Nothing exclusive simply tracking FY 2018 debt progress

Discussion in 'Budget & Taxes' started by Ndividual, Nov 3, 2017.

  1. Ndividual

    Ndividual Well-Known Member

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    This thread was started for no reason other than to provide data showing our Federal debt change each month. My expectation was that it would be a 12 post thread. Any conversation or debate about the debt should then result in the creation of another thread with the OP setting a context for discussion/debate to follow.
    My thread title states it to be "simply tracking the FY 2018 debt" noting that not everyone pays it much attention.
    The Federal debt has increased $21,284,580,588,348.17 since my birth.
     
    Last edited: Aug 4, 2018
  2. Reiver

    Reiver Well-Known Member

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    Creating a thread aimed at avoiding context? Sounds perfect for your approach to economics!
     
  3. Ndividual

    Ndividual Well-Known Member

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    As I said, I'm providing a source of data for quick and easy access. Feel free to apply it in a thread with a context of your liking, and I might even respond to those who post in it who are not on my ignore list, which you are on so further response in this thread will likely be a waste of your time, but not mine.
     
    Last edited: Aug 4, 2018
  4. Reiver

    Reiver Well-Known Member

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    Data without context is always useless. You might as well be plugging in distances you walked your pet Yorkie
     
  5. Ndividual

    Ndividual Well-Known Member

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    FY 2017 ended on 09/29/2017 with our government reporting a total debt of $20,244,900,016,053.51


    FY 2018 Mo 01 debt now $20,442,473,549,889.39 a monthly change of $197,573,533,835.88
    FY 2018 Mo 02 debt now $20,590,391,942,312.26 a monthly change of $147,918,392,422.87
    FY 2018 Mo 03 debt now $20,492,746,546,193.75 a monthly change of −$97,645,396,118.51
    FY 2018 Mo 04 debt now $20,493,729,921,939.72 a monthly change of ...... $983,375,745.97
    FY 2018 Mo 05 debt now $20,855,671,542,905.95 a monthly change of $361,941,620,966.23
    FY 2018 Mo 06 debt now $21,089,642,954,195.85 a monthly change of $233,971,411,289.90
    FY 2018 Mo 07 debt now $21,068,200,197,433.39 a monthly change of −$21,442,756,762.46
    FY 2018 Mo 08 debt now $21,145,215,185,726.27 a monthly change of ..$77,014,988,292.88
    FY 2018 Mo 09 debt now $21,195,069,635,322.81 a monthly change of ..$49,854,449,596.54
    FY 2018 Mo 10 debt now $21,313,061,060,202.36 a monthly change of $117,991,424,879.55
    FY 2018 Mo 11 debt now $21,458,849,674,105.03 a monthly change of $145,788,613,902.67
     
  6. OldManOnFire

    OldManOnFire Well-Known Member

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    People don't care about debt...they only care about themselves...
     
  7. Reiver

    Reiver Well-Known Member

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    People care about their debt. The figures presented have no context and therefore no economic value
     
  8. OldManOnFire

    OldManOnFire Well-Known Member

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    Many people are careless with debt and most ALL people do not care about government debt...out of site out of mind...
     
  9. Reiver

    Reiver Well-Known Member

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    You miss the point: personal and government debt cannot be compared. Throwing out numbers, without providing context, pretends otherwise.
     
  10. OldManOnFire

    OldManOnFire Well-Known Member

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    We can compare apples and oranges so we can compare personal and public debt. The type of debt are different but the root philosophy is the same; borrowing from the future to pay the present. Don't know about your side of the pond but in the USA it is rare to find anyone not using debt money. It's so common that few give it any thought, and this is what carries over to public debt...almost no one cares!
     
  11. Reiver

    Reiver Well-Known Member

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    We can't actually. We'd be comparing one apple with a few trillion oranges. Good luck with that!
     
  12. OldManOnFire

    OldManOnFire Well-Known Member

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    It's still a comparison...
     
  13. Distraff

    Distraff Well-Known Member

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    Looks like we have another case of musical chairs. Republicans are off the debt threads but when they are on, they are trying to justify it. Democrats are the deficit hawks. It was the reverse a few years ago. Just proves that Americans love going into debt and only talk fiscal responsibility for political convenience.
     
  14. Reiver

    Reiver Well-Known Member

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    Just an irrelevant one.
     
  15. CourtJester

    CourtJester Well-Known Member

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    I think given the current deficit you should tax more if you are going to spend more. Agree that the rule doesn't apply to every possible situation but I do think it applys now and probably quite a ways into the future. That by the way is not to say that any deficit is bad or that having a balanced budget is a good idea.
     
  16. Reiver

    Reiver Well-Known Member

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    It would arguably be good to increase progressivity in order to ensure more redistribution. Inequalities often harm economic activity after all.

    The trouble is that you get folk abusing the Laffer Curve (which is often multipeaked and justifies tax increases)
     
  17. CourtJester

    CourtJester Well-Known Member

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    Lets not get into the Laffer curve. It is really much more a hypothesis than a fact. A search for proof of the Laffer Curve is a fruitless exercise.

    And While the thought that inequality often harms economic activity is appealing not sure you can produce aby real evidence.
     
    Last edited: Sep 19, 2018 at 3:58 PM
  18. Reiver

    Reiver Well-Known Member

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    One chosen randomly...

    https://link.springer.com/article/10.1007/s10887-013-9099-8
     
  19. CourtJester

    CourtJester Well-Known Member

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  20. Bluesguy

    Bluesguy Well-Known Member Donor

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    What if it means higher tax revenues?
     

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