Current U.S. National Debt approaching $20 Trillion

Discussion in 'Budget & Taxes' started by kazenatsu, Sep 8, 2017.

  1. kazenatsu

    kazenatsu Active Member

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    The current U.S. National Debt is fast approaching the 20 trillion mark.
    It's currently $19.977 trillion.

    While interest rates are low right now, historically they have been in the territory of around 5 percent. From 1969 to 1996 they were above 6 percent.

    When interest rates go back up to 5 percent, that will mean 28.5 percent of the federal tax revenue will go just to pay the interest on the debt.

    That's if there is no budget deficit and the U.S. is not paying down the debt.

    This is a very conservative forecast. There are a lot of potential scenarios that could turn out much worse than that. I don't understand how anyone can say this isn't a big issue we should be concerned about.
     
  2. Mr_Truth

    Mr_Truth Well-Known Member

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    Blame Trump and his laissez-faire Reaganomics.
     
  3. wgabrie

    wgabrie Well-Known Member Donor

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    They want to spend until they default. That's the way of things. Nobody has any fiscal responsibility.

    Movements have come and gone over the debt (the Tea Party) and no one in Washington DC wants to fix it. Basically we're doomed. But people on social welfare programs are the worst off and most doomed of all. That's one way to get rid of social programs. Wait until the default then cut off the insignificant fools and let them die. It will happen.
     
  4. Mr_Truth

    Mr_Truth Well-Known Member

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  5. Ndividual

    Ndividual Well-Known Member

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    The Federal government could divert a large portion of ALL the social program spending to the areas suffering from natural disasters, flooding and hurricane ravaged where much labour is needed, allowing Soros to bus his followers to where they could be put to work productively and earn some money to take back home when they bare done.
     
  6. Mr_Truth

    Mr_Truth Well-Known Member

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    Better if all the corporate welfare given to the military industrial complex was diverted instead. Make those welfare queens earn their keep.
     
  7. BleedingHeadKen

    BleedingHeadKen Well-Known Member Past Donor

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    Probably in the same place Democrats put their objections to war while Obama was in office.
     
  8. Mr_Truth

    Mr_Truth Well-Known Member

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    Dems criticized Obama during the war - that's why so many abandoned Hillary for Sanders.

    Meanwhile, right wing fan boys still love Trump and refuse to criticize him.
     
  9. Ndividual

    Ndividual Well-Known Member

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    I'd support putting an end to ALL forms of government welfare spending.
     
  10. BleedingHeadKen

    BleedingHeadKen Well-Known Member Past Donor

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    There was barely a peep as Obama escalated military actions and drone strikes. I was there when the Vigils for Peace, which had been well attended throughout Bush's term, dried up the day Obama was inaugurated and never returned.

    Hilary was a war-hawk, but they'd take her over a peace-loving Republican.

    Partisan blindness affects both sides, and the ruling class exploits that to its benefit.
     
  11. Mr_Truth

    Mr_Truth Well-Known Member

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    OK. So let's begin by ending all foreign tax shelters and by dissolving the military industrial complex. All who profess to be "conservative" on this forum should readily agree. Failure to do so is hypocrisy of the worse kind.
     
  12. Mr_Truth

    Mr_Truth Well-Known Member

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    You should read democraticunderground.com where many libs criticized Obama for perpetuating the two wars started by traitor Bush.
     
  13. Ndividual

    Ndividual Well-Known Member

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    Let's compromise and end ALL forms of government welfare 'spending' simultaneously.
     
  14. BleedingHeadKen

    BleedingHeadKen Well-Known Member Past Donor

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    So that's where the tiny percentage of true anti-war Democrats showed up, in the largest online echo chamber that silences significant dissent.
     
  15. Battle3

    Battle3 Well-Known Member

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    Dems didn't criticize Obama, they backed everything he did, whether what he did was illegal or legal, constitutional or not.

    And what was the biggest news over the past week? Conservatives slamming Trump over Trumps apparent cave-in on illegal amnesty.

    Don't you even read headlines? Or are you just mouthing off falsehoods because its the prog way?
     
  16. Mr_Truth

    Mr_Truth Well-Known Member

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    Dems criticized Obama for not doing enough to end tax shelters and corporate welfare.

    It is you deluded and hate filled right wingers who need to take off the partisan blinders and to get your facts straight.
     
  17. Ndividual

    Ndividual Well-Known Member

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    Perhaps it's time to put this thread to rest?
    The current debt is now $20,179,769,858,967.22
    $232,465,303,754.73 greater than what it was when Trump was inaugurated.
     
    Last edited: Sep 24, 2017 at 2:26 AM

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