22 trillion

Discussion in 'Politics' started by ojibwa62, Feb 13, 2019.

  1. ojibwa62

    ojibwa62 12 pointer

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    Just let that sink in..
    About a two years ago, President Trump pledged to eliminate the national debt "over a period of eight years." But for the first time in history, the national debt surpassed $22 trillion this week, according to the U.S. Treasury.
    DC can pass all the budgets they want but untill we cut SPENDING the national debt will continue to grow.. about a year President Trump signed, a suspension on the federal debt limit allowing the government to borrow an unlimited amount of money until March 1, 2019. As long as we keep borrowing and printing we will never get out of this hole.. You have heard this before but if you ran your household the way DC runs it's house we would all be in the street. The national debt was roughly 20 trillion when Obama left office.
     
    drakeshooter likes this.
  2. Limited government, fiscal restraint and personal responsibility — the 3 tenants of conservatism — are dead.
     
    RLWEBB, Ataulbe1, davers and 2 others like this.
  3. EC

    EC 12 pointer

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    I just don't see how we pull out of this...with unfunded programs like Medicaid, Medicare, Social Security (which they've been ripping off since the 60s) that makes it well over $100 TRILLION in fiscal obligations.

    The only option would be to get rid of the Federal Reserve and find out that 90% of their commitments don't even belong to the country and learn it is a giant stealing scam of their foreign banks--just like Iceland found out.
     
    drakeshooter and ojibwa62 like this.
  4. EdLongshanks

    EdLongshanks 12 pointer

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    War is really the only way. Inflation and taxes won’t cover the cost, regardless of how much growth the economy can muster.
     
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  5. Marsh CallUser

    Marsh CallUser 12 pointer

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    We can, but it will take a while. Obama took care of that during his term by adding 10 trillion, more than any other president in history.
     
  6. carnivore

    carnivore 12 pointer

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    So when you and i are in debt there are consequences. People stop lending to us, low credit score means worse interest rates, people start repoing our assets, and if we go bankrupt most of our creditors will lose thier money and we get to start over but people will not lend us money in the future at a reasonable rate.
    My question is what are the long term consequences when a goverment continues to increase thier debts? How would that play out?
     
  7. High Rack

    High Rack 12 pointer

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    Trump stepped on his tongue when he said this, there was just so much to fix when he came in, I do not think he had a very good grasp on just how bad things were. He now knows the ills of what is before him, he has got the economy going which was priority one, he has hit the trade deals with major changes, priority two, he hit the NATO countries making them pay up, Priority three, now he is going after the Border and all that's involved as priority four, and now he is going to start getting us out of the sand pit after 19 years.

    Here we finally have a POTUS who is real on putting this country on the right track. Once these things are in place, this country will stop running deficits and finally start seeing a surplus. He has done this almost on his own, who knows what it could have been if he had just a little bit of help. Have no doubt , that once this Russia BS is over, he along with the republicans will hit another gear. Just let that sink in.
     
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  8. When you take that $100,000,000,000,000 and figure out how much it would take per day every day to pay just the principal down in 20 years you will get an idea of the impossibility of it. Even using the stated $20 trillion figure will give you same result. It will never be paid down.
     
    Nock, EC, ojibwa62 and 1 other person like this.
  9. Wildcat

    Wildcat 12 pointer

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    It is going to KEEP heading in one direction.

    Didn't the last partial govt shutdown teach anybody anything????

    25% of the govt was shut down for just a few weeks and people were blowing their minds.

    To ever start to turn that debt back requires 50%+ CUT in spending and that means a 50%+ cut in govt. for YEARS

    Not going to happen.
     
  10. Maybe old horse face is on to something, just print more money duh.
     
  11. EdLongshanks

    EdLongshanks 12 pointer

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    Eliminating the catastrophes known as social security and Medicare would be a phenomenal start. That alone would make the idea of significantly reducing the debt plausible
     
  12. EdLongshanks

    EdLongshanks 12 pointer

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    That’s becoming their economic philosophy. It’s that stupid....and it’s theirs. We have officially arrived in the twilight zone.
     
    drakeshooter likes this.
  13. EC

    EC 12 pointer

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    Their deal is...they (federal reserve) can print up money anytime they want to and without accountability (never mind printing money endlessly is insanely dangerous--they don't give a rats as long as their interests are protected). Because if we printed our own money on a whim, they'd put us in prison. A possible option, albeit weak,we would have to have 20 jobs or more.
     
  14. Wildcat

    Wildcat 12 pointer

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    The problem with that is we, the working TAXPAYERS have ALREADY paid into both. Congress BORROWED money from the SS for years to pay for their ideas and programs in more govt. Obama took $700 Million from Medicare with the promise to pay it back to help start Obamacare, never paid a dime back. Congress and Obama are in DEBT TO THE TAXPAYER, Congress and Obama being the govt. Closing either one does NOT get rid of the debt owned to the TAXPAYER.
     
    drakeshooter and EC like this.
  15. EC

    EC 12 pointer

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    Obama also stole from the investors of Fannie Mae and Freddie Mac. Yet he's not in prison because laws are only for the chumps, not them. That's justice...just us, not you.


    Report: Obama illegally robbed Fannie Mae and Freddie Mac to fund Obamacare scheme
    https://www.intellihub.com/report-o...nie-mae-and-freddie-mac-to-fund-obama-scheme/
     
    drakeshooter and Hillfarm like this.

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