Does size of US debt matter anymore?

[Invisibleflash]

I got this quote in red off a forum I used to be on but left due to mod harassment. I didn't bother to check them out for accuracy. We all know the USA has lots of debt.

I ran across a bunch of old ads from the 1940s asking people to buy savings bonds. Wow, they must have really balanced the books back then. No monkey biz. Now all they need to do to create trillions is punch a few keystrokes on the 'puter. It is all smoke and mirrors.

Does size of US debt matter anymore? I mean if the National Dept was really $37 Trillion or $52 Trillion or $152 Trillion...what does it matter? The gov will create more phony money to pay the interest, never pay the principal and on and on.

Now if it does matter, at what point will we pay the proverbial price?

Here's the latest from the U.S. Debt Clock.org: https://usdebtclock.org/#

National Debt: $27.2 Trillion ($218,452 per tax payer)

U.S. Federal Spending: $6.6 Trillion

U.S. Federal Tax Revenue: $ 3.4 Trillion

Total U.S. Debt: $85, Trillion

U.S. Total Interest Paid: $ 3.8 Trillion ($15,159 per adult)

Student Loan Debt: $ 1.7 Trillion ($39,377 per student)

Unfunded Federal Liabilities: $155.5 Trillion. (Liability per citizen $470,399)

State Debt: $1.2 Trillion

Credit Card Debt: $962,257,621,224 ($6,072 per holder)

 

[Mac1958]

Of course it does. Our debt service cuts into our economy just like bills cut into a family budget.

So we have to print more money, which creates OTHER problems.

But people only GIVE a shit about it when the OTHER guy is in office.

 

[blackhawk]

Does it matter yes will either party do anything about no and lets be honest if any politican or politicans ran on what would be needed to be done to deal with it the public would never vote for them.

 

[xband]

I got this quote in red off a forum I used to be on but left due to mod harassment. I didn't bother to check them out for accuracy. We all know the USA has lots of debt.

I ran across a bunch of old ads from the 1940s asking people to buy savings bonds. Wow, they must have really balanced the books back then. No monkey biz. Now all they need to do to create trillions is punch a few keystrokes on the 'puter. It is all smoke and mirrors.

Does size of US debt matter anymore? I mean if the National Dept was really $37 Trillion or $52 Trillion or $152 Trillion...what does it matter? The gov will create more phony money to pay the interest, never pay the principal and on and on.

Now if it does matter, at what point will we pay the proverbial price?

Here's the latest from the U.S. Debt Clock.org: https://usdebtclock.org/#

National Debt: $27.2 Trillion ($218,452 per tax payer)

U.S. Federal Spending: $6.6 Trillion

U.S. Federal Tax Revenue: $ 3.4 Trillion

Total U.S. Debt: $85, Trillion

U.S. Total Interest Paid: $ 3.8 Trillion ($15,159 per adult)

Student Loan Debt: $ 1.7 Trillion ($39,377 per student)

Unfunded Federal Liabilities: $155.5 Trillion. (Liability per citizen $470,399)

State Debt: $1.2 Trillion

Credit Card Debt: $962,257,621,224 ($6,072 per holder)

Obviously not, these days.

 

[shockedcanadian]

It's a National Security threat, many in the West have this issue. China and even Russia, do not.

When the bow breaks, the most wealthy will just move their resources into the yuan, and nobody will be able to stop it.

 

[JGalt]

I got this quote in red off a forum I used to be on but left due to mod harassment. I didn't bother to check them out for accuracy. We all know the USA has lots of debt.

I ran across a bunch of old ads from the 1940s asking people to buy savings bonds. Wow, they must have really balanced the books back then. No monkey biz. Now all they need to do to create trillions is punch a few keystrokes on the 'puter. It is all smoke and mirrors.

Does size of US debt matter anymore? I mean if the National Dept was really $37 Trillion or $52 Trillion or $152 Trillion...what does it matter? The gov will create more phony money to pay the interest, never pay the principal and on and on.

Now if it does matter, at what point will we pay the proverbial price?

Here's the latest from the U.S. Debt Clock.org: https://usdebtclock.org/#

National Debt: $27.2 Trillion ($218,452 per tax payer)

U.S. Federal Spending: $6.6 Trillion

U.S. Federal Tax Revenue: $ 3.4 Trillion

Total U.S. Debt: $85, Trillion

U.S. Total Interest Paid: $ 3.8 Trillion ($15,159 per adult)

Student Loan Debt: $ 1.7 Trillion ($39,377 per student)

Unfunded Federal Liabilities: $155.5 Trillion. (Liability per citizen $470,399)

State Debt: $1.2 Trillion

Credit Card Debt: $962,257,621,224 ($6,072 per holder)

Doesn't matter anything to me, since I don't have to pay it back. Maybe we can get ahold of Hunter Biden and let him hook us up with one last whoop de doo: Dump trucks full of crack cocaine and the most expensive whore that money can buy.

Crack rock on everyone's kitchen table and three whores in every bedroom. Wheee!

 

[xband]

Nixon sold most the gold in Ft. Knox to China but Nixon opened the door to China.

 

[MisterBeale]

. . . from the rumors I have been reading? I am not sure with what they have planned, I am not sure it really does.

 

[JGalt]

Nixon sold most the gold in Ft. Knox to China but Nixon opened the door to China.

Nixon only opened the door wide enough for everyone to have a peek. That shithead Bill Clinton was the one who threw the door wide open and let the little bastards swarm in.

May he die an agonizing death from ass cancer.

 

[xband]

Nixon sold most the gold in Ft. Knox to China but Nixon opened the door to China.

Nixon only opened the door wide enough for everyone to have a peek. That shithead Bill Clinton was the one who threw the door wide open and let the little bastards swarm in.

May he die an agonizing death from ass cancer.

I beg to differ with you, how old are you? Wild Bill shut down the Savanna River Plant, the only source of Tritium in the US.

 

[The Irish Ram]

It doesn't matter one bit. Here is why:

I owe you $100 dollars.
I will pay you in a million seconds. You will have your money in 12 days.
I will pay you in a billion seconds. You will have your money in 31 years.
I will pay you in a trillion seconds. You will have your money in 31,688 years.



20 trillion, 50 trillion, more, matters not. Default is inevitable. At this point we are barely able to make the interest payments on the money we borrow and then give away to everybody with a hand out. In fact, we are about to borrow more from China to help Asia kick our ass in marketing and GDP through the TPP.

 

[xband]

It doesn't matter one bit. Here is why:

I owe you $100 dollars.
I will pay you in a million seconds. You will have your money in 12 days.
I will pay you in a billion seconds. You will have your money in 31 years.
I will pay you in a trillion seconds. You will have your money in 31,688 years.



20 trillion, 50 trillion, more, matters not. Default is inevitable. At this point we are barely able to make the interest payments on the money we borrow and then give away to everybody with a hand out. In fact, we are about to borrow more from China to help Asia kick our ass in marketing and GDP through the TPP.

How many dollars stretched end to end, to reach Jupiter?