If you are one of the 164,997,000 that paid Federal taxes are you aware that $3,987.95 per person was used to

[healthmyths]

pay In 2023, the federal government's spending of $658 billion for interest costs on the national debt.

What Are Interest Costs on the National Debt?

Interest costs are on track to become the largest category of spending in the federal budget.

www.pgpf.org

...from 164,997,000 individual tax returns.
In total, net interest payments will total $12.4 trillion over the next decade.

How much money does the government collect per person?

The federal government collected $5.03 trillion in federal revenues in 2022, averaging out at $15,098 per person.

usafacts.org

So... if the national debt today is: $34,558,157,524,900 as of 4/27/24 at 9:40 AM CDT...

What Is the U.S. National Debt Right Now — and Why Is It So High?

See the latest numbers and learn more about the causes of our high and rising national debt.

www.pgpf.org

AND the net worth after expenses, of all the assets in the USA is ....
The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP).

Financial position of the United States - Wikipedia

en.wikipedia.org

What's the problem? The USA has 258% more assets AFTER paying off entirely the national debt of $34.5 Trillion.

 

[two_iron]

I can't imagine why this large country would be in financial ruin with THIS stolen-election, drooling fucktard running it....

 

[ColonelAngus]

Those fleecing the populaton are going to run this ship aground soon.

They do not care.

INTEREST ON DEBT NOW EXCEEDS MILITARY SPENDING?

GTFO.

 

[shockedcanadian]

The IRA was fantastic eh?

 

[Truth2Know]

INTEREST ON DEBT NOW EXCEEDS MILITARY SPENDING?

GTFO.

You're right. For 2024, the debt interest is projected to be only 67% of defense spending. It will take another Democratic administration term to push the percentage to more than 100%.

 

[Dragonlady]

You're right. For 2024, the debt interest is projected to be only 67% of defense spending. It will take another Democratic administration term to push the percentage to more than 100%.

It's not the Democrats who keep cutting government revenues (taxes), while increasing spending.

Republicans cannot continue to cut taxes, while running deficits. All that's lead to is a declining, debt ridden country, with crumbling infrastructure.

 

[g5000]

pay In 2023, the federal government's spending of $658 billion for interest costs on the national debt.

What Are Interest Costs on the National Debt?

Interest costs are on track to become the largest category of spending in the federal budget.

www.pgpf.org

...from 164,997,000 individual tax returns.
In total, net interest payments will total $12.4 trillion over the next decade.

How much money does the government collect per person?

The federal government collected $5.03 trillion in federal revenues in 2022, averaging out at $15,098 per person.

usafacts.org

So... if the national debt today is: $34,558,157,524,900 as of 4/27/24 at 9:40 AM CDT...

What Is the U.S. National Debt Right Now — and Why Is It So High?

See the latest numbers and learn more about the causes of our high and rising national debt.

www.pgpf.org

AND the net worth after expenses, of all the assets in the USA is ....
The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP).

Financial position of the United States - Wikipedia

en.wikipedia.org

What's the problem? The USA has 258% more assets AFTER paying off entirely the national debt of $34.5 Trillion.

And yet all you willfully blind tards were DEAD SILENT as Trump DOUBLED the deficit, with the FULL cooperation of a REPUBLICAN CONGRESS, and added $8 trillion to the debt in HALF the time it took Obama.

Your crocodile tears will not wash away your hypocrisy no matter how hard you scrub.

See JGalt's quote in my sig.

 

[Oddball]

 

[g5000]

The debt is owed to those who own the bonds.

Duh.

You're welcome.

 

[HikerGuy83]

There comes a time where there is no more money to borrow.

What happens then.

 

[g5000]

Japan is our largest foreign creditor. China is second.

We owe about $1.1 trillion to Japan, and about $860 billion to China.

Then comes the UK, Belgium, and Luxembourg.

Tiny little Luxembourg.

 

[HikerGuy83]

And yet all you willfully blind tards were DEAD SILENT as Trump DOUBLED the deficit, with the FULL cooperation of a REPUBLICAN CONGRESS, and added $8 trillion to the debt in HALF the time it took Obama.

Your crocodile tears will not wash away your hypocrisy no matter how hard you scrub.

See JGalt's quote in my sig.

Ex the last year of his presidency, he was better than Obama's average.

Additionally, there was something like 1.5 Trillion in cash on hand when he left office.

All you have to do is look at the yearly deficits to know he wasn't doing that bad.

His worst deficit before COVID was something like 950 Billion.

Biden is on track for 2.5 trillion this year alone.

And to clear this up, I was very critical of his 2019 deficit. Trump's successive deficits got larger and larger. I was angry about that, the same way I blame GWB for lighting the fuse on this powderkeg. That moron should be in jail for his lousy performance.

 

[g5000]

There comes a time where there is no more money to borrow.

What happens then.

Like potato chips, we'll make more.

If the holders of our debt lose faith in our ability to repay, they will demand higher interest rates on the debt. And then begins the death spiral.

 

[HikerGuy83]

Like potato chips, we'll make more.

If the holders of our debt lose faith in our ability to repay, they will demand higher interest rates on the debt. And then begins the death spiral.

It's not a matter of if, but when.

Especially when we have a Stuttering Incontinent Celery Stalk in the drivers seat.

 

[Foxfyre]

pay In 2023, the federal government's spending of $658 billion for interest costs on the national debt.

What Are Interest Costs on the National Debt?

Interest costs are on track to become the largest category of spending in the federal budget.

www.pgpf.org

...from 164,997,000 individual tax returns.
In total, net interest payments will total $12.4 trillion over the next decade.

How much money does the government collect per person?

The federal government collected $5.03 trillion in federal revenues in 2022, averaging out at $15,098 per person.

usafacts.org

So... if the national debt today is: $34,558,157,524,900 as of 4/27/24 at 9:40 AM CDT...

What Is the U.S. National Debt Right Now — and Why Is It So High?

See the latest numbers and learn more about the causes of our high and rising national debt.

www.pgpf.org

AND the net worth after expenses, of all the assets in the USA is ....
The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP).

Financial position of the United States - Wikipedia

en.wikipedia.org

What's the problem? The USA has 258% more assets AFTER paying off entirely the national debt of $34.5 Trillion.

No worries if Biden is re-elected. He plans to end Trump era tax reforms which will cut the standard deduction in half costing millions of Americans hundreds or thousands more in taxes, he will up the capital gains tax and go after our IRAs and 401ks, reinstate the death taxes, and add trillions in new taxes. It will be bllled as deficit and debt reduction of course, but not a penny of it will be used to pay down the debt which will grow faster than ever due to his trilions in climate change initiatives.

 

[g5000]

Ex the last year of his presidency, he was better than Obama's average.

Horseshit. Total horseshit. You were fed that bullshit by a gaslighting propagandists.

As I said before, Trump DOUBLED the deficit. BEFORE Covid.


Before Covid:
Trump Proposes a Record $4.75 Trillion Budget



During Covid:

Trump says he wants a bigger stimulus package than the $2.2 trillion amount that Democrats are seeking​

All you have to do is look at the yearly deficits to know he wasn't doing that bad.

BWA-HA-HA-HA-HA!

YOU should look at the yearly deficits. Trump DOUBLED the deficit he inherited.

His worst deficit before COVID was something like 950 Billion.

Biden is on track for 2.5 trillion this year alone.

Nope. That's a lie. A flat out lie

Deficit Tracker | Bipartisan Policy Center

Even as the U.S. economy expands, the federal government continues to run large and growing budget deficits that will soon exceed $1 trillion per…

bipartisanpolicy.org

In February, the Congressional Budget Office released its annual Budget and Economic Outlook and projected that the nation will run a $1.6 trillion deficit in FY2024.

Biden inherited a $2.7 trillion deficit.

Obama steadily lowered the deficit. Biden has been doing the same.

But Trump increased the deficit every year.

So, yeah. YOU should look at the yearly deficits.

Here you go: U.S. Budget Deficit by Year Compared to GDP and Debt

 

[g5000]

Ex the last year of his presidency, he was better than Obama's average.

Additionally, there was something like 1.5 Trillion in cash on hand when he left office.

All you have to do is look at the yearly deficits to know he wasn't doing that bad.

His worst deficit before COVID was something like 950 Billion.

Biden is on track for 2.5 trillion this year alone.

And to clear this up, I was very critical of his 2019 deficit. Trump's successive deficits got larger and larger. I was angry about that, the same way I blame GWB for lighting the fuse on this powderkeg. That moron should be in jail for his lousy performance.

1. Under Trump, the debt ceiling was raised twice Both raises were higher than any under Obama.

2. The debt ceiling was also entirely suspended twice under Trump, meaning no spending limit at all.

​

​

US budget deficit topped $1 trillion in 2019 for the first time in seven years​

You know how I have pointed out many times that our politicians increase spending to artificially increase GDP, since government spending is a major part of GDP?

Donald "I am the King of Debt" Trump promised 4 to 6 percent GDP growth. He never got close.

But look who radically increased government spending as a percentage of GDP, BEFORE Covid, and then crowed about GDP growth:

 

[candycorn]

Horseshit. Total horseshit. You were fed that bullshit by a gaslighting propagandists.

As I said before, Trump DOUBLED the deficit. BEFORE Covid.


Before Covid:
Trump Proposes a Record $4.75 Trillion Budget



During Covid:

Trump says he wants a bigger stimulus package than the $2.2 trillion amount that Democrats are seeking​

BWA-HA-HA-HA-HA!

YOU should look at the yearly deficits. Trump DOUBLED the deficit he inherited.



Nope. That's a lie. A flat out lie

Deficit Tracker | Bipartisan Policy Center

Even as the U.S. economy expands, the federal government continues to run large and growing budget deficits that will soon exceed $1 trillion per…

bipartisanpolicy.org

In February, the Congressional Budget Office released its annual Budget and Economic Outlook and projected that the nation will run a $1.6 trillion deficit in FY2024.

Biden inherited a $2.7 trillion deficit.

Obama steadily lowered the deficit. Biden has been doing the same.

But Trump increased the deficit every year.

So, yeah. YOU should look at the yearly deficits.

Here you go: U.S. Budget Deficit by Year Compared to GDP and Debt

Yeah; strange how the GOP got rid of the sequester after the blob oozed into office.

 

[HikerGuy83]

Horseshit. Total horseshit. You were fed that bullshit by a gaslighting propagandists.

Go fuck yourself. Nobody needs your self-righteous asswipe attitude.

These are the numbers I've used in my analysis. I have not looked at yours...if they are different I really don't care.

If you average trumps numbers, ex the big drop for COVID, they are slightly better than Obama.s That is simple math.

Biden's numbers have been five years below his 22 number which is I can't figure out given how the bad some things were.

And while the CBO started out the year projecting a 1.6 trillion dollar debt, he'd already crossed 1 Trillion by the first week of May.

National Debt Reaches $33 Trillion; Adds $1 Trillion to Debt in 3 Months | Committee for a Responsible Federal Budget

The gross national debt of the United States surpassed $33 trillion on Friday, just months after the federal government’s gross debt eclipsed $32 trillion on June 15, 2023.

www.crfb.org

The 2.5 trillion assumes that this somehow lessens.

I think I stated that I was not happy with Trumps steady increase and if that is the number you are using to say it has doubled, then you are correct. But even at being doubled, it's still better than Biden on an absolute scale.

 

[HikerGuy83]

1. Under Trump, the debt ceiling was raised twice Both raises were higher than any under Obama.

2. The debt ceiling was also entirely suspended twice under Trump, meaning no spending limit at all.

​

​

US budget deficit topped $1 trillion in 2019 for the first time in seven years​

You know how I have pointed out many times that our politicians increase spending to artificially increase GDP, since government spending is a major part of GDP?

Donald "I am the King of Debt" Trump promised 4 to 6 percent GDP growth. He never got close.

But look who radically increased government spending as a percentage of GDP, BEFORE Covid, and then crowed about GDP growth:

Did you ever hear me say that I was happy with Trump. I simply pointed out what the numbers I was looking at showed.

Bush lit the fuse. I thought the guy was a moron then. I had little respect for him. Now I have absolutlely nothing but contempt for the giant asshole. He took a positive surplus and a debt that was getting close to zero and screwed us royally and he had a GOP congress that was more than willing to help him along the way.