The US national debt now stands at $40 trillion

signalmankenneth said:
WASHINGTON (AP) — The national debt surpassed a record $40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit make up an enormous share of federal spending.

The milestone figure was recorded just five months after the U.S. hit a record $39 trillion debt in March. It reached $38 trillion five months before that, in October.

The unprecedented $40 trillion figure highlights competing administration priorities, from boosting defense spending that the U.S. relies on to carry out President Donald Trump’s almost-6-month-old war in Iran to lowering the cost of gas and groceries.

Kush Desai, a White House spokesman, said the Trump administration “has been focused on slashing waste, fraud, and abuse in federal spending while accelerating economic growth to get America’s debt-to-GDP ratio trending in the right direction.”

However, experts say the exploding debt and the latest record milestone are already affecting Americans’ pocketbooks by raising borrowing costs for things like mortgages and cars, lowering wages from businesses that have less money available to invest, and creating more expensive goods and services.

“If we want to improve our living standards, today and for the next generation, now is the time for lawmakers to put our nation on a more affordable and sustainable path,” says Michael A. Peterson, CEO of the Peter G. Peterson Foundation, a think tank focused on U.S. fiscal challenges.

https://apnews.com/article/treasury-national-debt-limit-a27a8d3651ff810b25c610d3e1b6259d
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It's all Biden's fault. :rofl2: :rofl2: :rofl2: :rofl2: :rofl2: :rofl2: :rofl2:
 
ThatOwlWoman said:
If he wants my vote for a third term, he will have to liquidate all his assets and donate the proceeds to the Treasury to offset the debt he created. And even then I don't think I could do it. lol
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I wonder is even one of the trump supporters willing to go on record as not being willing to vote for trump to get a third term.
 
Tbird19482 said:
They cut taxes for the rich and cut needed programs for the poor and hard working low income Americans .
Programs like SNAP , Medicare, Medicaid, Programs many low income Americans depend on including a lot of MAGAS .
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Yep. In fact, it's safe to say that it's quite likely that the majority of recipients of public aid are probably Trumpanzees, given their location in poverty-ridden areas of the South and rural Midwest. I bet farmers, who also tend to vote (R), are super excited at the cost of fuel now, parts for their farming equipment, and tariffs.
 
ThatOwlWoman said:
Yep. In fact, it's safe to say that it's quite likely that the majority of recipients of public aid are probably Trumpanzees, given their location in poverty-ridden areas of the South and rural Midwest. I bet farmers, who also tend to vote (R), are super excited at the cost of fuel now, parts for their farming equipment, and tariffs.
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Fuel and fertilizer costs have gone up because both are made from oil and as we have already seen they are passing that cost on to the consumer.
 
cawacko said:
Admittedly I haven't paid that close attention to Congressional races but I'm not aware of some movement among candidates, whether Democrat or Republican, claiming we need more fiscal discipline and hard choices are going to have to be made that will make no one happy.
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You're not making sense, Wack. You have to pay attention to become knowledgeable before making assertions or assumptions or even declarations. Otherwise, one is just expressing worthless opinion.
 
Taichiliberal said:
You're not making sense, Wack. You have to pay attention to become knowledgeable before making assertions or assumptions or even declarations. Otherwise, one is just expressing worthless opinion.
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I'm all ears man. Who is running on a platform saying America's national debt is a real issue and essentially we are going to have to make choices that no one likes which include increasing taxes, cutting spending and reforming entitlements.

Because if someone ran on that platform and was winning, it would make headlines.
 
cawacko said:
I'm all ears man. Who is running on a platform saying America's national debt is a real issue and essentially we are going to have to make choices that no one likes which include increasing taxes, cutting spending and reforming entitlements.

Because if someone ran on that platform and was winning, it would make headlines.
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Ahh, but the GOP usage of the old adage, "Do as I say, not as I do" isn't cutting it in this instance. Take note;
 
Taichiliberal said:
Ahh, but the GOP usage of the old adage, "Do as I say, not as I do" isn't cutting it in this instance. Take note;
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I was talking about candidates running on platforms stating America's debt is a problem and it's going to take very unpopular policies of tax increases, spending cuts and reforming entitlements. I said no one is doing that.

And your response was I wasn't making sense and my opinion is worthless because I'm not knowledgeable.

Then you post this article that absolutely proves my point that no one wants to run on a platform acknowledging the often not fun choices fiscal responsibility would require, including making any changes to entitlements.
 
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cawacko said:
I was talking about candidates running on platforms stating America's debt is a problem and it's going to take very unpopular policies of tax increases, spending cuts and reforming entitlements. I said no one is doing that.

And your response was I wasn't making sense and my opinion is worthless because I'm not knowledgeable.

Then you post this article that absolutely proves my point that no one wants to run on a platform acknowledging the often not fun choices fiscal responsibility would require, including making any changes to entitlements.
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No, the article is a reference as to how a party that campaigned on fixing the economy and is now currently telling America that the fix is just around the corner DESPITE the current real world problems. The example being Lawler.
 
Taichiliberal said:
No, the article is a reference as to how a party that campaigned on fixing the economy and is now currently telling America that the fix is just around the corner DESPITE the current real world problems. The example being Lawler.
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Ok, but that has nothing to do with what I said.
 
cawacko said:
Ok, but that has nothing to do with what I said.
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The GOPis running on "stay the course" and attempting to pivot from the economy. The Dems are running on "it's the economy, stupid!" Case in point:
www.pbs.org

Democratic socialist Angie Nixon won the Senate primary in Florida. Can she win in November?

Nixon's upset sets up a long-shot challenge to U.S. Sen. Ashley Moody, a former state attorney general who Gov. Ron DeSantis selected to fill the seat after it was vacated by Marco Rubio, who Trump chose as secretary of state.
www.pbs.org www.pbs.org
 
Noking said:
It's all Biden's fault. :rofl2: :rofl2: :rofl2: :rofl2: :rofl2: :rofl2: :rofl2:
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It is Trumans, Carters, Clintons, and Bidens, fault. Of course the fact that in the 80s, the Repubs came up with a plan to spend bigly on defense and cut taxes to jack up the deficit, . it was so Dems did not have the money to help the average American and spend on the country, like infrastructure. The Dems come in and have to fix the economy before they can get started on helping the people.The Repubs vote against everything the Dems want to do.
 
Nordberg said:
It is Trumans, Carters, Clintons, and Bidens, fault. Of course the fact that in the 80s, the Repubs came up with a plan to spend bigly on defense and cut taxes to jack up the deficit, . it was so Dems did not have the money to help the average American and spend on the country, like infrastructure. The Dems come in and have to fix the economy before they can get started on helping the people.The Repubs vote against everything the Dems want to do.
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Its a UniParty.....there has been no disagreement about spending like drunken sailors.
 
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