[SeekAndFind]

We Americans are the borrowers responsible for paying off the debt. Congress put every one of us into debt without our permission. Suffice it to say that we private citizens are responsible for paying back this debt, with interest.

Further, we citizens cannot sustain this burden of debt. Nobody can.

[Boomer One]

We need a national sales tax that everyone pays. Tax income and the non-affected don’t suffer and continue to vote for the free spenders. Tax everyone and voters will look for good stewards who will keep deficits and taxes low.

[T Ruth]

Mr. Davidson has a poor grasp of numbers. The 2023 federal budget deficit was $1.7 trillion on revenue of $4.43 trillion and total spending of 6.13 trillion.

Calculated on revenue, the deficit was 38%. Calculated on total spending, the deficit was 28%.

Thus, contrary to Mr. Davidson, there is not a "6% annual deficit (yearly shortfall)." Rather, of federal spending there was in 2023 a 28% shortfall.

Calculating the deficit on the basis of GDP (Gross Domestic Product) is not a very useful number.

[cgbg]

My brilliant lefty Economics professor explained to me why the national debt does not matter decades ago:

“We owe it to ourselves.”

Omg.

[xzins]

My understanding is that we bring in about 4.5 trillion and spend about 6.5 trillion each year. That’s an awful lot more than 6% borrowing. It’s about 33% borrowed.

[Bishop_Malachi]

How long can you go on spending 16% more than you make before the lender stops lending? The nations that buy our national debt, our Treasuries, are the lenders.

______________________________________________________

Even if individuals and other nations refused to buy Treasury Bonds, the Federal Reserve could (and would) buy them. They could buy every last one of them. And they could do it indefinitely into the future. The only significant concern would be the inflationary effect. This all became a reality when we hitched our wagons to a Central Bank based on pure fiat currency.