The U.S. is now over $20 trillion in debt — here’s how it got there

[dani191]

The U.S. is now over $20 trillion in debt — here’s how it got there
Published: Sept 15, 2017 12:42 p.m. ET



Fighting wars, big tax cuts and economic stimulus packages have all added to the debt burden

By

ROBERTSCHROEDER
FISCAL POLICY REPORTER

The U.S. has exceeded $20 trillion in national debt — the nation was a cool $20.16 trillion in the red as of Wednesday — and now that it’s crossed that mark, get ready for some finger pointing over who’s to blame.

If history shows anything, it’s that both parties share responsibility for boosting the debt. Fighting wars, big tax cuts and economic stimulus packages have all added to the burden over the years.

Here, we’ll take a look at some key moments in the debt’s trajectory until now, and also where it is going.

https://www.marketwatch.com/story/heres-how-the-us-got-to-20-trillion-in-debt-2017-03-30

Related Topics

 

[Tokhme khar]

where ever u boys have been, you just end up busting the place up, and then cut out the back door quick.......lol

Same old gypsy hoodwinking for millenia........lol

 

[AZADPAKISTAN2009]

20 Trillion has 12 zeros

20,000,000,000,000 USD

Just for sake of comparison

World Population = 9 Billion People

• USA could have donated $2,200 USD to every single human on planet, in poor nation this figure is enough to buy food @ rate of 1$/day ~ 2200 days worth of food. Six year of food for whole population of world

• Could have constructed 20 Million hospitals world wide, which are budgetd by 1 Million Dollar

• Could have bought 4 Trillion Big Macs @ discount price of 5 bucks enought to feed every single human for 444 Days 1 meals a day whole planet

Could have hired 250,000,000 Scientist to reseach cancer for 1 years , paid 80,000 USD salary for 1 year. Manhattten project had mere 130,000 for atomic bomb discovery. That 250 million figure is close to Population of Pakistan & Bangladesh combined

Equal to Pakistani Budget for 4,000 Years (If budget was set at around 5 billion mark/year
Note that human written history is no longer then mere 5,000 years. Most people have confusion with history beyond 100 year

 

[Reichsmarschall]

20 Trillion has 12 zeros

20,000,000,000,000,000 USD

you have put 3 extra zeros there

 

[PAKISTANFOREVER]

The U.S. is now over $20 trillion in debt — here’s how it got there
Published: Sept 15, 2017 12:42 p.m. ET



Fighting wars, big tax cuts and economic stimulus packages have all added to the debt burden

By

ROBERTSCHROEDER
FISCAL POLICY REPORTER

The U.S. has exceeded $20 trillion in national debt — the nation was a cool $20.16 trillion in the red as of Wednesday — and now that it’s crossed that mark, get ready for some finger pointing over who’s to blame.

If history shows anything, it’s that both parties share responsibility for boosting the debt. Fighting wars, big tax cuts and economic stimulus packages have all added to the burden over the years.

Here, we’ll take a look at some key moments in the debt’s trajectory until now, and also where it is going.

https://www.marketwatch.com/story/heres-how-the-us-got-to-20-trillion-in-debt-2017-03-30

Related Topics

Debt is always exaggerated. May have 20 trillion debt but is still the world's most powerful and advanced nation with the largest economy. Also, the most scientific and technologically advanced nation ever.

 

[denel]

Debt is always exaggerated. May have 20 trillion debt but is still the world's most powerful and advanced nation with the largest economy. Also, the most scientific and technologically advanced nation ever.

yes but even Rome was tops in its time yet it crumbled. They never learn from history or their own history and repeat the same folly again and again. I say let the US dollar tank finally; it is living off printing lifelife with fudgy economic principles of QE - if any other country would have done it; there would have been massive inflation.

 

[PAKISTANFOREVER]

yes but even Rome was tops in its time yet it crumbled. They never learn from history or their own history and repeat the same folly again and again. I say let the US dollar tank finally; it is living off printing lifelife with fudgy economic principles of QE - if any other country would have done it; there would have been massive inflation.

Till that actually happens we can only speculate.

 

[HannibalBarca]

yes but even Rome was tops in its time yet it crumbled. They never learn from history or their own history and repeat the same folly again and again. I say let the US dollar tank finally; it is living off printing lifelife with fudgy economic principles of QE - if any other country would have done it; there would have been massive inflation.

Thanks God..; Humans keep redoing the same mistakes... or what a Boring world we will be living in... Without experiencing/feeling what our ancestors did...
Evry new generation= New HardDrive...

Without those repeating mistakes... the world will have ended way way back...

 

[TruthSeeker]

USA citizens are living way beyond their means. Root cause is personal selfishness on the part of too large a percentage of the USA population. The only reason this "festival of greed" has gone on so long is that the rest of the world is even more screwed up than we are! Go figure!! Why, oh, why do you "foreigners" out there keep buying our bonds and stocks????? Are you stupid? Or what?! I'm 72 years old, so, I may make it "out the door" before you guys wake up .....

 

[AZADPAKISTAN2009]

The figure is too big for my imagination unfortunately ...

 

[ashok321]

The U.S. is now over $20 trillion in debt

And it (debt) will still grow periodically.
And the US will still prosper.
And the projection of 2050 still stands.
On the podium only 3 countries = China-US-India.
But on per capita, US still a winner.
Where there are sucker there are swindlers.
Out of 206 nations 80% nation's central banks keep the USD in their FOREX kitty as the reserve currency.

IMPEX, 80% of the world trade takes places in the US currency which is routed through the Major US banks with its EXCLUSIVE SWIFT CODE, without which no transactions can be done. Hence on the USD transactions worldwide, the US maintains the VETO. The Russians suffered the most during sanctions on this issue alone plus the Master card & Visa card denials.

The US democracy and the USD is well entrenched in the global system that is unlikely to be thwarted, despite NOT being the LEGAL TENDER. Mr. Nixon de-linked the USD in 1972 from being the legal tender.

The USD rules the world.
And there is no practical alternative perceived to counter it.

 

[AZADPAKISTAN2009]

I see iNdia mentioned in same league just let it go man just let it go

Now that you mentioned world banks keep dollars in their accounts ...hmmm wonder when will they seriously start to think hmmm may be we should convert the cash to a stable platform

Like ..... Gold


Paper is paper ...you can print .... mickey mouse on that paper or put picture of someone , at least Gold is somethig that does not lose value form international Bank's prespective


Dollar bill printed by printer

Gold is made only when Solar system is formed or star explodes before solar system was formed billion of years ago

 

[nang2]

This trend is irreversible. Eventually, US has to face the reckoning. It is not now because all major economies are all printing money to compete with one another.

 

[DJ_Viper]

The U.S. is now over $20 trillion in debt — here’s how it got there
Published: Sept 15, 2017 12:42 p.m. ET



Fighting wars, big tax cuts and economic stimulus packages have all added to the debt burden

By

ROBERTSCHROEDER
FISCAL POLICY REPORTER

The U.S. has exceeded $20 trillion in national debt — the nation was a cool $20.16 trillion in the red as of Wednesday — and now that it’s crossed that mark, get ready for some finger pointing over who’s to blame.

If history shows anything, it’s that both parties share responsibility for boosting the debt. Fighting wars, big tax cuts and economic stimulus packages have all added to the burden over the years.

Here, we’ll take a look at some key moments in the debt’s trajectory until now, and also where it is going.

https://www.marketwatch.com/story/heres-how-the-us-got-to-20-trillion-in-debt-2017-03-30

Related Topics

This is misleading. Just since Trump's inauguration, the US stock market and Real Estate business / market has grown 20-40% (depends on certain sectors). At 20% increase on the lower number, that adds a few trillions easily. So $20T is nothing major for the US. With Trump's new tax reforms, we'd expect another 20-25% growth in pretty much all industries, as well as growth in corporate sectors creating millions of new and higher paying jobs. We are about to witness the biggest boom in the American history since the Reagan administration. Even then the debt was mounting big due to Afghan war and multiple fronts open with Russia and a rebuild of the US military. Nothing we've not done before .

This time, its different, we are cutting our dependencies on the globe, such as the Oil, for one example. We are now the second largest producer of our own oil and the second largest exporter also. Similarly, all across American businesses, we are cutting down our dependencies on foreign stuff, including the stock market. Before, anything happened overseas, especially in the ME, or Japan or China, our markets would drop. Now, they have separated themselves from the globe so overseas issues don't bring anything down. Love the future prospects that I am witnessing by watching various details of how Mr. Trump wants to grow the nation economically.

 

[Trango Towers]

Debt is always exaggerated. May have 20 trillion debt but is still the world's most powerful and advanced nation with the largest economy. Also, the most scientific and technologically advanced nation ever.

And the poorest. I am richer than America as I have zero debt