The US National Debt goes up $3,000,000 every minute.

[Brain357]

Well dems do a fairly good job at that as well, especially to their preferred monopolies and in form of subsidies, etc.

What do you mean?

 

[Stryder50]

The other side of the coin that was your post.

Take the 2008 financial crisis, resulting from the unsecured home loans that the dems forced the banks to give out, which then resulted in a wave of defaults. Bush Jr. asked for more Fed debt to bail out some corps and by the time MaObama is sworn in, only half of the amount requested had been needed. The rest could have been returned, reducing what was being borrowed from the taxpayers.

Instead, MaObama made sure the unused balance was spent, mostly to the aid of the labor monopolies, a.k.a. unions.

BTW, what do think happens to the money you invest into an IRA, 401K or a union pension???
Assuming you even do any investment of that sort.

 

[jbrownson0831]

That's my estimate, give or take a few hundred thousand.

Pushing $28 trillion as we speak.....Pretty staggering.

https://www.usdebtclock.org/#

What's almost funny, is most people are clueless about how much a trillion dollars actually is....

It would fit in my basement since nobody is hiding down there with facediapers on.

 

[Brain357]

The other side of the coin that was your post.

Take the 2008 financial crisis, resulting from the unsecured home loans that the dems forced the banks to give out, which then resulted in a wave of defaults. Bush Jr. asked for more Fed debt to bail out some corps and by the time MaObama is sworn in, only half of the amount requested had been needed. The rest could have been returned, reducing what was being borrowed from the taxpayers.

Instead, MaObama made sure the unused balance was spent, mostly to the aid of the labor monopolies, a.k.a. unions.

BTW, what do think happens to the money you invest into an IRA, 401K or a union pension???
Assuming you even do any investment of that sort.

You seem to have missed my point. People care about debt when taxes increase. Repubs give out tax cuts so people just don’t care.

 

[Stryder50]

The other side of the coin that was your post.

Take the 2008 financial crisis, resulting from the unsecured home loans that the dems forced the banks to give out, which then resulted in a wave of defaults. Bush Jr. asked for more Fed debt to bail out some corps and by the time MaObama is sworn in, only half of the amount requested had been needed. The rest could have been returned, reducing what was being borrowed from the taxpayers.

Instead, MaObama made sure the unused balance was spent, mostly to the aid of the labor monopolies, a.k.a. unions.

BTW, what do think happens to the money you invest into an IRA, 401K or a union pension???
Assuming you even do any investment of that sort.

You seem to have missed my point. People care about debt when taxes increase. Repubs give out tax cuts so people just don’t care.

Fair enough since you seem to have missed my point to begin with.
People also care about Debt when it inflates and/or devalues the currency.
I've noticed that what the lefties call "tax cuts" are usually legitimate expenses and exemptions from what would be the taxable income level.
You sound like someone whom pays little to no taxes and likely hasn't owned or operated a business, in short a bit clueless on basic economics.
Ramble on all you wish, I'm not wasting more time responding

 

[Brain357]

The other side of the coin that was your post.

Take the 2008 financial crisis, resulting from the unsecured home loans that the dems forced the banks to give out, which then resulted in a wave of defaults. Bush Jr. asked for more Fed debt to bail out some corps and by the time MaObama is sworn in, only half of the amount requested had been needed. The rest could have been returned, reducing what was being borrowed from the taxpayers.

Instead, MaObama made sure the unused balance was spent, mostly to the aid of the labor monopolies, a.k.a. unions.

BTW, what do think happens to the money you invest into an IRA, 401K or a union pension???
Assuming you even do any investment of that sort.

You seem to have missed my point. People care about debt when taxes increase. Repubs give out tax cuts so people just don’t care.

Fair enough since you seem to have missed my point to begin with.
People also care about Debt when it inflates and/or devalues the currency.
I've noticed that what the lefties call "tax cuts" are usually legitimate expenses and exemptions from what would be the taxable income level.
You sound like someone whom pays little to no taxes and likely hasn't owned or operated a business, in short a bit clueless on basic economics.
Ramble on all you wish, I'm not wasting more time responding

I disagree. Nobody cares about that .

Tea party screamed about debt till they got tax cuts...

 

[Brain357]

The other side of the coin that was your post.

Take the 2008 financial crisis, resulting from the unsecured home loans that the dems forced the banks to give out, which then resulted in a wave of defaults. Bush Jr. asked for more Fed debt to bail out some corps and by the time MaObama is sworn in, only half of the amount requested had been needed. The rest could have been returned, reducing what was being borrowed from the taxpayers.

Instead, MaObama made sure the unused balance was spent, mostly to the aid of the labor monopolies, a.k.a. unions.

BTW, what do think happens to the money you invest into an IRA, 401K or a union pension???
Assuming you even do any investment of that sort.

You seem to have missed my point. People care about debt when taxes increase. Repubs give out tax cuts so people just don’t care.

Fair enough since you seem to have missed my point to begin with.
People also care about Debt when it inflates and/or devalues the currency.
I've noticed that what the lefties call "tax cuts" are usually legitimate expenses and exemptions from what would be the taxable income level.
You sound like someone whom pays little to no taxes and likely hasn't owned or operated a business, in short a bit clueless on basic economics.
Ramble on all you wish, I'm not wasting more time responding

You don’t really care about debt, you care about taxes. That is my point.

 

[Stryder50]

You don't know me, obviously ... don't try to put words or concepts "into my mouth" that didn't come from there.

I care about ~ I have kids and grandkids so am vested into the future generations, whom are being burdened with the Debt resulting from Deficit.

Despite the old adage: "Only two things in life are certain, death and taxes."; I don't support excess taxes, especially for non-essentials, or items not mandated to guv'mint by the Constitutions.

I also don't support fiscal irresponsibility, so guv'mint should not spend more than it can responsibly pay for via revenue/taxes, however taxes should be kept as low and necessary, but not be treated as a growth industry.

If there are going to be taxes, all should share and pay proportionately, but no slice of society should be singled out for excessive abuse on the tax obligation. While in principle I'd support a "flat tax rate/percent" that will be a bit disproportionate to the lower income levels. On the other hand, too high and excessive a tax on the upper income brackets kills their ability to fund and capitalize increased wealth(business) expansion and opportunities, hence become counter productive in both the short and long runs.

 

[Brain357]

You don't know me, obviously ... don't try to put words or concepts "into my mouth" that didn't come from there.

I care about ~ I have kids and grandkids so am vested into the future generations, whom are being burdened with the Debt resulting from Deficit.

Despite the old adage: "Only two things in life are certain, death and taxes."; I don't support excess taxes, especially for non-essentials, or items not mandated to guv'mint by the Constitutions.

I also don't support fiscal irresponsibility, so guv'mint should not spend more than it can responsibly pay for via revenue/taxes, however taxes should be kept as low and necessary, but not be treated as a growth industry.

If there are going to be taxes, all should share and pay proportionately, but no slice of society should be singled out for excessive abuse on the tax obligation. While in principle I'd support a "flat tax rate/percent" that will be a bit disproportionate to the lower income levels. On the other hand, too high and excessive a tax on the upper income brackets kills their ability to fund and capitalize increased wealth(business) expansion and opportunities, hence become counter productive in both the short and long runs.

But yes you do support fiscal irresponsibility. Again, people only care about debt if their taxes increase. If you support cutting taxes when deeply in debt, you are fueling debt. I'm all for low taxes, but not when we are trillions in debt. Only way to decrease debt is to increase taxes. Not to create more revenue, but to make it politically unacceptable to increase spending. Trump cut taxes and drastically increased spending. Nobody cared about the spending cause they were distracted by the shiny object which was tax cuts. Had trump increased taxes, it wouldn't have been politically possible to increase spending. Deficits would have decreased. Every single time repubs cut taxes, deficits increase drastically.

 

[Sunsettommy]

The national debt has increased by almost 36% since Trump took office

•••
Table of Contents

• The National Debt Under Trump
• How Will Trump Reduce the Debt?
• Trump's Business Debt
• How the National Debt Affects You

BY
KIMBERLY AMADEO
REVIEWED BY
MICHAEL J BOYLE
Updated October 15, 2020
During the 2016 presidential campaign, Republican candidate Donald Trump promised he would eliminate the nation’s debt in eight years.1 Instead, his budget estimates showed that he would actually add at least $8.3 trillion, increasing the U.S. debt to $28.5 trillion by 2025.2 However, the national debt may reach that figure much sooner. When President Trump took office in January 2017, the national debt stood at $19.9 trillion. In October 2020, the national debt reached a new high of $27 trillion.

That's an increase of almost 36% in less than four years.
President Trump's Impact on the National Debt (thebalance.com)

The partisan lies people make is pathetic.

It was the Democrats from the 1930's onward who created the now massive Entitlement budget mess that is about 68% of the entire budget and GROWING. Trump has nothing to do with it, just like Obama, Bush, Clinton since none of them can control the main cause of the deficits. The true blame are the CONGRESS and all of it democrats since they created all of the entitlement bills that now drives up the debt today.

Now with a Democrat control of the Congress and the Presidency, they are proposing a 1.9 TRILLION stimulus bill. (ALL of it Fiat money and all of it as debt) ... and you have the gall to pick on Trumps debts...

The real problem is out of control spending by Congress, a habit going back many decades.

 

[P F Tinmore]

Congress has the authority to create all the money we need. We don't have to pay interest and we don't have to pay it back. So why are we borrowing it?

 

[Brain357]

The national debt has increased by almost 36% since Trump took office

•••
Table of Contents

• The National Debt Under Trump
• How Will Trump Reduce the Debt?
• Trump's Business Debt
• How the National Debt Affects You

BY
KIMBERLY AMADEO
REVIEWED BY
MICHAEL J BOYLE
Updated October 15, 2020
During the 2016 presidential campaign, Republican candidate Donald Trump promised he would eliminate the nation’s debt in eight years.1 Instead, his budget estimates showed that he would actually add at least $8.3 trillion, increasing the U.S. debt to $28.5 trillion by 2025.2 However, the national debt may reach that figure much sooner. When President Trump took office in January 2017, the national debt stood at $19.9 trillion. In October 2020, the national debt reached a new high of $27 trillion.

That's an increase of almost 36% in less than four years.
President Trump's Impact on the National Debt (thebalance.com)

The partisan lies people make is pathetic.

It was the Democrats from the 1930's onward who created the now massive Entitlement budget mess that is about 68% of the entire budget and GROWING. Trump has nothing to do with it, just like Obama, Bush, Clinton since none of them can control the main cause of the deficits. The true blame are the CONGRESS and all of it democrats since they created all of the entitlement bills that now drives up the debt today.

Now with a Democrat control of the Congress and the Presidency, they are proposing a 1.9 TRILLION stimulus bill. (ALL of it Fiat money and all of it as debt) ... and you have the gall to pick on Trumps debts...

The real problem is out of control spending by Congress, a habit going back many decades.

The real problem is tax cuts. People don’t care about debt, they care about taxes. Trump cutting taxes opened the door for massive spending increases. The tea party disappeared with the tax cuts.