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I am truly concerned about the 22 trillion national debt. We will be entering another recession before long and will be doing so with limited borrowing power to stimulate the economy because of our debt. US national debt per taxpayer equals $179,908.00. Politicians seem only interested in lowering taxes or spending borrowed money. Is anyone else concerned about this? [usdebtclock.org]

rogueflyer 8 Feb 21
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1

I am as well. There is also that thing of the reset of the world that also has liabilities for its loans that equate to over 200 trillion. So, to also compound interest to those things most areas of the world are about infinite growth on a finite planet.

1

and then there's the unfunded liabilities of 100 million+.

2

Bill fixes the economy, W runs it into the ground. Barrack turns it around via reasonable policies, Drumpf and cronies screw it all up again. Rinse, repeat.

4

This is very concerning. Every single economist has said that Trumpskis tax cuts were ridiculous. The economy was already on the upswing. We should have been paying off debt, not taking on more. The economy will downturn at some point and we need to be prepared for it. There was no need for tax cuts at the time other that 45 giving breaks to his rich friends.

2

I'm definitely concerned. It's going to take a massive change within the Republican party in order to fix this by totally denouncing trickle-down economics. I don't mind giving tax incentives to business that actually do things to stimulate growth, especially by creating full-time positions, but giving them tax breaks on an unwritten promise of doing so is just insane.

way too late to fix.
the elites know that the present system is FUBAR so they're taking everything out of it they possibly can before the crash & burn.

@callmedubious I guess I'm not as cynical as you.

0

I am certainly concerned. The best way out of this mess is to stimulate the economy with loose money and reign in government spending. The loose money helps the economy grow and makes each one of those $22,000,000,000,000 dollars worth less.

Unfortunately from Feb 2018 through Jan 2019 our idiot Fed Chairman was doing just the opposite.

BD66 Level 8 Feb 21, 2019

the current fedhead just added a few drops to the bucket.
the national debt started going exponential with greenspan decades ago.

4

The national debt is already so profoundly huge that paying it off to all of our debtors will be virtually impossible.

Sooner or later, our biggest debtors like China will simply stop lending and trading with us all together and tell us to figure out our financial issues ourselves.

By rights, they could simply call in the debt and foreclose on all US territories. Attempting that would probably lead to WWIII, so it's not likely to happen, but they certainly can refuse to do business with us anymore.

In fact it's already happening.
China has discovered that they can do just fine without us, acquiring their cash crops and other trade items from countries like Argentina. Good for Argentina. Very bad for us.

What happens to the US economy when we no longer have any trade partners is anyone's guess. But it can't be good.

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