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The Forgotten Debt

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Posted By: DanvilleBill, 12/11/2019 10:35:16 PM

Congress and the media obsess endlessly over whether President Donald Trump should be impeached. Both ignore $23 trillion of bigger problems. That's how deep in debt the federal government is now, and because they keep spending much more than they could ever hope to collect in taxes, that number will only go up. It's increasing by $1 trillion a year. "Shut up, Stossel," you say. "You've been crying wolf about America's debt for years, but we're doing great!"

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Conservative populists need to get 'woke' about this little ticking hydrogen bomb.

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Reply 1 - Posted by: MissMann 12/11/2019 11:29:38 PM (No. 259508)
I must admit I do worry about this all the time. The bill is going to come due some day and it's not going to be pretty.
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Reply 2 - Posted by: watashiyo 12/12/2019 2:00:45 AM (No. 259568)
Many politicians never had a real job. Therefore they are grossly dumb in the area of "life skill" and "Economics 101". Here we have, Mortgage Bubble, Student Loan Bubble, Credit Card Bubble, Auto Loan Bubble, and Corporate Loan Bubble. If one pops, it'll trigger a domino effect and the first thing you should do is run to the bank and withdraw all your money.....if the bank allows it. The financial chaos won't be pretty. Many will lose their life savings and every form of retirement fund. Historically, every BUBBLE did BURST!
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Reply 3 - Posted by: Trigger2 12/12/2019 4:17:52 AM (No. 259618)
But, but, the demonrats keep telling us there's plenty of money to go around. Ergo, all those demonrat candidates proposing spending trillions more. I doubt there's enough money in the world to pay for any of it. Did you know Barry's and the demonrats one trillion fake infrastructure bill for road signs and solar panels from their campaign contributor pals is still in the budget? Reid and Piglousi purposely left it in there by all their continuing resolutions. It was a way to never get rid of that extra $1T they could spend for more freebees forever more. Once the public gets used to handouts, they never go away. Now the demonrats want to take your bank accounts, IRAs, 401Ks, etc. so they can spend even that. To hell with you, spending is what counts. After all, votes depend on it.
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Reply 4 - Posted by: tootall 12/12/2019 8:34:20 AM (No. 259788)
If the US loses its status as the 'Reserve Currency' of the world, we will see a collapse of Civilization on a scale that can't be imagined. Greedy, corrupt and STUPID (sorry for yelling) Politicians who continue to spend more than we take in as a Country, will not be around when the Apocalypse occurs. If we continue to print money, and increase Government spending, which devalues the currency of other Countries, eventually they will turn against us. My Grandchildren will be left holding the bag of worthless paper. This is unacceptable. Fortunately, and I believe by accident, we have leadership in place that 'might' address this in a second term. I believe this is why so many LT Republicans are retiring. They can see Trump's play two or three steps down the line. It is possible that the gravy train might be ending. And I'm encouraged that the building of a massive project requires Mngmnt to think several hundred steps out in a specific order, while corrupt Politicians...left,right, and center... can only see as far as the cash hitting their pockets. We'll see.
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Reply 5 - Posted by: toddh 12/12/2019 9:48:54 AM (No. 259869)
~$500,000,000,000 per year on interest. Half a trillion dollars per year, every year. And it is increasing year over year. As long as we are willing and able to pay the interest, it might not be a disaster. The moment the interest becomes untenable, the dollar will be worth less.
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Congress and the media obsess endlessly over whether President Donald Trump should be impeached. Both ignore $23 trillion of bigger problems. That's how deep in debt the federal government is now, and because they keep spending much more than they could ever hope to collect in taxes, that number will only go up. It's increasing by $1 trillion a year. "Shut up, Stossel," you say. "You've been crying wolf about America's debt for years, but we're doing great!"
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