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Topic Title: Debt Hits $21 Trillion
Topic Summary: +1 Trillion in last 6 months
Created On: 03/17/2018 09:41 AM
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 03/17/2018 09:41 AM
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follydude

Posts: 9711
Joined Forum: 07/25/2003

Quick call the Tea Party!

National debt hits $21 trillion

https://www.washingtonexaminer...-debt-hits-21-trillion

The national debt exceeded $21 trillion for the first time on Thursday, a little more than six months after it hit first $20 trillion on Sept. 8.

The national debt was $21.031 trillion on Thursday. The government releases total debt figures each business day, but it lags by one day.

Federal borrowing has been on the rise again since February, when Congress passed legislation to suspend the debt ceiling. That move allowed the government to borrow as much as it needs to fund the activities approved by Congress.

Under the law passed in February, the government will not face any borrowing limit until March 1, 2019. At its current pace, the government is on track to add at least $1 trillion to the national debt by then.

For example, the debt grew by more than half a trillion dollars in the six weeks since the debt ceiling was lifted on Feb. 9.

A large part of the national debt reflects the federal budget deficit, or the amount of spending above the revenues collected by the government. But the debt is rising faster than the amount of the budget deficit, as it also reflects things like federal lending for student loans and mortgage programs.

Peter G. Peterson Foundation President Michael Peterson said the milemarker is just the beginning, as Congress has just agreed to spend even more.

"Our national debt reached a staggering $21 trillion today, having grown by $1 trillion in just the past six months," he said. "Worse yet, this unfortunate milestone has only just begun to include the effects of the recent fiscally irresponsible tax and spending legislation, which added more debt on top of an already unsustainable trajectory."
 03/17/2018 02:05 PM
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theglide

Posts: 9422
Joined Forum: 08/06/2003

When in power, the GOP rarely cares about the national debt.

When out of power, it's their #1 priority.
 03/17/2018 05:09 PM
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Cole

Posts: 68180
Joined Forum: 07/22/2003

Crickets.

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I was right.
 03/17/2018 05:21 PM
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RegularJoe

Posts: 3679
Joined Forum: 11/20/2011

Do the Dems in Congress, or anyone in Congress for that matter, care anymore?
I would guess Rand Paul, but few others.

Edited: 03/18/2018 at 03:15 PM by RegularJoe
 03/17/2018 05:34 PM
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Cole

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All Democrats voted against the tax giveaway.

Tax revenue was cut by 40%, what did Trump supporters think would happen?.

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I was right.
 03/17/2018 05:40 PM
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RegularJoe

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Would Dems support a balanced budget amendment now?
 03/17/2018 05:44 PM
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surferclimber

Posts: 1356
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Originally posted by: RegularJoe Does the Dems in Congress, or anyone in Congress for that matter, care anymore? I would guess Rand Paul, but few others.

 

I don't think it's that they don't care rather they just don't see a solution + nobody's going vote for someone who says "Yeah we've gotta fix this and to do so we're gonna have to simultaneously raise your taxes & cut all sorts of benefits."

 

Rand Paul is the only one bringing any noise to it - he took a bold step forcing shutdown last go around- but nobody wants to validate. It seems like he gets the same kind of treatment that Churchill did in the 1930s when warning about Hitler... everyone said your crazy old chap but ughh not so much! The current times are very much parralels to then just replace threat of regular war with threat of financial war. I would not be surprised to see our debt become the downfall of the American empire and our way of life as we know it!!! But, I have faith in our country & people that somehow someway we will find a way...



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get up early and go surf - it'll make that hangover go away and/or make the workday more tolerable :)

 03/17/2018 05:56 PM
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theglide

Posts: 9422
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I'll say this about Rand, he is consistent and not hypocritical about our national debt issue.
 03/18/2018 10:48 AM
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Cole

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Wait, you people voted for a guy that said he was going to slash taxes. He did what he said he was going to do. It's a tad late for concern, isn't it?

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I was right.
 03/18/2018 11:53 AM
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onegoodturn

Posts: 206
Joined Forum: 10/27/2013

bring on the apocalypse, let's see what all you latte sippin, prius drivin libs are made of.

 03/18/2018 01:28 PM
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fishkller

Posts: 20566
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^^^^ wishes he could afford a Prius ..or a latte for that matter. LOL



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 03/18/2018 01:35 PM
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nukeh2o

Posts: 8898
Joined Forum: 03/18/2016

Tucker girlson sure is cute, huh, oneweakturd? Did he get your flowers and love note?
Back to the subject: highest budget deficit in us history.....more to come.

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It's a democratic hoax
 03/18/2018 03:22 PM
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RegularJoe

Posts: 3679
Joined Forum: 11/20/2011

Originally posted by: surferclimber
nobody's going vote for someone who says "Yeah we've gotta fix this and to do so we're gonna have to simultaneously raise your taxes & cut all sorts of benefits."


I voted for a presidential candidate (Gary Johnson) who said that; got ridiculed here and accused of voting for Trump.

Originally posted by: Cole
All Democrats voted against the tax giveaway.


That was a no-brainer. But when is the last time they vote against deficit spending on general principle? Not solely because a Repub proposed it or because it was part of other "important" legislation?

Originally posted by: RegularJoe

Would Dems support a balanced budget amendment now?


More crickets!
 03/18/2018 04:16 PM
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3rdworldlover

Posts: 22496
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This time, the tax cuts are going to make the economy so strong that it will pay for the previous 35 years of tax cuts that never grew the economy.
 03/18/2018 07:44 PM
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Cole

Posts: 68180
Joined Forum: 07/22/2003

The US doesn't require a balanced budget, that's a myth.

Though $1 trillion in six months might be a bit much.

And what idiot wants this country to self destruct? Yes, catcharail, I'm referring to you.

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I was right.
 03/18/2018 08:04 PM
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Fish Killer

Posts: 71439
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Originally posted by: Cole
And what idiot wants this country to self destruct?


You do!

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The REAL truth is....both of the forum idiots are OWNED.
-BOTH of them have no clue who their owner is.
-They are both card carrying narcissists.
^These are PROVED facts.
 03/19/2018 05:30 AM
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onegoodturn

Posts: 206
Joined Forum: 10/27/2013

lol

 

 03/19/2018 06:33 AM
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somebodyelse

Posts: 6770
Joined Forum: 06/29/2006

The US doesn't require a balanced budget, that's a myth.

Though $1 trillion in six months might be a bit much.

 

IF... If the 'Debt' is 20 Trillion...

AND then they pass a budget that adds $1 trillion to that debt....

THEN the $1 Trillion increase happened over night, not in 6 months...

Your handlers have given you a narrative of a 6 month increase because they know you will repeat it in shock without ever thinking of the reality of what happens.

Obama took 8 years to double the debt and now Trump has added a TRILLION dollars in the last 6 months!!! OMG!!! The sky is falling....

NO, they passed a budget, it added a Trillion dollars, It happened over night.

BUT when it is explained like that, everybody says oh yeah, the budget got passed.

When they say the debt rose $1 Trillion dollars in just 6 months, The goats start bleating and the ill informed electorate, you, do exactly what your handlers knew you would do...



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 03/19/2018 07:28 AM
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jdbman

Posts: 12159
Joined Forum: 07/28/2003

There is no way and no need for a balanced Federal Budget. However creating more of a deficit now , while interest rates are rising is economic suicide.

Its a matter of how much revenue is coming in and out and what are the future obligations. What is the cost of the debt service.

Of course the real problem is that Repugs are lying pandering pos. Bitch and moan about the deficit, then when in the majority spend like drunken sailors in a Costa Rican whorehouse.

Never ever let a repug touch your money. If you are making any substantial purchase from someone, you better ask if they are repug. If so run like hell. More than ever vote the pin heads out.

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So if you are a surfer I wish you the prosperity that allows you more time to pursue the salt water dream, and the true happiness that comes from warm water, clean waves and the companionship of your fellow surfers. If you are an internet troll just spewing bs then f off.
 03/21/2018 04:21 AM
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Cole

Posts: 68180
Joined Forum: 07/22/2003

Originally posted by: somebodyelse

The US doesn't require a balanced budget, that's a myth.

Though $1 trillion in six months might be a bit much.




 




IF... If the 'Debt' is 20 Trillion...




AND then they pass a budget that adds $1 trillion to that debt....




THEN the $1 Trillion increase happened over night, not in 6 months...




Your handlers have given you a narrative of a 6 month increase because they know you will repeat it in shock without ever thinking of the reality of what happens.




Obama took 8 years to double the debt and now Trump has added a TRILLION dollars in the last 6 months!!! OMG!!! The sky is falling....




NO, they passed a budget, it added a Trillion dollars, It happened over night.




BUT when it is explained like that, everybody says oh yeah, the budget got passed.




When they say the debt rose $1 Trillion dollars in just 6 months, The goats start bleating and the ill informed electorate, you, do exactly what your handlers knew you would do...



Um, what?

The bill hasn't even been signed yet.

http://www.cnn.com/2018/03/20/...te-of-play/index.html

And I hope the cost will be offset by some type of tax income.



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I was right.
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