A very good article on the national debt.

[Woodznutz]

Which should lay to rest the idea that the deficit and the debt are not connected.

How are the deficit and the national debt related?​

"The deficit and the national debt are directly related. When the U.S. government spends more than it receives in tax revenues, it has a budget deficit, which must be met by borrowing more money, which further adds to the debt."

Who Owns the U.S. National Debt?

Most of the U.S. national debt is owned by Social Security, the Federal Reserve, and foreign investors. Learn how it impacts the economy and you.

www.thebalancemoney.com

 

[luiza]

You should see Clif High's educated guess at Debt and as revealed to many top Remote Viewers .

Suggests the Fed have been printing money at hundreds of times the declared position.

And IF and when that info release actually occurs , you can guarantee a total collapse of every Government and financial institution on the planet .

Timing is the most difficult factor to accurately predict, but he suggests that data sets indicate a release between June and August .

Just something to mentally file away .
But it further strengthens my belief that storing best assets would be very smart . Regardless of whether this actually materialises.

 

[sealybobo]

Which should lay to rest the idea that the deficit and the debt are not connected.

How are the deficit and the national debt related?​

"The deficit and the national debt are directly related. When the U.S. government spends more than it receives in tax revenues, it has a budget deficit, which must be met by borrowing more money, which further adds to the debt."

Who Owns the U.S. National Debt?

Most of the U.S. national debt is owned by Social Security, the Federal Reserve, and foreign investors. Learn how it impacts the economy and you.

www.thebalancemoney.com

Senate GOP Approves Framework For Trump's Tax Breaks And Spending Cuts​

Rand Paul questioned the math being used by his colleagues that he said would pile on the debt load.

Republican, Sen. Bill Cassidy of Louisiana, expressed his own misgivings about tax breaks adding to the federal deficits

Susan Collins said she voted against the full package because potential Medicaid cuts in the underlying House bill “would be very detrimental to a lot of families and disabled individuals and seniors in my state.”

So Republicans, stop complaining about the debt. Rather than take all the DOGE savings and pay off the debt, Trump's going to give us all tax breaks, that mostly go to the rich. And it's going to add to the debt and cause inflation.

Don't worry about the debt until 8 years when social security goes broke. Remember Trump gave tax breaks to the rich rather than put the money they stole back into the social security fund.

 

[Woodznutz]

Senate GOP Approves Framework For Trump's Tax Breaks And Spending Cuts​

Rand Paul questioned the math being used by his colleagues that he said would pile on the debt load.

Republican, Sen. Bill Cassidy of Louisiana, expressed his own misgivings about tax breaks adding to the federal deficits

Susan Collins said she voted against the full package because potential Medicaid cuts in the underlying House bill “would be very detrimental to a lot of families and disabled individuals and seniors in my state.”

So Republicans, stop complaining about the debt. Rather than take all the DOGE savings and pay off the debt, Trump's going to give us all tax breaks, that mostly go to the rich. And it's going to add to the debt and cause inflation.

Don't worry about the debt until 8 years when social security goes broke. Remember Trump gave tax breaks to the rich rather than put the money they stole back into the social security fund.

Nothing was 'stolen' from the SS Trust Fund.

 

[sealybobo]

Nothing was 'stolen' from the SS Trust Fund.

Borrowed?

The federal government does borrow money from Social Security, but it’s required to pay back the money with interest.

The trust funds hold money that isn’t needed in the current year and they invest in special Treasury bonds that are guaranteed by the U.S. government and earn interest

The Treasury needs to borrow money when the federal government’s budget is in a deficit. The Treasury “always uses whatever cash is on hand,” whether that’s from Social Security contributions or other sources, to pay the government’s bills before it borrows more money from the public.

Some people have claimed over the years that the federal government’s borrowing from Social Security equates to “stealing.” But that’s not true.

Social Security's board of trustees estimated in its most recent annual report that the combined trust funds will run out of cash reserves by 2034. But that does not mean the program will "go broke,"

If the reserves are exhausted, Social Security programs will continue to pay benefits out of annual tax revenue, AARP explains. The benefit payments would just have to be lower, amounting to about 80% of what beneficiaries would normally be entitled to collect in 2034.

This is why I expect to take a 20% cut to my social security. Talk about getting fucked. You cry for billionaires and give them tax breaks rather than fill up the SS bucket? That's insane.

 

[Woodznutz]

Borrowed?

The federal government does borrow money from Social Security, but it’s required to pay back the money with interest.

The trust funds hold money that isn’t needed in the current year and they invest in special Treasury bonds that are guaranteed by the U.S. government and earn interest

The Treasury needs to borrow money when the federal government’s budget is in a deficit. The Treasury “always uses whatever cash is on hand,” whether that’s from Social Security contributions or other sources, to pay the government’s bills before it borrows more money from the public.

Some people have claimed over the years that the federal government’s borrowing from Social Security equates to “stealing.” But that’s not true.

Social Security's board of trustees estimated in its most recent annual report that the combined trust funds will run out of cash reserves by 2034. But that does not mean the program will "go broke,"

If the reserves are exhausted, Social Security programs will continue to pay benefits out of annual tax revenue, AARP explains. The benefit payments would just have to be lower, amounting to about 80% of what beneficiaries would normally be entitled to collect in 2034.

This is why I expect to take a 20% cut to my social security. Talk about getting fucked. You cry for billionaires and give them tax breaks rather than fill up the SS bucket? That's insane.

Cuts in benefits are needed. More people are getting benny's and for longer periods of time, while contributions can't keep up. SS has encouraged workers to opt for applying for benefits later in order to receive a larger monthly payout. However, lately financial experts are advising against it, and many are taking SS earlier rather than later.

Encouraging workers to wait until age 70 was a cynical ploy by SS to capitalize on the mortality rate, hoping that those who chose a later date would die before collecting those increased payouts.

 

[sealybobo]

Cuts in benefits are needed. More people are getting benny's and for longer periods of time, while contributions can't keep up. SS has encouraged workers to opt for applying for benefits later in order to receive a larger monthly payout. However, lately financial experts are advising against it, and many are taking SS earlier rather than later.

Encouraging workers to wait until age 70 was a cynical ploy by SS to capitalize on the mortality rate, hoping that those who chose a later date would die before collecting those increased payouts.

I'm 55. I wonder if people my age are safe. Because they say social security goes "broke" not really,, but broke the year I turn 62. So when they say the only solution is 20% cuts, do they mean to ME or to future generations? I don't mind ******* future generations. Boomers did it to us.

Generation Z and younger generations (ages 27 and younger) are expected to inherit over $15 trillion. BUT, the majority of that wealth transfer will come from high-net-worth and ultra-high-net-worth families, who together make up around 2% of all households.

When was America great? It was great when our grandparents died and left our parents money. Today our parents move in to our basements because they didn't save enough to retire.

Even I worry. My dad is 80 and healthy. His mind is starting to go. Starting to repeat the same shit a lot. Could live to be 100. Those senior living homes are at least $6000 a month if they need assistance. 20 years x 6000 a month. All that money gone. If he dies living in his home then my brother and I split $800K

Seems one way or the other the corporations want to get your money. Senior living, even assisted living, should not be so much.

 

[Captain Caveman]

To reduce/cut/eliminate the deficit and then hopefully national debt, leave it upto the States and government departments. All you do is, reduce the Federal money to states by a percentage, so each year say from 2025 to 2028 they will get 5% each year less. Upto the states to balance their books. Same with government departments, they budget reduces by a percentage. Then it's upto the departments to get more efficient or reduce staff.