America's national debt

[Moonglow]

 

[YoursTruly]

Should America, and no doubt other countries, bring a law in that the current President/Prime Minister/party etc.. must leave office with balanced books, meaning, they can't add to the current debt level. But from the start due to the level of national debt, the debt must decrease X amount each year till eventually all debt is wiped.

So in America's case, the debt has to fall $1tr a year, so that's 4 trillion per president term.

The only exception is the cost of a war can be added.

The government should only borrow from the fed in cases of national emergencies. During Trump, he signed bills that funded gender studies in Pakistan and Afghanistan. Gave $500 BILLION to black communities, just because they were black communities.
I can't imagine the pork that's been put into some of Bidens spending bills.
It looks as though Biden is going to beat Trumps $8 trillion spending record.

 

[YoursTruly]

Every president since has proved they do matter. The USD, just since Reagan, has lost 75% of it's buying power. $15 hr is now a poverty wage here. While is an upper middle class wage in 80% of the rest of the world.

 

[Woodznutz]

Chart if accurate shows that debt/gdp ratio can be changed pretty fast.

 

[Moonglow]

Every president since has proved they do matter. The USD, just since Reagan, has lost 75% of it's buying power. $15 hr is now a poverty wage here. While is an upper middle class wage in 80% of the rest of the world.

Gotta love them rich bitches who do it to us.

 

[Moonglow]

Chart if accurate shows that debt/gdp ratio can be changed pretty fast.

Indeed it can if discipline is used.

 

[Moonglow]

You do know that if the govt. doesn't borrow or spend the capitalistic venture will collapse?

 

[Woodznutz]

Indeed it can if discipline is used.

Which will need to include everyone, even the poor.

 

[YoursTruly]

You do know that if the govt. doesn't borrow or spend the capitalistic venture will collapse?

It wouldn't collapse at all. Inflation would slowly fall as the value of the USD would actually rise. Money would go further. People would buy more stuff. This is how the economy works.

One of the biggest lies a politician tells is that tax cuts will help people keep more money in their pockets. That in itself is true. But when people like Trump take office and signs a tax cut bill, and then borrows trillions that devalues existing currency, it makes the economy even worse off than had they just left it alone.

Down in Texas a few years ago. Greg Abbott signed a property tax decrease bill into law. Then bragged about it. People thought he was a hero. That is until property owners found out that the state made all their appraisers increase (double and sometimes even triple) the citizens property values. So they ended up paying way more in property taxes.

But did the property owners blame Abbott? Or course not. The local appraisers got the blame.

The point. If you inject a ton of money into the economy, it makes the existing money worth a lot less. Trump got the praise for the tax cuts. But his minions didn't understand what all of Trumps (and no Bidens) borrowing did to the money they had in their pockets.

 

[Moonglow]

It wouldn't collapse at all. Inflation would slowly fall as the value of the USD would actually rise. Money would go further. People would buy more stuff. This is how the economy works.

One of the biggest lies a politician tells is that tax cuts will help people keep more money in their pockets. That in itself is true. But when people like Trump take office and signs a tax cut bill, and then borrows trillions that devalues existing currency, it makes the economy even worse off than had they just left it alone.

Down in Texas a few years ago. Greg Abbott signed a property tax decrease bill into law. Then bragged about it. People thought he was a hero. That is until property owners found out that the state made all their appraisers increase (double and sometimes even triple) the citizens property values. So they ended up paying way more in property taxes.

But did the property owners blame Abbott? Or course not. The local appraisers got the blame.

Corporations need that support of cash from the Federal Reserve.

 

[YoursTruly]

Corporations need that support of cash from the Federal Reserve.

They can get it from their customers.

 

[gipper]

Should America, and no doubt other countries, bring a law in that the current President/Prime Minister/party etc.. must leave office with balanced books, meaning, they can't add to the current debt level. But from the start due to the level of national debt, the debt must decrease X amount each year till eventually all debt is wiped.

So in America's case, the debt has to fall $1tr a year, so that's 4 trillion per president term.

The only exception is the cost of a war can be added.

Not a bad idea except for the exception. One can never give politicians an exception.

 

[White 6]

Should America, and no doubt other countries, bring a law in that the current President/Prime Minister/party etc.. must leave office with balanced books, meaning, they can't add to the current debt level. But from the start due to the level of national debt, the debt must decrease X amount each year till eventually all debt is wiped.

So in America's case, the debt has to fall $1tr a year, so that's 4 trillion per president term.

The only exception is the cost of a war can be added.

I would like to see America's Debt gone, in theory as debt is never a good thing. At the same time, I look at dept, how it is financed and who own it, along with how much it costs. Majority is finance by Treasury Securities and the vast majority is owned by The Fed and other US Government, along with mutual funds, depository institutions, State and local government, other investors, private pension funds, insurance companies, and savings bond holders. So meet the main creditor and it is us, percentagewise, somewhere in the neighborhood of 74%, so to a great extent, the public debt is also the public credit. Who we owe it to is important. I buy my own debt primarily from me, secured by my own assets at 2% or less. I have large credit line cards, but at much higher interest rates. Those are paid off monthly to avoid interest. Presently, I don't have any debt, but that is just me. In my thirties, on occasion for something big, I borrowed from my 401K, paying back at amount plus 10%, but that 10% went back into my account, my private debt becoming my private credit with 10% interest. I look at National Debt similarly, only I am not the one deciding what that debt finances, at least not by myself, still paying attention to how much the debt costs. Here is a graph or two for the visual minded:

Holders of U.S. government debt 2022 | Statista

At the end of 2022, depository institutions owned around 5.46 percent of the total U.S.

www.statista.com

About 26% is owned by foreign governments, the larges foreign owner being Japan, with about $1.08 Trillion Dollars, followed by China $870 Billion, U.K. $645.8 Billion and Luxembourg $332.9.
Japan owned $1.08 trillion in U.S. Treasurys in November 2022, making it the largest foreign holder of the national debt. The second-largest holder is China, which owned $870 billion of U.S. debt. Both Japan and China want to keep the value of the dollar higher than the value of their own currencies. This helps to keep their exports to the U.S. affordable, which helps their economies grow.9

China replaced the U.K. as the second-largest foreign holder in 2006 when it increased its holdings to $699 billion.10

The U.K. is the third-largest holder with $645.8 billion. Its holdings have increased in rank as Brexit continues to weaken its economy. Luxembourg is next, holding $332.9 billion.9

Who Owns the US National Debt?

The majority of the U.S. national debt is owned by Social Security, the Federal Reserve, and foreign investors. Learn how that impacts the economy and you.

www.thebalancemoney.com

Like I said in the beginning, in theory I would like to see the debt gone, but am I highly excited or losing sleep over it? NO.

5 facts about the U.S. national debt

As concern about federal spending rises among both Democrats and Republicans, here's a primer on the national debt of the United States.

www.pewresearch.org

 

[Jessica-stormlover]

Good luck paying it down if we don't lead in science, tech or literally anything anymore because we stop investing in such. Good luck getting the product to market without good roads and bridges to moves shit over! Good luck being competing with china without a first rate educational system and the entire population becomes as retarded as somalia or the sudan.

You see. To be a first rate nation it cost money but like my dad use to tell me...It takes money to make money. That is reality.

Cutting and slashing our investments would end up growing our debt alot more and enhancing its effect on our economy.

 

[BluesLegend]

Stop worrying about debt. We can go on borrowing and spending more than we take in forever, right. #SARCASM

 

[YoursTruly]

Having a debt means you have credit. I have only a couple of credit cards I used from time to time, just to keep them. I sometimes only pay the minimum, but 99% of the time, I pay what's owed before any interest charges show up.
This is how our government should be. We need a back up (the Federal Reserve), but we don't need to live on it or rack up the debt so high that we're only paying the interest.

 

[BluesLegend]

Like douchebags, we are sticking the next many generations with OUR debt while we live high on the hog.

 

[White 6]

Like douchebags, we are sticking the next many generations with OUR debt while we live high on the hog.

Then you should be good with it, without hesitation as you are a self proclaimed member of the trump army. Here is what your chosen lead says about debt:
“I’m the king of debt. I’m great with debt. Nobody knows debt better than me,” Trump told Norah O’Donnell in an interview that aired on “CBS This Morning.” “I’ve made a fortune by using debt, and if things don’t work out I renegotiate the debt. I mean, that’s a smart thing, not a stupid thing.”

 

[22lcidw]

You gotta be kidding. And of course, leaving the social programs on the Prog agenda levels. Do you also show the size of the federal government in this graph. And the state, local and city governments are worse. In the early 1960's the Federal budget was five hundred billion dollars or so. It is now 6.25 trillion dollars. A lot of people are getting checks and benefits in that. A Prog and his statistics. Always with the ledgers and books to make them look good. Take the pain and freeze government pensions and benefits for a few years or more. Stop the corrupted contractors. Stop hiring more and more government employees. And if they really want to help things, wrest away and take control of the Federal Reserve from private bankers who own it and give the ownership to the citizens of our nation through the government.

 

[Moonglow]

You gotta be kidding. And of course, leaving the social programs on the Prog agenda levels. Do you also show the size of the federal government in this graph. And the state, local and city governments are worse. In the early 1960's the Federal budget was five hundred billion dollars or so. It is now 6.25 trillion dollars. A lot of people are getting checks and benefits in that. A Prog and his statistics. Always with the ledgers and books to make them look good. Take the pain and freeze government pensions and benefits for a few years or more. Stop the corrupted contractors. Stop hiring more and more government employees. And if they really want to help things, wrest away and take control of the Federal Reserve from private bankers who own it and give the ownership to the citizens of our nation through the government.

It is rather easy to decipher what IS on the graph.