[MERGED] Nothing to lose sleep over... just a few dollars, no biggie

[Bill]

Originally Posted by Frankie the Fink

So we are giving handouts out like crazy, over 47% of the country doesn't pay taxes ( a figure from two years ago ), we are fighting wars on two fronts, subsidizing technology with questionable feedback, electron cars, windmills, feeding and housing 250,000/month of foreigners that are largely non-producers and the liberals brag about the GDO.

The IMPORTANT number are the GDP-to-debt ration - the highest since WW-II and we don't have the industrial base any longer to slog our way out of the deficit like we did then. But hey - they have their Netflix, smart phones and pink hair so "What Me Worry?"

They pay tax on their cigarettes, alcohol, and, in certain states, on their marijuana purchases!

[Dan47]

Originally Posted by Onebadcad

99% of Americans CANNOT explain national debt, annual deficits, deficit spending, unfunded liabilities, underfunded liabilities, bond yields, sale of bonds, US debt investors, etc...

Basically the country is full of idiots that do not understand the true AND CERTAIN outlook of our financial future, as most will never be contributors.

No time for economics in public education but also, many wealth transfers (thefts) are beneficial to “contributors” that have convinced themselves, “they deserve it.”

[Dan47]

Originally Posted by bill_daniels

They pay tax on their cigarettes, alcohol, and, in certain states, on their marijuana purchases!

And inflation is a tax. The whole financial system morphed into a grift. Started long before anyone here was born but not hard to see, when honestly looked at.

Nobody wants to change the rules, when they’re winning the game, (including me ) but our system is unsustainable. S.S., Govt pensions, Medicare, etc., etc., etc… Those are promises made whole by robbing the next generation, not productive investments or “savings”. Nearly 34 trillion in public debt that can’t be blamed on the koolaid haired generation, alone.

Really looks like SHTF now but I thought the same back in 2008 when the housing market collapsed. No telling how bad things are going to get before we hit bottom but it will take many generations to fix, if it’s possible at all.

[Jughead]

We're ****ed

[Raazor]

https://finance.yahoo.com/news/moody...215110947.html

Immediately after the Moody's release, White House spokesperson Karine Jean-Pierre said the change was "yet another consequence of congressional Republican extremism and dysfunction."

[Swany00]

and it just keeps getting better

[VITE1]

We keep digging the hole deeper.

http://www.polidiotic.com/by-the-num...ficit-by-year/

[dvarapala]

Originally Posted by TheRealBadger

More than 25% of all of the debt was created under Trump.

The current debt is around $33T. Trump's share is around $6.7T of that.

Obama blew $7.6T in 2 terms, and Biden is on track to surpass them all before he dodders off the political stage.

https://www.investopedia.com/us-debt...entage-7371225

[The_Dude]

Annualized federal debt interest cost surpasses $1T, Bloomberg analysis reveals

[Onebadcad]

^^^
Very Most Excellent Thread Material!!
THE DUDE nails it, AGAIN!!

[Onebadcad]

https://www.investopedia.com/us-nati...y-year-7499291


End of Fiscal Year Debt (in Billions, Rounded) Major Events by Presidential Term
1929 $17 Market crash
1930 $16 Smoot-Hawley Tariff Act reduced trade
1931 $17 Dust Bowl drought raged
1932 $20 Hoover raised taxes
1933 $23 New Deal increased GDP and debt
1934 $27
1935 $29 Social Security
1936 $34 Tax hikes renewed Great Depression
1937 $36 Third New Deal
1938 $37 Dust Bowl ended
1939 $40 Depression ended
1940 $43 FDR increased spending and raised taxes
1941 $49 U.S. entered World War II
1942 $72 Defense tripled
1943 $137
1944 $201 Bretton Woods Agreement
1945 $259 World War II ended
1946 $269 Truman’s first-term budgets and recession
1947 $258 Cold War
1948 $252 Recession
1949 $253 Recession
1950 $257 Korean War boosted growth and debt
1951 $255
1952 $259
1953 $266 Recession when war ended
1954 $271 Eisenhower’s budgets and recession
1955 $274
1956 $273
1957 $271 Recession
1958 $276 Eisenhower’s 2nd term and recession
1959 $285 Fed raised rates
1960 $286 Recession
1961 $289 Bay of Pigs
1962 $298 JFK budgets and Cuban Missile Crisis
1963 $306 U.S. aids Vietnam; JFK killed
1964 $312 LBJ’s budgets and war on poverty
1965 $317 U.S. entered Vietnam War
1966 $320
1967 $326
1968 $348
1969 $354 Nixon took office
1970 $371 Recession
1971 $398 Wage-price controls
1972 $427 Stagflation
1973 $458 Nixon ended gold standard; OPEC oil embargo
1974 $475 Watergate; Nixon resigns; budget process created
1975 $533 Vietnam War ended
1976 $620 Stagflation
1977 $699 Stagflation
1978 $772 Carter budgets and recession
1979 $827
1980 $908 Fed Chairman Volcker raised fed rate to 20%
1981 $998 Reagan tax cut
1982 $1,142 Reagan increased spending
1983 $1,377 Jobless rate 10.8%
1984 $1,572 Increased defense spending
1985 $1,823
1986 $2,125 Reagan lowered taxes
1987 $2,350 Market crash
1988 $2,602 Fed raised rates
1989 $2,857 S&L Crisis
1990 $3,233 First Iraq War
1991 $3,665 Recession
1992 $4,065
1993 $4,411 Omnibus Budget Reconciliation Act
1994 $4,693 Clinton budgets
1995 $4,974
1996 $5,225 Welfare reform
1997 $5,413
1998 $5,526 Long-Term Capital Management crisis; recession
1999 $5,656 Glass-Steagall Act repealed
2000 $5,674 Budget surplus
2001 $5,807 9/11 attacks; Economic Growth and Tax Relief Reconciliation Act
2002 $6,228 War on Terror
2003 $6,783 Jobs and Growth Tax Relief Reconciliation Act; second Iraq War
2004 $7,379 Second Iraq War
2005 $7,933 Bankruptcy Act; Hurricane Katrina
2006 $8,507 Bernanke chaired Fed
2007 $9,008 Banks crisis
2008 $10,025 Bank bailouts; quantitative easing (QE)
2009 $11,910 Bailout cost $250 billion; American Recovery and Reinvestment Act (ARRA) added $242 billion
2010 $13,562 ARRA added $400B; payroll tax holiday ended; Obama tax cuts; Affordable Care Act; Simpson-Bowles debt reduction plan
2011 $14,790 Debt crisis, recession, and tax cuts reduced revenue
2012 $16,066 Fiscal cliff
2013 $16,738 Sequester; government shutdown
2014 $17,824 QE ended; debt ceiling crisis
2015 $18,151 Oil prices fell
2016 $19,573 Brexit
2017 $20,245 Congress raised the debt ceiling
2018 $21,516 Trump tax cuts
2019 $22,719 Trade wars
2020 $26,945 COVID-19 and recession
2021 $28,428 COVID-19 and American Rescue Plan Act
2022 $30,928 Inflation Reduction Act

[Louie Detroit]

Badger might like this thought regarding his love for boomers. The best thing about debt is when you die, you beat it.

[Onebadcad]

All that debt has to be paid by those who never benefitted from it.

[Onebadcad]

Should be made into a horror movie, I think 40+% by 2050:

[Onebadcad]

For 60% of those who occupy here, the repayment will not include them.
Thus, this is but a figment, nothing to be concerned with.

[Onebadcad]

While some will stay slowing inflation, which will NEVER happen, is the key to driving down the cost of borrowing, the REAL ISSUE is servicing our National Debt.

The ever-increasing debt payments AND the ever-increasing annual deficits AND the ever-increasing national debt, will not allow many to EVER own a home.

There are MUFUGE ramifications for failing to curb gov spending, japan is the very best example, read up on it so you know what will happen here in future years.

[Big bob]

Originally Posted by Onebadcad

All that debt has to be paid by those who never benefitted from it.

I don't know anyone that saw any benifit from it.

[Onebadcad]

[Jughead]

Trillion is the new billion.

[dvarapala]

Originally Posted by Onebadcad

All that debt has to be paid by those who never benefitted from it.

Unless it is forgiven or inflated out of existence.