Current U.S. National Debt approaching $20 Trillion

Discussion in 'Budget & Taxes' started by kazenatsu, Sep 8, 2017.

  1. rahl

    rahl Banned

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    Sorry, but you've been shown how and why you are incorrect.
     
  2. Quadhole

    Quadhole Well-Known Member

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    No way this ADMIN. allows this to happen and part of why I know there is a collapse coming. Interest rates go up and TRUMP screams bloody murder, locks up the FED and lowers rates with an executive ORDER. Remove FED chair and puts in charge someone from FOX news. Despite the fact that he can't do either, nor does he even know it is a private corp.

    Rates will stay here until the economy slows enough from wallstreet pullback (no free money to buy back stocks) has to fall. Thus forcing the FEDS hand in cutting rates again until nothing, then maybe negative like Germany. Going to charge you money to keep in bank. At that point we go back into QE 2021 and the collapse. Can't go up and cant go down.
    No way will we use American TAX payer $'s to pay 25% interest to the debt. ? Do you think I will pay into that ? Would you ? Without going crazy ! people will wise up, just takes time.
     
  3. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    I hope everyone knows the Fed can't magically just make rates go down.
    To attempt to make rates go down, they have to engage in open market transactions, and that ends up costing money. It's an inflationary cost to make rates go down in opposition to the natural market that wants them to go up.

    That's why the Fed trying to make rates go down isn't an escape from an inflationary debt death spiral, where lenders are demanding higher interest rates to compensate them for higher anticipated inflation rates.
     
    Last edited: Aug 1, 2018
  4. FlamingLib

    FlamingLib Well-Known Member

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    The deficit last month - month, not year- was over $200 billion. The deficit for this fiscal year will top $900 billion. Next year's deficit will be over a trillion.

    Where is the Tea Party outrage?
     
  5. Reiver

    Reiver Well-Known Member

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    Probably too busy hiding from Sacha Cohen
     
  6. Battle3

    Battle3 Well-Known Member

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    Conservatives don't like the irresponsible spending, but the outrage is secondary to other issues such as the supreme court.

    And its not being reported, the media doesn't really care what people are thinking, but when the news cycle cools down and the media need an issue to keep them busy, then they will interview conservatives who don't support the high spending.

    And of course the media will spin it into some sort of "revolt by Trumps supporters and Trump is headed for disaster".
     
  7. FlamingLib

    FlamingLib Well-Known Member

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    If conservatives don't like irresponsible spending there wouldn't be massive amounts of irresponsible spending. They control all the levers of power.
     
  8. Battle3

    Battle3 Well-Known Member

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    No they do not. That's obvious to anyone who is awake.

    Not all Republicans are conservatives, that's why there is such a fight between the RINOs in leadership and the grass roots for control of the GOP.
     
  9. FlamingLib

    FlamingLib Well-Known Member

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    Which branch of government do they not control?

    That is true, Trump is no conservative, and neither are a lot of the GOP these days. Just seems kind of strange that deficits were the raison d'etre for a lot of Republicans during the Obama years, and now crickets.
     
  10. Battle3

    Battle3 Well-Known Member

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    Conservatives do not control any branch of government.

    Trump was not a conservative before 2016, in fact he seemed to be an opportunist and his political ideology seemed nonexistent. But as President he pushes the conservative agenda, whether he now believes it or that just the path he selected to get to power is TBD.

    But so what? Who cares what his personal beliefs are if he advances the conservative agenda - and thats good for the nation.

    <>

    Deficits are still a major concern, but solving the financial crisis is going to take time - more time than Trump will be in office - and will take more than just the White House. It requires the House and Senate to get a spine and reform welfare including social security, cut back on all govt activity, cut back on the military and the USA international objectives (quit nation building and messing with all the other countries).

    And Democrats will never support reducing federal spending, so conservatives need a the White House, the House, and a super majority in the Senate.

    So fiscal responsibility is not likely to happen until something collapses and the govt is forced into it.

    Which is why some other issues which can be addressed and progress made - such as stopping activist judges and appointing judges who follow the Constitution - .get more attention.
     
  11. FlamingLib

    FlamingLib Well-Known Member

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    I don't believe it. SCOTUS has only been an issue for the past month. There have been plenty gaps in the news cycle where conservatives could have pushed back against the deficit. And the lack of protesting from the Tea Party, when deficits are set to hit the TRILLION MARK, is deafening.

    There are only two possible conclusions:
    deficits for me and nor for thee, OR
    deficits only matter when the president is black

    After Charlottesville and Trump's non-impeachment, I conclude the latter. Max Boot is right: the GOP is now a white-nationalist party with a conservative fringe.
     
    Last edited: Sep 29, 2018
  12. Reiver

    Reiver Well-Known Member

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    It has always been a fallacy that Conservatism includes 'classical liberals' (focused on limited government). Classical Liberals are dead. Its not been corrupted by funding by the rich as a means to promote a neo-liberal agenda. At no stage does that reduce government. It simply twists government into support of rent seeking behaviour by the few against the many.
     
  13. Battle3

    Battle3 Well-Known Member

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    Consider this - clearly you are not a Tea Party person, not even a conservative, but a "flaming lib". Your personal contact with conservatives is probably nil, and you are probably surrounded by other flaming libs who say only the worst things about conservatives.

    So how do you know conservatives have abandoned their concern over the rampant spending? I am conservative and Tea Party, and I consider the USA fiscal problem critical. Almost everyone I know feels the same as I do. We tell our congress critters and Trump, in letters and town halls and phone calls.

    The media doesn't care what we think, so you wont hear it from them.

    And like I wrote earlier, its going to take time and a change in DC to actually solve the problem. Its a huge problem and will take time even if all of DC was engaged.
     
  14. Distraff

    Distraff Well-Known Member

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    Guess who signed the 2017 budget.
     
  15. 61falcon

    61falcon Well-Known Member

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    How about approaching 22TRILLION!!!
     
  16. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    Interesting how much that debt can go up in only 13 months.

    It was just under 20 when this thread first started.
     
    Last edited: Oct 18, 2018
  17. Liberty Monkey

    Liberty Monkey Well-Known Member

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  18. Reiver

    Reiver Well-Known Member

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  19. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    Simpsons episode from 2000 seems to have predicted the future:

    "As you know, we've inherited quite a budget crunch from President Trump.
    How bad is it, Secretary Van Houten?"
    "We're broke."
    "The country is broke?!? How can that be?"
    "Well, remember when the last administration decided to invest in our nation's children? Big mistake." (student loan debt and the college bubble?)
    "What about my pledge to build the world's largest book mobile, isn't there any money left for that?"
    "No! And we've borrowed from every country in the world!"

     
    Last edited: Oct 19, 2018

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