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

[Shadow Wolf]

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.

You can't even infer that as if the numbers went far back enough it wouldn't reflect Clinton's balanced budget and surplus. Nor would it reflect the Reps being worse about deficit spending.
All it shows us is the Federal Government is in debt. It also doesn't mention covid, with 2020 beint the largest one year imcrease

 

[Revoltingest]

You can't even infer that....

Given shifting party dominance in the presidency
& Congress tend to result in increasing deficit
spending & national debt, it is indeed most
cromulent to see bi-partisan support.
Balanced budgets are a rarity, not the norm.

U.S. Budget Deficit by Year Compared to GDP and Debt

The federal budget deficit rises when government spending is high, such as during wars or recessions. Budget deficits cause the national debt to grow.

www.thebalancemoney.com

 

[crossfire]

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?

The two parties will just blame each other. We the people are gonna have to hold our congress-critters' feet to the fire if we want to see any progress. Democrats and Republicans are going to have to work together, and we the people need to be diligent to make sure they do work together.

 

[Clizby Wampuscat]

The two parties will just blame each other. We the people are gonna have to hold our congress-critters' feet to the fire if we want to see any progress. Democrats and Republicans are going to have to work together, and we the people need to be diligent to make sure they do work together.

I agree, I have my doubts this will happen.

 

[sun rise]

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?

Mostly I see pandering. There is no politician I've seen in decades who has the courage to say what JFK said in 1961 and today saying that would be a losing quote:

"Ask not what your country can do for you. Ask what you can do for your country"

 

[Clizby Wampuscat]

Mostly I see pandering. There is no politician I've seen in decades who has the courage to say what JFK said in 1961 and today saying that would be a losing quote:

"Ask not what your country can do for you. Ask what you can do for your country"

Gen X voted for Trump at a high percentage. We are known for self reliance. For me it is about working my *** off to get what I want out of life and seeing others get it for nothing. I think there are plenty of people that believe in what JFK said. Just not many on the left.

 

[Valjean]

Mostly I see pandering. There is no politician I've seen in decades who has the courage to say what JFK said in 1961 and today saying that would be a losing quote:

"Ask not what your country can do for you. Ask what you can do for your country"

Bernie Sanders?

 

[sun rise]

Gen X voted for Trump at a high percentage. We are known for self reliance. For me it is about working my *** off to get what I want out of life and seeing others get it for nothing. I think there are plenty of people that believe in what JFK said. Just not many on the left.

I don't want to get into a political back/forth but Trump promised tax cuts all over the place and people voted for him. If the right really believed in cutting the deficit, they'd vote for tax increases along with spending cuts. Instead they cut taxes and the deficit gets worse.

 

[RestlessSoul]

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

It matters because government has to pay interest on the debt; and the rate of interest the government pays on it's debt, has a bearing on the interest businesses and private citisens have to pay on theirs.

 

[stvdv]

Given all the tax cutting proposals that floated around recently,

Given the rich elites such as Bill Gates, Elon Musk, Jeff Bozos etc.etc. are 'stealing' billions

I have zero confidence that the deficit gets stabilized

$1,920,000,000,000 Debt Explosion Hits US As International Monetary Fund Issues Dire Warning on Nation's 'Loose Fiscal Policy'
=
$1920 billion

That's so obvious how this deficit occurred:

Just add all the billions the billionaires have stolen, by their unfair (Adharmic) businesses

And you get easily

$1,920,000,000,000 = $1920 billion

Note: Gates(100)+Bezos(250)+Elon(350)
That's already ca. 800 of the 1920 billion
One need.ot be a genius to get it right

Note: Elon went up 70 billion in 2 weeks
More obvious then this you won't get it

 

[Clizby Wampuscat]

I don't want to get into a political back/forth but Trump promised tax cuts all over the place and people voted for him. If the right really believed in cutting the deficit, they'd vote for tax increases along with spending cuts. Instead they cut taxes and the deficit gets worse.

Maybe, but you can cut taxes and reduce spending at the same time to reduce the deficit. Trump is going to try to reduce the size of the federal government significantly.

 

[crossfire]

Well, you have to have deficit spending in order to issue US Treasury Bonds for the rich to have a place to make a non-productive-non-production (does not trickle down) profit on their tax cuts!

 

[wellwisher]

Big Government is also trickle down. All the tax and borrowing starts with Government having this pile of money. Then they prioritize the trickle down. Trump was better at Government Trickle down, so he had a strong economy that was good for all people. The Biden team trickled in a partisan way and screwed the pooch; inflation. Under Trump, Trump and the RNC, Pelosi and the DNC all got their way, making for a more balanced trickle down. Under Biden-Harris, it was too lopsided Green, woke and too much printing of money. The trickle down was in an unbalanced way. Illegal immigration was like a government debt trickle down to local communities.

The irony is Trump wants to downsize Government, which will cut costs, yet the DNC will resist Trump and downsize, and complain about debt that lingers while voting for more debt. The DNC just does not get it. If we froze government spending that saves $trillion. How about all Government Employees get moved to SS and Medicare, and lose the expensive deal they currently have? That will sure up both programs and save money.

 

[crossfire]

Any idea how much the "massive deportation" is going to cost?

 

[Clizby Wampuscat]

Any idea how much the "massive deportation" is going to cost?

How much will it cost us if we don't deport people? There is a cost for that too.

 

[Terrywoodenpic]

Were the dollar to lose its reserve currency status. And nations used other currencies to trade.
Then the dollar would collapse.
Countries have started to use other currencies to trade. They are also buying and repatriating their gold reserves from western banks. They are also selling their dollar bonds.

I would not want to be the president in power when this comes to a conclusion.
The dollar will not be worth the paper it is printed on. The run on banks and the stock market will make the great depression to look like a tea party.

Trump is doing his best to qualify.
He has lots of experience with bankruptcy, so he is a natural for the job.

 

[Terrywoodenpic]

Any idea how much the "massive deportation" is going to cost?

And what is it going to achieve.
I suggest it is certain to end up as a massive loss to the economy.
It is not as if these people are not needed or do not pay their way.

 

[Clizby Wampuscat]

And what is it going to achieve.
I suggest it is certain to end up as a massive loss to the economy.
It is not as if these people are not needed or do not pay their way.

They are going to start with the criminals. Do you have an issue with that?

 

[crossfire]

They are going to start with the criminals. Do you have an issue with that?

Would it cost more to deport them or incarcerate them?

 

[Clizby Wampuscat]

Would it cost more to deport them or incarcerate them?

Well you cannot incarcerate them if they committed crimes in other countries. They should not be here based on their criminal behavior either here or in another country. I don't see how incarcerating them would be cheaper than deporting them.