The United States is $222 trillion in debt

Discussion in 'Political Opinions & Beliefs' started by ProgressivePower, Aug 30, 2019.

  1. Socratica

    Socratica Well-Known Member

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    That mostly a question for a different issue.
     
  2. Moonglow

    Moonglow Well-Known Member

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    Why yes vote fer Trump he doesn't blow money in his budget...He's such a tightwad...Not,,,, but go ahead and just blame the Dems I do enjoy a good laugh..
     
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  3. vman12

    vman12 Well-Known Member Past Donor

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    Quick, lets bring in two million more people a year that are completely broke.
     
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  4. Moonglow

    Moonglow Well-Known Member

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    And the Repubs are still piling on debt, but you fergets that...
     
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  5. vman12

    vman12 Well-Known Member Past Donor

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    GWB didn't hand Obama anything.

    Leftists demanding the government absolve people of their debts and loan them money they couldn't pay back did.

    You know, like they're advocating with "free" college and healthcare for illegals.
     
  6. ProgressivePower

    ProgressivePower Active Member

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    This has everything to do with fiscal standing. I just showed you how MMT fails miserably. It will result in literally bankrupting this nation. Also, just to be clear, everything I posted, is from a very smart guy, who goes by the alias of Austro Punk. And before you get started on 'oh austrian economics is bs', just note that he isn't a typical Austrian. He embraces mainstream economics, and disregards the parts of Austrian economics which he believes as wrong. He wrote a whole blog post about this. https://austropunkism.wordpress.com...mainstream-economists-use-misesian-arguments/
     
    Last edited: Aug 30, 2019
  7. Moonglow

    Moonglow Well-Known Member

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    There already is free college in parts of the US and healthcare for illegals or anyone, it can't be denied..That was a law passed in the 1980's.
     
  8. vman12

    vman12 Well-Known Member Past Donor

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    Sure it can.

    They can't get it if they can't get to it.

    And no, there is no such thing as free college.
     
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  9. Socratica

    Socratica Well-Known Member

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    A nation that controls its currency can never become bankrupt. It's unclear if you understand what bankruptcy entails.
     
  10. ProgressivePower

    ProgressivePower Active Member

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    I just explained to you how it can. And you disregarded it.
     
  11. Socratica

    Socratica Well-Known Member

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    I didn't disregard it; it's just wrong. Bankruptcy would imply that an entity is unwilling or unable of paying its obligations.

    That can never happen when a nation has control over its currency.
     
  12. doombug

    doombug Well-Known Member

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    Let me know when they double it.
     
  13. ProgressivePower

    ProgressivePower Active Member

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    Theoretically this is true, but when governments print money, and real resources go wasted, not only will there be hyperinflation, which totally destroys the production structure, unfunded liabilities will still remain.
     
  14. FatBack

    FatBack Well-Known Member

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    Do you think they are all serious about "FREE" health care for ALL illegals? Democrat voters I spoke to say "oh, they are just talking" but those same people will vote for them and then turn around and say "Trump said he was going to do this _ _ _ _ and then say 'see, all talk'

    So do you actually expect them to 'give' "free" health care to millions of illegals? Where the hell will the $ come from? Have any clue at the annual cost? Yet you will likely vote for them, anyways, wont you?
     
  15. Durandal

    Durandal Well-Known Member Donor

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    Who cares? Why are we $222 trillion in debt now when we aren't giving "free health care" to illegals? Why is Trump ramping up the deficit after promising to do the opposite? He had two years of full Republican control, yet still he increased the deficit and is still going strong.
     
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  16. FatBack

    FatBack Well-Known Member

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    And? Complicate that by adding to it by orders of magnitudes higher? That's some backwards logic. AND you did not answer a single question, just tossed out some whataboutism.
    Be bold, try to answer.
     
  17. FatBack

    FatBack Well-Known Member

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    We must send a SEAL team to the North Pole to abduct Santa Claus because that is the only way to provide "FREE" health care to around 20 million illegals.
     
  18. doombug

    doombug Well-Known Member

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    Lefties complaining about the debt when obama doubled it. Ironic!
     
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  19. raytri

    raytri Well-Known Member

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    And do you know how he arrives at that $222 trillion figure? By taking current trends and projecting them out TO THE END OF TIME.

    No, seriously:
    https://www.mercatus.org/system/files/debt-in-perspective-analysis.pdf


    Boston University economist Laurence Kotlikoff calculates a “fiscal gap” amount of $222 trillion using the Congressional Budget Office’s alternative long-term budget forecast. The fiscal gap measure takes into consideration the present value of all the expenditures now through the end of time (including servicing the official debt) and subtracts all the projected taxes from that amount.


    In other words, take a $500 billion deficit, assume we'll run that same deficit for 500 years, and voila! -- we have a $250 trillion debt.

    Kotlikoff's measure is useful in terms of putting a number on the fiscal peril we face if we continue running deficits. But that's about it.
     
  20. lpast

    lpast Well-Known Member Past Donor

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    222 Trillion in debt and just the democrat agenda wish list is trillions more.

    Medicare for all, including illegal immigrants
    Free College including illegal immigrants
    All college loan forgiveness
    Give housing stipends so the poor can buy houses
    Give All teachers a 13,500 raise
    Last but not least the IDIOT Green New Deal
     
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  21. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    Agreed.

    Government has a massive spending problem.
     
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  22. Turin

    Turin Well-Known Member

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    We must immediately put another tax break in place for millionaires, and cut funding for all the programs that help the poor.

    This should solve the problem.
     
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  23. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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    Explain Venezuela.
     
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  24. FatBack

    FatBack Well-Known Member

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    It's mind boggling any rational adult believes that is remotely possible...Vote Santa Claus 2020, because he's the only way!
     
  25. Giftedone

    Giftedone Well-Known Member Past Donor

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    Yes it can - your being silly and giving no explanation. A fiat currency can to go zero in worth - and then you can't buy anything with it - so you are broke.
     

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