National debt explodes, surpasses 20 trillion for the first time in history.

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sanfordandson
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National debt explodes, surpasses 20 trillion for the first time in history.

Post by sanfordandson » Thu Sep 21, 2017 6:32 pm

http://www.businessinsider.com/us-debt- ... uch-2017-9
For the first time in its history, the US federal government has more than $20 trillion in outstanding debt.

The milestone was technically hit Friday, with the Treasury Department settling its accounts at the end of the day with $20,162,176,797,904 of debt outstanding. Of that debt, the Treasury said $14,622,661,213,046 is held by the public, while $5,539,515,584,857 is held by various parts of the government, also known as Intragovernmental Holdings.

The amount of debt held by the federal government had been stagnant since March due to the debt ceiling, or the statutory limit of debt the Treasury is allowed to hold at any one time.

Since the limit was reimposed in March, the Treasury used so-called "extraordinary measures" to keep the amount of debt at the roughly $19.84 trillion cap.

On Friday, President Donald Trump signed into law a bill that, among other things, suspended the debt ceiling until December 8. That means the Treasury can borrow freely until that date, when the outstanding amount becomes the new debt ceiling and extraordinary measures must begin again unless new legislation is passed.

That led to the roughly $317 billion jump in the amount of debt outstanding, likely to refill the Treasury's ability to use those extraordinary measures in three months if needed.
Go trump Go!! #-o

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Re: National debt explodes, surpasses 20 trillion for the first time in history.

Post by Firedome8 » Thu Sep 21, 2017 6:48 pm

sanfordandson wrote:http://www.businessinsider.com/us-debt- ... uch-2017-9
For the first time in its history, the US federal government has more than $20 trillion in outstanding debt.

The milestone was technically hit Friday, with the Treasury Department settling its accounts at the end of the day with $20,162,176,797,904 of debt outstanding. Of that debt, the Treasury said $14,622,661,213,046 is held by the public, while $5,539,515,584,857 is held by various parts of the government, also known as Intragovernmental Holdings.

The amount of debt held by the federal government had been stagnant since March due to the debt ceiling, or the statutory limit of debt the Treasury is allowed to hold at any one time.

Since the limit was reimposed in March, the Treasury used so-called "extraordinary measures" to keep the amount of debt at the roughly $19.84 trillion cap.

On Friday, President Donald Trump signed into law a bill that, among other things, suspended the debt ceiling until December 8. That means the Treasury can borrow freely until that date, when the outstanding amount becomes the new debt ceiling and extraordinary measures must begin again unless new legislation is passed.

That led to the roughly $317 billion jump in the amount of debt outstanding, likely to refill the Treasury's ability to use those extraordinary measures in three months if needed.
Go trump Go!! #-o
must be fake news !

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Re: National debt explodes, surpasses 20 trillion for the first time in history.

Post by pdq67 » Thu Sep 21, 2017 6:50 pm

President Trump didn't barrow the MONEY, now, did he??

We have a f** Gov. and the people running it WAY OUT OF CONTROL!!

pdq67

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Re: National debt explodes, surpasses 20 trillion for the first time in history.

Post by sanfordandson » Thu Sep 21, 2017 7:04 pm

pdq67 wrote:President Trump didn't barrow the MONEY, now, did he??

We have a f** Gov. and the people running it WAY OUT OF CONTROL!!

pdq67
He did actually. He signed the bill to raise the debt ceiling.... #-o

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Re: National debt explodes, surpasses 20 trillion for the first time in history.

Post by David Redszus » Thu Sep 21, 2017 8:41 pm

Under Obuma, the fraction of national debt to GDP rose from 88% to 106%, the highest in history.

Under Trump, the debt to GDP ratio declined to 103% in only 6 months.

As usual, Democraps are lecturing out their asses again.

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Re: National debt explodes, surpasses 20 trillion for the first time in history.

Post by 1989TransAm » Thu Sep 21, 2017 8:43 pm

David Redszus wrote:Under Obuma, the fraction of national debt to GDP rose from 88% to 106%, the highest in history.

Under Trump, the debt to GDP ratio declined to 103% in only 6 months.

As usual, Democraps are lecturing out their asses again.
This. ^^^^^^ We need to get rid of the RINO's in Congress. They are almost as bad as the dimoKKKRATS.

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Re: National debt explodes, surpasses 20 trillion for the first time in history.

Post by sanfordandson » Thu Sep 21, 2017 8:45 pm

David Redszus wrote:Under Obuma, the fraction of national debt to GDP rose from 88% to 106%, the highest in history.

Under Trump, the debt to GDP ratio declined to 103% in only 6 months.

As usual, Democraps are lecturing out their asses again.
Ah the age old "obama did it so its ok for trump to do it" argument.

Scary that it's all you have. So much for voting for change huh? =D>

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Re: National debt explodes, surpasses 20 trillion for the first time in history.

Post by pdq67 » Thu Sep 21, 2017 8:53 pm

As bad as I hate to say this, I don't think there is any change regardless of who is in!

pdq67

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Re: National debt explodes, surpasses 20 trillion for the first time in history.

Post by mk e » Fri Sep 22, 2017 12:33 pm

pdq67 wrote:As bad as I hate to say this, I don't think there is any change regardless of who is in!

pdq67
It's gets better and worse and usually when some get better others get worse....it rare to have most everything getting worse all at once as we have now, Rump is a very special kind of incompetent.
Mark
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Re: National debt explodes, surpasses 20 trillion for the first time in history.

Post by David Redszus » Fri Sep 22, 2017 3:53 pm

sanfordandson wrote:
David Redszus wrote:Under Obuma, the fraction of national debt to GDP rose from 88% to 106%, the highest in history.

Under Trump, the debt to GDP ratio declined to 103% in only 6 months.

As usual, Democraps are lecturing out their asses again.
Ah the age old "obama did it so its ok for trump to do it" argument.

Scary that it's all you have. So much for voting for change huh? =D>
No, there's lots, lots more.
The point you have completely missed is that things are changing rapidly under Trump.

The US GDP has increased by 3.8%, which is incredible compared to Obama who tried to crush it.

Food stamp usage has been reduced by 10.6% since Trump came on board.

The flow of illegal immigrants has dwindled even before a wall is built.

China and Mercedes Benz announced plans for billion dollar plants to be built in the US.

Concurrently, black incomes have suffered in the inner cities (even with looting) under Democrap control.

And...the end to Obamacare is not yet here nor is tax reform. When those occur, you'll see our economic growth explode.

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Re: National debt explodes, surpasses 20 trillion for the first time in history.

Post by David Redszus » Fri Sep 22, 2017 3:54 pm

sanfordandson wrote:
David Redszus wrote:Under Obuma, the fraction of national debt to GDP rose from 88% to 106%, the highest in history.

Under Trump, the debt to GDP ratio declined to 103% in only 6 months.

As usual, Democraps are lecturing out their asses again.
Ah the age old "obama did it so its ok for trump to do it" argument.

Scary that it's all you have. So much for voting for change huh? =D>
No, there's lots, lots more.
The point you have completely missed is that things are changing rapidly under Trump.

The US GDP has increased by 3.8%, which is incredible compared to Obama who tried to crush it.

Food stamp usage has been reduced by 10.6% since Trump came on board.

The flow of illegal immigrants has dwindled even before a wall is built.

China and Mercedes Benz announced plans for billion dollar plants to be built in the US.

Concurrently, black incomes have suffered in the inner cities (even with looting) under Democrap control.

And...the end to Obamacare is not yet here nor is tax reform. When those occur, you'll see our economic growth explode.

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Re: National debt explodes, surpasses 20 trillion for the first time in history.

Post by sanfordandson » Fri Sep 22, 2017 4:02 pm

David Redszus wrote: No, there's lots, lots more.
The point you have completely missed is that things are changing rapidly under Trump.

The US GDP has increased by 3.8%, which is incredible compared to Obama who tried to crush it.

Food stamp usage has been reduced by 10.6% since Trump came on board.

The flow of illegal immigrants has dwindled even before a wall is built.

China and Mercedes Benz announced plans for billion dollar plants to be built in the US.

Concurrently, black incomes have suffered in the inner cities (even with looting) under Democrap control.

And...the end to Obamacare is not yet here nor is tax reform. When those occur, you'll see our economic growth explode.
So many lies and giving credit where it isnt due...shame on you David!

I'll start with the first lie. GDP will end up around 2.1% for 2017. It has not increased by 3.8% :^o :^o :^o

Im guessing you are ok with massive debt as long as your political fantasies are fulfilled??

Wait until tax reform hits. That on top of massive defense spending you will see 25 trillion in no time.

Go trump Go!! :lol:

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Re: National debt explodes, surpasses 20 trillion for the first time in history.

Post by David Redszus » Fri Sep 22, 2017 7:33 pm

So many lies and giving credit where it isnt due...shame on you David!

I'll start with the first lie. GDP will end up around 2.1% for 2017. It has not increased by 3.8% :^o :^o :^o

Im guessing you are ok with massive debt as long as your political fantasies are fulfilled??

Wait until tax reform hits.
Shame cannot exist in a reasonable conversation; it only exists in your mind. There you go again. Point a wicked finger whenever you do not have any knowledge or data.

Show me your 2.1% data and I'll show you my 3.8% data.

A growing economy can incur more debt than can a shrinking economy. Obuma tried to shrink the economy while massively raising the debt. If you are deeply concerned about the size of the national debt, please write your Democrap congressman and ask why he has not introduced spending cut bills. Tell him how frightened you are regarding the massive debt run up by Obuma and the Democrap congress over the last 8 years and beg him to please, please introduce spending cut legislation as soon as possible.

I do have political fantasies. They involve watching all the useless social programs passed by the leftist socialists (that benefit their buddies but must be paid for by us) be undone as quickly as possible. This includes welfare without work requirements, higher taxes on business and business owners, while you lazy bums just lounge around heaven all day. And write silly posts.

Tax reform will go a long way toward economic stimulation compared to Obuma's bank loans and the Treasury's failed incentive programs. Democraps like you simply fail to understand where an improved economy comes from. It never comes from the government, only from private business with proper incentives.

You silly socialist Democraps drove trillions of dollars in business out of this country with you excessive taxes and regulations. And now you whimper like babies when someone comes along with a broom and a shovel.

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Re: National debt explodes, surpasses 20 trillion for the first time in history.

Post by sanfordandson » Sat Sep 23, 2017 12:05 am

David Redszus wrote:Show me your 2.1% data and I'll show you my 3.8% data.
Took me about 5 seconds on google to see current YTD and projected year end GDP..... #-o

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Re: National debt explodes, surpasses 20 trillion for the first time in history.

Post by Ratu » Sat Sep 23, 2017 4:25 pm

The US govt is in the hole for more than USD 200-trillion. That is the unfunded liability (at present value- it is growing) for Medicare, Medicaid and Social Security so far. Add that to the USD 20-trillion or so that you all are talking about and you can start to realise the magnitude of the problem that tax paying citizen of the USA is burdened with. It is unpayable. And so there is going to be default. So far few have discussed this, but it is going to have a disastrous effect on each of you in that your standard of living will alter sharply downwards, the expectations you have for your lives and careers (not to mention those of your children and grandchildren and great-grandchildren and great-great-grandchildren etc etc etc etc) will be reduced significantly, your retirement (assuming you can afford to retire at all) will be very much harder and the vast majority of people will find their life-span reduced (there is going to be triage with many more premature applications of Liverpool Protocol and the like).

Now the fact is, as flawed as he is President Trump is not the cause of the problem. He started to comment on some of the issues which contributed to it during his election campaigning, so perhaps he was aware of the impending crisis. Then again, perhaps he was merely engaging in cynical rhetoric in order to be elected or perhaps he sincerely held certain views but, as some alleged, got himself captured and neutered by various inside interests- who knows? Doesn't matter a whit. The collapse is baked into the economy and into the society and into the culture. It is unavoidable. It is possible that some crisis that the President walks into is going to set the crisis off and for that he will be blamed. The reality is that he is merely along for the ride and there is nothing he can do to avoid it. He can't cause it either, for its elements are already existent and the process is already well advanced. So, it can't be blamed on him in that it isn't his fault. What can be stated is that it is clear he will not do anything to ameliorate its severity or ready the nation for what is about to occur. For that it will be fair to apportion blame. Remember though, he is not the cause.

The fundamental point to understand is that you cannot have an empire, a welfare-warfare state, full of debt and expect to enjoy a good domestic life. Apart from the immorality of it, that construct is impractical. It delivers violence abroad and inevitably leads to economic penury and social perdition at home. In the end, just as the USSR collapsed, so goes the American Empire. There are parallels. They are stark and they are brutal.

There is one important detail which is going to make the crisis much worse for residents of the USA. It is the demise of the US dollar. Once the USA is no longer the world reserve currency, once it is no longer necessary to settle the vast bulk of international transaction through SWIFT by USD, then it is not possible to fund US government debt by a de facto tax on the economies of other countries and regions. Then the burden is sheeted home to fall exclusively upon the US taxpayer personally.

Meanwhile the world accelerates its rush towards becoming a multi-polar affair with the centre of power and influence scattered around the regions. As much as it is going to be painful to experience the loss of international prestige and pride, for most people the priority isn't going to be dwelling on that, it'll be keeping body and soul together to just survive.

Who will be the winners internationally? I'd pick Russia for one. Russia is interesting in that it has the opportunity to exploit the potential it has always possessed- one that generations of the British and US establishment and their politicians have desperately sought to suppress. If you understand the MacKinder World Island you'll appreciate the potential of Russia. Next pick would be China, obviously (although they are going to have to weather some real economic and social trouble along the way). Iran is likely to come out of this as an influential regional power as well. There will be some other winners, but for most, especially throughout the West, there is going to be massive loss and a complete alteration of lifestyle and even culture.

A final point. There ought to be a widespread shame amongst most of the people of the present generation in that they are leaving such a disgusting legacy of dishonour, debt, irresponsible self-indulgence, immorality and unnecessary violence for their children, grandchildren, great-grandchildren etc. There ought to be, but there isn't........... yet.

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