National debt surpasses $31 trillion

Fox News ^ | October 4, 2022 4:19pm EDT | Peter Kasperowicz

[jdsteel]

I support the Ukrainian people in their fight against the Russian invasion.

[JonPreston]

Your support requires deficit spending, so why complain?

[delta7]

Dow up...all good /s
————-

Countries stock markets indicate absolutely nothing about a nation’s financial health. Debt is.Stock markets are an illusion, parked wealth. Notice modern melt down examples, Argentina, Venezuela, their stock markets stayed buoyant, rising / ebbing with inflation, but when their currency ( unit of measure) suffered currency crisis, the actual purchasing power was destroyed.

Take our DOW, hovering around 29,000, the USD is at 110 ( record high), when our USD index goes back down to the 80’s, or a currency crisis occurs, the 29,000 will buy 30 percent less just by a currency unit measure, throw in inflation, could be 40 percent plus less buying power.

Keep your eyes on Credit Suisse and Duetches bank, 3 trillion at risk as of yesterday, as with the meltdown of 2008, it began in the European financial markets. As a note, the combined worlds debt is now over 300 trillion- unsustainable.

[P.O.E.]

Ginormous transfer of wealth.

The middle class is being wiped out, the poorest of the poor and the richest of the rich getting the goods.

Next step, take the goodies away from the poor, and the iron boot will come down even harder, because there will be no more cushion from the power-crazed.

[RckyRaCoCo]

Sounds like a great time to setup a whole new (global) money system. /evil

[samiam5]

Democrats didn’t do it by themselves.

[Graybeard58]

I remember people freaking out when it was only 3 trillion.
`````````````````````````````````````````````````
Nobody tell liberals what comes after trillion.

[cowboyusa]

Good old Andrew Jackson actually retired the Debt!

[Lumper20]

We were in the 200 billion range when I grew up. I could not understand a trillion at first.

[MHGinTN]

A mathematical perspective not lost on the Chicoms. We are inflating away their leverage.

[kabar]

The real impact of the $31 trillion national debt is the debt servicing costs.

In late May, the Congressional Budget Office (CBO) projected that annual net interest costs would total $399 billion in 2022 and nearly triple over the upcoming decade, soaring from $442 billion to $1.2 trillion and summing to $8.1 trillion over that period. However, if inflation is higher than CBO’s projections and if the Fed raises interest rates by larger amounts than the agency projected, such costs may rise even faster than anticipated.

The growth in interest costs presents a significant challenge in the long-term as well. According to CBO’s projections, interest payments would total around $66 trillion over the next 30 years and would take up nearly 40 percent of all federal revenues by 2052. Interest costs would also become the largest “program” over the next few decades — surpassing defense spending in 2029, Medicare in 2046, and Social Security in 2049.

Ballooning interest costs threaten to crowd out important public investments that can fuel economic growth in the future. CBO estimates that by 2052, interest costs are projected to be nearly three times what the federal government has historically spent on R&D, nondefense infrastructure, and education, combined.

[delta7]

Sounds like a great time to setup a whole new (global) money system. /evil
——-
You must mean like Biden’s and Yellen call for digital currency- real evil. A financial crisis will have the sheeple all on board- just like the Covid hoax.

[joethedrummer]

“$31,000,000,000,000 created out of nothing and dumped into the American economy.“

Yep, only… how much of this was printed up and given away to other countries (for gay studies, etc..), used as payoffs and laundered right back with 10% going to the ‘big’ dope… umm, guy?

[Responsibility2nd]

To add some perspective to those numbers, it must be realized that Bush and Obama added all of their trillions of dollars to the debt in 8 years. Trump did his damage in only four.

[jdsteel]

My support and the actions of Biden are two different things, and neither control the other.

[JonPreston]

Please don’t act shocked at our deficit when you support deficit spending.

[M Kehoe]

This could be a reason the United States isn’t mentioned in the Book of Revelations.

An asteroid, or Yellowstone going boom?

Who knows?

5.56mm

[DoughtyOne]

I was thinking more like $35 Trillion, so that is almost a
relief.

We have got to do something about that debt, and I think it’s
time to really lop off a lot of Welfare recipients.

We spend over $1 trillion each year on Welfare, under many
different names.

[Olog-hai]

It’s possible we are but under a different name, a more ancient name.

[Olog-hai]

Not necessarily. But that’s the way the Peter The Great worshiper does things, on The One’s command.