Mrs Clemenza you better not flip The mob and trump don't like ratsHave 20 k of # 64 and trump let them bring their $$$ home I still hate the vile posGood thing your crops aren't soybeans But Brooklyn has no farms that I know of And his taxcuts were BS How much have you gained ??For PC
The U.S. Debt and How It Got So Big
Five Reasons Why America Is in Debt
BY KIMBERLY AMADEO
Updated August 13, 2018
The U.S. debt is the sum of all outstanding debt owed by the federal government. It exceeded $21 trillion on March 15, 2018. The U.S. Treasury Department's "Debt to the Penny" shows the current total public debt outstanding. This figure changes everyday. The debt clock in New York also tracks it.
Two-thirds is debt held by the public. The government owes this to buyers of U.S. Treasury bills, notes, and bonds. That includes individuals, companies, and foreign governments.
The remaining third is intragovernmental debt. The Treasury owes this to its various departments who hold Government Account securities. Social Security and other trust funds are the biggest owners. They have been running surpluses for years. The federal government uses these surpluses to pay for other departments. These securities will come due as baby boomers retire over the next two decades. Since Social Security and trust funds are the largest owners, the answer as to who owns the U.S. debt the most would be: everyone’s retirement money.
in the world for a single country. It runs neck and neck with that of the European Union, an economic union of 28 countries.
The debt is greater than what America produces in a whole year. This high debt-to-gross domestic product ratio tells investors that the country might have problems repaying the loans. That's a new and worrying occurrence for the United States. In 1988, the debt was only half of America's economic output.
budget deficits. Each new program and tax cut adds to the debt. These show up in budget deficits by president. The largest deficit goes to President Obama. He added the American Recovery and Reinvestment Act stimulus package, the Obama tax cuts, and $800 billion a year in military spending. These initiatives halted the 2008 financial crisis.
Although the national debt under Obama grew the most, dollar-wise, it wasn't the biggest percentage increase. That honor goes to Franklin D. Roosevelt. He only added $236 billion, but it was a 1,048 percent increase. He did this to fight the Great Depression and prepare the United States to enter World War II.
President Bush had the second largest deficit. He also fought the financial crisis with the $700 billion bailouts. Bush added the Economic Growth and Tax Relief Reconciliation Act and the Jobs Growth and Tax Relief Reconciliation Act tax cuts to end the 2001 recession. He responded to the 9/11 attacks with the War on Terror.
President Reagan cut taxes, increased defense spending, and expanded Medicare. All these presidents also suffered from lower tax receipts resulting from recessions.
Second, every president borrows from the Social Security Trust Fund. The Fund took in more revenue than it needed through payroll taxes leveraged on baby boomers. Ideally, this money should have been invested to be available when the boomers retire. Instead, the Fund was "loaned" to the government to finance increased spending. This interest-free loan helped keep Treasury Bond interest rates low, allowing more debt financing. But it must be repaid by increased taxes when the boomers do retire.
Third, countries like China and Japan buy Treasurys to keep their currencies low relative to the dollar. They are happy to lend to America, their largest customer, so it will keep buying their exports. Even though China warns the United States to lower its debt, it continues to buy Treasuries. But China has lowered its holdings of U.S. debt.
Fourth, the U.S. government has benefited from low interest rates. It couldn't keep running budget deficits if interest rates skyrocketed like they did in Greece. Why have interest rates remained low? Purchasers of Treasury bills are confident that America has the economic power to pay them back. During the recession, foreign countries increased their holdings of Treasury bonds as a safe haven investment. These holdings went from 13 percent in 1988 to 31 percent in 2011.
Fifth, Congress raises the debt ceiling. Congress sets a limit on the debt but still increases it. That didn't happen between 2011 through 2013, though. That was because the debt crisis resulted in a government shutdown and budget sequestration. In 2015, Congress suspended the ceiling until after the 2016 presidential elections. In 2017, it raised the debt ceiling until December 8, 2017.
How the Large Debt Affects the Economy
Of course this has nothing to do with my post.....but, I can see why you'd rather ignore it.
Trump is clearly a far better steward of the economy than the boy king.
Far better at foreign policy as well,huh?
Don't worry, eddie.....I can help:
60. "US private sector added 250,000 jobs in Dec, vs estimate of 190,000: ADP
The report helped send the Dow to break the 25,000 mark for the first time."
Private sector job creation surged in December as holiday shopping boomed
61. "Hispanic unemployment at all-time low under Trump" Hispanic unemployment at all-time low under Trump
"Black Unemployment Rate Lowest in 17 Years"
Black Unemployment Rate Lowest in 17 Years
Maybe you remember this nightmare:
Tavis Smiley: 'Black People Will Have Lost Ground in Every Single Economic Indicator' Under Obama
http://newsbusters.org/blogs/noel-s...st-ground-every-single-economic#ixzz2hihAOpVl
62."Customers Get A Break As Utilities' Tax Bill Drops
Tax savings for the industry are expected to be substantial. The Penn Wharton Budget Model at the University of Pennsylvania said utilities will pay $1.1 billion less in taxes this year than if the law had not been enacted, $1.9 billion less in 2019 and more than $5 billion less in 2020.
Numerous state regulatory agencies in the U.S. are similarly cutting rates to reflect lower taxes."
Customers Get A Break As Utilities' Tax Bill Drops
63. "U.S. Manufacturing Output Rose in December for Fourth Month
...the strongest quarter since 2010 and underscoring a resurgence in manufacturing that’s primed for further advances, Federal Reserve data showed Wednesday.
Factory output increased at a 7 percent annualized rate in the fourth quarter,..."
U.S. Manufacturing Output Rose in December for Fourth Month
This....since we got rid of that dead weight President, Hussein
What happens when you kick out the tax-and-spend Democrats?
This:
64. "It looks like Apple is bringing back home nearly all of its $250 billion in foreign cash
- Apple "anticipates repatriation tax payments of approximately $38 billion as required by recent changes to the tax law. A payment of that size would likely be the largest of its kind ever made," the company said."
- It looks like Apple is bringing back home nearly all of its $250 billion in foreign cash
Trump.....unbelievable!!!!
He won again!!!!
65. "China's Xi Jinping says tariffs on car imports will be cut this year
Chinese President Xi Jinping on Tuesday said his government would "significantly lower" tariffs on vehicle imports this year as part of efforts to further open its giant economy to the world.
The pledge addresses one of the gripes of US President Donald Trump, who has threatened to impose new tariffs on $150 billion of Chinese goods in a trade dispute between the world's two largest economies. Experts cautioned, though, that Xi's comments may not do much to resolve the conflict, which has rocked markets in recent weeks."
China's Xi Jinping says tariffs on car imports will be cut this year
No wonder the Left hates him!!!!!!
66. Can you imagine the ticker-tape parades if Hussein had had these achievements??????
"Jobless claims rise modestly; Americans receiving unemployment aid lowest since 1973
- Weekly jobless claims increased less than expected last week and the number of Americans receiving unemployment aid fell to its lowest level since 1973
- Economists polled by Reuters had forecast claims rising to 225,000 in the latest week.
- The four-week moving average of initial claims fell to the lowest level since March 1973." Jobless claims rise modestly; Americans receiving unemployment aid lowest since 1973
67. Hispanic-Latino Unemployment Rate Hits Lowest Level on Record in June Hispanic-Latino Unemployment Rate Hits Lowest Level on Record in June
68. “GREAT AGAIN: More Jobs than WORKERS for the First Time In US HISTORY” GREAT AGAIN: More Jobs than WORKERS for the First Time In US HISTORY | Sean Hannity
69. "Dow surges more than 150 points in sudden move after Trump reportedly gets concessions from EU to avoid a trade war"
Dow surges more than 150 points after Trump reportedly gets concessions from EU to avoid a trade war
70. "U.S. Growth Hits 4.1%, Fastest Since 2014, in Win for Trump"
Terms of Service Violation
“We are now on track to reach GDP annual growth of over 3%... Each point, by the way, means approximately $3 trillion and 10 million jobs,” @POTUS says https://cbsn.ws/2JZ4YIt
CBS News on Twitter
71. "Pence and other Trump enthusiasts can point to increasing macroeconomic growth. Growth rose 4.1 percent in the second quarter and is up more than 3 percent for the year. Unemployment was down to 3.9 percent in July. The S&P 500 stock index is up 6 percent since the Trump presidency, while the rest of the world's stock markets are down 6 percent. These are numbers any recent administration would boast about.
More notable are positive trends among subgroups that weren't doing so well before Trump took office. Former Obama administration chief economic adviser Jason Furman, writing for Vox, notes that in the past three years "recent wage growth ... at the low end of the wage scale" is stronger than growth among the higher-paid. Similarly, Bloomberg columnist and portfolio manager Conor Sen makes the point that job growth has been greatest among "goods-producing workers and the least-educated workers."
Michael Barone - Has Trump Delivered on His Economic Promises?
72. “Atlanta Fed predicts 5% jump in economic growth for third quarter The central bank district estimates that GDP will increase 5 percent for the July-to-September period, according to an update posted Wednesday.
If the forecast is accurate, it will come on top of a strong 4.1 percent second quarter…” Atlanta Fed predicts 5% jump in economic growth for third quarter
Let me know if you need more anodyne.....
I just wanted to prove that your hatred of the President is irrational.
And, we've done that, haven't we.