The US national debt now stands at $40 trillion

[Tbird19482]

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

YEP we HAVE to cut programs like SNAP,Medicare and Medicaid , programs the American people need and use so we can give them big tax cuts.
Let the hard working low income people and others suffer so the rich can save some money.

 

[archives]

Partially true? Who cares?

Interesting view, overall, probably few,, but it does show one political party either lacks the principles they say they represent, or, they have just completely abandoned those principles, the later probably accurate in Trump’s control of the party

What does it mean in the long run, little, but a Republican talking deficit/debt borders on nauseating

 

[cawacko]

Interesting view, overall, probably few,, but it does show one political party either lacks the principles they say they represent, or, they have just completely abandoned those principles, the later probably accurate in Trump’s control of the party

What does it mean in the long run, little, but a Republican talking deficit/debt borders on nauseating

I go back to this:

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?

 

[archives]

I go back to this:

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?

Got elected, probably rare, however defeated, defeated by portraying Democrats as ignoring debt and themselves as fiscally responsible, the GOP as fiscal conservatives, I’d say often

 

[cawacko]

Got elected, probably rare, however defeated, defeated by portraying Democrats as ignoring debt and themselves as fiscally responsible, the GOP as fiscal conservatives, I’d say often

Yeah it's rare. It's how we got $40 trillion in debt.

And voters don't 'care' because until it affects them today they don't think about it. And politicians who should in theory be leaders, don't speak about it because their incentives are to get elected and that doesn't happen with them speaking about it.

 

[Uncensored2008]

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

Oh, and go fuck yourself traitor scum.

 

[Dutch Uncle]

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

Billions of that ended up on a TrumpCo bank account. Sad

 

[Dutch Uncle]

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 .

Agreed. Unfortunately, the MAGA morons only care when it's a Democrat adding to the debt and never when it's a Republican, much less their Orange God.

The bottom line is that adds weight to the conclusion that MAGA is evil since it turns against God and worships Satan.

 

[QP!]

Yeah it's rare. It's how we got $40 trillion in debt.

And voters don't 'care' because until it affects them today they don't think about it. And politicians who should in theory be leaders, don't speak about it because their incentives are to get elected and that doesn't happen with them speaking about it.

Agreed mostly.

And it is a true challenge because the political incentives do not reward being the Party in power who acts responsibly and focuses on paying down debt.

A simple, but not perfect way to think about this is...

- Family 1. Middle class. Doing ok but living modestly at the edge of their means, using debt minimally and paying it off as soon as they can. Kids always feel things are 'tight'', especially in times when focus is to pay down debt, making it feel like the family earns less income than it does. That they are not keeping up friends families. This family is managed and guided by a responsible 'Financial Planner' (gov't).

- Family 1 again but with new financial planner (gov't). This new financial planner sees that the family has a ton of access to debt and guides them to use it. New cars, bigger vacations, keeping up with the friends families. Always pushing at the edge of payments counting on income growth and good economies. The family feels much richer, spending $1.15 for every dollar earned instead of $0.85 in the prior example.

If you give the kids (not as educated) a vote on which planner they want in charge it will be the one giving immediate gratification, over the one tightening the belt to ensure the family is more secure.

 

[QP!]

The above is why it is so incredibly difficult to be the party of debt reduction and fiscal responsibility, as asking people to accept austerity makes them feel poorer and instead why politicians exemplified by Trump, want ot pike on more debt even when the country is already doing well and debt pay should be the priority.

They believe if they can give voters that sugar high of feeling much richer on Republican watch, while then the next Dem Potus is screamed at by them to 'pay down the debt', that the Dems then get the negative belief, as the party implementing austerity that when they are in power, America is poorer.

 

[QP!]

Agreed. Unfortunately, the MAGA morons only care when it's a Democrat adding to the debt and never when it's a Republican, much less their Orange God.

The bottom line is that adds weight to the conclusion that MAGA is evil since it turns against God and worships Satan.

 

[QP!]

magats will remain silent on this until the next Dem administration takes over at which time it will be an existential crisis proving why 'the Democrats should introduce no new programs and must focus all spending on debt reduction', to rehab the economy so a following magat Potus can step into a healthier country and pile the debt back on it again... and so on ...and so on...

 

[Dutch Uncle]

magats will remain silent on this until the next Dem administration takes over at which time it will be an existential crisis proving why 'the Democrats should introduce no new programs and must focus all spending on debt reduction', to rehab the economy so a following magat Potus can step into a healthier country and pile the debt back on it again... and so on ...and so on...

More evidence that MAGAts are the Party of Greed, the Party of Satan. Sad.

How long before their own families and neighbors realize how evil they are?

 

[Taichiliberal]

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.

Ahh, but we are seeing beginnings of that with the current special elections and primaries for the midterms ... which has the Dems and the GOP wringing their hands and sweating.

 

[cawacko]

Agreed mostly.

And it is a true challenge because the political incentives do not reward being the Party in power who acts responsibly and focuses on paying down debt.

A simple, but not perfect way to think about this is...

- Family 1. Middle class. Doing ok but living modestly at the edge of their means, using debt minimally and paying it off as soon as they can. Kids always feel things are 'tight'', especially in times when focus is to pay down debt, making it feel like the family earns less income than it does. That they are not keeping up friends families. This family is managed and guided by a responsible 'Financial Planner' (gov't).

- Family 1 again but with new financial planner (gov't). This new financial planner sees that the family has a ton of access to debt and guides them to use it. New cars, bigger vacations, keeping up with the friends families. Always pushing at the edge of payments counting on income growth and good economies. The family feels much richer, spending $1.15 for every dollar earned instead of $0.85 in the prior example.

If you give the kids (not as educated) a vote on which planner they want in charge it will be the one giving immediate gratification, over the one tightening the belt to ensure the family is more secure.

To really deal with this will take a combination of increased taxes, reduced spending and entitlement reform. Needless to say we can all imagine the pushback on that.

 

[cawacko]

Ahh, but we are seeing beginnings of that with the current special elections and primaries for the midterms ... which has the Dems and the GOP wringing their hands and sweating.

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.

 

[archives]

Yeah it's rare. It's how we got $40 trillion in debt.

And voters don't 'care' because until it affects them today they don't think about it. And politicians who should in theory be leaders, don't speak about it because their incentives are to get elected and that doesn't happen with them speaking about it.

You comments aren’t incorrect, however, I don’t think they follow the topic thread. The poster is pointing out the record debt just to point out the record debt, especially given the cartoon he included

Yes, everyone talks debt, and few do anything about it, but fiscal conservatism is, or at least was, a major principle of the GOP. Any Democrat running has always been portrayed as free spenders, politicians unconscious of the effects of deficit and debt, when, as we see now, with the current Administration, the opposite appears more accurate

The best example would be Reagan, who talked the game of deficits and debt but substantially added to the debt

 

[cawacko]

You comments aren’t incorrect, however, I don’t think they follow the topic thread. The poster is pointing out the record debt just to point out the record debt, especially given the cartoon he included

Yes, everyone talks debt, and few do anything about it, but fiscal conservatism is, or at least was, a major principle of the GOP. Any Democrat running has always been portrayed as free spenders, politicians unconscious of the effects of deficit and debt, when, as we see now, with the current Administration, the opposite appears more accurate

The best example would be Reagan, who talked the game of deficits and debt but substantially added to the debt

My first post ITT was in response to that - "Very few people care about the national debt outside of political partisans who only care when the other party does the spending."

 

[Sailor]

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

Using your EBT card is not paying the bills. Dumb ass democrat.

 

[Tbird19482]

Using your EBT card is not paying the bills. Dumb ass democrat.

Don't have one fuck face Never did, I unlike you worked for a living.