The Coming Gold Standard?

[expat_panama]

Irrelevant....

Let's see, it's irrelevant now even though it was worth mentioning earlier. Whatever.

...Debt service payments are taking up a higher percentage of the federal budget every year...

How about we say that this has been true for the past 3 years. Before that it was going down. The record was during the Bill Clinton era when it went up over 15%, which means debt service % budget is lower now than it was 3 decades ago.

 

[Natural Citizen]

There's not enough gold to back the debt now. lol...

 

[jwoodie]

How about we say that this has been true for the past 3 years.

How about we say that this has been true for the past 10 years, during which the national debt has doubled? And 30 years ago, the national debt was 60% of GDP. Now it is 120% of GDP.

 

[expat_panama]

How about we say that this has been true for the past 10 years, during which the national debt has doubled? And 30 years ago, the national debt was 60% of GDP. Now it is 120% of GDP.

OK, anyone can believe whatever they want and you can change the subject from percent budget to percent gdp. Enjoy.

Meanwhile what I'm familiar with is going w/ the hard numbers, and I was working with....

...Debt service payments are taking up a higher percentage of the federal budget every year...

--and that was true from 2022 to 2023 and is probably true now. However, the percent fell from 2021 to 2022 and I was saying that 2022, 2023, to 2024 was the 3 years where perhaps we could agree. The numbers are here--

--if you care about hard numbers. If not, cheers!

 

[expat_panama]

There's not enough gold to back the debt now. lol...

Not enough gold that's been mined but there's still plenty in the earth's crust.

 

[jwoodie]

Not enough gold that's been mined but there's still plenty in the earth's crust.

Irrelevant.

 

[expat_panama]

Irrelevant.

your saying "irrelevant" is not relevant.