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Thread: National debt hits $21 trillion

  1. #91
    22 Trillion Dollars*
    “The nationalist not only does not disapprove of atrocities committed by his own side, but he has a remarkable capacity for not even hearing about them.” --George Orwell

    Quote Originally Posted by AuH20 View Post
    In terms of a full spectrum candidate, Rand is leaps and bounds above Trump. I'm not disputing that.
    Who else in public life has called for a pre-emptive strike on North Korea?--Donald Trump



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  3. #92
    Quote Originally Posted by kcchiefs6465 View Post
    22 Trillion Dollars*
    Quote Originally Posted by UWDude View Post
    It is a deconstructionist society. In an age of overload of information, truth of words has become irrelevant. Truth of meaning is all that is left.

    2 + 2 = 5.

  4. #93
    Another trillion isn't even worth starting a fresh thread about any more.
    Quote Originally Posted by angelatc View Post
    There's not a liberty lover on the planet who isn't called a liberal by the right, and a con by the left.
    Quote Originally Posted by Swordsmyth View Post
    I don't really care if I happen to be wrong about your positions, you are wrong about mine.

  5. #94
    Quote Originally Posted by acptulsa View Post
    Another trillion isn't even worth starting a fresh thread about any more.
    It is becoming an annual thing.



    Trump wants to beat Obama at everything.

    https://www.thedailybeast.com/trump-...en-it-blows-up

    Since the 2016 presidential campaign, Donald Trump’s aides and advisers have tried to convince him of the importance of tackling the national debt.

    Sources close to the president say he has repeatedly shrugged it off, implying that he doesn’t have to worry about the money owed to America’s creditors—currently about $21 trillion—because he won’t be around to shoulder the blame when it becomes even more untenable.


    The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the national debt in the not-too-distant future. In response, Trump noted that the data suggested the debt would reach a critical mass only after his possible second term in office.

    Yeah, but I won’t be here,” the president bluntly said, according to a source who was in the room when Trump made this comment during discussions on the debt.
    But as we always should note- it is Congress which determines spending and taxes and deficits, not the President.
    Last edited by Zippyjuan; 03-14-2019 at 05:49 PM.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.

  6. #95
    Quote Originally Posted by acptulsa View Post
    Another trillion isn't even worth starting a fresh thread about any more.
    I'll have to start updating this thread every 6-8 months.
    “The nationalist not only does not disapprove of atrocities committed by his own side, but he has a remarkable capacity for not even hearing about them.” --George Orwell

    Quote Originally Posted by AuH20 View Post
    In terms of a full spectrum candidate, Rand is leaps and bounds above Trump. I'm not disputing that.
    Who else in public life has called for a pre-emptive strike on North Korea?--Donald Trump

  7. #96
    Peter Schiff - The Real National emergency is the National Debt

    "Let it not be said that we did nothing." - Dr. Ron Paul. "Stand up for what you believe in, even if you are standing alone." - Sophie Magdalena Scholl
    "War is the health of the State." - Randolph Bourne "Freedom is the answer. ... Now, what's the question?" - Ernie Hancock.



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  9. #97
    "Let it not be said that we did nothing." - Dr. Ron Paul. "Stand up for what you believe in, even if you are standing alone." - Sophie Magdalena Scholl
    "War is the health of the State." - Randolph Bourne "Freedom is the answer. ... Now, what's the question?" - Ernie Hancock.

  10. #98
    Quote Originally Posted by AZJoe View Post
    Keeping in mind that it is Congress, not a president, which determines spending and deficits.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.

  11. #99
    Quote Originally Posted by Zippyjuan View Post
    Keeping in mind that it is Congress, not a president, which determines spending and deficits.
    That is an absolute fact. But a President signs those padded bills.

  12. #100

  13. #101
    Quote Originally Posted by enhanced_deficit View Post
    Good point.
    But it was obviously a 43D chess move which caused Trump to not only not veto giant spending bills, but to positively propose more spending.

    ...and to nearly shut down the government because it didn't spend enough.

    "Democracy is the theory that the common people know what they want, and deserve to get it good and hard."

    -H. L. Mencken

  14. #102
    Quote Originally Posted by kcchiefs6465 View Post
    22 Trillion Dollars*
    As of 7PM today, national debt per tax payer was $181, 524 !!!

    Gundlach: Last year debt increased by 6+% of GDP





    Caution: Link contains data that some may find trounling

    https://www.usdebtclock.org/





    Related

    Thank You Big Government... 17,617,000 Americans Work for Government!

    MAGA times are great for Big Government also. Ron Swanson be upset though.





    17,617,000 Americans Work for Government!

    Want to Make Money? Work for the Government

    May 8, 2019

    Which class of full-time, year-round American workers has the highest median earnings? Is it the class that works for private-sector employers? Is it the class that works for the government? Or is it the entrepreneurial class, who are self-employed?

    According to the Census Bureau's Personal Income Table 07 (PINC-07), the competition isn't close. When it comes to making money in the modern United States of America, government workers win.



  15. #103
    Thank you Trump, for following the wonderful example of Obama and Bush Jr!
    Slashing the taxes for big corporations and for the wealthy. Will Trump even achieve the nearly impossible? Again doubling the US national debt? The banksters are already counting their interests...

    During Trump’s first 2 years in office, US federal government deficits have already driven the national debt up by $3 trillion – from $19.5 trillion to $22.5 trillion. That´s even faster than his predecessors, George Bush and Barack Obama.
    The 2018 Trump tax cuts have reduced US government revenues by about $500 billion in 2018; add another $.5 trillion per year in the continuing of the Bush-Obama era tax cuts; another $.4 trillion in Trump war and other spending hikes during his first two years; and more than $.6 trillion in interest payments on the debt — and you reach the $3 trillion added to the national debt in 2017 and 2018.

    When George Bush Jr. took office in 2001 the national debt was $5.6 trillion; it almost doubled in 8 years to approximately $10 trillion. When Obama left office in 2016 it had almost doubled again to $19.6 trillion.
    Under President George Bush Jr. there were more than $4 trillion in tax cuts. The US army got several trillions additionally.
    Obama cut another $300 billion in taxes in 2009 and then extended the Bush tax cuts, scheduled to expire in 2010, for two more years to 2012 (costing another $900 billion). Then came another $806 billion in tax cuts for business. In January 2013, Obama extend Bush’s tax cuts for another decade —costing a further $5 trillion until 2023.
    Both Bush and Obama cut taxes by approximately $4 trillion each. And defense-war spending long term costs rose by $6 trillion in total. Roughly a $14 trillion increase to the $5.6 trillion debt of 2000.

    To this Trump has since added another $3 trillion during, which adds up to the “current” $22.5 trillion.
    The Treasury Advisory Committee recently warned the US Treasury that it will have to sell $12 trillion more US Treasury bonds, bills and notes, over the next decade, 2018-2028. That’s $12 trillion on top of $22.5 trillion national debt or a $34 trillion national debt by 2028!

    In January 2018 the Trump tax cut provided $4.5 trillion tax reduction from 2018 to 2028, for businesses, multinational corporations, wealthy households, and investors. US multinationals alone get nearly half of that $4.5 trillion.
    But starting this year, 2019, the middle class will begin paying for those tax reductions for corporate America, investors and the wealthy 1%. Already tax refunds for the average household are down 17%. The tax hike starts in earnest by 2022; middle class will pay $1.5 trillion in higher taxes by 2028.

    Today’s $22.5 trillion, rising to $34 trillion, is just the US national government debt. Total US debt includes state and local government debt, household debt, corporate bond and business commercial & industrial loan debt, central bank balance sheet debt, and government agencies (GSEs) debt. Add these other forms of debt to the national debt makes the total debt in the US rises some $53 trillion. This lead to an estimated grand total US debt of more than $70 trillion by 2028 (the $900 billion a year in interest charges for the banksters is probably too low an estimate): https://www.counterpunch.org/2019/03...and-debt-bomb/
    (archived here: http://archive.is/hzpeF)
    Do NOT ever read my posts.
    Google and Yahoo wouldn’t block them without a very good reason: http://www.ronpaulforums.com/showthr...he-world/page2

  16. #104



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  18. #105
    This is why we need more immigrants (legal or otherwise) to becomes citizens. Then the debt per citizen will drop and everything will be cheaper... its all just a matter of book keeping. LOL
    Quote Originally Posted by UWDude View Post
    It is a deconstructionist society. In an age of overload of information, truth of words has become irrelevant. Truth of meaning is all that is left.

    2 + 2 = 5.

  19. #106
    Quote Originally Posted by Firestarter View Post
    Thank you Trump, for following the wonderful example of Obama and Bush Jr!
    Slashing the taxes for big corporations and for the wealthy. Will Trump even achieve the nearly impossible? Again doubling the US national debt? The banksters are already counting their interests...

    During Trump’s first 2 years in office, US federal government deficits have already driven the national debt up by $3 trillion – from $19.5 trillion to $22.5 trillion. That´s even faster than his predecessors, George Bush and Barack Obama.
    The 2018 Trump tax cuts have reduced US government revenues by about $500 billion in 2018; add another $.5 trillion per year in the continuing of the Bush-Obama era tax cuts; another $.4 trillion in Trump war and other spending hikes during his first two years; and more than $.6 trillion in interest payments on the debt — and you reach the $3 trillion added to the national debt in 2017 and 2018.

    When George Bush Jr. took office in 2001 the national debt was $5.6 trillion; it almost doubled in 8 years to approximately $10 trillion. When Obama left office in 2016 it had almost doubled again to $19.6 trillion.
    Under President George Bush Jr. there were more than $4 trillion in tax cuts. The US army got several trillions additionally.
    Obama cut another $300 billion in taxes in 2009 and then extended the Bush tax cuts, scheduled to expire in 2010, for two more years to 2012 (costing another $900 billion). Then came another $806 billion in tax cuts for business. In January 2013, Obama extend Bush’s tax cuts for another decade —costing a further $5 trillion until 2023.
    Both Bush and Obama cut taxes by approximately $4 trillion each. And defense-war spending long term costs rose by $6 trillion in total. Roughly a $14 trillion increase to the $5.6 trillion debt of 2000.

    To this Trump has since added another $3 trillion during, which adds up to the “current” $22.5 trillion.
    The Treasury Advisory Committee recently warned the US Treasury that it will have to sell $12 trillion more US Treasury bonds, bills and notes, over the next decade, 2018-2028. That’s $12 trillion on top of $22.5 trillion national debt or a $34 trillion national debt by 2028!

    In January 2018 the Trump tax cut provided $4.5 trillion tax reduction from 2018 to 2028, for businesses, multinational corporations, wealthy households, and investors. US multinationals alone get nearly half of that $4.5 trillion.
    But starting this year, 2019, the middle class will begin paying for those tax reductions for corporate America, investors and the wealthy 1%. Already tax refunds for the average household are down 17%. The tax hike starts in earnest by 2022; middle class will pay $1.5 trillion in higher taxes by 2028.

    Today’s $22.5 trillion, rising to $34 trillion, is just the US national government debt. Total US debt includes state and local government debt, household debt, corporate bond and business commercial & industrial loan debt, central bank balance sheet debt, and government agencies (GSEs) debt. Add these other forms of debt to the national debt makes the total debt in the US rises some $53 trillion. This lead to an estimated grand total US debt of more than $70 trillion by 2028 (the $900 billion a year in interest charges for the banksters is probably too low an estimate): https://www.counterpunch.org/2019/03...and-debt-bomb/
    (archived here: http://archive.is/hzpeF)
    Makes one wonder how its will all end.

    But, neither Bush, Obama nor Trump write spending bills. That would be congress.
    Quiz: Test Your "Income" Tax IQ!

    Short Income Tax Video

    The Income Tax Is An Excise, And Excise Taxes Are Privilege Taxes

    The Federalist Papers, No. 15:

    Except as to the rule of appointment, the United States have an indefinite discretion to make requisitions for men and money; but they have no authority to raise either by regulations extending to the individual citizens of America.

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