U.S. deficit rises 23% in past year as spending rises

[ThunderKiss1965]

To whom is the debt owed?

Mainly China but also Russia to large part.

Nope, the biggest owner of the debt is the US tax payer.

 

[flacaltenn]

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.
For fuck sakes! What a gong show!

This is what people get for putting the orange clown, Trump, who has bankrupted numerous businesses including a $3 Billion dollar casino disaster! Does good business sense me nothing to Republicans?

Did he create the whole debt? Isn't the Democrat house in charge of money like they bragged about?

It's obvious not on their radar with all the free shit and give-aways that they are pandering about for votes. And that is TRULY scary...

So this naive OPoster really offers NOTHING to fix this at all.. IN FACT, because we're stuck with 2 parties pandering for power -- this is never gonna get fixed within a 2 party system...

 

[flacaltenn]

To whom is the debt owed?

Mainly China but also Russia to large part.

Horseshit.

Less than 1/3 of gov't debt is owed to foreign interests.

Depends on whether you're including the LARGE "off book" or inter-agency debt owned by SS and Medicare and other govt bankrupt programs. That ENTITLEMENT debt is about 1/3 of the total, but it is NOT in "market tradeable securities"... It's in paper IOUs...

The foreign owned debt is about 34% IF you count the total debt to INCLUDE the phony "trust funds" and other accounting shams... But WITHOUT them --- the real MARKETABLE debt held by foreign countries is well over 1/2 of the total....

It's an important distinction. Since the "self-held" debt is just phony book-keeping that let previous administrations get away without LARGER deficits and debts and carried over that larceny to their kids and grandkids....

Who Owns The Most U.S. Debt?

 

[Mikeoxenormous]

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.
For fuck sakes! What a gong show!

This is what people get for putting the orange clown, Trump, who has bankrupted numerous businesses including a $3 Billion dollar casino disaster! Does good business sense me nothing to Republicans?

This is what you get when people speak out of ANGER and not informed reason... Not your fault entirely because the media neglects to ANALYZE this growing deficit... But it's simple. We KNEW this would happen DECADES ago....

Largest growing fraction of the deficit is the Baby Boomer crisis we were WARNED ABOUT when you were a toddler. It's happening NOW... Both SocSec and Medicare have been in cash flow DEFICIT since about 2010... MANY YEARS AHEAD of the predictions.. We are there... And the reason the deficit is growing is because the govt has LIED about the phony liquidity in the Trust Fund that Congress STOLE AND SPENT for the past 30 years. So every year that SocSec and Medicare have an income shortfall, the money doesn't come from a "trust fund fairy" -- it comes OUT of the Treasury.. And USUALLY as NEW DEBT being issued.

Which MEANS that not only were working Americans ROBBED of the overpayments on Soc Sec and Medicare all their working lives with NO tangible benefit to the FUTURE of these programs, but NOW some of the same working stiff are underwriting NEW DEBT (payable to China and the rest of world) -- which brings us to the OTHER problem..

It's the SPENDING stupid.. Congress continues to blow thru spending caps and RECENTLY -- just ignores them.. EVERY new dollar issued in debt costs taxpayers anywhere from 50 to 100% more than the face value because of interest. And we're making interest payments that are higher than the budgets of about 1/2 of the Federal agencies...

Now WHY -- you ask -- did Obama not EXPLAIN that he was not totally responsible for the rising deficit and FESS UP to the American people? Because NO politician wants to acknowledge that the "Trust Fund" ruse is just a phony accounting gimmick to run up NEW debt. And he was chicken to do that.

Why doesn't Trump do this and lay the problem out for you as simply as I just did? Dunno... He probably has NO plan to deal with the unfunded OFF-BUDGET entitlements and doesn't want to fight that battle right now...

Glad I could help... Try THINKING for yourself a bit more.. It's fun and exhilarating...

And go ahead.. Press for LARGER govt mismanaging LARGE shares of the economy until Congress is running nearly every sector of the economy... Smart........ More "single payer" "universal" everything for every one...

Again, if you look at my signature, we have a simple solution to the debt problem. Let me show it and see if you can understand the predicament we are in.

In January 1964, Lyndon Baines Johnson declared "unconditional war on poverty in America." Since then, the taxpayers have spent $22 trillion on Johnson's war. Adjusted for inflation, that's three times the cost of all military wars since the American Revolution.

The national debt is 22 trillion dollars. We have spent each year, 1 trillion dollars on "Welfare", that enables people to sit on their liberal lazy asses and just be a hole in society. Now if we stopped paying those people just to sit, soon when they get hungry, they will either seek employment or some dastardly deeds. If it is employment, then no longer are they holes but contributors to society, thus putting tax revenue into the government coffers and the cut in welfare both reduce the deficit. If they go the immoral way and start robbing people, they will be shot and killed, thus removing them from society and no longer get welfare thus reducing the deficit. Dont give me shit about "But they are handicapped and cant work, shit" because the guy down below, was the most handicapped person and didnt take a dollar of welfare.

 

[Bleipriester]

To whom is the debt owed?

Mainly China but also Russia to large part.

No, it isn’t Russia or China. It’s the Social Security Trust Fund of the United States. Our congress has been taking the money from the fund for years to fund their socialist programs. In its place they leave IOUs backed by the US tax payers. That’s right, the very same tax payers who put the money in the fund to begin with.

Imagine if you had a personal IRA. You’ve spent years saving money in your IRA, and then somebody starts spending the money and replacing it with an IOU that you then have to pay.

The U.S. debt to China is $1.11 trillion as of April 2019. That's 27% of the $4.06 trillion in Treasury bills, notes, and bonds held by foreign countries. The rest of the $22 trillion national debt is ownedby either the American people or by the U.S. government itself.

The Fed is privately owned. You will never see a single Cent.

 

[SAYIT]

To whom is the debt owed?

Mainly China but also Russia to large part.

Horseshit.

Less than 1/3 of gov't debt is owed to foreign interests.

Depends on whether you're including the LARGE "off book" or inter-agency debt owned by SS and Medicare and other govt bankrupt programs. That ENTITLEMENT debt is about 1/3 of the total, but it is NOT in "market tradeable securities"... It's in paper IOUs...

The foreign owned debt is about 34% IF you count the total debt to INCLUDE the phony "trust funds" and other accounting shams... But WITHOUT them --- the real MARKETABLE debt held by foreign countries is well over 1/2 of the total....

It's an important distinction. Since the "self-held" debt is just phony book-keeping that let previous administrations get away without LARGER deficits and debts and carried over that larceny to their kids and grandkids....

Who Owns The Most U.S. Debt?

Numbers are often massaged to express the author's (or publisher's) message.
The following story was published by POLITICO in May "as part of a content partnership with the South China Morning Post." It notes that China would not likely put stacks of US cash in vaults but rather would use them to purchase global commodities such as oil, and that the money would likely end up in safe-haven US Treasuries (at perhaps slightly higher interest) anyway.

I would add that despite many attempts to supplant the US dollar as the global currency, it is our stability, our rule of law, and the creative energy of the American people that invariably wins for us. To all who laugh and claim Trump has destroyed our international standing, I say measure it by the strength of the dollar against foreign currencies. China would be cutting off their own noses to spite Trump's face and they are not TDS stupid. They'd be much better served making a fair & balanced trade deal with the US.

Will China use its $1.2T of U.S. debt as firepower to fight the trade war?

 

[leftwinger]

Nothing new. Once they broke the Housing market, all hell broke loose. Elect more Flakes, Pelosi, Reid, Ryan, Turtle, McCains....you deserve what you get. They won't cut any spending, even waste.

Under President Bush: at the end of calendar year 2000, the debt stood at $5.629 trillion. Eight years later, the federal debt stood at $9.986 trillion. Under President Obama: The debt started at $9.986 trillion and escalated to $13.7 trillion, a 38 percent increase over two years.Jul 13, 2011

The total national debt was $20.245 trillion on the last business day of fiscal year 2017.Oct 1, 2018

18 Scary US Debt Facts

 

[leftwinger]

It bothers me greatly no effort being made to eliminate duplicate FED departments (or uneccesssary).

Never understood adding ObamaCare on top of 6 other Fed medical programs existing now cost $1.2T alone.

The six major government health care programs—Medicare, Medicaid, the State Children's Health Insurance Program (SCHIP), the Department of Defense TRICARE and TRICARE for Life programs (DOD TRICARE), the Veterans Health Administration (VHA) program, and the Indian Health Service (IHS) program—provide health care ...

 

[Third Party]

It bothers me greatly no effort being made to eliminate duplicate FED departments (or uneccesssary).

Never understood adding ObamaCare on top of 6 other Fed medical programs existing now cost $1.2T alone.

The six major government health care programs—Medicare, Medicaid, the State Children's Health Insurance Program (SCHIP), the Department of Defense TRICARE and TRICARE for Life programs (DOD TRICARE), the Veterans Health Administration (VHA) program, and the Indian Health Service (IHS) program—provide health care ...

I'll explain it-jobs for friends.

 

[MindWars]

TAKE HIGH SCHOOL BUSINESS MAYBE U IDIOTS CAN COMPREHEND IT ALL AT THAT LEVEL.

One America News Network | Your Nation. Your News.

 

[Maxdeath]

So many stupid people yell about Trump and the deficit as if they understand economics. As others have stated Medicare, Social Security makes up a portion of the debt since its coffers were robbed. The cost of illegal immigration is a part of it. ACA is a part of it. All the welfare programs are a part of it. Even intrest on the debt is part of it.

Yet when Trumps administration proposed defunding a part of Snap look at how many went crazy. Anyone want to propose what we cut? Do we cut welfare programs? Do we cut Social Security? Trump proposed that all departments cut their budget by 5%. So many hit the roof.

You have so many trying to make it out to be one side or the other. It is both. But if you look at the current democrat candidates most of them are attempting to buy votes by exploding the debt so in this case I believe you could point to Dems as being major spenders.

 

[rightwinger]

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.
For fuck sakes! What a gong show!

This is what people get for putting the orange clown, Trump, who has bankrupted numerous businesses including a $3 Billion dollar casino disaster! Does good business sense me nothing to Republicans?

Where, oh where is the Tea Party?

Oh, i know
They only protest when a black man is President

 

[leftwinger]

I like it when they trot out this tired old line.

3 days ago · House Speaker Nancy Pelosi told reporters she’s committed to raising the debt limit, and said conversations with Republicans on vote timing continue. “We don’t want there to be any doubt about the full faith and credit of the United States of America,” Pelosi said Thursday.

 

[rightwinger]

So many stupid people yell about Trump and the deficit as if they understand economics. As others have stated Medicare, Social Security makes up a portion of the debt since its coffers were robbed. The cost of illegal immigration is a part of it. ACA is a part of it. All the welfare programs are a part of it. Even intrest on the debt is part of it.

Yet when Trumps administration proposed defunding a part of Snap look at how many went crazy. Anyone want to propose what we cut? Do we cut welfare programs? Do we cut Social Security? Trump proposed that all departments cut their budget by 5%. So many hit the roof.

You have so many trying to make it out to be one side or the other. It is both. But if you look at the current democrat candidates most of them are attempting to buy votes by exploding the debt so in this case I believe you could point to Dems as being major spenders.

Why in earth would we be running a deficit with a booming economy?

Obama borrowed money to prop up an economy on the brink of depression and the Republicans threw a fit

They just slashed taxes......why run a deficit at all?

 

[leftwinger]

So many stupid people yell about Trump and the deficit as if they understand economics. As others have stated Medicare, Social Security makes up a portion of the debt since its coffers were robbed. The cost of illegal immigration is a part of it. ACA is a part of it. All the welfare programs are a part of it. Even intrest on the debt is part of it.

Yet when Trumps administration proposed defunding a part of Snap look at how many went crazy. Anyone want to propose what we cut? Do we cut welfare programs? Do we cut Social Security? Trump proposed that all departments cut their budget by 5%. So many hit the roof.

You have so many trying to make it out to be one side or the other. It is both. But if you look at the current democrat candidates most of them are attempting to buy votes by exploding the debt so in this case I believe you could point to Dems as being major spenders.

Why in earth would we be running a deficit with a booming economy?

Obama borrowed money to prop up an economy on the brink of depression and the Republicans threw a fit

They just slashed taxes......why run a deficit at all?

The Tax changes caused the economy to boom. Revenue did not go down. Spending-waste is the culprit as always.

The Obama years transferred money into GOVT and Unions, holding back private sector growth. GOVT produces nothing of value.

 

[Crepitus]

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.
For fuck sakes! What a gong show!

This is what people get for putting the orange clown, Trump, who has bankrupted numerous businesses including a $3 Billion dollar casino disaster! Does good business sense me nothing to Republicans?

This is what you get when people speak out of ANGER and not informed reason... Not your fault entirely because the media neglects to ANALYZE this growing deficit... But it's simple. We KNEW this would happen DECADES ago....

Largest growing fraction of the deficit is the Baby Boomer crisis we were WARNED ABOUT when you were a toddler. It's happening NOW... Both SocSec and Medicare have been in cash flow DEFICIT since about 2010... MANY YEARS AHEAD of the predictions.. We are there... And the reason the deficit is growing is because the govt has LIED about the phony liquidity in the Trust Fund that Congress STOLE AND SPENT for the past 30 years. So every year that SocSec and Medicare have an income shortfall, the money doesn't come from a "trust fund fairy" -- it comes OUT of the Treasury.. And USUALLY as NEW DEBT being issued.

Which MEANS that not only were working Americans ROBBED of the overpayments on Soc Sec and Medicare all their working lives with NO tangible benefit to the FUTURE of these programs, but NOW some of the same working stiff are underwriting NEW DEBT (payable to China and the rest of world) -- which brings us to the OTHER problem..

It's the SPENDING stupid.. Congress continues to blow thru spending caps and RECENTLY -- just ignores them.. EVERY new dollar issued in debt costs taxpayers anywhere from 50 to 100% more than the face value because of interest. And we're making interest payments that are higher than the budgets of about 1/2 of the Federal agencies...

Now WHY -- you ask -- did Obama not EXPLAIN that he was not totally responsible for the rising deficit and FESS UP to the American people? Because NO politician wants to acknowledge that the "Trust Fund" ruse is just a phony accounting gimmick to run up NEW debt. And he was chicken to do that.

Why doesn't Trump do this and lay the problem out for you as simply as I just did? Dunno... He probably has NO plan to deal with the unfunded OFF-BUDGET entitlements and doesn't want to fight that battle right now...

Glad I could help... Try THINKING for yourself a bit more.. It's fun and exhilarating...

And go ahead.. Press for LARGER govt mismanaging LARGE shares of the economy until Congress is running nearly every sector of the economy... Smart........ More "single payer" "universal" everything for every one...

You left out the republican give a away to the rich and the corporations.

 

[rightwinger]

So many stupid people yell about Trump and the deficit as if they understand economics. As others have stated Medicare, Social Security makes up a portion of the debt since its coffers were robbed. The cost of illegal immigration is a part of it. ACA is a part of it. All the welfare programs are a part of it. Even intrest on the debt is part of it.

Yet when Trumps administration proposed defunding a part of Snap look at how many went crazy. Anyone want to propose what we cut? Do we cut welfare programs? Do we cut Social Security? Trump proposed that all departments cut their budget by 5%. So many hit the roof.

You have so many trying to make it out to be one side or the other. It is both. But if you look at the current democrat candidates most of them are attempting to buy votes by exploding the debt so in this case I believe you could point to Dems as being major spenders.

Why in earth would we be running a deficit with a booming economy?

Obama borrowed money to prop up an economy on the brink of depression and the Republicans threw a fit

They just slashed taxes......why run a deficit at all?

The Tax changes caused the economy to boom. Revenue did not go down. Spending-waste is the culprit as always.

The Obama years transferred money into GOVT and Unions, holding back private sector growth. GOVT produces nothing of value.

The economy has been on the same trajectory for a decade

The Government drives a third of the economy producing roads, infrastructure, defense industry

 

[leftwinger]

So many stupid people yell about Trump and the deficit as if they understand economics. As others have stated Medicare, Social Security makes up a portion of the debt since its coffers were robbed. The cost of illegal immigration is a part of it. ACA is a part of it. All the welfare programs are a part of it. Even intrest on the debt is part of it.

Yet when Trumps administration proposed defunding a part of Snap look at how many went crazy. Anyone want to propose what we cut? Do we cut welfare programs? Do we cut Social Security? Trump proposed that all departments cut their budget by 5%. So many hit the roof.

You have so many trying to make it out to be one side or the other. It is both. But if you look at the current democrat candidates most of them are attempting to buy votes by exploding the debt so in this case I believe you could point to Dems as being major spenders.

Why in earth would we be running a deficit with a booming economy?

Obama borrowed money to prop up an economy on the brink of depression and the Republicans threw a fit

They just slashed taxes......why run a deficit at all?

The Tax changes caused the economy to boom. Revenue did not go down. Spending-waste is the culprit as always.

The Obama years transferred money into GOVT and Unions, holding back private sector growth. GOVT produces nothing of value.

The economy has been on the same trajectory for a decade

The Government drives a third of the economy producing roads, infrastructure, defense industry

OK correction, the GOVT Does some useful functions. My bad. Maybe they could cut down to mostly useful stuff?

 

[flacaltenn]

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.
For fuck sakes! What a gong show!

This is what people get for putting the orange clown, Trump, who has bankrupted numerous businesses including a $3 Billion dollar casino disaster! Does good business sense me nothing to Republicans?

This is what you get when people speak out of ANGER and not informed reason... Not your fault entirely because the media neglects to ANALYZE this growing deficit... But it's simple. We KNEW this would happen DECADES ago....

Largest growing fraction of the deficit is the Baby Boomer crisis we were WARNED ABOUT when you were a toddler. It's happening NOW... Both SocSec and Medicare have been in cash flow DEFICIT since about 2010... MANY YEARS AHEAD of the predictions.. We are there... And the reason the deficit is growing is because the govt has LIED about the phony liquidity in the Trust Fund that Congress STOLE AND SPENT for the past 30 years. So every year that SocSec and Medicare have an income shortfall, the money doesn't come from a "trust fund fairy" -- it comes OUT of the Treasury.. And USUALLY as NEW DEBT being issued.

Which MEANS that not only were working Americans ROBBED of the overpayments on Soc Sec and Medicare all their working lives with NO tangible benefit to the FUTURE of these programs, but NOW some of the same working stiff are underwriting NEW DEBT (payable to China and the rest of world) -- which brings us to the OTHER problem..

It's the SPENDING stupid.. Congress continues to blow thru spending caps and RECENTLY -- just ignores them.. EVERY new dollar issued in debt costs taxpayers anywhere from 50 to 100% more than the face value because of interest. And we're making interest payments that are higher than the budgets of about 1/2 of the Federal agencies...

Now WHY -- you ask -- did Obama not EXPLAIN that he was not totally responsible for the rising deficit and FESS UP to the American people? Because NO politician wants to acknowledge that the "Trust Fund" ruse is just a phony accounting gimmick to run up NEW debt. And he was chicken to do that.

Why doesn't Trump do this and lay the problem out for you as simply as I just did? Dunno... He probably has NO plan to deal with the unfunded OFF-BUDGET entitlements and doesn't want to fight that battle right now...

Glad I could help... Try THINKING for yourself a bit more.. It's fun and exhilarating...

And go ahead.. Press for LARGER govt mismanaging LARGE shares of the economy until Congress is running nearly every sector of the economy... Smart........ More "single payer" "universal" everything for every one...

You left out the republican give a away to the rich and the corporations.

THE LARGEST give-away to "the rich and corporations" are the MASSIVE tax breaks that are protected by BOTH parties. Like the "energy star" tax breaks that Dems put in so that GE ends up with a NEGATIVE tax bill...

Or the VERY rich end up getting "mohair subsidies" for having a few hairy animals on their Montana ranch..

That govt/corporate collusion is FAR MORE of a factor in terms of bucks than a couple percent adjustment in the tax brackets..

When you pay almost NO TAXES because youre a favorite of Congress, you don't even WORRY about tax rates....

You need to get the big picture here and stop thinking in terms of left right party loyalties.. Only Libertarians would have the guts to END most tax rebates for products that are ALREADY on the market...

 

[rightwinger]

How can you possibly brag about how great the economy is and then jack up the deficit by 23%