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Donald Trump has achieved another biggest ever number. The national debt now, 2019, $ 22.5 Trillion and accelerating. Donald Trump will keep achieving record numbers for national debt with a new higher number for every year of Donald Trump's tenure.
Donald Trump cannot roll back any of his tax reductions because it will cause a fall in the stock market, especially corporate tax.
This is monstrous that US debt is rising faster than the economy.
Donald Trump was gifted a rising economy and low unemployment from Barak Obama and Donald Trump is now driving the US economy towards a recession with the rate of debt increase faster than the economic growth rate.
The whole basis of the Trump US economic rise is an illusion pumped by blather and bluster whereas the real facts are that wages are not rising faster than costs and the jobs created were mostly minimum wage service jobs.
Government debt is rising and the rate of rise of debt is increasing which will eventually lead to interest payments becoming the biggest budget item.
If there is a recession it could be devastating as the government is already mired in burgeoning budget deficits which will only grow larger in a recession.
The article below is from 2018, however, the current situation is even more serious than it was then.
The US' national debt is rising 36% faster than the economy
... The US' national debt is rising 36% faster than the economy
Simon Black, Sovereign Man Mar. 21, 2018, 5:43 PM
The national debt is rising 36% faster than the US economy.
The US now owes more than $21 trillion.
In a single day last week, from Thursday to Friday, the national debt grew by $73 billion.
Well, it happened again.
On Friday afternoon, the national debt of the United States hit another major milestone, soaring past $21 trillion for the first time ever.
Clearly that is an enormous number… it's actually larger than the size of the entire US economy, which is pretty incredible.
But what's always been the more important story about America's pile of debt is how rapidly it's growing.
For example, in the span of a SINGLE DAY, from Thursday to Friday, the national debt grew by $73 BILLION. In a day.
To put that number in context, $73 billion is larger than the size of most major companies like General Motors, Ford, and Southwest Airlines.
And in the month of February alone, the national debt grew by an astounding $215 billion.
$215 billion is larger than the GDP of New Zealand. Greece. Oregon. More than twice the size of the GDP of New Mexico. Just in a single month.
Most disturbingly, the national debt has grown by more than $1 TRILLION… just in the last SIX MONTHS.
I'm scratching my head right now wondering- where did they spend all that money? Was there a major economic crisis, wave of bank failures, or severe depression that required massive fiscal stimulus?
Nope. It was just business as usual.
Even better, the economy was supposedly doing totally awesome over the last six months.
And yet, even with all that positivity, the government still managed to rack up an extra trillion dollars in debt.
Amazing.
One important point to make is that debt growth is VASTLY outpacing GDP growth. And this is critical to understand.
Last year, for example, the US economy grew by 2.5% in 'real' terms, i.e. stripping out inflation.
Even if you include inflation in the calculation, the size of the US economy increased by 4.4%. Yet the national debt grew by 6%.
Now that might not seem like a big difference. But it is. On a proportional basis, the national debt expanded 36% faster than the US economy (even if you include inflation).
Over the course of several years, that effect compounds into something that's quite nasty.
At the end of 2008, for example, the size of the US economy was $14.5 trillion. A decade later, the size of the economy is $19.7 trillion, 36% greater.
Yet over the past ten years, the national debt has grown from $9.4 trillion to over $21 trillion- a growth rate of 123%!
It's really, really hard to pretend that this is good news.
But that doesn't stop people from trying.
We're constantly being told the same old nonsense that "the debt doesn't matter" because we owe it to ourselves.
And, sure, it's true that the US government owes a lot of this money to various institutions across America. Like Social Security. Or the US banking system. Or the Federal Reserve.
I find it difficult to see the good news here… as if it would somehow be beneficial to default on (and hence bankrupt) Social Security. Or the US banking system. Or the Federal Reserve.
Doing so would cause the most drastic financial cataclysm ever before seen in the United States.
Reagan is IMO the 'father' of the modern run your nation into the ground with deficit spending POTUS.
The whole concept of massive deficit spending in the modern age accelerated EXPONENTIALLY during Reagan's tenure.
There are plenty of reasons to question why so many Americans consider Reagan to be such a good POTUS but of the issue of deficit spending alone, Reagan was a fucking unmitigated DISASTER.
Reagan also ushered in the modern era of destroying American trade & worker unions but that is a whole different can of worms.
Trump is the self proclaimed 'king of debt' but Trump took advantage of bankruptcy laws & then eventually Saudi, Russian, and German banks to navigate fucking over his creditors, and many others.
The fact remains that as POTUS Trump is placing public debt upon the US at a record pace; there is no debating that point.
Trump's tax cuts for the wealthiest 1% and for the corporations resulted in a LOSS of tax receipts that is resulting in increased record deficits & increased record public debt.
This is occurring in a time frame in which we are being told the, "economy is the best ever" by Trump and by many others.
IF the economy is so great then why in Hell aren't we as a nation paying down the national debt?
Trump is a LIAR, a lying sac of shit.
There is no other way to explain the abomination that is Trump.
Keep believing those LIES folks. You know you love it.
Donald Trump has achieved another biggest ever number. The national debt now, 2019, $ 22.5 Trillion and accelerating. Donald Trump will keep achieving record numbers for national debt with a new higher number for every year of Donald Trump's tenure.
Donald Trump cannot roll back any of his tax reductions because it will cause a fall in the stock market, especially corporate tax.
This is monstrous that US debt is rising faster than the economy.
Donald Trump was gifted a rising economy and low unemployment from Barak Obama and Donald Trump is now driving the US economy towards a recession with the rate of debt increase faster than the economic growth rate.
The whole basis of the Trump US economic rise is an illusion pumped by blather and bluster whereas the real facts are that wages are not rising faster than costs and the jobs created were mostly minimum wage service jobs.
Government debt is rising and the rate of rise of debt is increasing which will eventually lead to interest payments becoming the biggest budget item.
If there is a recession it could be devastating as the government is already mired in burgeoning budget deficits which will only grow larger in a recession.
The article below is from 2018, however, the current situation is even more serious than it was then.
The US' national debt is rising 36% faster than the economy
... The US' national debt is rising 36% faster than the economy
Simon Black, Sovereign Man Mar. 21, 2018, 5:43 PM
The national debt is rising 36% faster than the US economy.
The US now owes more than $21 trillion.
In a single day last week, from Thursday to Friday, the national debt grew by $73 billion.
Well, it happened again.
On Friday afternoon, the national debt of the United States hit another major milestone, soaring past $21 trillion for the first time ever.
Clearly that is an enormous number… it's actually larger than the size of the entire US economy, which is pretty incredible.
But what's always been the more important story about America's pile of debt is how rapidly it's growing.
For example, in the span of a SINGLE DAY, from Thursday to Friday, the national debt grew by $73 BILLION. In a day.
To put that number in context, $73 billion is larger than the size of most major companies like General Motors, Ford, and Southwest Airlines.
And in the month of February alone, the national debt grew by an astounding $215 billion.
$215 billion is larger than the GDP of New Zealand. Greece. Oregon. More than twice the size of the GDP of New Mexico. Just in a single month.
Most disturbingly, the national debt has grown by more than $1 TRILLION… just in the last SIX MONTHS.
I'm scratching my head right now wondering- where did they spend all that money? Was there a major economic crisis, wave of bank failures, or severe depression that required massive fiscal stimulus?
Nope. It was just business as usual.
Even better, the economy was supposedly doing totally awesome over the last six months.
And yet, even with all that positivity, the government still managed to rack up an extra trillion dollars in debt.
Amazing.
One important point to make is that debt growth is VASTLY outpacing GDP growth. And this is critical to understand.
Last year, for example, the US economy grew by 2.5% in 'real' terms, i.e. stripping out inflation.
Even if you include inflation in the calculation, the size of the US economy increased by 4.4%. Yet the national debt grew by 6%.
Now that might not seem like a big difference. But it is. On a proportional basis, the national debt expanded 36% faster than the US economy (even if you include inflation).
Over the course of several years, that effect compounds into something that's quite nasty.
At the end of 2008, for example, the size of the US economy was $14.5 trillion. A decade later, the size of the economy is $19.7 trillion, 36% greater.
Yet over the past ten years, the national debt has grown from $9.4 trillion to over $21 trillion- a growth rate of 123%!
It's really, really hard to pretend that this is good news.
But that doesn't stop people from trying.
We're constantly being told the same old nonsense that "the debt doesn't matter" because we owe it to ourselves.
And, sure, it's true that the US government owes a lot of this money to various institutions across America. Like Social Security. Or the US banking system. Or the Federal Reserve.
I find it difficult to see the good news here… as if it would somehow be beneficial to default on (and hence bankrupt) Social Security. Or the US banking system. Or the Federal Reserve.
Doing so would cause the most drastic financial cataclysm ever before seen in the United States.
Reagan is IMO the 'father' of the modern run your nation into the ground with deficit spending POTUS.
The whole concept of massive deficit spending in the modern age accelerated EXPONENTIALLY during Reagan's tenure.
There are plenty of reasons to question why so many Americans consider Reagan to be such a good POTUS but of the issue of deficit spending alone, Reagan was a fucking unmitigated DISASTER.
Reagan also ushered in the modern era of destroying American trade & worker unions but that is a whole different can of worms.
Trump is the self proclaimed 'king of debt' but Trump took advantage of bankruptcy laws & then eventually Saudi, Russian, and German banks to navigate fucking over his creditors, and many others.
The fact remains that as POTUS Trump is placing public debt upon the US at a record pace; there is no debating that point.
Trump's tax cuts for the wealthiest 1% and for the corporations resulted in a LOSS of tax receipts that is resulting in increased record deficits & increased record public debt.
This is occurring in a time frame in which we are being told the, "economy is the best ever" by Trump and by many others.
IF the economy is so great then why in Hell aren't we as a nation paying down the national debt?
Trump is a LIAR, a lying sac of shit.
There is no other way to explain the abomination that is Trump.
Keep believing those LIES folks. You know you love it.
IF the economy is so great then why in Hell aren't we as a nation paying down the national debt?
Good question. Why is Congress increasing spending constantly? If DJT gets second term, I suppose he will have to do something on debt-spending and you will howl and bark. Congress is proven useless with DEMS and RINO Ryan Bohener etc.
He is getting fat Euro countries to pay more of their provided Defense, getting Fair Trade. Why are DEMs not signing off USMCA?
No European country has yet started spending more on the military. They have just siad they would. Talk is cheap.
You drips who remained silent when the debt doubled between '09 - '16 can quit pretending that you GAF about debt and deficits any day now....It rings hollow as can be.Donald Trump has achieved another biggest ever number. The national debt now, 2019, $ 22.5 Trillion and accelerating. Donald Trump will keep achieving record numbers for national debt with a new higher number for every year of Donald Trump's tenure.
Donald Trump cannot roll back any of his tax reductions because it will cause a fall in the stock market, especially corporate tax.
This is monstrous that US debt is rising faster than the economy.
Donald Trump was gifted a rising economy and low unemployment from Barak Obama and Donald Trump is now driving the US economy towards a recession with the rate of debt increase faster than the economic growth rate.
The whole basis of the Trump US economic rise is an illusion pumped by blather and bluster whereas the real facts are that wages are not rising faster than costs and the jobs created were mostly minimum wage service jobs.
Government debt is rising and the rate of rise of debt is increasing which will eventually lead to interest payments becoming the biggest budget item.
If there is a recession it could be devastating as the government is already mired in burgeoning budget deficits which will only grow larger in a recession.
The article below is from 2018, however, the current situation is even more serious than it was then.
The US' national debt is rising 36% faster than the economy
... The US' national debt is rising 36% faster than the economy
Simon Black, Sovereign Man Mar. 21, 2018, 5:43 PM
The national debt is rising 36% faster than the US economy.
The US now owes more than $21 trillion.
In a single day last week, from Thursday to Friday, the national debt grew by $73 billion.
Well, it happened again.
On Friday afternoon, the national debt of the United States hit another major milestone, soaring past $21 trillion for the first time ever.
Clearly that is an enormous number… it's actually larger than the size of the entire US economy, which is pretty incredible.
But what's always been the more important story about America's pile of debt is how rapidly it's growing.
For example, in the span of a SINGLE DAY, from Thursday to Friday, the national debt grew by $73 BILLION. In a day.
To put that number in context, $73 billion is larger than the size of most major companies like General Motors, Ford, and Southwest Airlines.
And in the month of February alone, the national debt grew by an astounding $215 billion.
$215 billion is larger than the GDP of New Zealand. Greece. Oregon. More than twice the size of the GDP of New Mexico. Just in a single month.
Most disturbingly, the national debt has grown by more than $1 TRILLION… just in the last SIX MONTHS.
I'm scratching my head right now wondering- where did they spend all that money? Was there a major economic crisis, wave of bank failures, or severe depression that required massive fiscal stimulus?
Nope. It was just business as usual.
Even better, the economy was supposedly doing totally awesome over the last six months.
And yet, even with all that positivity, the government still managed to rack up an extra trillion dollars in debt.
Amazing.
One important point to make is that debt growth is VASTLY outpacing GDP growth. And this is critical to understand.
Last year, for example, the US economy grew by 2.5% in 'real' terms, i.e. stripping out inflation.
Even if you include inflation in the calculation, the size of the US economy increased by 4.4%. Yet the national debt grew by 6%.
Now that might not seem like a big difference. But it is. On a proportional basis, the national debt expanded 36% faster than the US economy (even if you include inflation).
Over the course of several years, that effect compounds into something that's quite nasty.
At the end of 2008, for example, the size of the US economy was $14.5 trillion. A decade later, the size of the economy is $19.7 trillion, 36% greater.
Yet over the past ten years, the national debt has grown from $9.4 trillion to over $21 trillion- a growth rate of 123%!
It's really, really hard to pretend that this is good news.
But that doesn't stop people from trying.
We're constantly being told the same old nonsense that "the debt doesn't matter" because we owe it to ourselves.
And, sure, it's true that the US government owes a lot of this money to various institutions across America. Like Social Security. Or the US banking system. Or the Federal Reserve.
I find it difficult to see the good news here… as if it would somehow be beneficial to default on (and hence bankrupt) Social Security. Or the US banking system. Or the Federal Reserve.
Doing so would cause the most drastic financial cataclysm ever before seen in the United States.
Obama increased debt to rescue the economy which was trashed by George W Bush and the GOP.
Donald Trump's actions are for his personal enrichment and the enrichment of Donald Trump assoicates.
/—-/ DemocRATs lined up to vote for Reagan’s budget. Ain’t ya proud?Donald Trump has achieved another biggest ever number. The national debt now, 2019, $ 22.5 Trillion and accelerating. Donald Trump will keep achieving record numbers for national debt with a new higher number for every year of Donald Trump's tenure.
Donald Trump cannot roll back any of his tax reductions because it will cause a fall in the stock market, especially corporate tax.
This is monstrous that US debt is rising faster than the economy.
Donald Trump was gifted a rising economy and low unemployment from Barak Obama and Donald Trump is now driving the US economy towards a recession with the rate of debt increase faster than the economic growth rate.
The whole basis of the Trump US economic rise is an illusion pumped by blather and bluster whereas the real facts are that wages are not rising faster than costs and the jobs created were mostly minimum wage service jobs.
Government debt is rising and the rate of rise of debt is increasing which will eventually lead to interest payments becoming the biggest budget item.
If there is a recession it could be devastating as the government is already mired in burgeoning budget deficits which will only grow larger in a recession.
The article below is from 2018, however, the current situation is even more serious than it was then.
The US' national debt is rising 36% faster than the economy
... The US' national debt is rising 36% faster than the economy
Simon Black, Sovereign Man Mar. 21, 2018, 5:43 PM
The national debt is rising 36% faster than the US economy.
The US now owes more than $21 trillion.
In a single day last week, from Thursday to Friday, the national debt grew by $73 billion.
Well, it happened again.
On Friday afternoon, the national debt of the United States hit another major milestone, soaring past $21 trillion for the first time ever.
Clearly that is an enormous number… it's actually larger than the size of the entire US economy, which is pretty incredible.
But what's always been the more important story about America's pile of debt is how rapidly it's growing.
For example, in the span of a SINGLE DAY, from Thursday to Friday, the national debt grew by $73 BILLION. In a day.
To put that number in context, $73 billion is larger than the size of most major companies like General Motors, Ford, and Southwest Airlines.
And in the month of February alone, the national debt grew by an astounding $215 billion.
$215 billion is larger than the GDP of New Zealand. Greece. Oregon. More than twice the size of the GDP of New Mexico. Just in a single month.
Most disturbingly, the national debt has grown by more than $1 TRILLION… just in the last SIX MONTHS.
I'm scratching my head right now wondering- where did they spend all that money? Was there a major economic crisis, wave of bank failures, or severe depression that required massive fiscal stimulus?
Nope. It was just business as usual.
Even better, the economy was supposedly doing totally awesome over the last six months.
And yet, even with all that positivity, the government still managed to rack up an extra trillion dollars in debt.
Amazing.
One important point to make is that debt growth is VASTLY outpacing GDP growth. And this is critical to understand.
Last year, for example, the US economy grew by 2.5% in 'real' terms, i.e. stripping out inflation.
Even if you include inflation in the calculation, the size of the US economy increased by 4.4%. Yet the national debt grew by 6%.
Now that might not seem like a big difference. But it is. On a proportional basis, the national debt expanded 36% faster than the US economy (even if you include inflation).
Over the course of several years, that effect compounds into something that's quite nasty.
At the end of 2008, for example, the size of the US economy was $14.5 trillion. A decade later, the size of the economy is $19.7 trillion, 36% greater.
Yet over the past ten years, the national debt has grown from $9.4 trillion to over $21 trillion- a growth rate of 123%!
It's really, really hard to pretend that this is good news.
But that doesn't stop people from trying.
We're constantly being told the same old nonsense that "the debt doesn't matter" because we owe it to ourselves.
And, sure, it's true that the US government owes a lot of this money to various institutions across America. Like Social Security. Or the US banking system. Or the Federal Reserve.
I find it difficult to see the good news here… as if it would somehow be beneficial to default on (and hence bankrupt) Social Security. Or the US banking system. Or the Federal Reserve.
Doing so would cause the most drastic financial cataclysm ever before seen in the United States.
Reagan is IMO the 'father' of the modern run your nation into the ground with deficit spending POTUS.
The whole concept of massive deficit spending in the modern age accelerated EXPONENTIALLY during Reagan's tenure.
There are plenty of reasons to question why so many Americans consider Reagan to be such a good POTUS but of the issue of deficit spending alone, Reagan was a fucking unmitigated DISASTER.
Reagan also ushered in the modern era of destroying American trade & worker unions but that is a whole different can of worms.
Trump is the self proclaimed 'king of debt' but Trump took advantage of bankruptcy laws & then eventually Saudi, Russian, and German banks to navigate fucking over his creditors, and many others.
The fact remains that as POTUS Trump is placing public debt upon the US at a record pace; there is no debating that point.
Trump's tax cuts for the wealthiest 1% and for the corporations resulted in a LOSS of tax receipts that is resulting in increased record deficits & increased record public debt.
This is occurring in a time frame in which we are being told the, "economy is the best ever" by Trump and by many others.
IF the economy is so great then why in Hell aren't we as a nation paying down the national debt?
Trump is a LIAR, a lying sac of shit.
There is no other way to explain the abomination that is Trump.
Keep believing those LIES folks. You know you love it.
So that must mean that you will not be voting for any of the 2020 Dem candidates because of their $trillion dollar$ spending plansDonald Trump has achieved another biggest ever number. The national debt now, 2019, $ 22.5 Trillion and accelerating. Donald Trump will keep achieving record numbers for national debt with a new higher number for every year of Donald Trump's tenure.
Donald Trump cannot roll back any of his tax reductions because it will cause a fall in the stock market, especially corporate tax.
This is monstrous that US debt is rising faster than the economy.
Donald Trump was gifted a rising economy and low unemployment from Barak Obama and Donald Trump is now driving the US economy towards a recession with the rate of debt increase faster than the economic growth rate.
The whole basis of the Trump US economic rise is an illusion pumped by blather and bluster whereas the real facts are that wages are not rising faster than costs and the jobs created were mostly minimum wage service jobs.
Government debt is rising and the rate of rise of debt is increasing which will eventually lead to interest payments becoming the biggest budget item.
If there is a recession it could be devastating as the government is already mired in burgeoning budget deficits which will only grow larger in a recession.
The article below is from 2018, however, the current situation is even more serious than it was then.
The US' national debt is rising 36% faster than the economy
... The US' national debt is rising 36% faster than the economy
Simon Black, Sovereign Man Mar. 21, 2018, 5:43 PM
The national debt is rising 36% faster than the US economy.
The US now owes more than $21 trillion.
In a single day last week, from Thursday to Friday, the national debt grew by $73 billion.
Well, it happened again.
On Friday afternoon, the national debt of the United States hit another major milestone, soaring past $21 trillion for the first time ever.
Clearly that is an enormous number… it's actually larger than the size of the entire US economy, which is pretty incredible.
But what's always been the more important story about America's pile of debt is how rapidly it's growing.
For example, in the span of a SINGLE DAY, from Thursday to Friday, the national debt grew by $73 BILLION. In a day.
To put that number in context, $73 billion is larger than the size of most major companies like General Motors, Ford, and Southwest Airlines.
And in the month of February alone, the national debt grew by an astounding $215 billion.
$215 billion is larger than the GDP of New Zealand. Greece. Oregon. More than twice the size of the GDP of New Mexico. Just in a single month.
Most disturbingly, the national debt has grown by more than $1 TRILLION… just in the last SIX MONTHS.
I'm scratching my head right now wondering- where did they spend all that money? Was there a major economic crisis, wave of bank failures, or severe depression that required massive fiscal stimulus?
Nope. It was just business as usual.
Even better, the economy was supposedly doing totally awesome over the last six months.
And yet, even with all that positivity, the government still managed to rack up an extra trillion dollars in debt.
Amazing.
One important point to make is that debt growth is VASTLY outpacing GDP growth. And this is critical to understand.
Last year, for example, the US economy grew by 2.5% in 'real' terms, i.e. stripping out inflation.
Even if you include inflation in the calculation, the size of the US economy increased by 4.4%. Yet the national debt grew by 6%.
Now that might not seem like a big difference. But it is. On a proportional basis, the national debt expanded 36% faster than the US economy (even if you include inflation).
Over the course of several years, that effect compounds into something that's quite nasty.
At the end of 2008, for example, the size of the US economy was $14.5 trillion. A decade later, the size of the economy is $19.7 trillion, 36% greater.
Yet over the past ten years, the national debt has grown from $9.4 trillion to over $21 trillion- a growth rate of 123%!
It's really, really hard to pretend that this is good news.
But that doesn't stop people from trying.
We're constantly being told the same old nonsense that "the debt doesn't matter" because we owe it to ourselves.
And, sure, it's true that the US government owes a lot of this money to various institutions across America. Like Social Security. Or the US banking system. Or the Federal Reserve.
I find it difficult to see the good news here… as if it would somehow be beneficial to default on (and hence bankrupt) Social Security. Or the US banking system. Or the Federal Reserve.
Doing so would cause the most drastic financial cataclysm ever before seen in the United States.
Well, he needed to explode the deficit to pay for that brief sugar rush increase in GDP.
Donald Trump has achieved another biggest ever number. The national debt now, 2019, $ 22.5 Trillion and accelerating. Donald Trump will keep achieving record numbers for national debt with a new higher number for every year of Donald Trump's tenure.
Donald Trump cannot roll back any of his tax reductions because it will cause a fall in the stock market, especially corporate tax.
This is monstrous that US debt is rising faster than the economy.
Donald Trump was gifted a rising economy and low unemployment from Barak Obama and Donald Trump is now driving the US economy towards a recession with the rate of debt increase faster than the economic growth rate.
The whole basis of the Trump US economic rise is an illusion pumped by blather and bluster whereas the real facts are that wages are not rising faster than costs and the jobs created were mostly minimum wage service jobs.
Government debt is rising and the rate of rise of debt is increasing which will eventually lead to interest payments becoming the biggest budget item.
If there is a recession it could be devastating as the government is already mired in burgeoning budget deficits which will only grow larger in a recession.
The article below is from 2018, however, the current situation is even more serious than it was then.
The US' national debt is rising 36% faster than the economy
... The US' national debt is rising 36% faster than the economy
Simon Black, Sovereign Man Mar. 21, 2018, 5:43 PM
The national debt is rising 36% faster than the US economy.
The US now owes more than $21 trillion.
In a single day last week, from Thursday to Friday, the national debt grew by $73 billion.
Well, it happened again.
On Friday afternoon, the national debt of the United States hit another major milestone, soaring past $21 trillion for the first time ever.
Clearly that is an enormous number… it's actually larger than the size of the entire US economy, which is pretty incredible.
But what's always been the more important story about America's pile of debt is how rapidly it's growing.
For example, in the span of a SINGLE DAY, from Thursday to Friday, the national debt grew by $73 BILLION. In a day.
To put that number in context, $73 billion is larger than the size of most major companies like General Motors, Ford, and Southwest Airlines.
And in the month of February alone, the national debt grew by an astounding $215 billion.
$215 billion is larger than the GDP of New Zealand. Greece. Oregon. More than twice the size of the GDP of New Mexico. Just in a single month.
Most disturbingly, the national debt has grown by more than $1 TRILLION… just in the last SIX MONTHS.
I'm scratching my head right now wondering- where did they spend all that money? Was there a major economic crisis, wave of bank failures, or severe depression that required massive fiscal stimulus?
Nope. It was just business as usual.
Even better, the economy was supposedly doing totally awesome over the last six months.
And yet, even with all that positivity, the government still managed to rack up an extra trillion dollars in debt.
Amazing.
One important point to make is that debt growth is VASTLY outpacing GDP growth. And this is critical to understand.
Last year, for example, the US economy grew by 2.5% in 'real' terms, i.e. stripping out inflation.
Even if you include inflation in the calculation, the size of the US economy increased by 4.4%. Yet the national debt grew by 6%.
Now that might not seem like a big difference. But it is. On a proportional basis, the national debt expanded 36% faster than the US economy (even if you include inflation).
Over the course of several years, that effect compounds into something that's quite nasty.
At the end of 2008, for example, the size of the US economy was $14.5 trillion. A decade later, the size of the economy is $19.7 trillion, 36% greater.
Yet over the past ten years, the national debt has grown from $9.4 trillion to over $21 trillion- a growth rate of 123%!
It's really, really hard to pretend that this is good news.
But that doesn't stop people from trying.
We're constantly being told the same old nonsense that "the debt doesn't matter" because we owe it to ourselves.
And, sure, it's true that the US government owes a lot of this money to various institutions across America. Like Social Security. Or the US banking system. Or the Federal Reserve.
I find it difficult to see the good news here… as if it would somehow be beneficial to default on (and hence bankrupt) Social Security. Or the US banking system. Or the Federal Reserve.
Doing so would cause the most drastic financial cataclysm ever before seen in the United States.
Reagan is IMO the 'father' of the modern run your nation into the ground with deficit spending POTUS.
The whole concept of massive deficit spending in the modern age accelerated EXPONENTIALLY during Reagan's tenure.
There are plenty of reasons to question why so many Americans consider Reagan to be such a good POTUS but of the issue of deficit spending alone, Reagan was a fucking unmitigated DISASTER.
Reagan also ushered in the modern era of destroying American trade & worker unions but that is a whole different can of worms.
Trump is the self proclaimed 'king of debt' but Trump took advantage of bankruptcy laws & then eventually Saudi, Russian, and German banks to navigate fucking over his creditors, and many others.
The fact remains that as POTUS Trump is placing public debt upon the US at a record pace; there is no debating that point.
Trump's tax cuts for the wealthiest 1% and for the corporations resulted in a LOSS of tax receipts that is resulting in increased record deficits & increased record public debt.
This is occurring in a time frame in which we are being told the, "economy is the best ever" by Trump and by many others.
IF the economy is so great then why in Hell aren't we as a nation paying down the national debt?
Trump is a LIAR, a lying sac of shit.
There is no other way to explain the abomination that is Trump.
Keep believing those LIES folks. You know you love it.
IF the economy is so great then why in Hell aren't we as a nation paying down the national debt?
Good question. Why is Congress increasing spending constantly? If DJT gets second term, I suppose he will have to do something on debt-spending and you will howl and bark. Congress is proven useless with DEMS and RINO Ryan Bohener etc.
He is getting fat Euro countries to pay more of their provided Defense, getting Fair Trade. Why are DEMs not signing off USMCA?
No European country has yet started spending more on the military. They have just siad they would. Talk is cheap.
Let us all give back to the country like JFK spouted and live with the real standard of living.Donald Trump has achieved another biggest ever number. The national debt now, 2019, $ 22.5 Trillion and accelerating. Donald Trump will keep achieving record numbers for national debt with a new higher number for every year of Donald Trump's tenure.
Donald Trump cannot roll back any of his tax reductions because it will cause a fall in the stock market, especially corporate tax.
This is monstrous that US debt is rising faster than the economy.
Donald Trump was gifted a rising economy and low unemployment from Barak Obama and Donald Trump is now driving the US economy towards a recession with the rate of debt increase faster than the economic growth rate.
The whole basis of the Trump US economic rise is an illusion pumped by blather and bluster whereas the real facts are that wages are not rising faster than costs and the jobs created were mostly minimum wage service jobs.
Government debt is rising and the rate of rise of debt is increasing which will eventually lead to interest payments becoming the biggest budget item.
If there is a recession it could be devastating as the government is already mired in burgeoning budget deficits which will only grow larger in a recession.
The article below is from 2018, however, the current situation is even more serious than it was then.
The US' national debt is rising 36% faster than the economy
... The US' national debt is rising 36% faster than the economy
Simon Black, Sovereign Man Mar. 21, 2018, 5:43 PM
The national debt is rising 36% faster than the US economy.
The US now owes more than $21 trillion.
In a single day last week, from Thursday to Friday, the national debt grew by $73 billion.
Well, it happened again.
On Friday afternoon, the national debt of the United States hit another major milestone, soaring past $21 trillion for the first time ever.
Clearly that is an enormous number… it's actually larger than the size of the entire US economy, which is pretty incredible.
But what's always been the more important story about America's pile of debt is how rapidly it's growing.
For example, in the span of a SINGLE DAY, from Thursday to Friday, the national debt grew by $73 BILLION. In a day.
To put that number in context, $73 billion is larger than the size of most major companies like General Motors, Ford, and Southwest Airlines.
And in the month of February alone, the national debt grew by an astounding $215 billion.
$215 billion is larger than the GDP of New Zealand. Greece. Oregon. More than twice the size of the GDP of New Mexico. Just in a single month.
Most disturbingly, the national debt has grown by more than $1 TRILLION… just in the last SIX MONTHS.
I'm scratching my head right now wondering- where did they spend all that money? Was there a major economic crisis, wave of bank failures, or severe depression that required massive fiscal stimulus?
Nope. It was just business as usual.
Even better, the economy was supposedly doing totally awesome over the last six months.
And yet, even with all that positivity, the government still managed to rack up an extra trillion dollars in debt.
Amazing.
One important point to make is that debt growth is VASTLY outpacing GDP growth. And this is critical to understand.
Last year, for example, the US economy grew by 2.5% in 'real' terms, i.e. stripping out inflation.
Even if you include inflation in the calculation, the size of the US economy increased by 4.4%. Yet the national debt grew by 6%.
Now that might not seem like a big difference. But it is. On a proportional basis, the national debt expanded 36% faster than the US economy (even if you include inflation).
Over the course of several years, that effect compounds into something that's quite nasty.
At the end of 2008, for example, the size of the US economy was $14.5 trillion. A decade later, the size of the economy is $19.7 trillion, 36% greater.
Yet over the past ten years, the national debt has grown from $9.4 trillion to over $21 trillion- a growth rate of 123%!
It's really, really hard to pretend that this is good news.
But that doesn't stop people from trying.
We're constantly being told the same old nonsense that "the debt doesn't matter" because we owe it to ourselves.
And, sure, it's true that the US government owes a lot of this money to various institutions across America. Like Social Security. Or the US banking system. Or the Federal Reserve.
I find it difficult to see the good news here… as if it would somehow be beneficial to default on (and hence bankrupt) Social Security. Or the US banking system. Or the Federal Reserve.
Doing so would cause the most drastic financial cataclysm ever before seen in the United States.
Donald Trump has achieved another biggest ever number. The national debt now, 2019, $ 22.5 Trillion and accelerating. Donald Trump will keep achieving record numbers for national debt with a new higher number for every year of Donald Trump's tenure.
Donald Trump cannot roll back any of his tax reductions because it will cause a fall in the stock market, especially corporate tax.
This is monstrous that US debt is rising faster than the economy.
Donald Trump was gifted a rising economy and low unemployment from Barak Obama and Donald Trump is now driving the US economy towards a recession with the rate of debt increase faster than the economic growth rate.
The whole basis of the Trump US economic rise is an illusion pumped by blather and bluster whereas the real facts are that wages are not rising faster than costs and the jobs created were mostly minimum wage service jobs.
Government debt is rising and the rate of rise of debt is increasing which will eventually lead to interest payments becoming the biggest budget item.
If there is a recession it could be devastating as the government is already mired in burgeoning budget deficits which will only grow larger in a recession.
The article below is from 2018, however, the current situation is even more serious than it was then.
The US' national debt is rising 36% faster than the economy
They literally say exactly that themselves. When Bush was president and the debt was rising at an alarming rate, their reaction to that was "deficits don't matter." Then as soon as Obama became president, they couldn't stop bitching about deficits and the debt. And now since trump has become president, they don't seem to matter to them anymore.Debt doesn’t matter
Especially when a Republican is President
Well, he needed to explode the deficit to pay for that brief sugar rush increase in GDP.
Now that that's over, the Fed is having to step in to drop rates in response to weakness, and that's someone else's fault entirely.
This all makes perfect sense in the alternate universe.
.
Donald Trump has achieved another biggest ever number. The national debt now, 2019, $ 22.5 Trillion and accelerating. Donald Trump will keep achieving record numbers for national debt with a new higher number for every year of Donald Trump's tenure.
Donald Trump cannot roll back any of his tax reductions because it will cause a fall in the stock market, especially corporate tax.
This is monstrous that US debt is rising faster than the economy.
Donald Trump was gifted a rising economy and low unemployment from Barak Obama and Donald Trump is now driving the US economy towards a recession with the rate of debt increase faster than the economic growth rate.
The whole basis of the Trump US economic rise is an illusion pumped by blather and bluster whereas the real facts are that wages are not rising faster than costs and the jobs created were mostly minimum wage service jobs.
Government debt is rising and the rate of rise of debt is increasing which will eventually lead to interest payments becoming the biggest budget item.
If there is a recession it could be devastating as the government is already mired in burgeoning budget deficits which will only grow larger in a recession.
The article below is from 2018, however, the current situation is even more serious than it was then.
The US' national debt is rising 36% faster than the economy
... The US' national debt is rising 36% faster than the economy
Simon Black, Sovereign Man Mar. 21, 2018, 5:43 PM
The national debt is rising 36% faster than the US economy.
The US now owes more than $21 trillion.
In a single day last week, from Thursday to Friday, the national debt grew by $73 billion.
Well, it happened again.
On Friday afternoon, the national debt of the United States hit another major milestone, soaring past $21 trillion for the first time ever.
Clearly that is an enormous number… it's actually larger than the size of the entire US economy, which is pretty incredible.
But what's always been the more important story about America's pile of debt is how rapidly it's growing.
For example, in the span of a SINGLE DAY, from Thursday to Friday, the national debt grew by $73 BILLION. In a day.
To put that number in context, $73 billion is larger than the size of most major companies like General Motors, Ford, and Southwest Airlines.
And in the month of February alone, the national debt grew by an astounding $215 billion.
$215 billion is larger than the GDP of New Zealand. Greece. Oregon. More than twice the size of the GDP of New Mexico. Just in a single month.
Most disturbingly, the national debt has grown by more than $1 TRILLION… just in the last SIX MONTHS.
I'm scratching my head right now wondering- where did they spend all that money? Was there a major economic crisis, wave of bank failures, or severe depression that required massive fiscal stimulus?
Nope. It was just business as usual.
Even better, the economy was supposedly doing totally awesome over the last six months.
And yet, even with all that positivity, the government still managed to rack up an extra trillion dollars in debt.
Amazing.
One important point to make is that debt growth is VASTLY outpacing GDP growth. And this is critical to understand.
Last year, for example, the US economy grew by 2.5% in 'real' terms, i.e. stripping out inflation.
Even if you include inflation in the calculation, the size of the US economy increased by 4.4%. Yet the national debt grew by 6%.
Now that might not seem like a big difference. But it is. On a proportional basis, the national debt expanded 36% faster than the US economy (even if you include inflation).
Over the course of several years, that effect compounds into something that's quite nasty.
At the end of 2008, for example, the size of the US economy was $14.5 trillion. A decade later, the size of the economy is $19.7 trillion, 36% greater.
Yet over the past ten years, the national debt has grown from $9.4 trillion to over $21 trillion- a growth rate of 123%!
It's really, really hard to pretend that this is good news.
But that doesn't stop people from trying.
We're constantly being told the same old nonsense that "the debt doesn't matter" because we owe it to ourselves.
And, sure, it's true that the US government owes a lot of this money to various institutions across America. Like Social Security. Or the US banking system. Or the Federal Reserve.
I find it difficult to see the good news here… as if it would somehow be beneficial to default on (and hence bankrupt) Social Security. Or the US banking system. Or the Federal Reserve.
Doing so would cause the most drastic financial cataclysm ever before seen in the United States.
Reagan is IMO the 'father' of the modern run your nation into the ground with deficit spending POTUS.
The whole concept of massive deficit spending in the modern age accelerated EXPONENTIALLY during Reagan's tenure.
There are plenty of reasons to question why so many Americans consider Reagan to be such a good POTUS but of the issue of deficit spending alone, Reagan was a fucking unmitigated DISASTER.
Reagan also ushered in the modern era of destroying American trade & worker unions but that is a whole different can of worms.
Trump is the self proclaimed 'king of debt' but Trump took advantage of bankruptcy laws & then eventually Saudi, Russian, and German banks to navigate fucking over his creditors, and many others.
The fact remains that as POTUS Trump is placing public debt upon the US at a record pace; there is no debating that point.
Trump's tax cuts for the wealthiest 1% and for the corporations resulted in a LOSS of tax receipts that is resulting in increased record deficits & increased record public debt.
This is occurring in a time frame in which we are being told the, "economy is the best ever" by Trump and by many others.
IF the economy is so great then why in Hell aren't we as a nation paying down the national debt?
Trump is a LIAR, a lying sac of shit.
There is no other way to explain the abomination that is Trump.
Keep believing those LIES folks. You know you love it.
IF the economy is so great then why in Hell aren't we as a nation paying down the national debt?
Good question. Why is Congress increasing spending constantly? If DJT gets second term, I suppose he will have to do something on debt-spending and you will howl and bark. Congress is proven useless with DEMS and RINO Ryan Bohener etc.
He is getting fat Euro countries to pay more of their provided Defense, getting Fair Trade. Why are DEMs not signing off USMCA?
No European country has yet started spending more on the military. They have just siad they would. Talk is cheap.
Yep, and we know how cheap Democrat talk really is...dumbass.
Debt doesn’t matter
Especially when a Republican is President
Yes, but Trump is a Republican – and deficits and debt are OK under a Republican president.Donald Trump has achieved another biggest ever number. The national debt now, 2019, $ 22.5 Trillion and accelerating. Donald Trump will keep achieving record numbers for national debt with a new higher number for every year of Donald Trump's tenure.
Donald Trump cannot roll back any of his tax reductions because it will cause a fall in the stock market, especially corporate tax.
This is monstrous that US debt is rising faster than the economy.
Donald Trump was gifted a rising economy and low unemployment from Barak Obama and Donald Trump is now driving the US economy towards a recession with the rate of debt increase faster than the economic growth rate.
The whole basis of the Trump US economic rise is an illusion pumped by blather and bluster whereas the real facts are that wages are not rising faster than costs and the jobs created were mostly minimum wage service jobs.
Government debt is rising and the rate of rise of debt is increasing which will eventually lead to interest payments becoming the biggest budget item.
If there is a recession it could be devastating as the government is already mired in burgeoning budget deficits which will only grow larger in a recession.
The article below is from 2018, however, the current situation is even more serious than it was then.
The US' national debt is rising 36% faster than the economy
... The US' national debt is rising 36% faster than the economy
Simon Black, Sovereign Man Mar. 21, 2018, 5:43 PM
The national debt is rising 36% faster than the US economy.
The US now owes more than $21 trillion.
In a single day last week, from Thursday to Friday, the national debt grew by $73 billion.
Well, it happened again.
On Friday afternoon, the national debt of the United States hit another major milestone, soaring past $21 trillion for the first time ever.
Clearly that is an enormous number… it's actually larger than the size of the entire US economy, which is pretty incredible.
But what's always been the more important story about America's pile of debt is how rapidly it's growing.
For example, in the span of a SINGLE DAY, from Thursday to Friday, the national debt grew by $73 BILLION. In a day.
To put that number in context, $73 billion is larger than the size of most major companies like General Motors, Ford, and Southwest Airlines.
And in the month of February alone, the national debt grew by an astounding $215 billion.
$215 billion is larger than the GDP of New Zealand. Greece. Oregon. More than twice the size of the GDP of New Mexico. Just in a single month.
Most disturbingly, the national debt has grown by more than $1 TRILLION… just in the last SIX MONTHS.
I'm scratching my head right now wondering- where did they spend all that money? Was there a major economic crisis, wave of bank failures, or severe depression that required massive fiscal stimulus?
Nope. It was just business as usual.
Even better, the economy was supposedly doing totally awesome over the last six months.
And yet, even with all that positivity, the government still managed to rack up an extra trillion dollars in debt.
Amazing.
One important point to make is that debt growth is VASTLY outpacing GDP growth. And this is critical to understand.
Last year, for example, the US economy grew by 2.5% in 'real' terms, i.e. stripping out inflation.
Even if you include inflation in the calculation, the size of the US economy increased by 4.4%. Yet the national debt grew by 6%.
Now that might not seem like a big difference. But it is. On a proportional basis, the national debt expanded 36% faster than the US economy (even if you include inflation).
Over the course of several years, that effect compounds into something that's quite nasty.
At the end of 2008, for example, the size of the US economy was $14.5 trillion. A decade later, the size of the economy is $19.7 trillion, 36% greater.
Yet over the past ten years, the national debt has grown from $9.4 trillion to over $21 trillion- a growth rate of 123%!
It's really, really hard to pretend that this is good news.
But that doesn't stop people from trying.
We're constantly being told the same old nonsense that "the debt doesn't matter" because we owe it to ourselves.
And, sure, it's true that the US government owes a lot of this money to various institutions across America. Like Social Security. Or the US banking system. Or the Federal Reserve.
I find it difficult to see the good news here… as if it would somehow be beneficial to default on (and hence bankrupt) Social Security. Or the US banking system. Or the Federal Reserve.
Doing so would cause the most drastic financial cataclysm ever before seen in the United States.
Debt doesn’t matter
Especially when a Republican is President
Are you aware Obama doubled the debt in 8 years?
Debt doesn’t matter
Especially when a Republican is President
Are you aware Obama doubled the debt in 8 years?
Are you aware that you really suck at math?
