National Debt

[Onebadcad]

Good graphs

[Onebadcad]

USA debt as a percentage of GDP.
Japan has been in 'austerity mode' since the 1990s, Debt was 100% of GDP, they may never recover.

[Bruze]

Originally Posted by Yadkin

Every failed nation has done that.

And a common feature among many of them was fighting “endless foreign wars.”

Hmm . . . ?

[Onebadcad]

Originally Posted by Egnalf

its not real debt, and printing lots of dollars makes it easier to pay down.

Good humor, but SADLY true.

The most important, and usually the first, strategy for socialist rule is to destroy the economy, as it makes MOST people HIGHLY dependent on the gov for the basic needs, such as food and shelter.

This is the template used by all in history that pursued a one-party system.

This strategy is never straightforward, code phrases are used:

1) the 'rich' have stolen from you
2) the 'rich' do not pay enough
3) you deserve more from the 'rich'
4) the gov can best control business
5) big business is corrupt
6) only the gov can fix things
7) industries need to be nationalized
8) you cannot trust 'the man'
9) all people should be equal in all things

Inevitably the stupids outnumber the hard workers.
This leads to to totalitarianism, the opposition is prosecuted by illegitimate courts, then jailed and killed with bogus non-laws, the rulling party has no rules to govern themselves, voting is a farce, the media is grossly bias, the rallying cry is that we are on your side, not on the side of all.

^^^sound familiar

[VITE1]

Originally Posted by Bruze

And a common feature among many of them was fighting “endless foreign wars.”

Hmm . . . ?

Rome had to grow by military expansion to prop up their welfare State.

The had debased their currency massively over the centuries. Unlike us who have done it over 50 years.

[Bruze]

Originally Posted by VITE1

Rome had to grow by military expansion to prop up their welfare State.

The had debased their currency massively over the centuries. Unlike us who have done it over 50 years.

I've read, years ago, that they debased their hard currency the following way: When people went to a public gathering, there would be a gov't employee of some sort at a gate, who would clip a bit of everyone's coin off. Those bits of gold went to the emperor.

It was inflationary, because the public's coins would no longer buy what they used to buy; I assume a customer's coins were weighed by merchants who needed to know, and the amount of goods sold were adjusted accordingly. The government was stealing from the people. Hmm . . . ? That has a familiar ring to it.

This was the reason we have vertical serrations on coins, so if someone files a bit off it would be noticeable. Of course that only mattered when our coins were still silver and gold.

[Kevin68]

Originally Posted by Frankie the Fink

But, but, but Zelinskyy needs more money and those poor students need their loans bailed out, then there are all those illegals that need clothed, housed and fed...

Have to have your priorities straight </sarcasm>

While these are legitimate gripes, and if completely unfunded, represent only a few percent, at most, of the debt. Large cuts to discretionary/military spending do no more than exorbitant taxes on the the rich and/or wealth.

Pareto Principle needs to be applied to the debt/deficit spending.

The real problem
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.
.
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Originally Posted by Onebadcad

And then there are always those Unfunded Liabilities, mostly SSA and Medicare, which every administration has kicked down the road.
Current estimate is $80T.

https://www.cato.org/blog/medicare-s...ial%20Security.

[VITE1]

Originally Posted by Bruze

I've read, years ago, that they debased their hard currency the following way: When people went to a public gathering, there would be a gov't employee of some sort at a gate, who would clip a bit of everyone's coin off. Those bits of gold went to the emperor.

It was inflationary, because the public's coins would no longer buy what they used to buy; I assume a customer's coins were weighed by merchants who needed to know, and the amount of goods sold were adjusted accordingly. The government was stealing from the people. Hmm . . . ? That has a familiar ring to it.

This was the reason we have vertical serrations on coins, so if someone files a bit off it would be noticeable. Of course that only mattered when our coins were still silver and gold.

Their silver coins, over time, went from being 99% to less than 10%.

This was the coin used in their global economy and it did damage to all civilizations that used it .

[The_Dude]

The government debt crisis that we have been warned about for decades is happening right now

[Onebadcad]

From above article:

So who is going to buy our debt in 2024 and beyond?

That is a very good question.

NO ONE, as the return does not justify the risk.
The only hope left for meeting debt service obligations is nationalism, which is US citizens buying it to save the country.
Problem here is libturds have no money to help, and conservatives will not do as the tax dollars go mostly to those who will never, ever contribute.

We are ****ED, but we knew this around 2000.

[StudleyJames]

Originally Posted by Onebadcad

DEBT BY STATE:

https://wisevoter.com/state-rankings/debt-by-state/


21 Wisconsin 49 billion

Hey, our idiot govenor Evers says we are currently running a surplus

[Onebadcad]

Originally Posted by StudleyJames

Hey, our idiot govenor Evers says we are currently running a surplus

99% of pols do not fully understand debt, never address its ramifications, and lie about it to the idiots.

It should be noted that states and counties and cities have ENORMOUS DEBT!!

The leaders in state debt:
CA $587B
NY $406B
TX $390B
IL $156B
FL $140B

Here is a graph of highest debt states per capita, it is obvious that blue states have the worst finances:

https://www.statista.com/statistics/...ding-by-state/

Here is an article for cities with the most debt, again, another trend:

https://financebuzz.com/us-city-gove...n%20Accounting.

[Onebadcad]

Originally Posted by StudleyJames

Hey, our idiot govenor Evers says we are currently running a surplus

Any polk can manipulate financial statements, in the same way a good CPA can show your business losing money, or making money, at your request.
Common tools are rate of depreciation, timing of payments, time recognition of debts, revenue anticipation acceleration, and many others.

While it may be boastful to state the most recent fiscal year was completed without a deficit, the bigger issue is the total current liabilites that are not paid.

InWI the current debt is $52B, which per capita is $8,700.
Keep in mind that this debt DOES NOT include:

1) County Debt
2) City Debt
3) Special Tax District Debt
4) School Districts Debt

One you start peeling the onion, you are going to cry,,,

[StudleyJames]

Originally Posted by Onebadcad

Any polk can manipulate financial statements, in the same way a good CPA can show your business losing money, or making money, at your request.
Common tools are rate of depreciation, timing of payments, time recognition of debts, revenue anticipation acceleration, and many others.

While it may be boastful to state the most recent fiscal year was completed without a deficit, the bigger issue is the total current liabilites that are not paid.

InWI the current debt is $52B, which per capita is $8,700.
Keep in mind that this debt DOES NOT include:

1) County Debt
2) City Debt
3) Special Tax District Debt
4) School Districts Debt

One you start peeling the onion, you are going to cry,,,

but that is not stopping Evers and the WI legislators who are fighting each other over how to spend the so called "surplus"

[Frankie the Fink]

And the liberals gush over the GDP, the dolts are too dumb to realize the real significant numbers are the GDP-to-debt ratio. We are barely off the highest number since WW-II when, unlike now, we had an industrial base to bail ourselves out. We are well and truly cornholed for the long term..

[Dan47]

Originally Posted by Frankie the Fink

And the liberals gush over the GDP, the dolts are too dumb to realize the real significant numbers are the GDP-to-debt ratio. We are barely off the highest number since WW-II when, unlike now, we had an industrial base to bail ourselves out. We are well and truly cornholed for the long term..

And GDP includes government spending, plus spending more because of inflation also increases gdp. It's not a particularly good means of measuring real growth.

[VITE1]

Originally Posted by Onebadcad

99% of pols do not fully understand debt, never address its ramifications, and lie about it to the idiots.

It should be noted that states and counties and cities have ENORMOUS DEBT!!

The leaders in state debt:
CA $587B
NY $406B
TX $390B
IL $156B
FL $140B

Here is a graph of highest debt states per capita, it is obvious that blue states have the worst finances:

https://www.statista.com/statistics/...ding-by-state/

Here is an article for cities with the most debt, again, another trend:

https://financebuzz.com/us-city-gove...n%20Accounting.

Florida has been paying down its debt over the past 5 years and has one of the lowest per capita rates in America. Add in the increase in revenue on top of spending reductions and we are looking good.

https://www.statista.com/statistics/...ding-by-state/

[69camfrk]

Originally Posted by Yadkin

Every failed nation has done that.

And we are on the short list. IE:Weimar Republic among others.....It will lead to nothing good.

[VITE1]

Originally Posted by Yadkin

Every failed nation has done that.

Rome debased their currency so much it led to their downfall. No one pays attention to history until it bites them in the ass.

[Dan47]

We could still be many years, even decades away from the dollar losing its reserve status…. Or tomorrow could bring it with a big enough crisis.

I just pray I get one Social Security entitlement payment and get to bill it directly to Badger’s checking account, before the end.

Just one, dear Lord.