Tax and enslave. We could pay it down every year but, WASTE-FRAUD-ABUSE. Stop & reverse the clock.
Arrogance and ignorance. Like all great nations that fell apart, we think it can't happen to us.
Those bleating about "affordability," don't realize that currency debasement is at the root of it. Trump relaxes tariffs on bananas, but spends like a madman.
Stealing foreign deposits over the Ukraine sh*thole was bad too. Investors no longer see the dollar as safe, and nations look for alternatives.
Having too much of something people don't want makes it less valuable.
“We can never pay this off.”
If we just make interest payments and balance the budget inflation will reduce the effective debt.
Trump’s BBB is projected to provide a several trillion dollar surplus over ten years.
That is 38,000 BILLION DOLLARS in DEBT!.............
I still hear people refer to US T-bills as a safe investment, even as the ratings on them slide. Not only are they not safe, buying government debt is like a bartender plying the town drunk with alcohol, knowing full well he’s about to drive past a grade school as it lets out. In this case the students being the generation yet unborn that is being saddled with the debt through no fault of their own. It’s sick that people keep buying federal T-bills and bonds to keep growing this monster.
There is one problem in fixing this, the uniparty congress who got to this point the last couple of decades. The only question remaining is what year The Great Collapse is going to happen or what dollar amount.
Perhaps a good weekly post.
DOGE only did a recission of $43B so far. There is no saving there.. They are just identifying old corrupt payments. Vance should be working on recission packages 24/7. What is he doing?
Jekyll Island 1913.
Not at all true - and it’s not super-hard to pay it off - just hard.
What most people don’t understand about the national debt they do in fact understand trivially regarding their own debt. For instance, buy a big house - now you’re $1M in debt. You make a fraction of that. How are you ever going to pay it off? Easy - make your mortgage payments on time every month, and it eventually just disappears. But there’s a catch. You can’t amass large amounts of debt elsewhere, and you can’t keep borrowing against the mortgage (which prevents the principle from getting smaller).
Just do that - only that - and you retire the mortgage in 20 years - or these days more commonly 30 years.
Now, let me just rephrase that a little: a big up-front debt is scary ($1M mortgage, for example), but if you just live WITHIN YOUR MEANS and pay all your bills, the mortgage will disappear over time.
Why doesn’t the national debt disappear? Because we NEVER live within our means. Balance the budget, even run a SMALL surplus, and the debt will just start disappearing. And let me be clear - round up - say we have a $40T debt - we DO NOT have to run $2T surpluses for 20 years straight, like most assume, to retire that debt. We just have to keep the budget BALANCED. Why? Because the government makes it budget out like you do. When you live within your budget you are NOT spending more than you make, but part of that spending is on your debt (that $1M mortgage, as an example).
The annual budget INCLUDES payments against the preexisting debt. So STOP BUYING MORE DEBT and run a balanced budget and you start paying all of your debts off. Those notes are in various equities, some as little as a few years and some a couple of decades. Just pay on them, with no new debts, and they all get paid off on their cycle.
And this is the most important point here - if the US started running a BALANCED budget our credit rating would SKYROCKET and the economy would EXPLODE - making it even easier to pay off the debt. But, unlike what most would assume, you CANNOT run a big surplus to pay it off faster. BAD idea. Even if you use the whole surplus to pay it off and not on pork - because the money is ALWAYS more productive in the hands of the people. So keep reducing taxes more and more to keep the surplus down.
It’s the opposite of a vicious circle. Just look up Thomas Sowell.
Just stop the clock.
There, fixed it.