The US national debt now stands at $40 trillion

[signalmankenneth]

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

 

[cawacko]

Very few people care about the national debt outside of political partisans who only care when the other party does the spending.

 

[archives]

Very few people care about the national debt outside of political partisans who only care when the other party does the spending.

Partially true, however, one party used to echo that deficit and debt, fiscal conservatism, was a principle of their party

 

[archives]

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
View attachment 92753

Does that mean we shouldn’t be building billion dollar ballrooms, arches, or starting wars without a end strategy?

 

[cawacko]

Partially true, however, one party used to echo that deficit and debt, fiscal conservatism, was a principle of their party

Partially true? Who cares?

 

[Lionfish]

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
View attachment 92753

Fuck you asshole. You supported the assassination of your president so, fuck you!

 

[Tbird19482]

Partially true, however, one party used to echo that deficit and debt, fiscal conservatism, was a principle of their party

And it has been that party, the Republican party that has run it up the most.
Heck Trump alone is responsible for one forth of it .

 

[QP!]

Very few people care about the national debt outside of political partisans who only care when the other party does the spending.

I do not think that is accurate framing.

I do not think rhetorically or via platform the Dem party has been anti-debt or 'caring about debt' in the way the republicans have been rhetorically.

So while the Dem do care when the Republicans put on debt it is to call them out as hypocrites, as they should.

 

[cawacko]

And it has been that party, the Republican party that has run it up the most.
Heck Trump alone is responsible for one forth of it .

You barfed at my post but you can answer, who do you believe cares about the debt?

 

[cawacko]

I do not think that is accurate framing.

I do not think rhetorically or via platform the Dem party has been anti-debt or 'caring about debt' in the way the republicans have been rhetorically.

So while the Dem do care when the Republicans put on debt it is to call them out as hypocrites, as they should.

Then why should any Democrat care we have $40 trillion in debt then?

 

[Tbird19482]

You barfed at my post but you can answer, who do you believe cares about the debt?

a lot of taxpayers.
You know the ones paying the bills, I know I do.

 

[cawacko]

a lot of taxpayers.
You know the ones paying the bills, I know I do.

Eh, if taxpayers cared they would elect politicians to do something about it. Instead we elect people who say they will give us lots of things while taking very little away.

You can't get elected saying America has lived beyond her means and we have to raise taxes, cut spending and deal with entitlements.

So people can say they care in theory, but they don't show it in their actions.

 

[Crepitus]

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
View attachment 92753

Doubled in 10 years. Guess who was president for 6 of them.

 

[QP!]

Then why should any Democrat care we have $40 trillion in debt then?

I am not sure many do actually.

But they do care that Republicans rail about it and weaponize it against them and then spend like drunken sailors when they get in.

As they should.

A position of not making debt a focus of your party platform or views is fine (I won't agree with it generally) and it is also fine to call out Republicans on debt when they pretend to be so against it.

 

[cawacko]

I am not sure many do actually.

But they do care that Republicans rail about it and weaponize it against them and then spend like drunken sailors when they get in.

As they should.

A position of not making debt a focus of your party platform or views is fine (I won't agree with it generally) and it is also fine to call out Republicans on debt when they pretend to be so against it.

You're reinforcing my point that no one cares about the debt other than political partisans. But the partisan blame game is separate from the issue of the debt itself and what steps would need to be taken to address it.

 

[QP!]

You're reinforcing my point that no one cares about the debt other than political partisans. But the partisan blame game is separate from the issue of the debt itself and what steps would need to be taken to address it.

Your point is too simplistic and lacks needed nuance though.

it makes it sounds like both parties are full of shit.

The better way to say it is:

- The republicans hypocritically pretend they care about debt and weaponize it, when they do not and that is a bad thing. The Dems do not really care about debt but care about the Republican hypocrisy on the topic and that should be done.

the end result is neither party caring about debt but only one is bad.

 

[cawacko]

Your point is too simplistic and lacks needed nuance though.

it makes it sounds like both parties are full of shit.

The better way to say it is:

- The republicans hypocritically pretend they care about debt and weaponize it, when they do not and that is a bad thing. The Dems do not really care about debt but care about the Republican hypocrisy on the topic and that should be done.

the end result is neither party caring about debt but only one is bad.

It's too simplistic to say basically no one cares? When was the last time someone got elected running on a platform that we are arguably on an unsustainable path and the need for tax increases, cuts in spending and entitlement reform will be required?

 

[QP!]

Very few people care about the national debt outside of political partisans who only care when the other party does the spending.

When this ^^^ is your position that our conversation flows from, yes it is a little too simplistic to just say neither party cares unless the other party is spending'.

The Dems do not care simply because the republicans are spending. The spending, like other issues is used to highlight hypocrisy of republicans and weaponization of debt, and is not core 'care' about spending.

 

[Tbird19482]

Eh, if taxpayers cared they would elect politicians to do something about it. Instead we elect people who say they will give us lots of things while taking very little away.

You can't get elected saying America has lived beyond her means and we have to raise taxes, cut spending and deal with entitlements.

So people can say they care in theory, but they don't show it in their actions.

The people of the US should care we , are paying a Trillion a year is interest that could go for a lot of things they need and could use.
And I agree they are not showing that they even care when they should be .

 

[Noking]

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
View attachment 92753

Big tax cuts for the GOP's big political donors is taking it's toll