Yikes!!! US National Debt Increased By Almost $1 Trillion In Only ONE MONTH

[excalibur]

t

They did the same during Trump

Yep, since Pelosi and the Democrats ran the House 2019-2020.

 

[excalibur]

Didn't we just send a huge aid package to Ukraine?

Psaki condemned cluster munitions, now Joe is sending cluster munitions to the fool Zelensky.

 

[two_iron]

Imagine this with a credit card..... that's where we're at now....

 

[NewsVine_Mariyam]

Psaki condemned cluster munitions, now Joe is sending cluster munitions to the fool Zelensky.

Yeah I saw that on the evening news last night. I don't get the point of letting Russia destroy the country and lives of so many millions and then after the fact we keep throwing money at the problem. If we were going to help, why didn't we do so in the beginning?

 

[Moonglow]

t


Yep, since Pelosi and the Democrats ran the House 2019-2020.

And Trump signed off and ask for more.

 

[Moonglow]

Okay fair - but how much of that additional debt was to to paying up the dues for wars that the preceding democrat administration kept alive - and was ended by Trump?
And social programs enacted by the Obama administration that cost US$ trillions?

Trump did not end any wars nor did Trump end any welfare programs.

 

[JGalt]

And Trump signed off and ask for more.

Would you rather Trump hadn't spent so much on the COVID pandemic?

 

[Moonglow]

Would you rather Trump hadn't spent so much on the COVID pandemic?

I wish they all would not spend so much but...

 

[excalibur]

And Trump signed off and ask for more.

And? Democrats passed it.

 

[wamose]

Trump did not end any wars nor did Trump end any welfare programs.

He ended NAFTA and the proposed Asia trade agreements, which were corporate welfare. He ended our participation in the Paris climate accord, which was welfare for China, India and to a lesser extent, Europe. He stopped welfare to NATO by making European countries pay their fair share. The welfare Trump stopped was the welfare that was making the rich richer. So while Democrats were pretending to stand with the working man, it was actually Trump who was in their corner. Democrats are elitists. They really don't give two shits about the working man, Blacks, illegal immigrants or human rights like they pretend to. MAGA

 

[Harpy Eagle]

He ended NAFTA and the proposed Asia trade agreements, which were corporate welfare.

He did not end NAFTA, they made a few tweaks to it and gave it a pretty new name. The biggest concession Trump got was the other two allowing the US to be first in the new name.

 

[HikerGuy83]

He did not end NAFTA, they made a few tweaks to it and gave it a pretty new name. The biggest concession Trump got was the other two allowing the US to be first in the new name.

Link ?

 

[Harpy Eagle]

Link ?

I posted this when the deal was first done...the link to it is no longer available since Trump is no longer in the White House.

Changes from NAFTA to USMCA...

1. Cars and trucks must have 75 percent of their components manufactured in Mexico, the US, or Canada to qualify for zero tariffs (up from 62.5 percent under NAFTA). While this sounds some what impressive, there are only two car lines sold being made in these countries that did not already meet the 75% rule. Trump wanted it to be 85%, but the other two would not agree to that, so he relented.

2. 40% of an automobile and 45% of a light truck must be produced using an average labor wage of $16/hour by 2023. Very nice for Mexicans, meaningless for Americans and not enough to force companies to bring production home when the average union auto worker is making $28 an hour with a whole lot better (and more expensive) benefits.

3. Restrictions on the import of U.S. ultra-filtered milk into Canada have been removed. This is a niche product used mostly by people like body builders and such looking for a boost in protein without extra sugar. Total sales in America are in the 130 million range and the companies that make it are very limited.

4. US producers will have access to an additional 3.6% of Canada’s dairy market. The entire Canadian Dairy market is about 10.5 billion total, so 3.6% of that is about 380 million. The US dairy market is about 47 billion, so the extra sales come out to 0.81% addition...less than 1% more sold...and that is only if they can take advantage of the full 3.6% extra that is open...which is not guaranteed. According to the US International Trade commission the new deal would add about 227 million a year to US dairy sales, or 0.61%. I guess they are not expecting the dairy companies to be able to take advantage of the whole extra 3.6% of the Canadian market.

5. The Trump White House said that the USMCA will create 176,000 jobs. Again, sounds impressive till you find out that is over the 16 year lifespan of the USMCA...or about 11,000 per year or 917 extra jobs per month...917! Not exactly a needle mover in regards to the economy.

6. The Trump White House also said that the USMCA would add 76,000 new auto jobs in the US...over the 16 year lifespan...that comes out to 4750 a year or 396 a month. Again...not really moving the needle at all considering there are 9.9 million auto workers in the US right now.

 

[Blaster]

I posted this when the deal was first done...the link to it is no longer available since Trump is no longer in the White House.

Changes from NAFTA to USMCA...

1. Cars and trucks must have 75 percent of their components manufactured in Mexico, the US, or Canada to qualify for zero tariffs (up from 62.5 percent under NAFTA). While this sounds some what impressive, there are only two car lines sold being made in these countries that did not already meet the 75% rule. Trump wanted it to be 85%, but the other two would not agree to that, so he relented.

2. 40% of an automobile and 45% of a light truck must be produced using an average labor wage of $16/hour by 2023. Very nice for Mexicans, meaningless for Americans and not enough to force companies to bring production home when the average union auto worker is making $28 an hour with a whole lot better (and more expensive) benefits.

3. Restrictions on the import of U.S. ultra-filtered milk into Canada have been removed. This is a niche product used mostly by people like body builders and such looking for a boost in protein without extra sugar. Total sales in America are in the 130 million range and the companies that make it are very limited.

4. US producers will have access to an additional 3.6% of Canada’s dairy market. The entire Canadian Dairy market is about 10.5 billion total, so 3.6% of that is about 380 million. The US dairy market is about 47 billion, so the extra sales come out to 0.81% addition...less than 1% more sold...and that is only if they can take advantage of the full 3.6% extra that is open...which is not guaranteed. According to the US International Trade commission the new deal would add about 227 million a year to US dairy sales, or 0.61%. I guess they are not expecting the dairy companies to be able to take advantage of the whole extra 3.6% of the Canadian market.

5. The Trump White House said that the USMCA will create 176,000 jobs. Again, sounds impressive till you find out that is over the 16 year lifespan of the USMCA...or about 11,000 per year or 917 extra jobs per month...917! Not exactly a needle mover in regards to the economy.

6. The Trump White House also said that the USMCA would add 76,000 new auto jobs in the US...over the 16 year lifespan...that comes out to 4750 a year or 396 a month. Again...not really moving the needle at all considering there are 9.9 million auto workers in the US right now.

How long have you been kissing the ass of the Democrat party?

 

[Kruska]

Trump did not end any wars nor did Trump end any welfare programs.

OMG, I need to defend Trump now.

Trump laid the decision to withdraw US forces from Afghanistan - you trying to refute that fact?
The reasons for Trump not being able to revoke Obamacare are also known.

Fact is however that the Trump administration had to pay for the ongoing war in Afghanistan, the results of the Iraq war and for Obamacare = US$trillions.

 

[HikerGuy83]

OMG, I need to defend Trump now.

Trump laid the decision to withdraw US forces from Afghanistan - you trying to refute that fact?
The reasons for Trump not being able to revoke Obamacare are also known.

Fact is however that the Trump administration had to pay for the ongoing war in Afghanistan, the results of the Iraq war and for Obamacare = US$trillions.

Thank you for helping to add some perspective.

GWB was a terrible president.

I don't rate Obama much better.

Clinton was operating with almost no deficit for three years. We could have rescued our debt had Bush not had his head up his backside.

 

[TroglocratsRdumb]

In Left Wing economics the citizens are the slaves, and the ruling elites are the slave masters.
Democrats don't care how much debt that they load on the backs of the Taxpayers, because they are their slaves.

 

[justoffal]

What the hell? At this rate, something's gonna break pretty soon. How can the US go $865 billion in debt in only one month?

US Debt Explodes by $865,000,000,000 in One Month – Larger Than Finland, Hong Kong and Greece’s Combined GDP​

The US national debt has surged by nearly a trillion dollars in just one month.

The latest numbers from FiscalData show that on June 2nd of this year, the total public debt outstanding of the country stood at $31.467 trillion.

A month later, on June 30th, that figure rose to $32.332 trillion, an eye-popping increase of $865 billion.

The sharp growth in US debt over a 28-day time frame is larger than the combined gross domestic product (GDP) of three large global economies.

Data from the World Bank shows that Hong Kong’s GDP hovered at $359.83 billion as of 2022. In the same year, Finland registered a GDP of $280.82 billion, while Greece’s economy produced $219.06 billion.

In total, the three economies produced $859.71 billion in wealth last year, a figure that’s lower than the debt accumulated by the United States in four weeks.

Last month, the Congressional Budget Office (CBO) released a report that projected US debt will dramatically outpace GDP growth, and it will be worth nearly three times the country’s GDP in three decades.

The CBO predicted that by 2053, US GDP will rise to $79.5 trillion with debt meteorically ascending to $143.895 trillion.

According to the federal agency, the hemorrhaging US debt will likely have detrimental effects on the US economy.

“Such high and rising debt would slow economic growth, push up interest payments to foreign holders of US debt, and pose significant risks to the fiscal and economic outlook; it could also cause lawmakers to feel more constrained in their policy choices.”

US Debt Explodes by $865,000,000,000 in One Month – Larger Than Finland, Hong Kong and Greece's Combined GDP - The Daily Hodl

Of course it did this is no different than buying your groceries week after week on a credit card. Your family can run out the door and brag to the neighborhood how you just brought home 100 lb of prime rib! But what nobody is talking about is that there's no real money coming in to pay the credit card bill later on. More or less what's happening right now with our economy. We have all this falsely stimulated activity providing jobs and creating projects ( yeah just what we need more pork barrel projects) It makes for great headlines until reality sets in and something like the debt number rains on the parade.

 

[sealybobo]

And our resident paid shills fir the dnc like Toro sealybobo Billo_Really bodecea McRib Mac1958 Dragonlady dragonidiot,ElmerMudd JimH52 Synthaholic Unkotare Penelope Care4all ect ect they can only sling shit in defeat like the monkey trolls they are throwing chairs at the wall in anger as their hero keeps getting exposed more and more as the most corrupt president ever.

How so? Trumps on trial. Multiple trials and multiple counts. You’ve exposed only yourself. Typical trumpbots. I’m glad you argue for trump and republicans. They can have you. But don’t worry. You’ll survive when they cut your social security 20%

This is what you poor republicans don’t understand. The only thing wrong with America is the rich are getting richer while the middle class and poor get poorer. Want to make america great again? Want to lower violence? Put more money in the middle class. Fuck the rich. They’re rich. Stop arguing to make them richer. You stupid bitch

 

[sealybobo]

In Left Wing economics the citizens are the slaves, and the ruling elites are the slave masters.
Democrats don't care how much debt that they load on the backs of the Taxpayers, because they are their slaves.

Republicans add just as much debt. Only all their tax breaks and spending go to the rich and corporations. Trickle down.

Democrats are middle class first.