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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*
    When life itself seems lunatic, who knows where madness lies? - Miguel de Cervantes, (Don Quixote)

    Quote Originally Posted by Voluntarist View Post
    The tree of liberty must be refreshed from time to time with the Federal Reserve Notes of patriotic central banks

  4. #93
    Another trillion isn't even worth starting a fresh thread about any more.
    'I prefer someone who burns the flag and then wraps themselves up in the Constitution over someone who burns the Constitution and then wraps themselves up in the flag.'--Molly Ivins

    'Well, you can get no more liberty than you give.'--Will Rogers

  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.

  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.

  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/page3

    Donald Trump, another puppet controlled by the international elite: https://www.lawfulpath.com/forum/vie...=1038&start=60

  16. #104
    Quote Originally Posted by Firestarter View Post
    Thank you Trump, for following the wonderful example of Obama and Bush Jr!
    ...
    To be fair, he was open about his style.




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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
    When life itself seems lunatic, who knows where madness lies? - Miguel de Cervantes, (Don Quixote)

    Quote Originally Posted by Voluntarist View Post
    The tree of liberty must be refreshed from time to time with the Federal Reserve Notes of patriotic central banks

  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.
    Openly Straight Man, Danke, Awarded Top Rated Influencer

    Ⅎ˥ƎSWIH ˥˥I⋊ ⊥,NᗡIᗡ N
    IƎ⊥SԀƎ

    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.

  20. #107

  21. #108
    We have to abandon responsible spending principles in order to save responsible spending.

    Now blow on those flames, b!tches...


    Gulag Chief:
    "Article 58-1a, twenty five years... What did you get it for?"
    Gulag Prisoner: "For nothing at all."
    Gulag Chief: "You're lying... The sentence for nothing at all is 10 years"



  22. #109
    Quote Originally Posted by Danke View Post
    Makes one wonder how its will all end.
    The loot with which votes are purchased will run out and the government will collapse.
    "Democracy is the theory that the common people know what they want, and deserve to get it good and hard."

    -H. L. Mencken

  23. #110

  24. #111
    22 trillion+ and it isn't going to be paid off anytime soon.
    "Perhaps one of the most important accomplishments of my administration is minding my own business."

    Calvin Coolidge

  25. #112
    Quote Originally Posted by Anti Globalist View Post
    22 trillion+ and it isn't going to be paid off anytime soon.
    It's never going to be paid off.

    Sooner or later, though, it is going to be written off ...


    Frédéric Bastiat (1801-1850)

    • "When law and morality are in contradiction to each other, the citizen finds himself in the cruel alternative of either losing his moral sense, or of losing his respect for the law." - The Law (p. 54)
    • "Government is that great fiction, through which everybody endeavors to live at the expense of everybody else." - Government (p. 99)
    • "[W]ar is always begun in the interest of the few, and at the expense of the many."
      - Economic Sophisms - Second Series (p. 312)
    • "There are two principles that can never be reconciled - Liberty and Constraint."
      - Harmonies of Political Economy - Book One (p. 447)

    · tu ne cede malis sed contra audentior ito ·
    MOFA (Make Orwell Fiction Again)



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  27. #113
    Afghanistan's security forces lost 42,000 troops in the last year in a crackdown on 'ghost soldiers'

    Idrees Ali, Reuters
    August 01, 2019 at 07:37 AM
    news
    Soldiers with 2nd Kandak, 2nd Brigade, Afghan National Army (ANA) 215th Corps wait for the order to move during a military operations on urban terrain (MOUT) exercise at Camp Shorabak

    (U.S. Marine Corps/Sgt. Luke Hoogendam)
    WASHINGTON (Reuters) - There has been a sharp drop in the size of Afghanistan's National Defense Security Forces in the past few months due to changes in the way troops are counted and an effort to reduce the number of so-called "ghost" soldiers, a U.S. government watchdog said on Thursday.

    The Special Inspector General for Afghanistan Reconstruction (SIGAR) said in a report that ANDSF personnel size had gone down by nearly 10 percentage points in the most recent quarter compared to the previous trimester.

    https://taskandpurpose.com/afghan-se...s-sigar-report



    State Department wasted $100M on Afghan camp despite early warnings: Report


    • lee ferran Aug 1, 2019

    The U.S. State Department spent over three years and more than $100 million on a project to rebuild a base in Afghanistan that was never rebuilt, even though the department was warned it was a bad idea from the start, according to an incisive new government watchdog report.
    https://abcnews.go.com/Politics/stat...ry?id=64683930

  28. #114
    There are rumors in media that GOPA wing leadership is planning to make a big play that would sharply spike debt and cut through debt ceilings.

    Quote Originally Posted by Warlord View Post
    He comes from socialism background, to be fair.

  29. #115
    Quote Originally Posted by kcchiefs6465 View Post
    22 Trillion Dollars*
    And a year later we're at $23.5 trillion, with multi-trillion dollar deficits far as the eye can see
    "Democracy is the theory that the common people know what they want, and deserve to get it good and hard."

    -H. L. Mencken

  30. #116
    "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.

  31. #117

  32. #118
    National Debt Could Surpass $25 Trillion Amid Spending to Combat Coronavirus

    By Jason Lemon On 3/23/20

    The national debt is projected to reach or even surpass $25 trillion as the federal government attempts to combat the fall-out from the coronavirus pandemic with trillions of dollars in economic stimulus.
    States and municipalities across the country have shuttered restaurants, bars, gyms, cinemas, schools, and public gatherings, while ordering all non-essential workers to stay home in a bid to curb the rapid spread of the COVID-19. Due to the uncertainty, the stock market has tanked and unemployment has surged, with millions of workers expecting to go without paychecks for at least the next few weeks.
    In an effort to address the economic and public health concerns, Congress is currently working on a massive stimulus package to the tune of $1.3 to $1.4 trillion, according to President Donald Trump's economic adviser Larry Kudlow. In total, the White House has hinted at $2 trillion or more of economic stimulus.
    The stimulus spending will come as the U.S. was already planning for a budget deficit of about $1 trillion in the current fiscal year. As the national debt already stands at about $23.5 trillion, CNBC reported on Monday that the ballooning debt could grow to $25 trillion or higher in the coming months.

    https://www.newsweek.com/national-de...avirus-1493758

  33. #119
    Make that $24T.
    The Bi-partisan Big Spending era is upon us and "no one has seen anything like this before".

    Federal Debt Tops $24 Trillion for First Time; GAO: 'The Current Federal Fiscal Path is Unsustainable'

    By Terence P. Jeffrey | April 9, 2020




    (CNSNews.com) - The debt of the federal government topped $24 trillion for the first time on Tuesday, when it climbed from $23,917,212,663,857.59 to $24,011,523,316,653.36, according to data released by the Treasury Department.
    On Wednesday, it continued climbing, ascending to $24,111,832,049,884.90.
    The federal debt's climb from the $23-trillion threshold to the $24-trillion threshold was the fastest climb from one trillion-dollar marker to another in the history of the federal debt—taking only 159 days.

    cnsnews.com/article/washington/terence-p-jeffrey/federal-debt-tops-24-trillion-first-time-gao-current-federal

  34. #120
    Now at 24 Trillion.

    https://decrypt.co/25041/us-debt-hit...oin-marches-on



    The US national debt has broken $24 trillion.
    It has increased $8 trillion in the last year.
    In contrast, Bitcoin has a fixed supply.
    The US national debt has surpassed $24 trillion—the largest nominal amount it’s ever been—according to the US Treasury. This is $8 trillion more than it was in March 2019.
    When life itself seems lunatic, who knows where madness lies? - Miguel de Cervantes, (Don Quixote)

    Quote Originally Posted by Voluntarist View Post
    The tree of liberty must be refreshed from time to time with the Federal Reserve Notes of patriotic central banks



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