2020 and the National Debt

[beautress]

I've heard a little talk around here from time to time about the National Debt with each side blaming the other side for the size of it. I just checked the amount of the debt, and it's going up a million dollars in the time that I was there, and considering that was a few minutes ago. The National Debt as of 12/29/2019 is $23,160,651,000,000.00 as of CST 8:44 pm.

U.S. National Debt Clock : Real Time

How important do you think the National Debt is going to be in the election of 2020? Is that too much money right now? Please add your thoughts below. Voting on this poll ends in 45 days. Thank you.

 

[blackhawk]

It will get some minor lip service but everyone knows that neither party would ever take the steps needed to deal with in a serious way because the voters would never elect someone who would do the things necessary. Everyone wants a simple easy painless solution to the national debt there isn't one.

 

[Harpy Eagle]

Nobody gives a fuck. Both sides will just keep blaming the other side and we will keep adding a trillion dollars a year...until we have the next recession and we start adding 3 trillion a year.

 

[beautress]

Nobody gives a fuck. Both sides will just keep blaming the other side and we will keep adding a trillion dollars a year...until we have the next recession and we start adding 3 trillion a year.

You really think our forum good guys who like the idea of balancing the budget would go with your idea that nobody cares? hmmmmm Or that anyone would think it's good if we owe all that money to a foreign country who would like to own the United States of America?

Enquiring minds would like to know.

 

[Borillar]

Doubt it matters. Both sides haven't shown any spending restraint. No one can claim to be fiscally responsible.

 

[Billy_Kinetta]

To whom is the bulk of the national debt to be repaid?

 

[Jackson]

My thoughts...We are in a time where there are more tax payers than ever before. If we think it's big now, just wait when there is Medicare for All, Free tuition and what ever freebies the Socialistic left can dream up.

 

[beautress]

Hmm. That's three against one so far. Am I at the real USMB Boards?

To whom is the bulk of the national debt to be repaid?

I was hoping one of our fiscal fellows would be showing up to teach us, Billy. In the open market, corporations can buy the accounts receivable, I think. I don't know how it works with the Federals. s.o.s. smart financiers!

 

[Sunni Man]

The jewish bankers will never allow the American people to escape debt slavery. ...

 

[beautress]

My thoughts...We are in a time where there are more tax payers than ever before. If we think it's big now, just wait when there is Medicare for All, Free tuition and what ever freebies the Socialistic left can dream up.

Thanks, Jackson. Thus far, the House hasn't had a lot of time spent on making new laws and it seems to me that at the national debt registry they've already spent several million dollars more than when I wrote the op. (here: U.S. National Debt Clock : Real Time)

A few elections ago, Mr. Forbes was saying "flat tax." Now, that isn't in the vogue, and I'm not sure that works for this nation, but it might be worth a drive down memory lane to see how it translates in as an issue or not in the election.

 

[beautress]

The jewish bankers will never allow the American people to escape debt slavery. ...

Jackson asked who we owed the money to, and I wonder if it was just a matter of printing more money to float around, or if debt was actually owned by banks or foreigners, which might make a difference if it is. I could be wrong, but I thought a few years back in the Obama administration, the word seemed to be that he just ordered the printing presses to bring forward whatever was needed in cash to keep the wheels turning so nobody would notice. Hopefully, someone will drop by to tell us who's holding the slips.

Edit: oh, one other thing I didn't know if you knew, but actually, we would still be curtsying to royalty if the Jewish bankers in the Revolutionary War had not kept Washington's men in shoes and warm clothing, not to mention rations of food, except that I think local farmers would have emptied their barnes to help General Washington. I found that out by reading Art Schlesinger's book "The Almanac of American History." The guy who organized his fellow jewish patrons was named "Haym Solomon," and he never got paid back, died penniless. But the Congress was able to then deliver our precious freedoms guaranteed by the Constitution of the United States.

 

[Lakhota]

To whom is the bulk of the national debt to be repaid?

Probably to Social Security and China. Last I heard, SS is the major debt holder.

 

[BrokeLoser]

I've heard a little talk around here from time to time about the National Debt with each side blaming the other side for the size of it. I just checked the amount of the debt, and it's going up a million dollars in the time that I was there, and considering that was a few minutes ago. The National Debt as of 12/29/2019 is $23,160,651,000,000.00 as of CST 8:44 pm.

U.S. National Debt Clock : Real Time

How important do you think the National Debt is going to be in the election of 2020? Is that too much money right now? Please add your thoughts below. Voting on this poll ends in 45 days. Thank you.

I selected "unimportant".
We elected a game show host in 2016 and not for his economics.
Good, real Americans are so fed up we have made winning our nation back and destroying the Left our paramount desires..even if that means setting economics aside for some time.

 

[Andylusion]

I've heard a little talk around here from time to time about the National Debt with each side blaming the other side for the size of it. I just checked the amount of the debt, and it's going up a million dollars in the time that I was there, and considering that was a few minutes ago. The National Debt as of 12/29/2019 is $23,160,651,000,000.00 as of CST 8:44 pm.

U.S. National Debt Clock : Real Time

How important do you think the National Debt is going to be in the election of 2020? Is that too much money right now? Please add your thoughts below. Voting on this poll ends in 45 days. Thank you.

I think it will be less important.... than it should be. No one is really talking like it's important.

I just watched a video by Warren Buffet that everything is fine, and we'll have no problem, because borrowing costs are low.

The problem is, borrowing costs for countries are usually lowest right before the crash.

If you look at Greece, their borrowing costs went down and down, until the moment they realized they were in trouble. In merely days or a few weeks, the borrowing costs went from the lowest they'd been in Greece for decades, to the highest of any nation in the world.

Point being, borrowing costs being low, proves nothing. A debt problem, doesn't magically change, because you can borrow cheaply.

The left-wing doesn't seem to care at all about borrowing, unless the 'other guy' is in office, and then it's a useful political football to kick around.

And unfortunately Trump doesn't believe debt is a problem either.

So I don't see it being a major factor in 2020, although it should be.

 

[beautress]

Thank you for your input, Lakhota.That bit about China rings something about the national debt, but the scuttlebutt on china owning our debt I heard was likely around 15 years ago.

 

[Andylusion]

To whom is the bulk of the national debt to be repaid?

Probably to Social Security and China. Last I heard, SS is the major debt holder.

Most likely, the cost of the debt, will fall on the public. Namely retirees, and people who saved money. Followed by working people, who pay taxes.

 

[beautress]

To whom is the bulk of the national debt to be repaid?

I'm only guessing Billy. Do you think it might be repaid to the U.S. Treasury, because I haven't a clue how that works.

 

[beautress]

To whom is the bulk of the national debt to be repaid?

Probably to Social Security and China. Last I heard, SS is the major debt holder.

View attachment 297276

View attachment 297277

Most likely, the cost of the debt, will fall on the public. Namely retirees, and people who saved money. Followed by working people, who pay taxes.

Thank you, Andylusion. I was surprised some by who in foreign countries were investing as well as the sources Your information dates back to April, but it's probably holding reasonably steady.

 

[Natural Citizen]

It's very important. It's of the utmost importance. But it won't get discussed in any of the debates or in mainstream cable news entertainment programming.

I doubt it'll even get brought up, to be honest.

It hasn't been brought up in any of the democrat debates. The narrative is basically the same.

In order to properly discuss the debt, they'd have to discuss the failed monetary policy. Which they won't do. They're all trustees in central economic planning by a central bank rather than returning to free markets.

 

[Natural Citizen]

I'm only guessing Billy. Do you think it might be repaid to the U.S. Treasury, because I haven't a clue how that works.

I've explained this thoroughly on here.