How did we all get here?

[ariinv]

Us National Debt : 30,362,719,000,000 USD

Debt per citizen : 91,238 USD

Debt per taxpayer : 242,500 USD

Defense /Wars: 724,204,518,000 USD

Waste/Fraud/Abuse: 143,777,927,000 USD

Total Debt to GDP Ratio:139%

Us Trade deficit China : 368,906,488,000 USD

Us Homeless: 593,214

Us Millionaires: 22,121,766

$to Crypto Ratio 2013: 9,523 to 1

$to Crypro Ratio Now : 9.98 to 1

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[Hydrogen]

Some might find the following interesting.

David M. Walker (born October 2, 1951) served as United States Comptroller General from 1998 to 2008, and is founder and CEO of the Comeback America Initiative (CAI) from 2010–2013.

In the national press, Walker has been a vocal critic of profligate spending at the federal level. In Fortune magazine, in 2008 he warned that "from Washington, we'll need leadership rather than laggardship".[11] In another op-ed in the Financial Times, he argued that the credit crunch could portend a far greater fiscal crisis;[12] and on CNN, he said that the United States is "underwater to the tune of $50 trillion" in long-term obligations.[13]

He compared the thrift of Revolutionary-era Americans, who, if excessively in debt, would "merit time in debtors' prison", with modern times, where "we now have something closer to debtors' pardons, and that's not good".[14][15]

In the fall of 2012, the Comeback America Initiative led a campaign called the "$10 Million a Minute" Bus Tour. The tour covered about 10,000 miles and stopped at universities, technical colleges, businesses, and more in over a dozen states. The tour's goal was to bring national attention to the economic and fiscal challenges that face our nation and various nonpartisan solutions that should be able to gain bipartisan support.

Along with former Fed Vice Chairman Alice Rivlin, Walker danced the Harlem Shake in a video produced by The Can Kicks Back, a nonpartisan group that attempted to organize millennials to pressure lawmakers to address the United States' then $16.4 trillion debt.[16]

https://en.wikipedia.org/wiki/David_M._Walker_(U.S._Comptroller_General)#Campaign_for_fiscal_responsibility

I thought the national debt was important back around 2012 when David Walker was making his nationwide tour on potential negative long term consequences of the US deficit.

Most were thoroughly convinced the deficit would have zero impact on their quality of life. Despite coverage from many big name publications and media sources, people choose to ignore the warning signs.

[Moneyprism]

if you can say,, there are many factors that cause this, one of which is an incompetent president ... Biden with his lazy ass is too focused on things that are not important and does not care about its citizens .. even though there are many things that should be resolved in America, but he chose to manage the war in ukraine..

[Poker Player]

With a political system that rewards politicians for short-term actions and does not hold them accountable for the results of long-term actions, as also happens in banking. In general, humans tend to overestimate short-term risks and underestimate long-term risks, and this also influences the way we vote.

Once we are in the hole, we have continued to print more and more, because stopping printing leads to short-term problems, although continuing to make the hole bigger also causes problems, in this case more in the long term, but I think we are approaching what was the long term some time ago.

[davis196]

How did the USA get there?
1.Expensive wars in Iraq and Afghanistan(during the Bush and Obama administrations)
2.Paying off for the "too big to fail" banks and corporations during the 2008-2011 financial crisis.(the Obama administration spent around 5 trillion dollars).
3.Owning the "global money printing machine",since the US dollar is the global currency.
4.Lowering the taxes during the Trump administration.
5.Keeping the interest rates really low(or negative).
6.Allowing the rich and the big corporations to avoid taxation by using offshore companies.
7.Refusing to cut federal costs,because the voters are going to vote for the other party.

There's no point of having a balanced federal budget,since you could print all the money you want.

[TheNineClub]

Us National Debt : 30,362,719,000,000 USD

Debt per citizen : 91,238 USD

Debt per taxpayer : 242,500 USD

Defense /Wars: 724,204,518,000 USD

Waste/Fraud/Abuse: 143,777,927,000 USD

Total Debt to GDP Ratio:139%

Us Trade deficit China : 368,906,488,000 USD

Us Homeless: 593,214

Us Millionaires: 22,121,766

$to Crypto Ratio 2013: 9,523 to 1

$to Crypro Ratio Now : 9.98 to 1

Well, it all started in Africa when our ancestors decided to evolve into the next phase of humanity, and yada yada yada, we have capitalism. You are welcome But in all seriousness, you don't have to look further than the current capitalistic system to see it eating itself. Not to get into economics itself (because others would do it much better), but today's modern societies favor the individual over the collective, and Capitalism thrives on those principles. However, thriving does not mean it's sustainable.

[kryptqnick]

I've always been stunned by the attitude toward loans and debts in the US, both on the level of the country and individuals. Taking a loan, living a lot of life in debt seems rather common there (student debt, mortgage, etc.). And the US also doesn't bother with its external debt, even though it's very high and is getting even higher. It's also very unfortunate that the distribution of wealth doesn't work even in the wealthiest countries, and some people don't have their basic needs covered, while there are people who have enough money for a few lifetimes.
As for Bitcoin, I'm not sure what this ratio shows and how it's calculated. Is it market capitalization of Bitcoin (or the total crypto market)? In any case, the industry is growing, and doing so at a very impressive rate.

[Silberman]

With a political system that rewards politicians for short-term actions and does not hold them accountable for the results of long-term actions, as also happens in banking. In general, humans tend to overestimate short-term risks and underestimate long-term risks, and this also influences the way we vote.

Once we are in the hole, we have continued to print more and more, because stopping printing leads to short-term problems, although continuing to make the hole bigger also causes problems, in this case more in the long term, but I think we are approaching what was the long term some time ago.

This, politicians do not care about the long term since all their goals are short term, they need to get elected and to keep the power they have gotten, while at the same time they try to increase it even further, so it does not matter if they have to print money and create inflation or indebt the country, as long as the system does not collapse on their watch then they do not think of themselves as directly responsible for what happened, so they just kick the can over and over again and hope the collapse does not happen on their watch, the issue is that we cannot kick the can that much further and it seems we are close to the point in which we will have to begin to pay the consequences of their actions.

[dark1234]

With a political system that rewards politicians for short-term actions and does not hold them accountable for the results of long-term actions, as also happens in banking. In general, humans tend to overestimate short-term risks and underestimate long-term risks, and this also influences the way we vote.

Once we are in the hole, we have continued to print more and more, because stopping printing leads to short-term problems, although continuing to make the hole bigger also causes problems, in this case more in the long term, but I think we are approaching what was the long term some time ago.

This, politicians do not care about the long term since all their goals are short term, they need to get elected and to keep the power they have gotten, while at the same time they try to increase it even further, so it does not matter if they have to print money and create inflation or indebt the country, as long as the system does not collapse on their watch then they do not think of themselves as directly responsible for what happened, so they just kick the can over and over again and hope the collapse does not happen on their watch, the issue is that we cannot kick the can that much further and it seems we are close to the point in which we will have to begin to pay the consequences of their actions.

State debt increases or decreases depending on the leader of the government - the president - how to prevent inflation from happening of course, with an established economic level in society but unfortunately the president's policy prioritizes diplomatic relations between foreign and domestic politics so that to anticipate
to make  growth the economythe and defense of the country looks good in his era is by printing more money and increasing debt without taking into account the long-term situation

[ariinv]

With a political system that rewards politicians for short-term actions and does not hold them accountable for the results of long-term actions, as also happens in banking. In general, humans tend to overestimate short-term risks and underestimate long-term risks, and this also influences the way we vote.

Once we are in the hole, we have continued to print more and more, because stopping printing leads to short-term problems, although continuing to make the hole bigger also causes problems, in this case more in the long term, but I think we are approaching what was the long term some time ago.

This, politicians do not care about the long term since all their goals are short term, they need to get elected and to keep the power they have gotten, while at the same time they try to increase it even further, so it does not matter if they have to print money and create inflation or indebt the country, as long as the system does not collapse on their watch then they do not think of themselves as directly responsible for what happened, so they just kick the can over and over again and hope the collapse does not happen on their watch, the issue is that we cannot kick the can that much further and it seems we are close to the point in which we will have to begin to pay the consequences of their actions.

State debt increases or decreases depending on the leader of the government - the president - how to prevent inflation from happening of course, with an established economic level in society but unfortunately the president's policy prioritizes diplomatic relations between foreign and domestic politics so that to anticipate
to make  growth the economythe and defense of the country looks good in his era is by printing more money and increasing debt without taking into account the long-term situation

Government pumped a large amount of Money as quantitative ease before and during the pandemic , it was a reckless act and all went toward speculation in bonds, stocks and FOREX rather than going to durable investment!

[Cnut237]

With a political system that rewards politicians for short-term actions and does not hold them accountable for the results of long-term actions, as also happens in banking.

Yes, indeed. And as also happens in normal shareholder capitalism. CEOs and directors strip out whatever costs they can get away with, increasing the share price in the short-term, then take a big fat bonus for their "success" and move on to the next company before the shit hits the fan. Rinse* and repeat.

I'd be interested to hear your opinions on stakeholder capitalism, although I suspect as usual we'd be diametrically opposed.







* thoroughly, with a good detergent. Application of a dedicated stain-removal product may also prove beneficial (as would switching off the fan).

[BIT-BENDER]

Well even if US is amongst the few world power I would still say that it if it’s Citizen concern, and many like me really don’t understand it that much, the little I know is that the current government are going against what the previous government which many taught is a bad government, I believe all this has altered the balance of the US economically but still after all this US is still amongst the top economically blessed nations and I hope they can do something about their current situation.

[ololajulo]

This, politicians do not care about the long term since all their goals are short term, they need to get elected and to keep the power they have gotten, while at the same time they try to increase it even further, so it does not matter if they have to print money and create inflation or indebt the country, as long as the system does not collapse on their watch then they do not think of themselves as directly responsible for what happened, so they just kick the can over and over again and hope the collapse does not happen on their watch, the issue is that we cannot kick the can that much further and it seems we are close to the point in which we will have to begin to pay the consequences of their actions.

That why I prefer the UK parliamentary system of Government. Is not perfect but better and capable of sustainable national development, the political system should also be able to brood leaders. Like Germany, Higher employers of labor should be involved in Governing and those processes can give leaders with convincing track record.

[teosanru]

Very Interesting statistics to be honest, But a very big question which comes to mind of every taxpayer is that is National Debt that big trouble for any country? Generally, the economists believe if the total expenditure going towards repayment of interest on such national debt doesn't exceeds 10-15% of the overall expenditure country is generally said to be pretty strong on it's debt, I am sure this number isn't that high in the US as well, all the repayments of old debt is obviously going to be by taking up new debts or issuing new bonds so only trouble for government to maintain the economy is the interest payments, so my question is that is national debt really that big a problem for any country until the expenditure on interest payments is under control?

[Agbe]

Us National Debt : 30,362,719,000,000 USD

Debt per citizen : 91,238 USD

Debt per taxpayer : 242,500 USD

Defense /Wars: 724,204,518,000 USD

Waste/Fraud/Abuse: 143,777,927,000 USD

Total Debt to GDP Ratio:139%

Us Trade deficit China : 368,906,488,000 USD

Us Homeless: 593,214

Us Millionaires: 22,121,766

$to Crypto Ratio 2013: 9,523 to 1

$to Crypro Ratio Now : 9.98 to 1

Your analysis is very much interesting and I appreciate your statistic presentation of data. But there are two major things i found out that is missing from
Your thread. The first one is that, the title of your thread is quit different from the content. I was thinking that you are asking the means or ways in which each individual user came or discovered this great platform.  If I will give or suggest, I might say, " USA National Debt System".

Some users are taking preference government from op analysis of debt system. Some take  UK system, some are technically blaming the Political elites. As for me, no system is the best to manage Debts. But the individuals who are in the government is create heavy tax to his citizens for their own interests.

[Gyfts]

https://fred.stlouisfed.org/series/GFDEBTN

USD has been on the decline for years. See the above chart. I'd caution that debt is not the entire context. Debt isn't actually a bad thing as long as the potential for economic growth is there. If you have reasonable projections, you can take on the debt for future earnings. So really, this chart alone is not indicative of the full picture or represents an inherent flaw with USD. The issue is that the spending has not kept up with the economic growth, and that's before COVID. Factor quantitative easing into a slow economy, you have high inflation in conjunction with large amounts of debt. Sounds like a sinking ship, doesn't it? Well, most people would agree, which is why many countries are lowering their USD holdings and swapping them out for other assets that don't pose so much risk.

Post COVID was really the point of no return, where the money printer was put in place of a thriving economy. The printer can only run for so long before the currency produced is so highly saturated that people realize it's just paper and not worth anything valuable.

[bustabitsboy]

if you can say,, there are many factors that cause this, one of which is an incompetent president ... Biden with his lazy ass is too focused on things that are not important and does not care about its citizens .. even though there are many things that should be resolved in America, but he chose to manage the war in ukraine..

It's much more interesting. I don't think he can do anything in his country. I really regret that people made such a choice for themselves. If this continues for a few more years, the graph will only move down. I do not see good performance for  country in the near future. What he does is like convulsions before death.

[ariinv]

Us National Debt : 30,362,719,000,000 USD

Debt per citizen : 91,238 USD

Debt per taxpayer : 242,500 USD

Defense /Wars: 724,204,518,000 USD

Waste/Fraud/Abuse: 143,777,927,000 USD

Total Debt to GDP Ratio:139%

Us Trade deficit China : 368,906,488,000 USD

Us Homeless: 593,214

Us Millionaires: 22,121,766

$to Crypto Ratio 2013: 9,523 to 1

$to Crypro Ratio Now : 9.98 to 1

Your analysis is very much interesting and I appreciate your statistic presentation of data. But there are two major things i found out that is missing from
Your thread. The first one is that, the title of your thread is quit different from the content. I was thinking that you are asking the means or ways in which each individual user came or discovered this great platform.  If I will give or suggest, I might say, " USA National Debt System".

Some users are taking preference government from op analysis of debt system. Some take  UK system, some are technically blaming the Political elites. As for me, no system is the best to manage Debts. But the individuals who are in the government is create heavy tax to his citizens for their own interests.

“ Money not only “makes the world go round, but also wrecks the world in the process. The huge debt accumulated by third world countries, unemployment, environmental degradation, the arms build-up and proliferation of nuclear power plants are related to a mechanism which keeps money in circulation: Interest and compound interest . This is according to economic historian John L. King is the “invisible wrecking machine” in the all so-called free-market economies!

[Johnyz]

if you can say,, there are many factors that cause this, one of which is an incompetent president ... Biden with his lazy ass is too focused on things that are not important and does not care about its citizens .. even though there are many things that should be resolved in America, but he chose to manage the war in ukraine..

It's much more interesting. I don't think he can do anything in his country. I really regret that people made such a choice for themselves. If this continues for a few more years, the graph will only move down. I do not see good performance for  country in the near future. What he does is like convulsions before death.

There’s a big role for the president here and yet, It looks like Biden is not good on making such decisions and the result are a big disappointment to many. We all get there for some bigger reason, and maybe this is still the effect of post Covid response where this country printed so much money. There’s a lot of affected countries as well because of this, and maybe for the rest of the term of Biden, the economy won’t rise that much so we all have to bear this kind of economic situation and let’s expect for more worse.

[Hydrogen]

It could be important to remember that the european union and other nations of the world carry debt as well.

Some european nations carry debt to GDP ratios, which many are unaware of and would not find pleasant if they knew the statistics. (On the opposite end of the spectrum, russia currently has a good debt to GDP ratio.)

Addressing debt could be an important and integral aspect to maintaining the relative stability of european and asian regions.

If Putin observes european nations with strong economies and low debt, he is less likely to invade. If however he sees high debt and struggling economies, he may do the opposite.

But perhaps these basic points are better left unwritten as many appear determined to not want to acknowledge them.