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

[flacaltenn]

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.

There has never been a national social security lock box, the government takes in so much a year and must spend so much a year. It either has a surplus thus having to give much of it back, through tax breaks, or runs a deficit, then it either must cut programs or raise taxes. This has been the idea of the left since Progs got in office to bankrupt the US then it can turn it into a Socialist country like Cuba or Venezuela.

Cloward–Piven strategy. The Cloward–Piven strategy is a political strategy outlined in 1966 by American sociologists and political activists Richard Cloward and Frances Fox Piven that called for overloading the U.S. public welfare system in order to precipitate a crisis that would lead to a replacement of the welfare system...
Cloward–Piven strategy - Wikipedia
en.wikipedia.org/wiki/Cloward_and_Piven

There are many things that COULD have been done with the excess FICA they stole and spent out of working people's paychecks...

1) They could have RETIRED ACTUAL bonds on the market thus reducing the TOTAL debt in preparation for the Baby Boom crisis. This means that the excess FICA would be an "on book" asset and matched against the pay-off on the existing debt..

2) Some form of voluntary "opt-out" would allow folks to contribute (say 15%) less on their FICA, invest it according to guidelines and receive commensurate lower bennies when they retire... This would be helping TODAY to reduce the cash flow debt that the Treasury has to pay by a fairly noticeable amount.. If it had been done 40 years ago, it would be a significant reduction.. Program would only work WHILE SS/Medi were running actual surpluses..

3) there were other great ideas. Don't want to bore the short attention folks...

 

[Jimmy_Chitwood]

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 you have a hissy fit when Bawwy piled on the debt?

Which President Increased U.S. Debt the Most?

View attachment 269262

Another far right radical extremist who doesn't know the meaning of words in the English language or the difference between deficit and debt. They aren't the same.

The OP was talking about deficit. Which Obama was handed a record high in deficit of 1.4 trillion dollars by the bush boy. In 8 years Obama slashed that deficit by 1 trillion dollars down to 400 and something billion.

The bush boy and republicans handed Obama the worst economy since the republican great depression. Spending was the only solution to get us out of that mess. Obama got us out of that mess.

Which is what has been happening for a very long time. Republicans create a huge mess and democrats come behind them to clean it all up.

Learn the meaning of words in the English language before posting so you don't show all intelligent people in cyberspace just how stupid you are.

Nice hissy fit cupcake


Are the debt and deficit related?