This was troubling 30 year ago.

[the other mike]

Troubling, but somewhat manageable in 1989 when the first debt clock was installed in NYC. At that time the national debt was about $2.85 trillion.

Now it's $27.4 trillion.

The National Debt Clock is a billboard-sized running total display which constantly updates to show the current United States gross national debt and each American family's share of the debt. It is currently installed on the western side of One Bryant Park, west of Sixth Avenue between 42nd and 43rd Streets in Manhattan, New York City. It was the first debt clock installed anywhere.

National Debt Clock - Wikipedia

en.wikipedia.org

 

[progressive hunter]

Troubling, but somewhat manageable in 1989 when the first debt clock was installed in NYC. At that time the national debt was about $2.85 trillion.

Now it's $27.4 trillion.

The National Debt Clock is a billboard-sized running total display which constantly updates to show the current United States gross national debt and each American family's share of the debt. It is currently installed on the western side of One Bryant Park, west of Sixth Avenue between 42nd and 43rd Streets in Manhattan, New York City. It was the first debt clock installed anywhere.

they need one installed in the halls of congress and have a bell that tolls everytime it goes up a million dollars,,,

 

[progressive hunter]

Troubling, but somewhat manageable in 1989 when the first debt clock was installed in NYC. At that time the national debt was about $2.85 trillion.

Now it's $27.4 trillion.

The National Debt Clock is a billboard-sized running total display which constantly updates to show the current United States gross national debt and each American family's share of the debt. It is currently installed on the western side of One Bryant Park, west of Sixth Avenue between 42nd and 43rd Streets in Manhattan, New York City. It was the first debt clock installed anywhere.

they need one installed in the halls of congress and have a bell that tolls everytime it goes up a million dollars,,,

But that would interrupt their free meals dining halls with free booze...

we can always count on you for stupid off topic comments

 

[the other mike]

Foreign held debt alone is over $7 trillion.
If this keeps going up they'll be cutting more and more of our programs and benefits just to pay the interest on that. Never mind the Federal Reserve printing pallets full of monopoly money to keep the ice from breaking.

 

[progressive hunter]

Troubling, but somewhat manageable in 1989 when the first debt clock was installed in NYC. At that time the national debt was about $2.85 trillion.

Now it's $27.4 trillion.

The National Debt Clock is a billboard-sized running total display which constantly updates to show the current United States gross national debt and each American family's share of the debt. It is currently installed on the western side of One Bryant Park, west of Sixth Avenue between 42nd and 43rd Streets in Manhattan, New York City. It was the first debt clock installed anywhere.

they need one installed in the halls of congress and have a bell that tolls everytime it goes up a million dollars,,,

But that would interrupt their free meals dining halls with free booze...

we can always count on you for stupid off topic comments

Free really isn't free it all adds up to a deficient which increases the debt.....They way you speak to people tells me you would be better off picking up trash for a living.

just another off topic comment from a useless troll,,

 

[Blues Man]

23% or so of the debt is money the government owes to itself for example all the Social Security taxes that people pay that are used as a slush fund for other departments.



77% is owned by the public with 7 trillion of that owned by other countries.

The rest is held by US banks and investors and in fact many retirement funds use Treasury Bonds as a safe investment.

So sure we should get rid of the intragovernmental debt by not allowing the raiding of Social Security or the Federal Highway trust etc to pay for other things and the foreign owned debt but we don't need to worry about the debt owned by US interests and it can be argued that the interest that US own debt adds a stabilizing factor to the economy by acting as a safe haven for the investments of millions of Americans

 

[White 6]

Foreign held debt alone is over $7 trillion.
If this keeps going up they'll be cutting more and more of our programs and benefits just to pay the interest on that. Never mind the Federal Reserve printing pallets full of monopoly money to keep the ice from breaking.

No debt is good debt (ok, and exaggeration), but foreign debt is the worst. It might be argued that domestic debt is also (to an extent) domestic credit. Frankly I am surprised the foreign debt is as low as $7. Would be a lot worse if the foreign vs domestic debt load were reversed.

 

[toobfreak]

Troubling, but somewhat manageable in 1989 when the first debt clock was installed in NYC.

The entire goal is to collapse the US economy. Break the backs of small business with shutdowns, bury us in debt until our money is valueless, then get the capitalist out of the WH stopping the global socialist takeover of America.

 

[my2¢]

Concerning the national debt the subject certainly has been moot around here during the last four years. As I suspected getting a Democrat in the Presidency has changed the perspective. I'll be glad to see congressional Republicans return to their role of being fiscal conservatives and am hopeful the Republicans will ignore the silliness of boycotting the Georgia runoff election and come out in force to keep the Senate in GOP control.

 

[cnm]

I'll be glad to see congressional Republicans return to their role of being fiscal conservatives

Says it all. FIFY

I'll be glad to see congressional Republicans return to their role of being in opposition.

 

[konradv]

Concerning the national debt the subject certainly has been moot around here during the last four years. As I suspected getting a Democrat in the Presidency has changed the perspective. I'll be glad to see congressional Republicans return to their role of being fiscal conservatives and am hopeful the Republicans will ignore the silliness of boycotting the Georgia runoff election and come out in force to keep the Senate in GOP control.

Seems the Republicans' principles are very fluid.

 

[BULLDOG]

Troubling, but somewhat manageable in 1989 when the first debt clock was installed in NYC.

The entire goal is to collapse the US economy. Break the backs of small business with shutdowns, bury us in debt until our money is valueless, then get the capitalist out of the WH stopping the global socialist takeover of America.

If that is the goal, the last two republican presidents have done more to advance toward it than anyone before.

 

[Toddsterpatriot]

So sure we should get rid of the intragovernmental debt by not allowing the raiding of Social Security or the Federal Highway trust etc to pay for other things

What should the Social Security Trust Fund invest in?

 

[Tom Paine 1949]

The way our Federal Reserve buys Treasuries, bails out too-big-to-fail or bankrupt corporations, sends checks to John Q citizen in the pandemic depression, pays for Medicare, finances the military — all this increasingly reveals the modern fiat essence of money. Money earned, borrowed or stolen is necessary for all of us who do not print money, including states and cities. The later must pay their bills with taxes or federal grants. But Federal money spent does not really have to come from anybody’s taxes. Or even to be borrowed. The monetarization of debt is part of an elaborate political and historically evolved “illusion.” After all, even big governments need to have people work, trade managed, capital accumulated, bills paid and wars fought.

If you go down to the IRS to pay your taxes in cash, at the end of the day they just mark your taxes paid and actually throw your money away. Shred it. Burn it. Not even cash is real money to the federal government. In actual fact the whole monetarizing game could be theoretically replaced and the government could just issue checks out of thin air (which is technically / procedurally what it does). The Fed buying Treasuries is essentially a game to cover the fact that “debt” and “money” are about as real to the Federal government as the points given out at a football or bowling game. The federal government and its central bank can not go “bankrupt” in this system. Just as the bowling alley does not have a limited number of points to give out each day, it need not collect them at closing to give out more the next day!

Today with low interest, low inflation, the national debt is not a problem. As a percentage of GDP, debt repayments are low. The stock market is doing great. Economists all over the developed Western world are aware that the old “balance the budget” shibboleths have become outdated in this era of digital currencies. Politicians are another matter. In power they are spenders. Out of power they may sometimes argue for more balanced budgets or even paying down the national debt. Taxes are not really necessary for balancing any federal budget. They are primarily for redistribution of wealth and for enforcing the use of state fiat currency. Weaker third world governments have less freedom, of course. They must pay in U.S. dollars, just like you and me.

 

[White 6]

Interesting take.

 

[Blues Man]

So sure we should get rid of the intragovernmental debt by not allowing the raiding of Social Security or the Federal Highway trust etc to pay for other things

What should the Social Security Trust Fund invest in?

It doesn't invest in anything right now because there are zero dollars in the so called trust fund

 

[Toddsterpatriot]

So sure we should get rid of the intragovernmental debt by not allowing the raiding of Social Security or the Federal Highway trust etc to pay for other things

What should the Social Security Trust Fund invest in?

It doesn't invest in anything right now because there are zero dollars in the so called trust fund

You said it was raided. You said intragovernmental debt.
Were you wrong then or are you wrong now?

 

[DGS49]

So, Tom Paine, you seem like a knowledgeable MoFo, what is it that KEEPS interest rates and inflation low? Banks are lending 30-year money at less than 3%, so obviously THEY think that rates are low permanently. Why is this?

 

[Blues Man]

So sure we should get rid of the intragovernmental debt by not allowing the raiding of Social Security or the Federal Highway trust etc to pay for other things

What should the Social Security Trust Fund invest in?

It doesn't invest in anything right now because there are zero dollars in the so called trust fund

You said it was raided. You said intragovernmental debt.
Were you wrong then or are you wrong now?

Why do you think there is no money in the so called Social Security "Trust Fund"?

Because it has been used for other things besides Social Security. Therefore it has been raided.

 

[Toddsterpatriot]

So sure we should get rid of the intragovernmental debt by not allowing the raiding of Social Security or the Federal Highway trust etc to pay for other things

What should the Social Security Trust Fund invest in?

It doesn't invest in anything right now because there are zero dollars in the so called trust fund

You said it was raided. You said intragovernmental debt.
Were you wrong then or are you wrong now?

Why do you think there is no money in the so called Social Security "Trust Fund"?

Because it has been used for other things besides Social Security. Therefore it has been raided.

Why do you think there is no money in the so called Social Security "Trust Fund"?

Money doesn't pay interest. That's why there are Treasury Bonds in the Trust Fund.

What should they invest in, instead of Treasury Bonds?