How much in debt are you.

[g5000]

I understand everything I am talking about. It's you who doesn't, sucker. If you pay for something with money you don't have, that increases our national debt.

Um...retard?

You have no clue what a trade deficit is. You think it means we owe money.

If I pay you $100 for your couch, and you pay me $10 for my Mr. Coffee, I have a $90 trade deficit with you.

I don't owe you anything.

Idiot.

 

[Toddsterpatriot]

What if our National Debt was 0. And the amount of money the U.S. had was also 0. But you personally had the ability to buy and pay for anything. Though making the U.S. responsible for paying for what you bought. And you bought a case of beer from Germany that cost 34 trillion dollars. Your buying that case of beer would put the U.S. 34 trillion dollars into debt.

Cool story.

Doesn't make your previous error magically correct.

 

[brainsee]

Um...retard?

You have no clue what a trade deficit is. You think it means we owe money.

If I pay you $100 for your couch, and you pay me $10 for my Mr. Coffee, I have a $90 trade deficit with you.

I don't owe you anything.

Idiot.

Apparently, you are beyond hope. I am talking about paying for something with money you don't have. So what if you didn't pay for that couch with $100 dollars. But you told that person you would owe them $100 for it. That would increase the debt you have.

 

[brainsee]

Cool story.

Doesn't make your previous error magically correct.

Yes it does. In an admittedly outlandish sort of way.

 

[Toddsterpatriot]

Yes it does. In an admittedly outlandish sort of way.

Doesn't, in a sadly retarded sort of way.

 

[Nobody911]

I was talking to my brother today. Who is a real Trumptard. We were talking about the national debt. He seemed to think that Trump could fix it. But we owe so much, it is impossible. Our trade deficit is around 34 trillion dollars. But the U.S. also has around another 200 trillion in unfunded obligations. To me, I don't see much difference between a debt and an obligation. So you may as well say that the U.S. is around 234 trillion in debt. There are around 335 million people in the U.S. That means that each person in the U.S. is in debt for around $698,000! Another problem with that is that there are only around 128 million working age adults in the U.S. Which would make paying off such an impossible figure even more impossible.

Also, there are varying estimates as to what our yearly trade imbalance is with China alone. I have seen estimates that ranged from 257 billion to about 420 billion. So each year we go even deeper into debt by that much just from "trade" with China. Which of course makes paying off such an impossible debt even more unlikely.

As you can guess from what I said earlier, I am definitely not a Trump supporter. But Biden's solution to this problem seems to be to let as many lowlife invaders from south of the border into the U.S. as he can. Maybe what we need is an amoral, psychopathic, would be dictator with delusions of grandeur as president. It seems to me that we couldn't do much worse.

US National Debt and Possibility of Paying it Off

The US national debt refers to the outstanding financial obligation of the country, representing the sum of past annual budget deficits. As of September 2023, the US national debt totaled $33.09 trillion. The debt is primarily held by the American public, followed by foreign governments, U.S. banks, and investors.

Paying off the US national debt is a complex and challenging task. While it is theoretically possible to pay off the debt, it would require significant efforts and measures. Here are some key points to consider:

1. Debt-to-GDP Ratio: The debt-to-GDP ratio is a measure of a country's national debt in relation to its gross domestic product (GDP). It provides an indicator of the debt's sustainability. Lowering the debt-to-GDP ratio can make the debt more manageable.

2. Budget Deficit: A budget deficit occurs when government spending exceeds revenue. To cover the deficit, the federal government borrows money by selling marketable securities such as Treasury bonds, bills, notes, and other instruments. Reducing the budget deficit can help prevent the debt from growing further.

3. Approaches to Debt Reduction: There are various approaches that can be taken to reduce the national debt. These include hiking taxes, slashing spending, and implementing other unorthodox and controversial measures However, eliminating the US government's debt is considered a Herculean task that could take decades.

4. Investor Confidence: The US government's ability to pay off its debt is closely tied to investor confidence. Suddenly paying off the debt could destroy investor confidence in the US and affect the willingness of investors to purchase Treasury bonds. Maintaining investor confidence is crucial for the stability of the US economy.

5. Economic Considerations: Economists like Paul Krugman argue that governments, unlike individuals, don't necessarily need to pay off their debts entirely. Governments have the ability to generate revenue over time, and the focus should be on managing the debt rather than completely paying it off.

In conclusion, while it is technically possible to pay off the US national debt, it would require significant efforts and measures. The debt reduction would involve a combination of reducing the budget deficit, managing the debt-to-GDP ratio, and implementing various fiscal policies. However, completely paying off the debt is considered a challenging task that could take decades to achieve.

Sources :

1. National Debt: Definition, Impact, and Key Drivers

2. What the National Debt Means to You

3. Fiscal Data Explains the National Debt

4. Ways The United States Can Get Out of Debt

5. https://www.quora.com/Is-it-nearly-...-How-could-the-government-theoretically-do-it

6. Here's why the US doesn't have to pay off its $31 trillion mountain of debt, according to Paul Krugman

 

[Dekster]

True. We have a fiat currency. But even then our national debt has consequences. Next, I already said that our national debt is to high to pay off. But even if we did, it would do nothing to exports. If some other country wants to buy something from us, as long as it is the same price, they will continue to do so. Unless they can get whatever cheaper someplace else.

Arab countries and others buy bonds to create long-term predictable inflows of American dollars they can use to buy American goods. No debt=no bonds=no dollars=significantly less US exports.

 

[The Duke]

I dont owe anyone anything, simply because nobody would lend me the time of day

~S~

People would loan me stuff, but I prefer to pay my own way.

I have no need of loans. Those cost interest!

 

[brainsee]

Doesn't, in a sadly retarded sort of way.

Apparently you don't have the ability to think.

 

[sparky]

I have no need of loans.

you do realize how 'unAmerican' we're living Duke....... ~S~

 

[Toddsterpatriot]

Apparently you don't have the ability to think.

Coming from the guy who posted all those errors, that means so much.

 

[brainsee]

US National Debt and Possibility of Paying it Off

The US national debt refers to the outstanding financial obligation of the country, representing the sum of past annual budget deficits. As of September 2023, the US national debt totaled $33.09 trillion. The debt is primarily held by the American public, followed by foreign governments, U.S. banks, and investors.

Paying off the US national debt is a complex and challenging task. While it is theoretically possible to pay off the debt, it would require significant efforts and measures. Here are some key points to consider:

1. Debt-to-GDP Ratio: The debt-to-GDP ratio is a measure of a country's national debt in relation to its gross domestic product (GDP). It provides an indicator of the debt's sustainability. Lowering the debt-to-GDP ratio can make the debt more manageable.

2. Budget Deficit: A budget deficit occurs when government spending exceeds revenue. To cover the deficit, the federal government borrows money by selling marketable securities such as Treasury bonds, bills, notes, and other instruments. Reducing the budget deficit can help prevent the debt from growing further.

3. Approaches to Debt Reduction: There are various approaches that can be taken to reduce the national debt. These include hiking taxes, slashing spending, and implementing other unorthodox and controversial measures However, eliminating the US government's debt is considered a Herculean task that could take decades.

4. Investor Confidence: The US government's ability to pay off its debt is closely tied to investor confidence. Suddenly paying off the debt could destroy investor confidence in the US and affect the willingness of investors to purchase Treasury bonds. Maintaining investor confidence is crucial for the stability of the US economy.

5. Economic Considerations: Economists like Paul Krugman argue that governments, unlike individuals, don't necessarily need to pay off their debts entirely. Governments have the ability to generate revenue over time, and the focus should be on managing the debt rather than completely paying it off.

In conclusion, while it is technically possible to pay off the US national debt, it would require significant efforts and measures. The debt reduction would involve a combination of reducing the budget deficit, managing the debt-to-GDP ratio, and implementing various fiscal policies. However, completely paying off the debt is considered a challenging task that could take decades to achieve.

Sources :

1. National Debt: Definition, Impact, and Key Drivers

2. What the National Debt Means to You

3. Fiscal Data Explains the National Debt

4. Ways The United States Can Get Out of Debt

5. https://www.quora.com/Is-it-nearly-...-How-could-the-government-theoretically-do-it

6. Here's why the US doesn't have to pay off its $31 trillion mountain of debt, according to Paul Krugman

Did you have a point to make? You posted a buttload of nonsense. I told you what each and every American owes. That is with the national debt and unfunded obligations combined. It is an amount too large to be paid off. And as far as unfunded obligations go, how do they get funded? Well when you don't have the money to begin with, the only way is to go even deeper into debt.

So let's just dismiss all the goolbdygook you posted. How do you actually get rid of the national debt and fund those unfunded obligations? Well the answer is simple. Dump the dollar and start afresh with a new currency. That is basically what Hitler did to turn Germany's economic woes around and turn Germany's economy into the greatest economy in the world. He basically dumped the Reichsmark and created a fiat currency centered around what were called Mefo bills. To make it sustainable, there is another important step to be taken. Make "free trade" illegal and switch to fair trade.

 

[Toddsterpatriot]

That is with the national debt and unfunded obligations combined. It is an amount too large to be paid off. And as far as unfunded obligations go, how do they get funded?

Don't forget the unfunded assets.

 

[brainsee]

Arab countries and others buy bonds to create long-term predictable inflows of American dollars they can use to buy American goods. No debt=no bonds=no dollars=significantly less US exports.

Where did you ever learn that garbage. Arab countries don't need anything to create a predictable inflow of American dollars. Or to buy American goods. They already have such a thing. It is called oil. And with the money they get from that, they can simply buy out other countries. The band Genesis did an album with a title of how that happens. It is called, "Selling England By The Pound."

 

[brainsee]

Don't forget the unfunded assets.

If you have an asset of a gold coin in your pocket, is it unfunded? How about you just stop talking.

 

[Toddsterpatriot]

If you have an asset of a gold coin in your pocket, is it unfunded? How about you just stop talking.

If I give my kid a $1 trillion IOU, should I be worried about my unfunded liability?

 

[The Duke]

If I give my kid a $1 trillion IOU, should I be worried about my unfunded liability?

Kind of, because that would make you dishonest.

 

[The Duke]

you do realize how 'unAmerican' we're living Duke....... ~S~

I just don't see it that way.

 

[Harpy Eagle]

It means we have already transferred our wealth to China in the amount of that trade deficit.

No, it means we have exchanged some of our wealth for something they have to offer. No different than when you go to the grocery store or pay someone to mow your grass.

 

[brainsee]

If I give my kid a $1 trillion IOU, should I be worried about my unfunded liability?

To hell with your kid. What if you gave some adult a 1 trillion IOU. And you not only had the money to pay him, but you were legally obliged to do so. Would you then be worried about your unfunded liability?