US Debt at $19,959,943,400,000 will $20 trillion make the news?

[Pettuh4]

Have you guys been too www.usdebtclock.org recently? We are fastly approaching the the $20 Trillion in debt mark. 2 questions; will this information make the news and at what point does the dollar actually crash? Its been common knowledge that the dollar has lost 96% of its value since 1919 but what is it at right now 98% maybe 99% value gone? Just wanted to get your take.

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"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson

Once controversial Donald Trump remains the president it will make the headlines soon because he's bent on tainting the image of his predecessors especially the immediate past Obama administration so I wouldn't be a wee bit surprised if it hit the news any time soon.

[Xester]

Wow that is a very surprising news. If other countries have that huge debt they are already down at this point of time. But the United States of America even with Trillion of Dollars of debt they are still good to go since they dont just own a national currency but a world currency. But this debt is very alarming if taken for granted the US economy may crash.

[p2607]

What day is expected to hit the $20 trillion?

[justdimin]

Wow that is a very surprising news. If other countries have that huge debt they are already down at this point of time. But the United States of America even with Trillion of Dollars of debt they are still good to go since they dont just own a national currency but a world currency. But this debt is very alarming if taken for granted the US economy may crash.

Yes, surely a good new for every bitcoiner as weaker dollars will support alternate investments to get appreciations. We can not be sure that they are still doing good because a bottleneck may occur at any time which might lead a big collapse too.

What day is expected to hit the $20 trillion?

I am also very keen to find out that. But, this http://www.usdebtclock.org clock is not providing any such information.

[odolvlobo]

It seems unfair to me. The debt will cross the $20 trillion mark in the next few days. The media will go ballistic and they will dish out headlines such as "US federal debt at $20 trillion under the Trump presidency". No one is going to mention that half of that debt was created by Barack Obama.

Dude
Don't blame him for 10 trillion xD
I mean he didn't reduce the debt for sure
but 10 trillion? Seriously? xDDDD

Yes Obama doubled the debt from $10 to $20 trillion, just over the total of every previous president combined.

It is Congress that is responsible for this debt. The President has little control over it.

[sportis]

I am almost certain that the mass media will poorly deal with the matter of debt unless they want to throw all the blame on president Trump. Essentially, nothing will be happen because none can do anything now. The american dollar has crashed after August 1971, i.e the Nixon Shock. If USA was not the superpower of the world after the collapse of the Soviet Union and if the majority of the debt after the part which have the US citizens and American entities was not in China and Japan the 2nd and 3rd economy in the world, the everyday life in USA is likely that it would have been worse than the default Venezuela and other poor countries all over the world.

[Pab]

Hi Thomas
Debt cant be infinitive,i can say virtual economy cant crash becouse it is only virtual,but we are not virtual,we dont eat virtual food we dont drink virtua water sooner or later it will cause crisis.In fact world is in big crsis and world is on the edge of tragedy,finally it will hit people in devloped countrys,empty slogans will not change it.Westerness world is dieing,

[mtwelve]

It'll probably be covered by some media outlets, but honestly I don't think Americans will care too much. A mention for Bitcoin might be pertinent, so perhaps we might see a slight increase in price; Bitcoin usually surges during times of uncertainty. Must be tough for US debt to approach $20 trillion with the Trump Administration just being inaugurated into office :p

[Redrose]

No, I do not think this will make the news, at least from outsing the United States. For a few reasons : that would alarm people for nothing since this changes absolutely nothing, people out of the United States does not care about the debt of the USA, and be frank, talking about the new bakery that just opened is more interesting !

Until it hits a tipping point and international confidence in the USD is lost shifting to the Yuan.

The USA will then be in a world of hurt.

Very interesting scheme you are sharing with us. My main question now is it if it is possible according to you guys that another currency take the lead ? I doubt about this : yuan is being devaluated hardly, ruble will not be for ideological reasons, euro is not that interesting, pound is dead.

[n691309]

Have you guys been too www.usdebtclock.org recently? We are fastly approaching the the $20 Trillion in debt mark. 2 questions; will this information make the news and at what point does the dollar actually crash? Its been common knowledge that the dollar has lost 96% of its value since 1919 but what is it at right now 98% maybe 99% value gone? Just wanted to get your take.

please visit my blog bit-coin-expert.com

Which is the main reason that united states has this deep debt at $20 trillion? Isn't one of the reason the interest or mostly the bad management of the money. I have read recently how Turkey has paid their duties within a short time and became one of the strongest country in the world being listed in Top15 and Tayyip Erdogan increased the economy of his country, can united states learn something from this?

[coolcoinz]

The size of debt doesn't matter. It's basically impossible to pay and still growing, all because of the crazy high and unjust interest. Iceland did not pay their debt and did anything happen? No.
Cyprus went bankrupt, did something happen? No. What if the debt becomes 10x times the GDP? They can't pay it now and they won't be able to in 10 years.

[Sithara007]

It is Congress that is responsible for this debt. The President has little control over it.

No. Obama should be blamed because the bank bailouts and Obamacare is responsible for most of this debt. And despite having a Republican majority, until 2012 or so, the Democrats were controlling both the senate and the house, with the help of RINOs such as Susan Collins and Olympia Snowe.

[BitcoinHodler]

the only thing that i am interested in is the profit of my investments. which are mostly bitcoin, gold and some other things. and in my experience when there is a fear of economical crash, people will run to invest their money in other things and make their price go up. and that is just the start, these things will always have a ripple effect when others will join in and push prices higher.
now the question is what is going to be the most invested commodity?

[topesis]

Wow that is a very surprising news. If other countries have that huge debt they are already down at this point of time. But the United States of America even with Trillion of Dollars of debt they are still good to go since they dont just own a national currency but a world currency. But this debt is very alarming if taken for granted the US economy may crash.

Who are the people or countries United States is owning this amount of money? $20 Trillion is a humongous amount of money and default in payment will crash the world economy

[bryant.coleman]

Who are the people or countries United States is owning this amount of money? $20 Trillion is a humongous amount of money and default in payment will crash the world economy

The maximum interest rate being paid for the US treasury bonds is around 3% (and that too for the 30-year bonds). The Americans are perhaps paying the lowest interest rates for federal debt in the world. So they don't gain anything by defaulting. On the other hand, they can simply sell a few more treasury bonds and use the revenues to pay back the earlier loans.

[bitbunnny]

USA will not default and their economy will not crash, politics just wouldn't allow that. But I don't think they will ever repay that debt either, they are a super power and certain rules just don't apply to them. Have you noticed that someone in USA is seriously worried because of this debt? No.

[Huge Black Woman]

Nuthin makes the noos inna United States unless it's dressed up inna thong or jist shot up a skool.  Mebbe when that there debt hits 10 QUADRIZILLION then it'll git a little mention.

[mtwelve]

USA will not default and their economy will not crash, politics just wouldn't allow that. But I don't think they will ever repay that debt either, they are a super power and certain rules just don't apply to them. Have you noticed that someone in USA is seriously worried because of this debt? No.

Yup... this why people say US is the richest and poorest country at the same time. If GDP and job openings keep to increase, no one really cares about debt. It just becomes a number tbh. Maybe one day it'll bite us in the butt, but since the US has so many connections with other countries, other countries would probably end up bailing out the US if it ever came to that.

[turkandjaydee]

how reliable is that site?
I dont think US want to pay that at all 

[Sithara007]

USA will not default and their economy will not crash, politics just wouldn't allow that. But I don't think they will ever repay that debt either

The first part and second part of your post is contradictory to each other. If you don't repay your debt, it is called "default". The United States of America has never defaulted on loan repayments anytime in the recorded history.