A Govt That Must Borrow $1T to Cover Interest on Debt, and Another $1T for Operating Costs

[eagle1462010]

Paying the interest and principle when the notes come due. Your taxes pay for it, your kids taxes will pay for it and your grandkids will pay for it and so on.

WEF will reset. Hell to follow. Our dollar is dying

 

[theHawk]

Since Jimmy Carter's paltry 208 billion deficit, how much of the debt was added by Reagan the two Bushes, and Trump compared to the amount added by Clinton, Obama and Biden?

Meh, 13.6 trillion verse about 11.4 trillion.

Congrats fellow Americans we all helped.

U.S. Debt by President: Dollar and Percentage

The national debt has increased under most U.S. presidents. Here is how much each president's time in office added to the U.S. debt by percentage and dollar amounts.

www.investopedia.com

Both sides are culpable.

That’s why we need to drain the swamp and get new blood in that are willing to make massive cuts.

We all know Dems won’t do that. Establishment GOP won’t either. Only real chance are MAGA types.

 

[g5000]

View attachment 855196
What happens when you have leadership that’s never worked a day in their lives.

Bidenomics in action. Only way out now is a violent revolution. Which at the latest will occur when this house of cards implodes.

US Debt Interest Bill Rockets Past a Cool $1 Trillion a Year

(Bloomberg) -- US Treasuries may face renewed selling pressure into the new year if one measure of the nation’s swelling debt repayment bill is any guide. Most Read from BloombergWeWork Goes Bankrupt, Signs Pact With Creditors to Cut DebtTrump's Wealth Has Jumped $500 Million Since He Left the...

finance.yahoo.com

$8 trillion of that debt is Trump's.

Funny, I can't remember you EVER whining about Trump's spending.

 

[g5000]

Gee, look who radically increased government spending as a percentage of GDP, BEFORE Covid, and then crowed about GDP growth:

 

[BlindBoo]

WEF will reset. Hell to follow. Our dollar is dying

No it's not. But a strong dollar has it's drawback.......

"The value of the US dollar has risen sharply in the second half of 2023, compared to currencies of many other countries including the British pound, the Japanese yen, and the euro.

A stronger dollar sounds like a good thing, like seeing results from all those hours you've spent in the gym. However, currency markets are not weightlifting and being strong is not without negative consequences if you're the dollar. In fact, it may be possible for the dollar to become too strong for its own good."

Why is the dollar so strong and what does it mean? | Fidelity

A strong dollar means the US's currency is doing well compared to other countries' money. Here's what that means for you.

www.fidelity.com

 

[g5000]

hey not me....i didnt help at all....

Do you take advantage of tax deductions, credits, and exemptions?

Then you helped.

Every dollar you deduct from your taxes is a dollar that is taken from someone else or is borrowed.

Mostly borrowed, because you would scream your head off if tax rates were risen high enough to pay for all those tax expenditures.

 

[Harry Dresden]

Do you take advantage of tax deductions, credits, and exemptions?

Then you helped.

Every dollar you deduct from your taxes is a dollar that is taken from someone else or is borrowed.

Mostly borrowed, because you would scream your head off if tax rates were risen high enough to pay for all those tax expenditures.

i am used to high taxes g....i lived in California.....

 

[g5000]

i am used to high taxes g....i lived in California.....

But you still take deductions, credits, and exemptions, yes?

We are all guilty of sucking on the government tit. Gimme gimme gimme and make that guy over there pay for it.

 

[Harry Dresden]

But you still take deductions, credits, and exemptions, yes?

We are all guilty of sucking on the government tit. Gimme gimme gimme and make that guy over there pay for it.

if i have to pay taxes your dam right i will take them.....but i did not support any of those guys mentioned.....

 

[eagle1462010]

But you still take deductions, credits, and exemptions, yes?

We are all guilty of sucking on the government tit. Gimme gimme gimme and make that guy over there pay for it.

BS. You dang Statist.

We pay taxes on our income. Buy a house taxed. Then taxed on its value. Then taxed at the store with inflated prices because businesses passes the tax into the price. Gas tax. Food tax

So take that suck on gov tits and stick it where the sun doesnt shine.

 

[Weatherman2020]

$8 trillion of that debt is Trump's.

Funny, I can't remember you EVER whining about Trump's spending.

 

[kyzr]

Of course we were. That's why crude oil sales plummeted in 2020, and production was cut back
None of the big companies bought a single lease. The only ones who did were hoping the big boys would come in for a share of the projects, but they never did.
It's still an import pipeline, nothing to do with our production level. Imho, Biden should have used it as a bargaining chip.
Production will continue to increase, perhaps enough to make us oil independent (at least on paper).

1. ANWR is shut down, no drilling and no new pipelines. War on energy, must end fossil fuels.
2. KeystoneXL would still add 300,000 bpd of oil and give Putin and MBS less leverage. Dumb Joe is always wrong.
3. Production will decline since the rig count is declining.

Then again they are predicting a lower demand for gas and oil so Biden may get lucky and not have a fuel shortage.

 

[Missouri_Mike]

The best way out is to pay some of the interest with cash, right off the printing press. No borrowing, no Fed Reserve. Some government contracts can also be funded this way. This will infuse the economy with equity instead of more debt.

When did just printing money ever work? If it did everyone would do it.

 

[Woodznutz]

When did just printing money ever work? If it did everyone would do it.

Try playing "Monopoly" without free startup money.