$1,920,000,000,000 Debt Explosion Hits US As International Monetary Fund Issues Dire Warning on Nation's 'Loose Fiscal Policy'

[sun rise]

Given all the tax cutting proposals that floated around recently, I have zero confidence that the deficit gets stabilized. Zero. Instead we'll see net borrow and spend while the disproven trickle down fallacy will be trotted out of the coffin once again. Because history proves that whenever Republicans take over government this pattern repeats. Anyone who thinks it will be different this time is welcome to buy a bridge I'm selling.

$1,920,000,000,000 Debt Explosion Hits US As International Monetary Fund Issues Dire Warning on Nation's 'Loose Fiscal Policy'

​

In both the US and China, the IMF says current debt trajectories are unsustainable.​

​

“After years of loose fiscal policy, it is now time to stabilize debt dynamics and rebuild much-needed fiscal buffers…​

​

For some countries, like the United States and China, debt dynamics are not stabilized under current fiscal plans. In many others, while early fiscal plans showed promise after the pandemic and cost-of-living crises, there are increasing signs of slippage.”​

...​

“The path is narrow: unduly delaying adjustment increases the risk of disorderly market-imposed adjustments, while an excessively sharp turn toward fiscal consolidation would be self-defeating and hurt economic activity.​

​

Success requires staying the course by implementing gradual and credible multiyear adjustments without delay, where consolidation is necessary. The more credible and disciplined the fiscal adjustment, the more monetary policy will be able to play a supporting role. But the willingness and ability to deliver disciplined and credible adjustments have been lacking.”​

 

[We Never Know]

Given all the tax cutting proposals that floated around recently, I have zero confidence that the deficit gets stabilized. Zero. Instead we'll see net borrow and spend while the disproven trickle down fallacy will be trotted out of the coffin once again. Because history proves that whenever Republicans take over government this pattern repeats. Anyone who thinks it will be different this time is welcome to buy a bridge I'm selling.

$1,920,000,000,000 Debt Explosion Hits US As International Monetary Fund Issues Dire Warning on Nation's 'Loose Fiscal Policy'

​

In both the US and China, the IMF says current debt trajectories are unsustainable.​

​

“After years of loose fiscal policy, it is now time to stabilize debt dynamics and rebuild much-needed fiscal buffers…​

​

For some countries, like the United States and China, debt dynamics are not stabilized under current fiscal plans. In many others, while early fiscal plans showed promise after the pandemic and cost-of-living crises, there are increasing signs of slippage.”​

...​

“The path is narrow: unduly delaying adjustment increases the risk of disorderly market-imposed adjustments, while an excessively sharp turn toward fiscal consolidation would be self-defeating and hurt economic activity.​

​

Success requires staying the course by implementing gradual and credible multiyear adjustments without delay, where consolidation is necessary. The more credible and disciplined the fiscal adjustment, the more monetary policy will be able to play a supporting role. But the willingness and ability to deliver disciplined and credible adjustments have been lacking.”​

Our debt(the US) has been out of control for many years. I don't see it doing anything but increasing like it has since 1835-1836 when it was at zero.

At current the debt is around $36 trillion. That's an average of $191,489,361,702 increase per year the last 188 years.

Its sad in reality.

 

[Daemon Sophic]

Our debt(the US) has been out of control for many years. I don't see it doing anything but increasing like it has since 1835-1836 when it was at zero.

At current the debt is around $36 trillion. That's an average of $191,489,361,702 increase per year the last 188 years.

Its sad in reality.

While true, the only time that the deficit trended downward for a couple of years was under the Bill Clinton administration.
But the fact that tRump's deficit spending was over twice Biden's (only comparing their first 3 years each - which of course avoids COVID for tRump, and includes it along with the recovery from COVID for Biden) is disturbing to everyone who actually reviewed the historical facts of how tRump took Obama's record economic success, and tossed it out the window.

Now, the international markets, and our alliances with other nations (both economically and militarily) are understandably very concerned about the return of such an incompetent "businessman".

 

[Nimos]

Given all the tax cutting proposals that floated around recently, I have zero confidence that the deficit gets stabilized. Zero. Instead we'll see net borrow and spend while the disproven trickle down fallacy will be trotted out of the coffin once again. Because history proves that whenever Republicans take over government this pattern repeats. Anyone who thinks it will be different this time is welcome to buy a bridge I'm selling.

$1,920,000,000,000 Debt Explosion Hits US As International Monetary Fund Issues Dire Warning on Nation's 'Loose Fiscal Policy'

​

In both the US and China, the IMF says current debt trajectories are unsustainable.​

​

“After years of loose fiscal policy, it is now time to stabilize debt dynamics and rebuild much-needed fiscal buffers…​

​

For some countries, like the United States and China, debt dynamics are not stabilized under current fiscal plans. In many others, while early fiscal plans showed promise after the pandemic and cost-of-living crises, there are increasing signs of slippage.”​

...​

“The path is narrow: unduly delaying adjustment increases the risk of disorderly market-imposed adjustments, while an excessively sharp turn toward fiscal consolidation would be self-defeating and hurt economic activity.​

​

Success requires staying the course by implementing gradual and credible multiyear adjustments without delay, where consolidation is necessary. The more credible and disciplined the fiscal adjustment, the more monetary policy will be able to play a supporting role. But the willingness and ability to deliver disciplined and credible adjustments have been lacking.”​

Does it matter?

If it didn't when it was 1.5X, who cares if it's 3.X.. whatever?

I don't think I will ever understand economics

 

[We Never Know]

While true, the only time that the deficit trended downward for a couple of years was under the Bill Clinton administration.
But the fact that tRump's deficit spending was over twice Biden's (only comparing their first 3 years each - which of course avoids COVID for tRump, and includes it along with the recovery from COVID for Biden) is disturbing to everyone who actually reviewed the historical facts of how tRump took Obama's record economic success, and tossed it out the window.

Now, the international markets, and our alliances with other nations (both economically and militarily) are understandably very concerned about the return of such an incompetent "businessman".

The current national debt is $35.9 trillion.

The national debt at the end of fiscal year 2020 was $26,945 trillion. (3 months before Trump left office)

That's up $9 trillion to current since October 2020

The national debt at the end of fiscal year 2021 was $28.428 trillion(9 months after Trump left office)

That's up $7.5 trillion to current since 2021.

Are your trying to tell me Trump raised the national debt $15 trillion(twice as much as Biden)?

National debt at the end of the fiscal year for...

2016 $19,573 trillion
2017 $20,245 trillion
2018 $21,516 trillion
2019 $22,719 trillion
2020 $26,945 trillion
2021 $28,428 trillion
2022 $30,928 trillion
2023 $33,167 trillion
2024 Current $35.9 trillion

 

[Daemon Sophic]

Source - Trump and Biden: The National Debt | Committee for a Responsible Federal Budget

 

[We Never Know]

Source - Trump and Biden: The National Debt | Committee for a Responsible Federal Budget

National debt at the end of the fiscal year for...

2016 $19,573 trillion
2017 $20,245 trillion
2018 $21,516 trillion
2019 $22,719 trillion
2020 $26,945 trillion
2021 $28,428 trillion
2022 $30,928 trillion
2023 $33,167 trillion
2024 Current $35.9 trillion

https://www.investopedia.com/us-national-debt-by-year-7499291h

 

[Shadow Wolf]

National debt at the end of the fiscal year for...

2016 $19,573 trillion
2017 $20,245 trillion
2018 $21,516 trillion
2019 $22,719 trillion
2020 $26,945 trillion
2021 $28,428 trillion
2022 $30,928 trillion
2023 $33,167 trillion
2024 Current $35.9 trillion

https://www.investopedia.com/us-national-debt-by-year-7499291h

So? What of it?

 

[We Never Know]

So? What of it?

If you can't read the 6 other posts and figure that out I can't help ya lol

 

[Shadow Wolf]

If you can't read the 6 other posts and figure that out I can't help ya lol

All you're doing is posting numbers as though that's the full picture and all that matters.
Here's a hint. A government budget isn't like a household or business budget (because it's a state and not those things) and there's this thing called GDP.

 

[blü 2]

$1,920,000,000,000 Debt Explosion Hits US As International Monetary Fund Issues Dire Warning on Nation's 'Loose Fiscal Policy'

Why, that's only $55,460 per head of population!

If everyone in the US (man, woman, child, tourist, visitor, infant, geriatric patient, felon, illegal immigrant &c) just adds $55,460 to their next tax cheque, everything will be perfectly splendid!

I know Donald will agree with me.

 

[Valjean]

All you're doing is posting numbers as though that's the full picture and all that matters.
Here's a hint. A government budget isn't like a household or business budget (because it's a state and not those things) and there's this thing called GDP.

Good point. Once again, simplistic assessment of a multifactoral problem leaves the Big Picture unclear.

Much of this debt, by the way, we owe to ourselves.

 

[Shadow Wolf]

Good point. Once again, simplistic assessment of a multifactoral problem leaves the Big Picture unclear.

Much of this debt, by the way, we owe to ourselves.

Yup. It's like they think a balanced budget means you make ends meet comfortably enough to build a generous savings like a household, or like a business ensuring makes money after all expenses and measured against revenue. But, no, a balanced budget is actually quite literal with what it says and means.

 

[sun rise]

Sooner or later debts have to be paid. If later, the economic disruption can be really ugly as some nations have discovered.

 

[We Never Know]

All you're doing is posting numbers as though that's the full picture and all that matters.
Here's a hint. A government budget isn't like a household or business budget (because it's a state and not those things) and there's this thing called GDP.

Yes you have to look at many numbers. One good one to look at is Spending to GDP Ratio.

In 2020 Trump it was 39.36%
In 2024 Biden it its 38.29%

That's down around 0.8% with Biden.
No where near $4 trillion.

 

[Revoltingest]

All you're doing is posting numbers as though that's the full picture and all that matters.
Here's a hint. A government budget isn't like a household or business budget (because it's a state and not those things) and there's this thing called GDP.

The numbers tell me that both Dems & Pubs
approve budgets that expand the deficit, &
increase the national debt.
It says nothing about Biden relative to Trump.

That's the problem with just posting links or
excerpts without presenting one's inference.
A poster might believe they say one thing,
but others might see a different picture.

 

[Clizby Wampuscat]

Given all the tax cutting proposals that floated around recently, I have zero confidence that the deficit gets stabilized. Zero. Instead we'll see net borrow and spend while the disproven trickle down fallacy will be trotted out of the coffin once again. Because history proves that whenever Republicans take over government this pattern repeats. Anyone who thinks it will be different this time is welcome to buy a bridge I'm selling.

$1,920,000,000,000 Debt Explosion Hits US As International Monetary Fund Issues Dire Warning on Nation's 'Loose Fiscal Policy'

​

In both the US and China, the IMF says current debt trajectories are unsustainable.​

​

“After years of loose fiscal policy, it is now time to stabilize debt dynamics and rebuild much-needed fiscal buffers…​

​

For some countries, like the United States and China, debt dynamics are not stabilized under current fiscal plans. In many others, while early fiscal plans showed promise after the pandemic and cost-of-living crises, there are increasing signs of slippage.”​

...​

“The path is narrow: unduly delaying adjustment increases the risk of disorderly market-imposed adjustments, while an excessively sharp turn toward fiscal consolidation would be self-defeating and hurt economic activity.​

​

Success requires staying the course by implementing gradual and credible multiyear adjustments without delay, where consolidation is necessary. The more credible and disciplined the fiscal adjustment, the more monetary policy will be able to play a supporting role. But the willingness and ability to deliver disciplined and credible adjustments have been lacking.”​

Neither party has addressed the deficit and debt. Was it ever brought up in a debate or ever by either side? This is a failing of both parties.

 

[sun rise]

Neither party has addressed the deficit and debt. Was it ever brought up in a debate or ever by either side? This is a failing of both parties.

Without getting into a whose lying with statistics debate, that's the nub of the problem.

 

[Clizby Wampuscat]

Without getting into a whose lying with statistics debate, that's the nub of the problem.

Yeah, and I don't get it. I am not sure why no politician cares? Is it just because they won't be affected by the disaster that is coming?

 

[We Never Know]

Yeah, and I don't get it. I am not sure why no politician cares? Is it just because they won't be affected by the disaster that is coming?

IMO if the politicians cared we wouldn't be in debt almost $36 trillion.