U.S. national debt tops $22 trillion

[jacksmar]

https://www.cbsnews.com/news/us-national-debt-tops-22-trillion-for-first-time-in-history/

The U.S. national debt has topped $22 trillion for the first time in history, according to daily figures released by the Treasury Department on Tuesday.

The debt has ballooned by more than $2 trillion in the two years since President Trump took office in January 2017, when the debt stood at $19.9 trillion. It surpassed $21 trillion for the first time in history in March 2018. Under the Obama administration, the national debt grew from $10.6 trillion to $19.9 trillion, an increase that drew sharps criticism from Republicans.

In an interview with the Washington Post in 2016, Mr. Trump vowed to eliminate the national debt "over a period of eight years." Top White House economic adviser Larry Kudlow, who joined the White House after the president said he would eliminate the debt, told CBS News last month Mr. Trump probably didn't mean he would eliminate the debt entirely.

"I don't know, you know, I wasn't there, I read about some of this — I think what he was really referring to was he would stop the upward rise as a burden on the economy," Kudlow said in January. "In other words, to me, the measure is not, what is the deficit or this or that. It's as a share of GDP. That's your burden on the economy. And I would argue that it is and will continue to come down as a burden on the economy."

But the ratio of debt-to-GDP has also increased, something that's unusual in a strong economy. In June 2018, the Congressional Budget Office said in a report that the level of debt as a share of GDP had reached its highest levels since World War II.

[jacksmar]

Somebody can check my math on this. After ciphering this "simple arithmetic" the total each year now is about $375 billion. That amount comes to about $1 billion per person.

And that makes me laugh at everyone; from the poor hadn't eaten in 6 days, no heat, no hot water, old lady in Detroit to the Michael Dell's with two or more domiciles, multiple vehicles, and far flung business enterprises.

I'll wait patiently and appreciatively for the usual trolls and the "my side" sycophants to respond. Left or right or independents, et all...

[Nitro Express]

We have been doubling our debt every eight years and both parties are at fault and partisan blaming and bickering doesn’t solve a damn thing. That’s the government. Now the problem is bigger than just the government most Americans live paycheck to paycheck and this includes the more wealthy Americans. They just have more stuff but they have no savings other than what equity they have in their real estate. We have the baby boomers heading for retirement with nothing to retire on and Illinois is now officially bankrupt. They will have to claim bankruptcy which no state has done before and of course beg the federal government for a bailout. Well the federal government is to the point where it’s going to have to cut spending or we default on our interest payments on the debt. The US just can’t claim bankruptcy because we have the world’s reserve currency. Defaulting on our debt means the US Dollar goes to shit and people would leave the US dollar if there was another option but every other currency is just as bad or worse. What the US had to sell the world was political stability. It’s why other countries parked their gold here. Chances were better that the US government would still be functioning when theirs had changed. Well we ain’t exactly stable anymore and some are wondering if the US will break apart. So that is where we are and nobody see’s a soft landing. You only can kick the can down the road for so long and when the whip does finally come down there will be lots of finger pointing and blame and then homicides and suicides and we hit rock bottom and people will be living in a bigger hell than they ever imagined and maybe the people who blew their brains outs were the smart ones. Enjoy!

[Seshmeister]

Somebody can check my math on this. After ciphering this "simple arithmetic" the total each year now is about $375 billion. That amount comes to about $1 billion per person.
.

I checked your math and it is spectacularly bad. 😀

[Nickdfresh]

Somebody can check my math on this. After ciphering this "simple arithmetic" the total each year now is about $375 billion. That amount comes to about $1 billion per person.

And that makes me laugh at everyone; from the poor hadn't eaten in 6 days, no heat, no hot water, old lady in Detroit to the Michael Dell's with two or more domiciles, multiple vehicles, and far flung business enterprises.

I'll wait patiently and appreciatively for the usual trolls and the "my side" sycophants to respond. Left or right or independents, et all...

Jesus dude, lay off the cheap vodka...

[FORD]

Jesus dude, lay off the cheap vodka...

Probably does what Sockfucker used to admit to doing... he bought rubbing alcohol at Big Lots and thought it was vodka. :beers:

[Kristy]

Somebody can check my math on this. After ciphering this "simple arithmetic" the total each year now is about $375 billion. That amount comes to about $1 billion per person.

And that makes me laugh at everyone; from the poor hadn't eaten in 6 days, no heat, no hot water, old lady in Detroit to the Michael Dell's with two or more domiciles, multiple vehicles, and far flung business enterprises.



I'll wait patiently and appreciatively for the usual trolls and the "my side" sycophants to respond. Left or right or independents, et all...


For the last time, you F A T twerp, no one and I mean NO ONE gives a shit about the fucking debt EXCEPT the psychopathic and sociopathic billionaires (and a few millionaires) who see it as an obfuscation that keeps them from making more billions.

Also, everyone here knows you can't do math. You can't even read a god damn book.

[Kristy]

We have been doubling our debt every eight years and both parties are at fault and partisan blaming and bickering doesn’t solve a damn thing. That’s the government. Now the problem is bigger than just the government most Americans live paycheck to paycheck and this includes the more wealthy Americans. They just have more stuff but they have no savings other than what equity they have in their real estate. We have the baby boomers heading for retirement with nothing to retire on and Illinois is now officially bankrupt. They will have to claim bankruptcy which no state has done before and of course beg the federal government for a bailout. Well the federal government is to the point where it’s going to have to cut spending or we default on our interest payments on the debt. The US just can’t claim bankruptcy because we have the world’s reserve currency. Defaulting on our debt means the US Dollar goes to shit and people would leave the US dollar if there was another option but every other currency is just as bad or worse. What the US had to sell the world was political stability. It’s why other countries parked their gold here. Chances were better that the US government would still be functioning when theirs had changed. Well we ain’t exactly stable anymore and some are wondering if the US will break apart. So that is where we are and nobody see’s a soft landing. You only can kick the can down the road for so long and when the whip does finally come down there will be lots of finger pointing and blame and then homicides and suicides and we hit rock bottom and people will be living in a bigger hell than they ever imagined and maybe the people who blew their brains outs were the smart ones. Enjoy!


You definitely don't have a MBA and you sure as shit don't know a fucking thing about basic economics.

[jacksmar]

Wow. I waited on this only to get nothing except my math is incorrect.

https://www.fiscal.treasury.gov/files/reports-statements/mts/mts1218.pdf

This will be very confusing to most here because these are actual numbers. Not political "facts".

Well, let's see your arithmetic...

[Kristy]

Do the math on this one:

https://youtu.be/QJmBRP1NUpM