start making noises about how bad the debt is, now that they have no power whatsoever to do anything about it.
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As I’ve gotten older (and gained a better understanding of modern, central banking), I’ve come to realize that the only danger is inflation. Contemporary knowledge of how to deal with inflation is good, so it’s really not an issue. Thank about it, we’ve had historically low interest rates for ages and yet prices have been held in check by a struggling economy. During Obama’s tenure, the Fed had interest rates effectively at 0 and we still had low inflation (of course we had low growth too, but that’s a different issue).
We should not let Republicans use this talking point in the future. Individual financial responsibility and productive behavior? Fine. Being misers when the average American citizen is hurting badly? Not fine. What McConnell did in his recent stunt was inexcusable.
And one result of such a large debt, bring interest rates to savers close to zero. Earning interest at say 5% on an insured bank CD was I think an important part of retirement income for many people until quantative easing.
There is no reward for saving anymore. I believe we are seeing negative interest rates in Europe.
And when asked, what did say his greatest accomplishment was?
“I killed the bank”. Today it is called the federal reserve.