Nothing exclusive simply tracking FY 2018 debt progress

Discussion in 'Budget & Taxes' started by Ndividual, Nov 3, 2017.

  1. Reiver

    Reiver Well-Known Member

    Joined:
    Sep 24, 2008
    Messages:
    39,883
    Likes Received:
    2,144
    Trophy Points:
    113
    You could have a general moan about the US reliance on debt (both through consumerism and government waste, such as its military burden). Its true that the US economy has significant structural flaws. The problem of course is that, except for some of the progressives, they would find the solution unpalatable. Better to just whinge and whine!
     
  2. 61falcon

    61falcon Well-Known Member

    Joined:
    Apr 27, 2018
    Messages:
    21,436
    Likes Received:
    12,227
    Trophy Points:
    113
    Gender:
    Male
    The solution would be stop giving the wealthy tax breaks they do not need.
     
  3. Reiver

    Reiver Well-Known Member

    Joined:
    Sep 24, 2008
    Messages:
    39,883
    Likes Received:
    2,144
    Trophy Points:
    113
    That won't be enough. You'd need to find a means to significantly reduce inequalities, rather than just reduce the unlevel playing field.
     
  4. Ndividual

    Ndividual Well-Known Member

    Joined:
    Aug 21, 2013
    Messages:
    3,960
    Likes Received:
    638
    Trophy Points:
    113
    FY 2017 ended on 09/29/2017 with our government reporting a total debt of $20,244,900,016,053.51


    FY 2018 Mo 01 debt now $20,442,473,549,889.39 a monthly change of $197,573,533,835.88
    FY 2018 Mo 02 debt now $20,590,391,942,312.26 a monthly change of $147,918,392,422.87
    FY 2018 Mo 03 debt now $20,492,746,546,193.75 a monthly change of −$97,645,396,118.51
    FY 2018 Mo 04 debt now $20,493,729,921,939.72 a monthly change of ...... $983,375,745.97
    FY 2018 Mo 05 debt now $20,855,671,542,905.95 a monthly change of $361,941,620,966.23
    FY 2018 Mo 06 debt now $21,089,642,954,195.85 a monthly change of $233,971,411,289.90
    FY 2018 Mo 07 debt now $21,068,200,197,433.39 a monthly change of −$21,442,756,762.46
    FY 2018 Mo 08 debt now $21,145,215,185,726.27 a monthly change of ..$77,014,988,292.88
    FY 2018 Mo 09 debt now $21,195,069,635,322.81 a monthly change of ..$49,854,449,596.54
    FY 2018 Mo 10 debt now $21,313,061,060,202.36 a monthly change of $117,991,424,879.55
     
  5. Reiver

    Reiver Well-Known Member

    Joined:
    Sep 24, 2008
    Messages:
    39,883
    Likes Received:
    2,144
    Trophy Points:
    113
    Ndiv copies and pastes well. Shame there isn't any context.
     
  6. Ndividual

    Ndividual Well-Known Member

    Joined:
    Aug 21, 2013
    Messages:
    3,960
    Likes Received:
    638
    Trophy Points:
    113
    This thread was started for no reason other than to provide data showing our Federal debt change each month. My expectation was that it would be a 12 post thread. Any conversation or debate about the debt should then result in the creation of another thread with the OP setting a context for discussion/debate to follow.
    My thread title states it to be "simply tracking the FY 2018 debt" noting that not everyone pays it much attention.
    The Federal debt has increased $21,284,580,588,348.17 since my birth.
     
    Last edited: Aug 4, 2018
  7. Reiver

    Reiver Well-Known Member

    Joined:
    Sep 24, 2008
    Messages:
    39,883
    Likes Received:
    2,144
    Trophy Points:
    113
    Creating a thread aimed at avoiding context? Sounds perfect for your approach to economics!
     
  8. Ndividual

    Ndividual Well-Known Member

    Joined:
    Aug 21, 2013
    Messages:
    3,960
    Likes Received:
    638
    Trophy Points:
    113
    As I said, I'm providing a source of data for quick and easy access. Feel free to apply it in a thread with a context of your liking, and I might even respond to those who post in it who are not on my ignore list, which you are on so further response in this thread will likely be a waste of your time, but not mine.
     
    Last edited: Aug 4, 2018
  9. Reiver

    Reiver Well-Known Member

    Joined:
    Sep 24, 2008
    Messages:
    39,883
    Likes Received:
    2,144
    Trophy Points:
    113
    Data without context is always useless. You might as well be plugging in distances you walked your pet Yorkie
     
  10. Ndividual

    Ndividual Well-Known Member

    Joined:
    Aug 21, 2013
    Messages:
    3,960
    Likes Received:
    638
    Trophy Points:
    113
    FY 2017 ended on 09/29/2017 with our government reporting a total debt of $20,244,900,016,053.51


    FY 2018 Mo 01 debt now $20,442,473,549,889.39 a monthly change of $197,573,533,835.88
    FY 2018 Mo 02 debt now $20,590,391,942,312.26 a monthly change of $147,918,392,422.87
    FY 2018 Mo 03 debt now $20,492,746,546,193.75 a monthly change of −$97,645,396,118.51
    FY 2018 Mo 04 debt now $20,493,729,921,939.72 a monthly change of ...... $983,375,745.97
    FY 2018 Mo 05 debt now $20,855,671,542,905.95 a monthly change of $361,941,620,966.23
    FY 2018 Mo 06 debt now $21,089,642,954,195.85 a monthly change of $233,971,411,289.90
    FY 2018 Mo 07 debt now $21,068,200,197,433.39 a monthly change of −$21,442,756,762.46
    FY 2018 Mo 08 debt now $21,145,215,185,726.27 a monthly change of ..$77,014,988,292.88
    FY 2018 Mo 09 debt now $21,195,069,635,322.81 a monthly change of ..$49,854,449,596.54
    FY 2018 Mo 10 debt now $21,313,061,060,202.36 a monthly change of $117,991,424,879.55
    FY 2018 Mo 11 debt now $21,458,849,674,105.03 a monthly change of $145,788,613,902.67
     
  11. OldManOnFire

    OldManOnFire Well-Known Member

    Joined:
    Jul 2, 2008
    Messages:
    19,980
    Likes Received:
    1,177
    Trophy Points:
    113
    People don't care about debt...they only care about themselves...
     
  12. Reiver

    Reiver Well-Known Member

    Joined:
    Sep 24, 2008
    Messages:
    39,883
    Likes Received:
    2,144
    Trophy Points:
    113
    People care about their debt. The figures presented have no context and therefore no economic value
     
  13. OldManOnFire

    OldManOnFire Well-Known Member

    Joined:
    Jul 2, 2008
    Messages:
    19,980
    Likes Received:
    1,177
    Trophy Points:
    113
    Many people are careless with debt and most ALL people do not care about government debt...out of site out of mind...
     
  14. Reiver

    Reiver Well-Known Member

    Joined:
    Sep 24, 2008
    Messages:
    39,883
    Likes Received:
    2,144
    Trophy Points:
    113
    You miss the point: personal and government debt cannot be compared. Throwing out numbers, without providing context, pretends otherwise.
     
  15. OldManOnFire

    OldManOnFire Well-Known Member

    Joined:
    Jul 2, 2008
    Messages:
    19,980
    Likes Received:
    1,177
    Trophy Points:
    113
    We can compare apples and oranges so we can compare personal and public debt. The type of debt are different but the root philosophy is the same; borrowing from the future to pay the present. Don't know about your side of the pond but in the USA it is rare to find anyone not using debt money. It's so common that few give it any thought, and this is what carries over to public debt...almost no one cares!
     
  16. Reiver

    Reiver Well-Known Member

    Joined:
    Sep 24, 2008
    Messages:
    39,883
    Likes Received:
    2,144
    Trophy Points:
    113
    We can't actually. We'd be comparing one apple with a few trillion oranges. Good luck with that!
     
  17. OldManOnFire

    OldManOnFire Well-Known Member

    Joined:
    Jul 2, 2008
    Messages:
    19,980
    Likes Received:
    1,177
    Trophy Points:
    113
    It's still a comparison...
     
  18. Distraff

    Distraff Well-Known Member

    Joined:
    Feb 4, 2011
    Messages:
    10,833
    Likes Received:
    4,092
    Trophy Points:
    113
    Looks like we have another case of musical chairs. Republicans are off the debt threads but when they are on, they are trying to justify it. Democrats are the deficit hawks. It was the reverse a few years ago. Just proves that Americans love going into debt and only talk fiscal responsibility for political convenience.
     
  19. Reiver

    Reiver Well-Known Member

    Joined:
    Sep 24, 2008
    Messages:
    39,883
    Likes Received:
    2,144
    Trophy Points:
    113
    Just an irrelevant one.
     
  20. CourtJester

    CourtJester Well-Known Member

    Joined:
    Apr 1, 2013
    Messages:
    27,769
    Likes Received:
    4,921
    Trophy Points:
    113
    I think given the current deficit you should tax more if you are going to spend more. Agree that the rule doesn't apply to every possible situation but I do think it applys now and probably quite a ways into the future. That by the way is not to say that any deficit is bad or that having a balanced budget is a good idea.
     
  21. Reiver

    Reiver Well-Known Member

    Joined:
    Sep 24, 2008
    Messages:
    39,883
    Likes Received:
    2,144
    Trophy Points:
    113
    It would arguably be good to increase progressivity in order to ensure more redistribution. Inequalities often harm economic activity after all.

    The trouble is that you get folk abusing the Laffer Curve (which is often multipeaked and justifies tax increases)
     
  22. CourtJester

    CourtJester Well-Known Member

    Joined:
    Apr 1, 2013
    Messages:
    27,769
    Likes Received:
    4,921
    Trophy Points:
    113
    Lets not get into the Laffer curve. It is really much more a hypothesis than a fact. A search for proof of the Laffer Curve is a fruitless exercise.

    And While the thought that inequality often harms economic activity is appealing not sure you can produce aby real evidence.
     
    Last edited: Sep 19, 2018
  23. Reiver

    Reiver Well-Known Member

    Joined:
    Sep 24, 2008
    Messages:
    39,883
    Likes Received:
    2,144
    Trophy Points:
    113
    One chosen randomly...

    https://link.springer.com/article/10.1007/s10887-013-9099-8
     
  24. CourtJester

    CourtJester Well-Known Member

    Joined:
    Apr 1, 2013
    Messages:
    27,769
    Likes Received:
    4,921
    Trophy Points:
    113
  25. Bluesguy

    Bluesguy Well-Known Member Donor

    Joined:
    Jun 13, 2010
    Messages:
    153,325
    Likes Received:
    38,996
    Trophy Points:
    113
    Gender:
    Male
    What if it means higher tax revenues?
     

Share This Page