Post New Article

America’s national debt has now surpassed
$31 trillion

Original Article

Posted By: MDConservative, 10/5/2022 9:39:06 AM

America’s national debt has climbed north of $31 trillion for the first time, a milestone that comes at a time of historically high inflation, rising interest rates and growing economic uncertainty. The nation’s total public debt outstanding closed at $31.1 trillion on Monday, according to Treasury Department data published Tuesday. The US government went on a borrowing spree during the Covid-19 pandemic to help shore up the nation’s economy as the deadly virus upended lives, labor markets and supply chains. Outstanding debt has climbed nearly $8 trillion since the beginning of 2020. And it has jumped by $1 trillion in just eight months.

Comments:

The source of inflation is government spending, and ours has been on a credit card spree since it seems forever. Since 2019 the cumulative rate of inflation has sliced 16 percent from the value of a dollar. Neither party is truly committed to taking the political heat to bring things back to balance. Shades of the last great inflation (1968-82).

Post Reply

Reply 1 - Posted by: kennedylaw 10/5/2022 10:14:15 AM (No. 1295962)
Last year, interest on the national debt was over $400 Billion. Interest rates have increased significantly since then. I would not be surprised if interest on the national debt hits $1 Trillion next year. We are stuck in a slow motion train wreck and I don't see either political party doing anything about it.
5 people like this.

Reply 2 - Posted by: hershey 10/5/2022 10:14:38 AM (No. 1295963)
Just how big are we talking? This is just for one TRILLION... One trillion is a thousand billions, or equivalently a million millions. It is a 1 with 12 zeros after it, denoted by 1,000,000,000,000. One trillion seconds is 32,000 years. One trillion pennies stacked on top of each other would make a tower about 870,000 miles high—the same distance obtained by going to the moon, back to Earth, then to the moon again.3 One trillion ants would weigh over 3,000 tons. One trillion dollars divided evenly among the U.S. population would mean that everyone in the United States would receive a little over $3,000. (courtesy thoughtco.com)
3 people like this.

Reply 3 - Posted by: slipstik 10/5/2022 10:24:41 AM (No. 1295981)
$31Trillion is a BS number. It doesn't include the Social Security liability, which is in the neighborhood of $70-100 Trillion all by itself. You can thank a nuther democrat for that, LBJ. I wouldn't be surprised if the "Rona" and "vaxx" weren't created to dial down the elderly population and massively reduce the SS liability. Social Security is an inherently losing proposition. It should be grandfathered out in favor of a tightly monitored private investment system. But then the government would have to be responsible in their spending habits, and that's obviously too much to ask.
2 people like this.

Reply 4 - Posted by: LC Chihuahua 10/5/2022 10:33:17 AM (No. 1295992)
Take a look at the debt clock. Nation debt is 31 trillion. Total US debt (debt at all levels, state, local, private, corporate, bank) is actually 92 trillion. This doesn't end well folks. Why is inflation so bad? Guessing part of the problem is we passed some debt threshold. Nobody is talking about it. Maybe they can't. How much of this debt will never be paid back? Perhaps it has something to do with Biden pushing debt forgiveness?
0 people like this.

Reply 5 - Posted by: Krause 10/5/2022 11:08:23 AM (No. 1296046)
We need to take the U.S.Treasury away from politicians.
1 person likes this.

Reply 6 - Posted by: DVC 10/5/2022 11:29:48 AM (No. 1296084)
We have been warned for decades that "eventually, people the debt will become crippling, and just making the interest payments will consume almost all of tax revenues". Having the Fed make interest rates just slightly above zero for many years made it possible to continue to pay the interest in this colossal debt load. But, as the Fed is forced to push up interest rates to try to slow down inflation, the side effect is that the interest on the federal debt will start to increase too, as various Tbills are aged out. Soon enough the fraction of the money collected by the IRS that goes right back out to pay the interest on this debt will become a big problem. At what point do these fools start borrowing the money to pay the debt on the money already borrowed? And can that happen for any length of time? Their house of cards is getting more and more unstable.
0 people like this.

Reply 7 - Posted by: Mr. Know-It-All 10/5/2022 12:07:46 PM (No. 1296128)
That is about $94,000 for each person in the U.S., legal, illegal, working, or otherwise. How in h*ll can this ever be paid back?
2 people like this.

Reply 8 - Posted by: GoodDeal 10/5/2022 12:17:07 PM (No. 1296141)
Right on track to completely crash the economic system so it can be remade in the Great Reset.
0 people like this.

Reply 9 - Posted by: DVC 10/5/2022 12:20:07 PM (No. 1296146)
Re #7, it will never be paid off. It will be defaulted on eventually.
0 people like this.

Reply 10 - Posted by: davew 10/5/2022 1:34:25 PM (No. 1296210)
I'm just wondering where all those people got the dollars they used to buy the Treasury bonds? If they got them ultimately from the Fed creating them in a computer and transferring them to bank reserves, then the government is just borrowing its own money. People are just parking dollars for a bit of interest income rather than spending them on goods and services. Why is this a big deal? As long as the Federal Reserve creates just enough dollars to pay the interest and everything else the Treasury requires without causing inflation, they can never go broke. As Douglas Adams would say, "Don't Panic".
0 people like this.

Reply 11 - Posted by: Birddog 10/5/2022 2:17:46 PM (No. 1296244)
In another headline story today...US sets NEW record in Tax collections, just as it has every quarter since Bidens election, STILL is setting new debt/deficit records every quarter as well. $4.4Trillion in taxes collected, while $5.5 trillion spent. "Sure it's a loss, but we can make up for it in volume"
0 people like this.

Reply 12 - Posted by: franq 10/6/2022 5:58:06 AM (No. 1296677)
Serious question - if enough people "...are just parking dollars for a bit of interest income rather than spending them on goods and services" with their fiat money, wouldn't that scenario eventually lead to business downturn and layoffs? Then where would all THOSE people get their dollars (essentially just coupons given in return for a good or service rendered)? Treasury just prints more and sends subsistence checks in mail?
0 people like this.

Reply 13 - Posted by: mifla 10/6/2022 6:52:55 AM (No. 1296697)
Dear Future Americans, We had a great time at your expense. Thanks! Baby Boomers
0 people like this.

Reply 14 - Posted by: Rumblehog 10/6/2022 9:37:23 AM (No. 1296817)
Don't you even think for a second that the evil Uni-Party aren't eyeing 401-k, IRA, CDs, etc. as a means to pay down the interest on the debt they've accumulated over the decades. To a Uni-Party pol, nothing is sacred, except "Tax & Spending," and Federal Pensions.
0 people like this.

Below, you will find ...
Most Recent Articles posted by "MDConservative"
and
Most Active Articles (last 48 hours)
Most Recent Articles posted by MDConservative"
Newt Gingrich - Serious Nuclear Threats in Ukraine 9 replies
Posted by MDConservative 10/6/2022 9:41:07 AM Post Reply
We may be faced with the choice of accepting a terrifying precedent: That nuclear armed powers can use nuclear weapons on their neighbors so long as they threaten to escalate the conflict and endanger European and American cities.
America’s national debt has now surpassed
$31 trillion
14 replies
Posted by MDConservative 10/5/2022 9:39:06 AM Post Reply
America’s national debt has climbed north of $31 trillion for the first time, a milestone that comes at a time of historically high inflation, rising interest rates and growing economic uncertainty. The nation’s total public debt outstanding closed at $31.1 trillion on Monday, according to Treasury Department data published Tuesday. The US government went on a borrowing spree during the Covid-19 pandemic to help shore up the nation’s economy as the deadly virus upended lives, labor markets and supply chains. Outstanding debt has climbed nearly $8 trillion since the beginning of 2020. And it has jumped by $1 trillion in just eight months.
Day 1 of the Waukesha Christmas Parade
attack trial: Defendant Darrell Brooks
Jr. repeatedly removed from courtroom
14 replies
Posted by MDConservative 10/4/2022 9:20:58 AM Post Reply
Darrel Brooks Jr. stands trial starting Monday for the Waukesha Christmas Parade attack that left six people dead and dozens injured. Brooks is facing more than 70 criminal charges...He will represent himself. Here's what happened on Day 1 of the trial, which begins with jury selection. After repeated disruptions, Waukesha County Circuit Judge Jennifer Dorow removed Brooks from the courtroom, three times in the morning and again in the afternoon Brooks was removed for a second time after Dorow told him he was continuing to be disruptive, something he had previously been warned about. In all, Dorow called six breaks in the proceedings.
How the War in Ukraine Might End 16 replies
Posted by MDConservative 10/1/2022 12:27:23 PM Post Reply
Hein Goemans grew up in Amsterdam in the nineteen-sixties and seventies, surrounded by stories and memories of the Second World War. His father was Jewish and had hidden “under the floorboards,” as he put it, during the Nazi occupation. When Goemans came to the United States to study international relations, he recalled being asked in one class about his most formative personal experience of international relations. He said that it was the Second World War. The other students objected that this wasn’t personal enough. But it was very personal for Goemans.
Big Brother watching? Government agencies
buying cell phone, internet data to track Americans
8 replies
Posted by MDConservative 9/29/2022 9:24:56 AM Post Reply
In a little noted trend, law enforcement agencies at every level of government are increasingly buying data from private, third-party data brokers on Americans' phone and internet activities in order to track them, often without a warrant. While proponents say this practice provides critical help for investigations, critics argue it poses a serious violation of civil liberties that needs to be addressed through legislation.
Michael Gableman, who produced no evidence
of 2020 election fraud in $1 million review,
now suggests the country needs revolution
14 replies
Posted by MDConservative 9/20/2022 10:16:59 AM Post Reply
Former state Supreme Court Justice Michael Gableman told a group of Republicans this month that a revolution against government officials over the 2020 election has become necessary but said people have become too comfortable to water the "tree of liberty" with blood. "For the first time in my life I am beginning to wonder if America's best days are behind us," Gableman said Sept. 9 at a dinner hosted by the Republican Party of Outagamie County
Fed's Powell pledges to combat inflation
'forcefully,' but warns of economic pain ahead
11 replies
Posted by MDConservative 8/26/2022 4:49:14 PM Post Reply
Federal Reserve Chairman Jerome Powell on Friday delivered a stark message on the state of the U.S. economy at the annual central bank gathering in Wyoming: Inflation remains painfully high, and cooling it will require forceful action that could soon bring "pain" to households and businesses nationwide. In his hotly anticipated speech at the Kansas Federal Reserve's Jackson Hole symposium, Powell reiterated a pledge to "forcefully" fight inflation that is still running near the hottest pace in 40 years and wrestle it closer to the Fed's 2% goal.
Jared Kushner: Pence vice president interview
with Trump ‘painful’
17 replies
Posted by MDConservative 8/23/2022 1:51:27 PM Post Reply
Former President Donald Trump’s son-in-law Jared Kushner played a key role in laying the groundwork for Mike Pence to be selected as the 2016 GOP vice presidential nominee, but he admits now that it had a “painful” beginning. In his new book released today, Breaking History: A White House Memoir, Kushner wrote that unlike in other campaigns, the candidate decided to lead the search for a running mate, and Trump initially settled on Pence, former House Speaker Newt Gingrich, and New Jersey Gov. Chris Christie. Kushner, who was the unofficial campaign manager, wrote that all three fit with Trump’s goal of ignoring the Washington “elite” and reaching out to blue-collar voters.
Younger Americans Identify as Independent
More than Republicans, Democrats Combined
12 replies
Posted by MDConservative 8/23/2022 1:44:59 PM Post Reply
Younger Americans are still less willing to commit to one political party, newly released polling data shows. Gallup released survey data Thursday showing that Millennials and Gen Z Americans are sticking with the “Independent” label. In fact, more of the surveyed Millennial and Gen Z Americans identify as Independent than as Republican and Democrat combined. The poll found that 52% of both Gen Z and Millennials identify as Independent.
North Carolina Supreme Court Enacts a
Full-Scale Judicial Coup
15 replies
Posted by MDConservative 8/20/2022 10:27:01 AM Post Reply
North Carolina’s Supreme Court has made one of the most insane judicial decisions in the nation’s history, and that’s absolutely not hyperbole. In what can only be described as a full-scale judicial coup, the Democrat-controlled body has ruled that the North Carolina General Assembly is illegitimate and can not enact amendments to the state’s constitution.
Post-Roe differences surface in GOP over
new abortion rules
1 reply
Posted by MDConservative 8/19/2022 10:27:54 AM Post Reply
When the U.S. Supreme Court repealed in June a woman’s constitutional right to an abortion, Wisconsin’s 1849 law that bans the procedure except when a mother’s life is at risk became newly relevant. Republicans in the Legislature blocked an attempt by Democratic Gov. Tony Evers to overturn the law. Yet there’s disagreement inside the GOP over how to move forward when they return to the state Capitol in January. The state’s powerful Republican Assembly speaker, Robin Vos, supports reinforcing the exception for a mother’s life and adding protections for instances involving rape and incest.
Senate G.O.P. Campaign Arm Slashes TV
Ad Buys in Three States
15 replies
Posted by MDConservative 8/15/2022 8:00:59 PM Post Reply
The Republicans’ Senate campaign committee has slashed its television ad reservations in three critical battleground states for the fall, a likely sign of financial troubles headed into the peak of the 2022 midterm election season. The National Republican Senatorial Committee has cut more than $5 million in Pennsylvania, including its reservations in the Philadelphia media market, according to two media-tracking sources. Reservations in Wisconsin, in the Madison and Green Bay markets, have also been curtailed, by more than $2 million.
Most Active Articles (last 48 hours)
Former President George W. Bush to campaign
for anti-Trump Republican Senate candidate
34 replies
Posted by Imright 10/6/2022 10:49:27 AM Post Reply
Former President George W. Bush will hit the campaign trail to stump for Colorado senatorial hopeful Joe O’Dea who has come out against another former president, Donald J. Trump, and has gone on record as saying he would not support him for the 2024 GOP nomination. According to a report from NBC News, the nation’s 43rd president will appear at a fundraiser for O’Dea this month as the Rocky Mountain state Republican seeks to unseat Democrat incumbent Michael Bennet in next month’s election. NBC’s Bridget Bowman served up the scoop that “Former President George W. Bush is making a rare appearance on the campaign trail, participating in a fundraiser
Video: Biden Made His Signature “Predator”
Move After Governor DeSantis Started Speaking
To The Crowd – Dr. Jill, His Handler
Couldn’t Stop Him
26 replies
Posted by Black Conservative Voice 10/6/2022 7:47:26 AM Post Reply
It’s just kindly old grandpa Joe who loves you and doesn’t have mean tweets and oh wait he’s an egomaniac who thinks he’s your god-king. A hot mic caught Joe Biden on Wednesday telling Fort Myers Beach mayor Ray Murphy the same thing he probably said to CornPop 60 years ago. He did a lot of things during his Florida visit! But perhaps the Biden comment that sparked the most response was this one where he is talking to Fort Myers Beach Mayor Ray Murphy.
Exclusive: Wisconsin Democrat Gov. Tony
Evers’ Dept. of Public Instruction Told
White People to Wear Wristbands as ‘Reminder
of Your Privilege’
25 replies
Posted by ladydawgfan 10/6/2022 1:39:54 PM Post Reply
White people were told to engage in a racial shaming exercise to remind them of their privilege by Wisconsin Democrat Governor Tony Evers’ Department of Public Instruction (DPI) when he was its superintendent. A document promoted by the Department of Public Instruction, obtained exclusively by Breitbart News, suggested white people “wear a white wristband as a reminder about your privilege.” Democrat Governor Tony Evers, who is up for reelection, was the Superintendent of the Department of Public Instruction from 2009 to 2019. During his time as Superintendent, the department worked alongside Volunteers in Service to America (VISTA).
Planned Parenthood Announces Mobile Abortion
Unit, Will Patrol Illinois Borders Seeking
Babies To Kill from Neighboring States
22 replies
Posted by hershey 10/6/2022 9:43:42 AM Post Reply
Since the Supreme Court’s reversal of Roe v. Wade, Illinois has become an oasis to prevent future women, people of color, LGBTQIA?’s and all of God’s other children from entering this world, but why stop there? In an effort to combat states whose laws seek to protect innocent unborn lives, Planned Parenthood, America’s top baby slaughtering outfit is going mobile. On Monday Planned Parenthood announced a new effort to make baby killing even easier for those from neighboring states where abortion has rightfully become illegal, in their brand new retrofitted 37 foot RV.
Doctor Surprised as Patient Refuses to
Receive Blood Transfusion if Donor had
been Vaccinated Against COVID-19
20 replies
Posted by ladydawgfan 10/6/2022 1:57:24 AM Post Reply
On Sunday, Dr. Stephanie Cooper shared on her Twitter followers that she was surprised when one of her patients declined to receive a blood transfusion if the donor had been vaccinated against COVID-19. Dr. Stephanie Cooper is a Calgary-trained Obstetrician-Gynecologist and Maternal-Fetal Medicine specialist with Alberta Health Services. “So- this was a first for me. A patient declined blood transfusion if the donor had received a covid vaccination,” she wrote. Another doctor replied and expressed the same sentiment, “Sadly, we’ve had a couple of patients here with the same beliefs.” [Tweet]
Coming soon: Polygamy 19 replies
Posted by Hazymac 10/6/2022 6:49:09 AM Post Reply
You could see this one coming a mile away, and many of us did. When the Supreme Court declared that there is no rational reason to deny the right of two people of the same sex to marry–love is love!–it eliminated the teleological foundation of marriage and the family. If marriage is no longer grounded in the biology of reproduction–it takes two, a man and a woman, to make a child–then the number two is likewise irrational. If George and Ken can be in love, and therefore entitled to marry, then why can’t George, Ken and Susan? The inevitable has happened, as a court in New York
US Buys $290 Million Worth of Drugs in
Preparation for Nuclear Emergencies
18 replies
Posted by earlybird 10/6/2022 3:36:55 PM Post Reply
The U.S. Department of Health and Human Services (HHS) is buying $290 million worth of drugs as part of its “long-standing, ongoing efforts to be better prepared to save lives following radiological and nuclear emergencies.” HHS is purchasing a supply of the drug Nplate from Amgen USA, a biotechnology headquartered in Thousand Oaks, California. The $290 million purchase was announced on Oct. 4 by the Administration for Strategic Preparedness and Response (ASPR), an agency within the HHS that’s tasked with preparing the nation for future disasters and public health emergencies. Nplate is the trade name of romiplostim, which was approved by the U.S. Food and Drug Administration (FDA) in January 2021 to treat
PayPal Updates User Policy to IncludePossible
$2,500 Fine ForSpeech It Doesn’t Like
18 replies
Posted by NHChemist 10/6/2022 9:45:05 AM Post Reply
It’s no big secret that Big Tech’s tentacles have a vast reach, with platforms like Facebook and Twitter admitting in so many words after the fact to deliberately suppressing news content prior to the 2020 presidential election that portrayed then-Democratic nominee for president Joe Biden and his international wheelin’ and dealin’ son Hunter in a less than flattering light being one of the more notable examples. But as has already been made clear by online payment systems like PayPal and Venmo, even more silencing of alternative points of view is needed in the form of financial strangulation
Goodbye, Fort Hood: Austin approves plan
to nix Confederate names from U.S. military bases
17 replies
Posted by Imright 10/6/2022 9:37:58 PM Post Reply
Secretary of Defense Lloyd Austin on Thursday signed off on a plan to strip any mention of the Confederacy from U.S. military bases, including renaming the Army’s legendary Fort Bragg and Fort Hood, signing off on a process that critics said was a prime example of “woke” attitudes in President Biden’s Pentagon. Mr. Austin, whose endorsement of the plan was widely expected, said the changes would be implemented “as soon as possible.” The report that recommends the stripping of all references to Confederate figures arrived at Mr. Austin’s desk 18 months after Congress mandated a Naming Commission to review the issue.
FBI tracked Aretha Franklin for 40 years,
declassified documents show
16 replies
Posted by Black Conservative Voice 10/6/2022 6:53:44 AM Post Reply
Aretha Franklin was tracked by the FBI for 40 years as the agency repeatedly sought — but ultimately failed — to tie the Queen of Soul to “extremists” and “radicals,” newly declassified documents reveal. The 270-page FBI file — obtained by Rolling Stone magazine — details how the feds spied on the “Respect” songstress through “false phone calls, surveillance, infiltration and highly-placed sources” from 1967 to 2007.
Investigators Believe They Have Enough
Evidence to Charge Hunter Biden with Tax,
Gun Crimes: Report
15 replies
Posted by Dreadnought 10/6/2022 3:11:22 PM Post Reply
Federal investigators believe they have gathered enough evidence to charge President Joe Biden’s son Hunter “with tax crimes and a false statement related to a gun purchase,” according to a bombshell new report from the Washington Post. Federal investigators associated with the FBI and IRS determined months ago that they had sufficient evidence to indict the younger Biden but it is now up to the U.S. attorney in Delaware, who was appointed by former president Trump, to determine whether to charge him. Chris Clark, a lawyer for Hunter Biden, responded to an inquiry from the Post with a written statement accusing investigators of misconduct.
DOJ Charges 11 Pro-Life Activists for
2021 Sit-In at Abortion Clinic — FBI
Descends on Defendant’s Home ‘with
Guns Drawn’
15 replies
Posted by Imright 10/6/2022 11:59:28 AM Post Reply
The Department of Justice (DOJ) has reportedly charged 11 pro-life advocates with federal charges related to a 2021 protest at a Tennessee abortion clinic. In a press release announcing the charges on Wednesday, the Department of Justice said that the 11 individuals violated the Freedom of Access to Clinic Entrances (FACE) Act during a 2021 protest in which they “engaged in a conspiracy to prevent” a Nashville-area abortion clinic “from providing, and patients from receiving, reproductive health services.” Their names: Chester Gallagher, Heather Idoni, Calvin Zastrow, Coleman Boyd, Caroline Davis, Paul Vaughn, Dennis Green, Eva Edl, Eva Zastrow, James Zastrow, and Paul Place.
Post New Article