Posted on 03/08/2023 6:19:48 AM PST by ChicagoConservative27
Not without imploding the building...
The Obama/Biden administrations have accounted for roughly 18-20 trillion in National Debt of the 31 trillion.
That’s not an accident. That’s a feature.
That would mean no more cheap Chinese imports or any cheap imports including oil at all, which would force the US to decouple from globalism. Risky, but not necessarily a bad outcome.
The blip showing a reduction was in 2000 I think. The Fed Gov ran a surplus one year.
Total Debt today at $31.6 T (Usdebtclock).
Total of the yearly deficits, 1789 thru 2022 at $25.2 T (from WH website table).
In other words, somehow usdebtclock’s figuring adds $6.4 T to the debt, with the inference that we’ve effectively NEVER paid a plug nickle of principle to the Natl debt.
To your point, any single year respite to the adding to the national debt was miniscule or in the noise of the mainstay piling on of additional debt.
This corresponds to Reagan’s Grace Commission report.
If the chicoms go after Taiwan we will default on the debt to the chicoms and the chicoms will seize all Western assets in China, a trade off.
>> . I don’t give two 💩’s about government employees losing their jobs either.
I want to see 85% to 90% of fedgov employees fired.
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