Our National Debt, spending addiction and deficit spending is problem 1

[Moonglow]

The budget for 2021 was created under Tump

 

[Stryder50]

I don't have time to waste on those who aren't ready.

In other words, you don't have terms and "explanations" objective or real enough to support your partisan~political bias and opinions.

Gotch ya!

 

[Stryder50]

The debt problem is massive. And I believe I already addressed the fact that the quoted debt fails to include the unfunded mandates.

that latter figure is much larger than the one I had seen from just a short time earlier.

and I’m guessing that not only will it jot get better, it will continue to et worse.

I'm not denying nor objecting to your basic OP; just refining the numbers and data to more correct amounts~scale.

 

[BackAgain]

I'm not denying nor objecting to your basic OP; just refining the numbers and data to more correct amounts~scale.

It’s all good.

I took it as such. As I say, the numbers are getting bigger and we’re massive already.

 

[Stryder50]

The budget for 2021 was created under Tump

CORRECTION!

If you know and understand the Constitution of the USA, the Federal Budget is set by Congress and the POTUS either signs off on and approves, or doesn't.

In the Fall of 2020, at the end of October and the Federal Fiscal Year, our Congress submitted to Trump a Budget much larger than he requested and placed him in a conundrum of either sign-off/approve or decline to sign-off and result in a Federal Guv'mint shut-down which meant that by Nov.1, most Agencies/Depts would be unfunded and their staff/employees out of work/jobs.

Trump's request to Congress had been for a Budget much smaller than submitted, and he was faced with a choice to decline and shut-down/unfund most of the Federal Guv'mint, or give in to blackmail~duress to sign-off on something he'd rather not approve.

Rather than subject the Nation to a Federal Guv'mint closure and "shut-down", He opted to sign-off under duress and keep things going/flowing.

Many of us were ready to ride-out a brief closure and shut-down of the Fed., but too many others would have used this to the detriment of the Nation,especially at a time of national elections, so hence we support the path of least disruption, even though it continues the trend of further Deficit and Debt, which have long term negative consequences.

 

[g5000]

There is a current claim, repeated by the media, that our national debt is $28.08 TRILLION.
View attachment 569687
At this point and noting the accelerating rate of deficit spending, the proportion of payment of just interest on the debt to “revenues” is unquestionably going to become much much larger. Like a person who can’t handle their own household budget, the government will “borrow” ever more just to pay interest. Of course, the government will probably in just “print” money but this makes each dollar increasingly less valuable. (And some will tell us that inflation isn’t a big deal.

Now consider, the $28 TRILLION DEBT figure is phony. It doesn’t include unfunded mandates like pensions. Anyone care to take a stab at THAT one?

You Think The Deficit Is Bad? Federal Unfunded Liabilities Exceed $127 Trillion

The federal unfunded liabilities are catastrophic for future taxpayers and economic growth.

www.forbes.com

I know that most liberals and progressives and economic authorities like AOC will dismiss this as pure right wing hysteria, but for reasonable people, I suggest that our addiction to spending and debt and deficit spending is the most urgent problem we face as a nation.

Thank you. I've been saying the same thing for a very long time.

Our debt is a threat to national security and the future of our economy. Nothing is more critical than this issue.
'

 

[g5000]

Trump Proposes a Record $4.75 Trillion Budget

 

[g5000]

Who was it who stated “Reagan proved deficits don’t matter”?

Dick Cheney, during the 2000 campaign.

 

[BackAgain]

I don’t care which Party does it. It is wrong. It is dangerous. The imbecile doofus presently drooling in the Oval Office is already presiding over a larger pot of deficit spending and indifferent to the damage. That senile fucktard probably doesn’t even grasp it.

 

[g5000]

An updated maxim:

“A trillion here. A trillion there. Pretty soon we’re talking ‘real money.’ “

I believe it was Senator Proxmire who first said something along those lines — albeit in those days he was talking about Billions.

The quote has been attributed to Senator Everett Dirksen, but he was misquoted.

 

[BackAgain]

The quote has been attributed to Senator Everett Dirksen, but he was misquoted.

Ok. I don’t care. The underlying point stands all the same.

 

[Stryder50]

You are coming dangerously close to underscoring why our pal from Canuckistan is so eager to avoid defining his terms.

in the void he creates by his lack of scholarship and balls, you have deftly managed to show that “income equality” has a flip side. I haven’t seen the term “debt equality” before. Nice turn of phrase!

Often times when I see a strange term like the lib plaything “income inequality,” I try to solidify it by asking what it’s antithesis might be. I thought of “income equality.” That was met with the liberals’ wailing and gnashing of teeth. They did not like that one. Not. One. Little. Bit.

“No. No,” I was told. I just didn’t “grasp” what they were saying. True enough, I suppose. So, I asked. And guess what? Just like the ball-less Donald H, they generally shy away from anything that would demand a simple declarative definition. To many liberals and progressives, words have too much power in their propaganda to ever allow words to be subjected to precise meanings, after all.

Our "Canadian friend" displays the usual configuration of most Leftists/Regressives of showing/revealing little about his-self. Click his name, and then his Profile and note all he has Integrity, Honesty, balls, to admit is he might be "male~65 years of age ~"Canadian".

For all we know, this might apply to him;

Meanwhile, we are left with the common canard of the Leftist~Regressives that all persons, being equal in potential, should mean equal in results. Nevermind that they are not of equal skillsets or values to employers and many are barely worth what they do get paid.

 

[g5000]

The budget for 2021 was created under Tump

The infrastructure bill and the Build Back Better Act were not.

 

[g5000]

The higher our debt goes, the more our GDP growth will be suppressed. A simple economic fact.

https://www.cato.org/cato-journal/fall-2021/impact-public-debt-economic-growth

The study finds that, across both advanced and emerging economies, high debt‐to‐GDP levels (90 percent and greater) are associated with notably less growth. Countries with debt‐to‐GDP ratios greater than 90 percent have median growth roughly 1.5 percent lower than that of the less‐debt‐burdened groups and mean growth almost 3 percent lower.

We crossed that threshold around 2000.



The results reveal that a 1 percentage point increase in the ratio of government debt to GDP would reduce real GDP growth by about 0.01 percentage point, while a 1 percentage point increase in the ratio of government consumption to GDP leads to a decline in real economic growth of about 0.1 percentage point, on average across countries. In terms of policy recommendations, restrictions on government debt are shown to be more important in preventing negative growth effects for countries with higher trade openness, lower inflation, or higher financial depth.


What this has caused is a snake-swallowing-its-tail effect. As our GDP growth is suppressed by more and more debt, our politicians have to artificially juice GDP by more government spending, which leads to more GDP growth suppression, which leads to even more government spending, ad infinitum until it all comes crashing down.



Gross Domestic Product - GDP

GDP includes all private and public consumption, government outlays, investments, private inventories, paid-in construction costs and the foreign balance of trade (exports are added, imports are subtracted). Put simply, GDP is a broad measurement of a nation’s overall economic activity – the godfather of the indicator world.

<snip>

A country's gross domestic product can be calculated using the following formula: GDP = C + G + I + NX. C is equal to all private consumption, or consumer spending, in a nation's economy, G is the sum of government spending, I is the sum of all the country's investment, including businesses capital expenditures and NX is the nation's total net exports, calculated as total exports minus total imports (NX = Exports - Imports).


By increasing government spending more and more, our politicians are juicing GDP growth. This is an insane cycle of destruction.

 

[Stryder50]

Of course the man who started all of the runaway deficit spending is Reagan. I know, somehow, congressional democrats will be blamed but in our system, the President signs off on every penny spent unless his veto is over-ridden.

Anyone who becomes President recalls how Reagan's spending is ignored and he is remembered favorably. So there is no political downside to the spending.

You need to look back several more decades to the 1930s and FDR (Franklin D. Roosevelt's) time of the "New Deal" and a few years later "Arsenal of Democracy" Agendas/Budgets to better understand the growth of USA Deficit/Debt Growth Track on the National Budget.

It was the efforts of the Regressive Democrat FDR that set the pattern of future growth in USA National Deficit/Debt to sustain USA Domination in Global Affairs and Events.

Not that USA Political Party factions~dominations are a major Factor compared to those of the International Banker Interests / Influences as what really matter. ....

 

[Stryder50]

Depending on sources, they often fail to reflect the factor of dollar inflation~value; still, the following graphs/charts and links give a rough gauge on the growth of National Deficit/Debt over the last few(4) Decades, regardless of Party/POTUS ruling Factions...

1980 - USA National Debt (Reagan has won the election but yet in Office)
@$ 928 BILLION ...

U.S. National Debt Clock 1980

www.usdebtclock.org

1990 - USA National Debt @ $3,178 TRILLION...

U.S. National Debt Clock 1990

www.usdebtclock.org

2000 - USA National Debt = @ $6,543 Trillion ...

U.S. National Debt Clock 2000

www.usdebtclock.org

2004 - USA National Debt = @ $ 7,547 Trillion ....

U.S. National Debt Clock 2000

www.usdebtclock.org

2008 - USA National Debt = @ $ 10,950 Trillion ...

U.S. National Debt Clock 2008

www.usdebtclock.org

2012 - USA National Debt = @ $ 15,922 ... Trillion ...

U.S. National Debt Clock 2012

www.usdebtclock.org

2016 - USA National Debt = @ $ 20,155,+ Trillion ...

U.S. National Debt Clock 2016

2021 - USA National Debt = @ $ 28,999, ...+ Trillion ...

https://www.usdebtclock.org/index.html

Between Inflation and incremental growths, we approach @ $ 47,923+ ... by 2025 at current rates;

https://www.usdebtclock.org/current-rates.html

 

[Winston]

It's 9% moron, stop talking and embarrassing yourself.

Damn but you guys are mathematically challenged. 3/60 = .05

 

[BluesLegend]

Damn but you guys are mathematically challenged. 3/60 = .05

Your Covid spending spree is not part of the budget knucklehead.

 

[Dragonlady]

There is a current claim, repeated by the media, that our national debt is $28.08 TRILLION.
View attachment 569687
At this point and noting the accelerating rate of deficit spending, the proportion of payment of just interest on the debt to “revenues” is unquestionably going to become much much larger. Like a person who can’t handle their own household budget, the government will “borrow” ever more just to pay interest. Of course, the government will probably in just “print” money but this makes each dollar increasingly less valuable. (And some will tell us that inflation isn’t a big deal.

Now consider, the $28 TRILLION DEBT figure is phony. It doesn’t include unfunded mandates like pensions. Anyone care to take a stab at THAT one?

You Think The Deficit Is Bad? Federal Unfunded Liabilities Exceed $127 Trillion

The federal unfunded liabilities are catastrophic for future taxpayers and economic growth.

www.forbes.com

I know that most liberals and progressives and economic authorities like AOC will dismiss this as pure right wing hysteria, but for reasonable people, I suggest that our addiction to spending and debt and deficit spending is the most urgent problem we face as a nation.

The simple solution to the problem is to decrease defense spending and increase revenues. Problem solved.

 

[BackAgain]

The simple solution to the problem is to decrease defense spending and increase revenues. Problem solved.

“Revenues” is the taking of our earned money. There may well be a rational basis to decrease defense spending. But it’s far from a simple solution.

We wouldn’t be in this mess if we had paid the slightest bit of attention to the actual Constitutional constraints of a government of limited authority and enumerated powers. Strangely enough our common defense is part of the enumerated powers.