The US Spent A Record $523 Billion On Debt Interest In Fiscal 2018

[edward37]

how much have we paid into our defense WHO HAS PAID MORE ?? come on blues let you and the other ah's republicans educate me

Given your posts, that's not a reasonable expectation.

I expected blues to answer first not one of the others ,,But thank you

 

[Dont Taz Me Bro]

About half or so of that is attributable to the money borrowed by every president from Washington to Bush---and the other half or so is attributable to money borrowed by the Socialist Liar Barack Obama.

And his Republican Congress

 

[kyzr]

The top tax rate needs to increase to pay the bills. The GOP is playing with fire if they think their majorities are safe. If the GOP is holding the bag when the Debt crushes the economy they will be a minority for a long time.

 

[miketx]

The top tax rate needs to increase to pay the bills. The GOP is playing with fire if they think their majorities are safe. If the GOP is holding the bag when the Debt crushes the economy they will be a minority for a long time.

Nope, politicians need to quit spending on useless programs and other areas. CUT SPENDING!

 

[edward37]

About half or so of that is attributable to the money borrowed by every president from Washington to Bush---and the other half or so is attributable to money borrowed by the Socialist Liar Barack Obama.

And his Republican Congress

And I guess recovering from a great recession ,,almost a depression, had nothing to do with expenditures?

 

[mikegriffith1]

Wait a minute! Team Obama assured us for eight years that big deficits and huge debt were "investments in our future." I can't count how many discussions with Dems here where they dismissed concerns about the debt and the deficit and argued that these were "long overdue investments," etc., etc.

 

[miketx]

About half or so of that is attributable to the money borrowed by every president from Washington to Bush---and the other half or so is attributable to money borrowed by the Socialist Liar Barack Obama.

And his Republican Congress

And I guess recovering from a great recession ,,almost a depression, had nothing to do with expenditures?

It does when liberals want it to.

 

[DOTR]

'Earlier this week, when the US closed fiscal 2018 on September 30, we reported that US gross national debt jumped by $84 billion on September 28, the last business day of fiscal year 2018; with this last push higher, total gross national debt in fiscal 2018 rose by $1.271 trillion to an all time record of $21.52 trillion.

What is more stunning, is that only six months ago, on March 16, it had for the first time risen above the $21-trillion mark, while a year ago, at the end of September 2017, it was just $20.2 trillion.

The reason for the soaring debt total is, of course, the runaway US budget deficit, which while providing a temporary sugar rush to the US economy comes at a cost of explosive debt. As a reminder, one month ago, the CBO revised its forecast, and now expects the deficit will approach $1 trillion by the end of this fiscal year or one year sooner than disclosed in the CBO's most recent forecast; in April the agency didn’t expect the deficit to reach $1 trillion until 2020.'

The US Spent A Record $523 Billion On Debt Interest In Fiscal 2018


Who do I blame? The average American voter who keeps putting pathetic people in power who refuse to stop spending like drunken sailors.
But will the average voter blame themselves? Not a chance...they will just blame whichever party they don't like.
Morons.
Both Trumpbots AND Obamabots AND GWBushbots (at least Clinton - that sexual freak - tried to balance the budget). You are a bunch of pathetic, political morons.

Trump says he will never sign such a budget again. We will see.

 

[Thinker101]

big deficits and huge debt were "investments in our future." - Bing video

 

[edward37]

'Earlier this week, when the US closed fiscal 2018 on September 30, we reported that US gross national debt jumped by $84 billion on September 28, the last business day of fiscal year 2018; with this last push higher, total gross national debt in fiscal 2018 rose by $1.271 trillion to an all time record of $21.52 trillion.

What is more stunning, is that only six months ago, on March 16, it had for the first time risen above the $21-trillion mark, while a year ago, at the end of September 2017, it was just $20.2 trillion.

The reason for the soaring debt total is, of course, the runaway US budget deficit, which while providing a temporary sugar rush to the US economy comes at a cost of explosive debt. As a reminder, one month ago, the CBO revised its forecast, and now expects the deficit will approach $1 trillion by the end of this fiscal year or one year sooner than disclosed in the CBO's most recent forecast; in April the agency didn’t expect the deficit to reach $1 trillion until 2020.'

The US Spent A Record $523 Billion On Debt Interest In Fiscal 2018


Who do I blame? The average American voter who keeps putting pathetic people in power who refuse to stop spending like drunken sailors.
But will the average voter blame themselves? Not a chance...they will just blame whichever party they don't like.
Morons.
Both Trumpbots AND Obamabots AND GWBushbots (at least Clinton - that sexual freak - tried to balance the budget). You are a bunch of pathetic, political morons.

Trump says he will never sign such a budget again. We will see.

and trump lies only when he opens his mouth

 

[sartre play]

Waiting for the other shoe to drop.

 

[kyzr]

The top tax rate needs to increase to pay the bills. The GOP is playing with fire if they think their majorities are safe. If the GOP is holding the bag when the Debt crushes the economy they will be a minority for a long time.

Nope, politicians need to quit spending on useless programs and other areas. CUT SPENDING!

NOPE. There is nowhere to cut except defense and education, tell me you support that? There aren't programs with big bucks that cutting would help.

IMHO the entitlements need to be revised, with the fixes being well known. If they aren't fixed soon they will be bankrupt.

 

[DOTR]

and trump lies only when he opens his mouth

And every time his foot moves he kicks your ass.

 

[miketx]

The top tax rate needs to increase to pay the bills. The GOP is playing with fire if they think their majorities are safe. If the GOP is holding the bag when the Debt crushes the economy they will be a minority for a long time.

Nope, politicians need to quit spending on useless programs and other areas. CUT SPENDING!

NOPE. There is nowhere to cut except defense and education, tell me you support that? There aren't programs with big bucks that cutting would help.

IMHO the entitlements need to be revised, with the fixes being well known. If they aren't fixed soon they will be bankrupt.

What entitlements?

 

[kyzr]

The top tax rate needs to increase to pay the bills. The GOP is playing with fire if they think their majorities are safe. If the GOP is holding the bag when the Debt crushes the economy they will be a minority for a long time.

Nope, politicians need to quit spending on useless programs and other areas. CUT SPENDING!

NOPE. There is nowhere to cut except defense and education, tell me you support that? There aren't programs with big bucks that cutting would help.

IMHO the entitlements need to be revised, with the fixes being well known. If they aren't fixed soon they will be bankrupt.

What entitlements?

Social security and MediCare make up ~50% of the Federal Budget. With the Debt projected to hit $30T by 2024

As the chart below shows, three major areas of spending each make up about one-fifth of the budget: Social Security: Last year, 24 percent of the budget, or $916 billion, paid for Social Security, which provided monthly retirement benefits averaging $1,360 to 41 million retired workers in December 2016. MediCare costs slightly more annually.

In fiscal year 2017, which ended Sept. 30, the individual income tax was expected to bring in nearly $1.66 trillion, or about 48% of all federal revenues, according to the Office of Management and Budget. The corporate income tax was estimated to raise another $324 billion, or 9% of total federal revenue. Estimate total Federal Revenue annually at about $3.5T.

Interest on debt: The federal government must make regular interest payments on the money it borrowed to finance past deficits — that is, on the federal debt held by the public, which reached $20 trillion by the end of fiscal year 2017. In 2017, these interest payments claimed $475 billion, or about 6 percent of the budget. Projecting to 2025 and a $30T Debt, the interest on the Debt would double if not triple to $950T or $1,400T, which would use about HALF of the Federal Budget.

The nonpartisan Congressional Budget Office forecasts that debt held by the public will rise to $23 trillion in 2020. ... A 5 percent average interest rate on that amount comes to annual debt service of $825 billion, an unfathomable amount JUST FOR INTEREST ON THE DEBT.

PROJECTED NATIONAL DEBT 2017 THRU 2028

So the pols can talk about the "3rd rail" all they want, but when you're up to your ass in alligators its not the time to wonder why you forgot to drain the swamp.

 

[Rambunctious]

BULLSHIT our military was far from broke just more republican crap

Under Obama we had a sequester of spending...a absolute halt to new military spending...it was a promised and predicted disaster because we would have to make up for it one day....that day is now....never elect a socialist because it will cost big time....just wait and watch California in a few years....The cost of Governor Brown and his socialist platform will be astronomical...California will have to be bailed out one day....

 

[Rambunctious]

We have had to spend to fix everything Obama broke...like our military....having a socialist like Obama for a leader is not free...it cost us big time...

This is the stupid shit they believe.

Socialism is not free....why do so many believe and expect it to be cost free?....
Its our damn public schools.....so many victims of miseducation and socialist propaganda....such a damn shame.....

 

[TheDude]

'Earlier this week, when the US closed fiscal 2018 on September 30, we reported that US gross national debt jumped by $84 billion on September 28, the last business day of fiscal year 2018; with this last push higher, total gross national debt in fiscal 2018 rose by $1.271 trillion to an all time record of $21.52 trillion.

What is more stunning, is that only six months ago, on March 16, it had for the first time risen above the $21-trillion mark, while a year ago, at the end of September 2017, it was just $20.2 trillion.

The reason for the soaring debt total is, of course, the runaway US budget deficit, which while providing a temporary sugar rush to the US economy comes at a cost of explosive debt. As a reminder, one month ago, the CBO revised its forecast, and now expects the deficit will approach $1 trillion by the end of this fiscal year or one year sooner than disclosed in the CBO's most recent forecast; in April the agency didn’t expect the deficit to reach $1 trillion until 2020.'

The US Spent A Record $523 Billion On Debt Interest In Fiscal 2018


Who do I blame? The average American voter who keeps putting pathetic people in power who refuse to stop spending like drunken sailors.
But will the average voter blame themselves? Not a chance...they will just blame whichever party they don't like.
Morons.
Both Trumpbots AND Obamabots AND GWBushbots (at least Clinton - that sexual freak - tried to balance the budget). You are a bunch of pathetic, political morons.

Sounds like we need to pay down the debt...

hmm, last time that happened was.....


1957, under Ike

How did Clinton do?

had a surplus...

but didn't put it towards the debt

Such BS. Clinton had no surplus, they rearranged the numbers. Granted, it was a good economy, Dot.coms, housing contributing to an eventual collapse.

 

[Brain357]

'Earlier this week, when the US closed fiscal 2018 on September 30, we reported that US gross national debt jumped by $84 billion on September 28, the last business day of fiscal year 2018; with this last push higher, total gross national debt in fiscal 2018 rose by $1.271 trillion to an all time record of $21.52 trillion.

What is more stunning, is that only six months ago, on March 16, it had for the first time risen above the $21-trillion mark, while a year ago, at the end of September 2017, it was just $20.2 trillion.

The reason for the soaring debt total is, of course, the runaway US budget deficit, which while providing a temporary sugar rush to the US economy comes at a cost of explosive debt. As a reminder, one month ago, the CBO revised its forecast, and now expects the deficit will approach $1 trillion by the end of this fiscal year or one year sooner than disclosed in the CBO's most recent forecast; in April the agency didn’t expect the deficit to reach $1 trillion until 2020.'

The US Spent A Record $523 Billion On Debt Interest In Fiscal 2018


Who do I blame? The average American voter who keeps putting pathetic people in power who refuse to stop spending like drunken sailors.
But will the average voter blame themselves? Not a chance...they will just blame whichever party they don't like.
Morons.
Both Trumpbots AND Obamabots AND GWBushbots (at least Clinton - that sexual freak - tried to balance the budget). You are a bunch of pathetic, political morons.

Remember the tea party and all that talk about Greece and how too much spending was bad? Crazy how the partisans only know it's a problem when the other party is in party.

 

[Brain357]

'Earlier this week, when the US closed fiscal 2018 on September 30, we reported that US gross national debt jumped by $84 billion on September 28, the last business day of fiscal year 2018; with this last push higher, total gross national debt in fiscal 2018 rose by $1.271 trillion to an all time record of $21.52 trillion.

What is more stunning, is that only six months ago, on March 16, it had for the first time risen above the $21-trillion mark, while a year ago, at the end of September 2017, it was just $20.2 trillion.

The reason for the soaring debt total is, of course, the runaway US budget deficit, which while providing a temporary sugar rush to the US economy comes at a cost of explosive debt. As a reminder, one month ago, the CBO revised its forecast, and now expects the deficit will approach $1 trillion by the end of this fiscal year or one year sooner than disclosed in the CBO's most recent forecast; in April the agency didn’t expect the deficit to reach $1 trillion until 2020.'

The US Spent A Record $523 Billion On Debt Interest In Fiscal 2018


Who do I blame? The average American voter who keeps putting pathetic people in power who refuse to stop spending like drunken sailors.
But will the average voter blame themselves? Not a chance...they will just blame whichever party they don't like.
Morons.
Both Trumpbots AND Obamabots AND GWBushbots (at least Clinton - that sexual freak - tried to balance the budget). You are a bunch of pathetic, political morons.

Sounds like we need to pay down the debt...

hmm, last time that happened was.....


1957, under Ike

How did Clinton do?

had a surplus...

but didn't put it towards the debt

Such BS. Clinton had no surplus, they rearranged the numbers. Granted, it was a good economy, Dot.coms, housing contributing to an eventual collapse.

Clinton sure was closer to a surplus than Trump.