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

[Hamartia Antidote]

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 .....

Well remember everybody who comes off the boat with nothing in their pockets or grew up thinking school was a waste of time 'deserves' a decent standard of living no matter how little their abilities are. The mighty government has a duty to bail them out.

 

[somebozo]

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.

the most important fact is that US debt is denominated in USD which itself is the printer..US can print more currency to come out of debt anytime...the US debt is merely numbers in computer..The US can also bomb any debt collector to oblivion..that is why it is said..world war is bankers war..

Well remember everybody who comes off the boat with nothing in their pockets or grew up thinking school was a waste of time 'deserves' a decent standard of living no matter how little their abilities are. The mighty government has a duty to bail them out.

Bail them out so they produce more useless kids living off crack..sorry but I am not for excessive sympathy to the poor unless they voluntarily opt for sterilization. So at least the poverty and welfare dependency does not multiply for several generations...

 

[PAKISTANFOREVER]

the most important fact is that US debt is denominated in USD which itself is the printer..US can print more currency to come out of debt anytime...the US debt is merely numbers in computer..The US can also bomb any debt collector to oblivion..that is why it is said..world war is bankers war..

EXACTLY..............The americans are $20 trillion in debt.........................but in debt to THEMSELVES. Therefore the reality is that they ultimately incur NO LOSSES.

 

[jetray]

the most important fact is that US debt is denominated in USD which itself is the printer..US can print more currency to come out of debt anytime...the US debt is merely numbers in computer..The US can also bomb any debt collector to oblivion..that is why it is said..world war is bankers war..

yup thats what keeps them going. As long as system runs on US dollar no issues. Just change it to gold and see what happens. No more expensive wars or massive screw ups.

EXACTLY..............The americans are $20 trillion in debt.........................but in debt to THEMSELVES. Therefore the reality is that they ultimately incur NO LOSSES.

not necessarily, it is bcos all the bonds are bought by foreigners and hence they can keep printing it. They dont have any fear of inflation bcos world is there to absorb their money. If any other country were to do that their inflation would sky rocket. If you stop using dollars it will stay in US itself which will cause inflation and other problems.

 

[takeitwithyou]

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 .....

Here's a doozy for you. These guys, like China, buy our bonds at such low yields -that at the time of maturity China or others actually lose money in terms of the value of the dollar.

But they don't care in spite of it. Countries that invest know we are rock solid and are the only place they can park their money to be guaranteed of its principle being around.

Well remember everybody who comes off the boat with nothing in their pockets or grew up thinking school was a waste of time 'deserves' a decent standard of living no matter how little their abilities are. The mighty government must bail them out.

Yeah, we should only bail out the highly educated folks, and corporations which have billions of dollars in profits- by rewarding them with permanent tax cuts.

 

[jetray]

But they don't care in spite of it. Countries that invest know we are rock solid and are the only place they can park their money to be guaranteed of its principle being around.

does 2007 crisis ring a bell?

 

[LeGenD]

Much of this debt is due to US department of state bailing out the American banking sector from recession in 2008. And it is not an issue.

 

[nang2]

Much of this debt is due to US department of state bailing out the American banking sector from recession in 2008. And it is not an issue.

Much of the recent increase is due to stimulus plan after rescuing US banks. You don't need trillions to rescue banks.

 

[LeGenD]

Much of the recent increase is due to stimulus plan after rescuing US banks. You don't need trillions to rescue banks.

American banking sector is huge and its collapse would have orchestrated a global deppression the likes of not witnessed before.

Isn't it all related by the way?

Anyways: https://www.google.com.pk/amp/amp.t.../who-really-dug-us-out-of-the-great-recession

 

[gambit]

Is this another one of those 'US collapse' thread ? What is that ? Ten thousandth on this forum ?