Latest Breaking News

oldsoftie

(12,492 posts)

45. Thats a fair point. And 2020 HAS to be looked at as an outlier.

Reply to MichMan (Reply #40)

Fri Oct 7, 2022, 08:42 PM

Oct 2022

It was a messed up year all over the world.

Edit history

Please sign in to view edit histories.

46 replies

= new reply since forum marked as read

Highlight:

America's national debt has now surpassed $31 trillion [View all] mahatmakanejeeves Oct 2022 OP

And to think the media was apoplectic when, in '81, it reached ONE trillion peppertree Oct 2022 #1

I think I remember something similar at 3 T, maybe because it was during Clinton's presidency? LT Barclay Oct 2022 #2

$3 trillion? That would be the elder Bush peppertree Oct 2022 #9

Yes, $3T near the end of President Clinton's second term. roamer65 Oct 2022 #34

Maybe someone knows something we don't Marthe48 Oct 2022 #3

I don't get it either. And yet the dollar currency soars!?? Bieing the world reserve currency is why Alexander Of Assyria Oct 2022 #25

8 trillion in two years is insane madville Oct 2022 #4

Money is fake, just print more OtterDave Oct 2022 #15

"Just print more" will also bring you MORE inflation. oldsoftie Oct 2022 #24

Yep, it's a tax on every consumer madville Oct 2022 #30

It doesn't hurt corporations or countries madville Oct 2022 #32

I agree DashOneBravo Oct 2022 #35

This message was self-deleted by its author DashOneBravo Oct 2022 #36

Tax cuts plus Covid relief money Warpy Oct 2022 #17

A Democrat MUST be in the White House. The debt isn't "fuzzy math" or "money we owe ourselves" ck4829 Oct 2022 #5

By my lousy math, that's about 100k for every man, woman, and child 867-5309. Oct 2022 #6

DICK Cheney said, "Ronald Reagan proved debt doesn't matter" (Except when a D's in the WH) czarjak Oct 2022 #7

Ronald Reagan tripled the debt of this country in 8 years. louis-t Oct 2022 #28

Maybe some tax cuts and war will help this problem IronLionZion Oct 2022 #8

Yeah, that sounds like a lot... DemocraticPatriot Oct 2022 #10

Democrats were in charge of the house the entirety of Reagans two terms MichMan Oct 2022 #11

It didn't have to be this way. moondust Oct 2022 #12

this is getting into the weeds, but each year the actual national debt still went up, regardless of Celerity Oct 2022 #19

Congress determines the federal budget and spending, not the president. MichMan Oct 2022 #21

Not necessarily Johnny2X2X Oct 2022 #37

Yet, it still has to pass congress before being signed by the president. MichMan Oct 2022 #38

A reminder... deficits are NOT the national debt. WarGamer Oct 2022 #46

The numerical amount of debt is not relevant. What is relevant is debt/yearly gdp grantcart Oct 2022 #13

And once again, its all Biden's fault! Bayard Oct 2022 #14

Not just the bottoming under Trump karynnj Oct 2022 #33

The top 1% have about 41.5 trillion in wealth. (2021 number) Midnight Writer Oct 2022 #16

But the huge majority of that wealth isn't actual "money". oldsoftie Oct 2022 #23

So? Pandemic + war + not taxing the wealthy for 40 years produces big debt. PSPS Oct 2022 #18

Bingo Picaro Oct 2022 #31

American annual GDP is 23 trillion.... pbmus Oct 2022 #20

And we will never do what's needed to reduce it. NEVER. oldsoftie Oct 2022 #22

A 4 tier flat tax newdayneeded Oct 2022 #26

Add a sales tax to that. Far too easy to evade income taxes. oldsoftie Oct 2022 #27

Sales taxes Zeitghost Oct 2022 #42

I dont care. It works well in the EU & elsewhere. EVERYONE should pay into the system. oldsoftie Oct 2022 #44

"Deficits don't matter" - V.P. Dick Cheney in a TV interview. n/t TeamProg Oct 2022 #29

Info on deficit and debt Mysterian Oct 2022 #39

Since all spending must be authorized by congress, it would be interesting to see the same data MichMan Oct 2022 #40

Thats a fair point. And 2020 HAS to be looked at as an outlier. oldsoftie Oct 2022 #45

Pretty small compared to China's EX500rider Oct 2022 #41

Yep. And it's lower than the debt/gdp of a number of other countries, as well. ancianita Oct 2022 #43