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

[cpfreeplz]

Howany bitcoins of debt do they have? Oh wait, you don't need debt when you're your own bank. I guess after the USD collapses they'll look into bitcoins.

[1714180972]

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[LeGaulois]

I will really want to know the composition of the debt with that I can know whether to castigate the ruling class or not. If the money is borrowed for the betterment of the country then I am good which I doubt though. USA to my understanding is fond of throwing money around in forms of aid in other to still maintain control of world politics in which the money could even come from debt. I think they really need to look for ways to reduce that and maybe the 4th generation can finish paying that debt...

the Social Security Trust Fund is the most cause of the usa debt, it is a fund used for retirement money. And the fed is simply monetizing the debt. FED purchases Treasurys from its member banks using credit created with air. Also china and japon both own something like 2 trillions dollars together, they are the largest foreign holders.

Honestly think that military spending is where the United States needs to cut back. Reallocate funds back to STEM, and in a decade USA could be paying off this debt. Trump's focus on bringing a couple thousand jobs of manufacturing is only sustainable as long as the government subsidizes it. We should focus on preparing/initiating the fourth revolution, which is probably the only thing to spur enough economic growth to pay off this debt, besides another World War.

Yes, you're right about the military it's a good point. Specially when we see the results. Don't know if thoses stats were right, but once i saw that 25% of the homeless people in USA are veterans
I don't think the Trump presidency will be enough long to complete his goals. Bringing a couple thousand jobs of manufacturing is a thing but i don't think big companies would be ready to decrase their margins, they will prefer incrasing the prices of theirs products. All what matter to them is profits, profits and again profits

[ether19]

It has a high probability it will hit the news, this is a "milestone".

It will hit the news, but nothing will be getting done about it. It will just hit the news and people will forget about it until 30 trillion dollars is reached, then they'll get it on the news again, they will forget, they will bring it back for 40 trillion dollars... and so on ad infinitum. There is nothing that's going to change. I wonder if the system can work as it is now under any amount of debt. People just seem to not give a fuck about it. Everyone acts as if there will never be any consequences.

Definitely! it will make some news headlines but things will be as usual. The entire cycle keeps going until it crashes. GOD alone knows when this will blow up into a financial disaster. I think everybody knows that debt will keep accumulating and there is nothing much left to do anything about it.

[Xester]

It has a high probability it will hit the news, this is a "milestone".

It will hit the news, but nothing will be getting done about it. It will just hit the news and people will forget about it until 30 trillion dollars is reached, then they'll get it on the news again, they will forget, they will bring it back for 40 trillion dollars... and so on ad infinitum. There is nothing that's going to change. I wonder if the system can work as it is now under any amount of debt. People just seem to not give a fuck about it. Everyone acts as if there will never be any consequences.

Definitely! it will make some news headlines but things will be as usual. The entire cycle keeps going until it crashes. GOD alone knows when this will blow up into a financial disaster. I think everybody knows that debt will keep accumulating and there is nothing much left to do anything about it.

It will never be on the headlines and the US government will just cover up those details to hide in the public. The united States of America will not allow those news into the mass media as it will reflect to them negatively. But their debt on trillions will continue to grow and they will just print more dollars to  hide the real situation of their country.

[Przemax]

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.

backing up

Ok well my bad I shut up here xD
Impressing. Most impressing in fact is how every president (since JFK) at least doubled the debt in fact!
Like it's some POTUS requirement!

And it was the JFK that wanted to issue the greenbacks. I guess he knew that the debt the america had is no longer sustainable and as we see it is even less sustainable now.

[mtwelve]

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.

backing up

Ok well my bad I shut up here xD
Impressing. Most impressing in fact is how every president (since JFK) at least doubled the debt in fact!
Like it's some POTUS requirement!

And it was the JFK that wanted to issue the greenbacks. I guess he knew that the debt the america had is no longer sustainable and as we see it is even less sustainable now.

I think that graph is slightly misleading, as the cumulative effect of the last president's policies on debt is rolled onto the next president. And things seem sustainable, no one is really freaking out about the amount of debt that we have, and it seems to most people it's just a number. I imagine if government continues to provide the services and functions as it has in the past, the average American citizen won't care all too much.

[Sithara007]

I think that graph is slightly misleading, as the cumulative effect of the last president's policies on debt is rolled onto the next president.

That may be true in the case of GHW Bush and GW Bush. But Obama was responsible for almost all of the debt created during his term, in the form of his Obamacare scam and the Wall Street bailout.

[Hydrogen]

If the united states economy collapses, it won't only affect america, the entire world economy will be brought down.

The deficit is very important.

It makes me happy to see many are concerned with it.

A marked and improved contrast to only a few years ago when everyone was convinced the deficit was irrelevent.

[richar_el23]

If the united states economy collapses, it won't only affect america, the entire world economy will be brought down.

The deficit is very important.

It makes me happy to see many are concerned with it.

A marked and improved contrast to only a few years ago when everyone was convinced the deficit was irrelevent.

You can not particularly worry about the economy of the United States of America. Their debt is measured in dollars that they themselves draw. Is that what America is a big problem to hold inflation to pay off the debts?

[bryant.coleman]

If the united states economy collapses, it won't only affect america, the entire world economy will be brought down.

Yes.. that is the problem. The global markets are dependent upon the American markets (NYSE / NASDAQ). Almost every single bank in the world is interlinked to the American banks. Even the forex rates for the other fiat currencies and even Bitcoin are based on the United States Dollar. It is the world's reserve currency and the only widely acceptable currency for international trade.

[miningdude]

Well the dollar on this way it already crashed and if it crashed this year again it will be a big loss to the U.S

[Vaccinus]

Well the dollar on this way it already crashed and if it crashed this year again it will be a big loss to the U.S

yeah but look at the other currency they are in a bad position too, if the dollar crash but the other giant crash too nothing really change, the USA know this and they can still maintain the supremacy

If the united states economy collapses, it won't only affect america, the entire world economy will be brought down.

The deficit is very important.

It makes me happy to see many are concerned with it.

A marked and improved contrast to only a few years ago when everyone was convinced the deficit was irrelevent.

You can not particularly worry about the economy of the United States of America. Their debt is measured in dollars that they themselves draw. Is that what America is a big problem to hold inflation to pay off the debts?

can they keep this game where they continue to pay their debts by creating other debts while their inflation remain constant? their inflation last time i checked was even lower, this is absurd for me

[bryant.coleman]

Well the dollar on this way it already crashed and if it crashed this year again it will be a big loss to the U.S

When did the Dollar crashed last time? Honestly, I can't remember. On the other hand, right now it is the other (fiat) currencies, which are losing their value against the United States Dollar. Look at the Euro, it has lost almost 32% of its value against the USD during the last four years. And Euro is not an isolated example. Look at the Great Britain Pound (UKP). It has lost 38% of its value against the USD since 2014.

[Hydrogen]

You can not particularly worry about the economy of the United States of America. Their debt is measured in dollars that they themselves draw. Is that what America is a big problem to hold inflation to pay off the debts?

The Soviet Union was not destroyed by war or military action.

The Soviet Union was destroyed by outstanding debt and economic mismanagement.

Rome also was destroyed by debt, expensive foreign wars and similar problems.

There are lessons in the history of these things americans could learn from.

Or they could choose not to learn and have history repeat itself.

[bryant.coleman]

You can not particularly worry about the economy of the United States of America. Their debt is measured in dollars that they themselves draw. Is that what America is a big problem to hold inflation to pay off the debts?

The Soviet Union was not destroyed by war or military action.

The Soviet Union was destroyed by outstanding debt and economic mismanagement.

I agree that the Soviet Union was destroyed by outstanding debt and economic mismanagement. But how did the USSR managed to pile up all this debt? There is one main reason - WAR. The war in Afghanistan was extremely expensive, both in economic and human terms for the Soviet Union. Also, the USSR wasted a lot of money in trying to prop up other communist nations, such as Cuba and Vietnam.

[BillyBobZorton]

You can not particularly worry about the economy of the United States of America. Their debt is measured in dollars that they themselves draw. Is that what America is a big problem to hold inflation to pay off the debts?

The Soviet Union was not destroyed by war or military action.

The Soviet Union was destroyed by outstanding debt and economic mismanagement.

I agree that the Soviet Union was destroyed by outstanding debt and economic mismanagement. But how did the USSR managed to pile up all this debt? There is one main reason - WAR. The war in Afghanistan was extremely expensive, both in economic and human terms for the Soviet Union. Also, the USSR wasted a lot of money in trying to prop up other communist nations, such as Cuba and Vietnam.

How do all monopolies stack up massive power which eventually ends up converted in debt? Through war cycles... there are no exceptions.

US benefits from war cycles too, everyone does, the problem is when you are on the wrong side.

Unfortunately humans haven't evolved enough to be able to be safe from those war cycles.

[Sithara007]

^^^^^ War is a big business now and big corporations make enormous amount of profit out of it. The Iraqi invasion cost the American tax payers close to $2 trillion. Only a small fraction of that was paid to the soldiers. So where the remaining went?

[Hydrogen]

Looks like Donald Trump managed to reduce the deficit by $12 billion as of 2/21/2017.

At some points in february he reduced the US deficit by $61 billion.



Maybe there is hope after all.