US National Debt：30Trillion

[hualushui]

https://www.usdebtclock.org/

 

[Get Ya Wig Split]

GDP is at 25 Trillion so not a big deal loser op.

 

[nang2]

GDP is at 25 Trillion so not a big deal loser op.

That is how US government can rack up so much debts in such a short time. You guys are so lenient. Where is the spirit of "Tax Enough Already"?

 

[TigerOfMysore]

GDP is at 25 Trillion so not a big deal loser op.

Debt to GDP ratio is not good. It is 148%.
The reason why this is not a concern (large debt) is the reserve currency status of the dollar (the demand for US paper). That is what allows these massive debts to happen, without a shock to the system. US Debt is still considered one of the safest and liquid sovereign instruments for investments. If for some reason we see a slow down of treasury market purchasing - then things might get harder. But there too the US has enough allies in Europe and Japan as well as GCC to soften that blow and make up for any cooldown.
The US economy has many shock absorbers. Nevertheless the US needs to bring some fiscal balance to its house because too many of those shock absorbers are being tested, which historically was not the case. Taxes have to go up and entitlement programs will need to be cut - there is not way around that.

 

[nang2]

That is what allows these massive debts to happen, without a shock to the system.

That requires cooperation from US debt purchasers, which nowadays are less and less confident in US. More people see more recklessness in US government to abuse US debt owners for its own benefit. I, for one, am reducing my debt position.

 

[dBSPL]

The 2020 Long-Term Budget Outlook

CBO presents its projections of what federal deficits, debt, spending, and revenues would be for the next 30 years if current laws governing taxes and spending generally did not change.

www.cbo.gov

 

[fitpOsitive]

GDP is at 25 Trillion so not a big deal loser op.

Just pay that back then, achievers.

 

[TigerOfMysore]

The 2020 Long-Term Budget Outlook

CBO presents its projections of what federal deficits, debt, spending, and revenues would be for the next 30 years if current laws governing taxes and spending generally did not change.

www.cbo.gov

This graph is very troubling. BTW those that are cheerleading the US demise, have not thought through the implications on every level. It wont be a pretty polka dots and unicorn world if the US slides from its power dominance. People's emotional reaction of thumbing the big guy on the block may feel good in the short run, but will make for a very choppy world to say the least. I just wished China and the US somehow managed to find a way to get together and compete fairly.

 

[nang2]

This graph is very troubling. BTW those that are cheerleading the US demise, have not thought through the implications on every level. It wont be a pretty polka dots and unicorn world if the US slides from its power dominance. People's emotional reaction of thumbing the big guy on the block may feel good in the short run, but will make for a very choppy world to say the least. I just wished China and the US somehow managed to find a way to get together and compete fairly.

Only when everyone takes the responsibility for his own actions, we could call it fair. So, if you wish some fairness, pray that Americans pay for the consequences of their government's reckless money printing.

 

[HttpError]

Wait until paper money replaces toilet paper, Bitcoin and Ethereum is the answer.

 

[nang2]

Wait until paper money replaces toilet paper, Bitcoin and Ethereum is the answer.

No, they aren't. Have you even used them for regular transactions?

 

[HttpError]

No, they aren't. Have you even used them for regular transactions?

Hundreds of times if not thousands.

 

[nang2]

Hundreds of times if not thousands.

How long did each transaction take to settle? And compare that with the transaction using regular paper money.

 

[GumNaam]

GDP is at 25 Trillion so not a big deal loser op.

$25 trillion my foot, it's not even $23 trillion.

the 2 to 3 trillion difference is bigger than some continents (combined). and the national debt is breaking $30 trillion.

I ain't payin' for that shit with my tax money!

 

[Skull and Bones]

Just pay that back then, achievers.

Do you know the terms and condition of these debts, and who are holding them?