The U.S. national debt exceeded $33 trillion for the first time ever

floridafan said:
I have already pointed out the truth. Bush and Trump have been responsible for almost half of the national debt.Not once in trumps 4 years did the republicans make an attempt to reduce spending, reduce the national debt. It only happens when we have a Democrat in the WH.
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lol.....the spending deficits in Trump's three years were lower than Obama's first six or Biden's first three.....we all know that Republicans are always voting to spend less and Demmycrats are always voting to spend more......

https://fred.stlouisfed.org/series/FYFSD
 
Doc Dutch said:
So Greece's problems a few years ago were fiction? Trump was right to just default on the national debt?
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The national debt is a boogeyman that Republicans like to scare the public with to get votes. Do you understand how fractional reserve banking works? Because, in fractional reserve banking, zero debt would mean zero money.
 
America said:
The national debt is a boogeyman that Republicans like to scare the public with to get votes. Do you understand how fractional reserve banking works? Because, in fractional reserve banking, zero debt would mean zero money.
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I have a basic understanding of economics. Agreed the Republicans love to fearmonger including using boogeyman. That said, cutting taxes and increasing spending usually ends in bankruptcy or printing worthless money.

As of last year according to the link below, the US is carrying 128% debt to GDP. That puts us in the same category as Italy and Venezuela. With no change in sight, we're heading for Greek levels.

https://worldpopulationreview.com/country-rankings/countries-by-national-debt
7zpqvn.jpg
 
Doc Dutch said:
I have a basic understanding of economics. Agreed the Republicans love to fearmonger including using boogeyman. That said, cutting taxes and increasing spending usually ends in bankruptcy or printing worthless money.

As of last year according to the link below, the US is carrying 128% debt to GDP. That puts us in the same category as Italy and Venezuela. With no change in sight, we're heading for Greek levels.

https://worldpopulationreview.com/country-rankings/countries-by-national-debt
7zpqvn.jpg
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You're wrong and the reason why is fractional reserve banking. It's a complicated topic, but here's a video introduction.

 
America said:
You're wrong and the reason why is fractional reserve banking. It's a complicated topic, but here's a video introduction.

[video=youtube_share;hPsRe6zILQU]https://youtu.be/hPsRe6zILQU?feature=shared[/vide]
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Oh, thanks. That explains why the US credit rating was downgraded. LOL

Why don't other modern countries carry as much debt to GDP as the US? They use fractional reserve banking too.
 
Doc Dutch said:
Oh, thanks. That explains why the US credit rating was downgraded. LOL

Why don't other modern countries carry as much debt to GDP as the US? They use fractional reserve banking too.
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False. According to Google, that distinction belongs to Japan. The US is around 100 on the list.
 
America said:
False. According to Google, that distinction belongs to Japan. The US is around 100 on the list.
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Soooo....according to you, if your neighbor spends themselves into bankruptcy, it's okay if you do it too? I disagree with your "logic".
 
Hawkeye10 said:
Americans are exceptionally unprepared for the economic hardships they will face, and it looks like they will have to do it under a the brutal anti-human regime known as WOKE.
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Maybe, at some point in your life, after you have learned to be motivated, thrifty, and maintain a positive attitude, you will have more success. True, these are rudimentary skills that many of us "normal" people take for granted that everyone has an easy time of mastering. But we sometimes forget that there are "challenged" persons in this world who find these things more difficult. I wish you the best of luck in the emotional, financial, and social struggles that seem to be placing such a demand on you.

Best of luck to you Pal!
 
floridafan said:
We are discussing the Trump deficits of $8 trillion. You're kind every opportunity to reduce these deficits during Trumps first two years. Trump was the man who promised to balance the budget!
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He never promised to balance the budget. He can't as President. That's the job of Congress...DEMOCRATS.
 
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