National Debt

[Big Empty]

$28.5 trillion. We can point fingers all day on how we got here but that doesnt solve anything. Our currency isnt backed by anything but the full faith and credit of the US government. In my line of work, investors are more & more concerned about inflation and the devaluation of the dollar. Most are inquiring about investing in gold, silver & crypto. What steps will our government have to take to reverse this trend and what impact will it have on everyone?

Im president everyone would hate me, lol, here is where i’d start:
1. Raise taxes, we want to live in the Dominion but we pay south Zarzamora taxes
2. Reduce the defense budget from $750 billion to $400 billion. We would still spend more than Russia & China combined.
3. Finish the wall and renewed focus on all illegal immigrants not just the southern border, but the h1 visa overstays. You could go back to the 1950s debates and u will find the candidates talking about our immigration problem. There was one before most of us were born, there will always be one. But we do spend billions on this issue also. We spend more on interest on our national debt than the immigrants cause us think about that. But it still cost us a great deal.

before the pandemic we were taking in $4 trillion and spending $5. Gutting social security/medicare just isnt in the plan since so many Americans have paid into it all of their lives. What do yall suggest?

[Isitjustme?]

Ah, a Democrat is president...time to care about the national debt again

[Thanos]

$28.5 trillion. We can point fingers all day on how we got here but that doesnt solve anything. Our currency isnt backed by anything but the full faith and credit of the US government. In my line of work, investors are more & more concerned about inflation and the devaluation of the dollar. Most are inquiring about investing in gold, silver & crypto. What steps will our government have to take to reverse this trend and what impact will it have on everyone?

Im president everyone would hate me, lol, here is where i’d start:
1. Raise taxes, we want to live in the Dominion but we pay south Zarzamora taxes
2. Reduce the defense budget from $750 billion to $400 billion. We would still spend more than Russia & China combined.
3. Finish the wall and renewed focus on all illegal immigrants not just the southern border, but the h1 visa overstays. You could go back to the 1950s debates and u will find the candidates talking about our immigration problem. There was one before most of us were born, there will always be one. But we do spend billions on this issue also. We spend more on interest on our national debt than the immigrants cause us think about that. But it still cost us a great deal.

before the pandemic we were taking in $4 trillion and spending $5. Gutting social security/medicare just isnt in the plan since so many Americans have paid into it all of their lives. What do yall suggest?
lol you didn’t give a shit about any of this while Trump was president, but magically now these are huge concerns, and :cry don’t point fingers :cry

[Thanos]

Also 2 trillion of that got wasted in Afghanistan, so maybe point a finger at this asshole:

https://www.telegraph.co.uk/multimedia/archive/01112/mission_accomplish_1112950c.jpg

[Thread]

Also 2 trillion of that got wasted in Afghanistan, so maybe point a finger at this asshole:

https://www.telegraph.co.uk/multimedia/archive/01112/mission_accomplish_1112950c.jpg

And at the twins Hussein & mother fucker Biden.

[Thread]

lol you didn’t give a shit about any of this while Trump was president, but magically now these are huge concerns, and :cry don’t point fingers :cry

I want the 600 smackers x 2 that mother fucker Biden stole, Thanos.

[pgardn]

Our currency isnt backed by anything but the full faith and credit of the US government. In my line of work, investors are more & more concerned about inflation and the devaluation of the dollar. Most are inquiring about investing in gold, silver & crypto.

This is starting to come more apparent to me based on the wild nature of cryptocurrency and now anything considered of value: What is the dollar, or any other currency backed by? So the traditional haven is gold. Why? Can you eat it, does it sustain you somehow, why? Because there is a market I think. Why is there a market for this stuff, because its rare, what can you do with it? Jewelry, electronics... uhmmm?

So really there just has to be a market for something to be able to back a government and a currency. Am I off here? And markets for this object, whether real or some digital mark, change and have moving worth as well based on people's perception of how trustworthy and desirable that something is perceived to be.

So basically you are saying the US Treasury Bill is to become worthless or greatly devalued. Yet countries around the world trust our country's "backing and faith of the US government" more than any other. Its transparent and run by a market. So the gold crazy people have always worried, but the same thing happens with their "safe haven". It goes up in price when the market for the T bill and faith in the US government wains. They buy their gold, less of it (or at higher price) and then when the tide turns on the market of the faith and backing of the T-bill returns they eat their gold? No one ever talks about how much people set themselves back moving into "safe havens" and then re entering another market with their gold sell off. its always happy days. No investor has ever made a mistake on this board as far as I can read.

So in conclusion the T bill and the faith and backing of the US government, because of the clarity and market of the T bill, has been the way the world goes. Is there to be a calamitous collapse? Are you perhaps referring to the tenuous hold that our government actually has after the Capitol was attacked? I can see how a bananas type republic reaction with one giant party of two denying the gravity of the situation might give people pause about our governments ability.

There are a whole lot of countries accumulating debt because of this virus and associated business problems. But I dont think people are going to go running into the Chinese market because of their government backed anything. Russia, enter their full faith and credit, they have the economy size of California and there is no faith.

So tradition says retreat into gold, but then mention something as new and a volatile as cryptocurrency. I can see the T bill doing just fine per usual? Im not an investment expert obviously, but this is weird stuff. I also never understood why commercials work on the consumer, so based on just that misjudgment about people I guess my questions are silly.

[Winehole23]

LOOK, A BIG NUMBER

is not an argument related to necessity or plausibility.

[Winehole23]

a trillion here, a trillion there, pretty soon we're talking about real money

[ElNono]

Since the debt held is in US dollars, inflation is pretty much the only way that debt get liquidated. However, that makes us economically less competitive against the rest of the world.

There has been some inflationary pressure, but that was expected during the pandemic due to reduced output and logical scarcity that follows.

I would be concerned about this if we don't go back to 2%-3% inflation rate after the economy is swinging again. Too early right now.

[SnakeBoy]

1. Raise taxes, we want to live in the Dominion but we pay south Zarzamora taxes


On the middle & lower income yes. This can be achieved in a roundabout way by taxing goods/services which will allow the political class to say it's not us.



2. Reduce the defense budget from $750 billion to $400 billion. We would still spend more than Russia & China combined.


If we withdraw from our role a global security guarantor and let the Old World solve Old World problems then yes this makes sense. America First.



3. Finish the wall and renewed focus on all illegal immigrants not just the southern border, but the h1 visa overstays. You could go back to the 1950s debates and u will find the candidates talking about our immigration problem. There was one before most of us were born, there will always be one. But we do spend billions on this issue also. We spend more on interest on our national debt than the immigrants cause us think about that. But it still cost us a great deal.



We need to keep stealing other countries youth for cheap unskilled labor a little while longer tbh

[Adam Lambert]

3. Finish the wall and renewed focus on all illegal immigrants not just the southern border, but the h1 visa overstays. You could go back to the 1950s debates and u will find the candidates talking about our immigration problem. There was one before most of us were born, there will always be one.

Candidates were beating the fear drum over foreigners in 1950? You don't say!

[Spurtacular]

Blue Santa Faggs with a standard distraction. :lol

[ElNono]

Ah, a Democrat is president...time to care about the national debt again

To be fair, it's the only party that actually has been doing anything about it, instead of just talking about it. The last two GOP administrations have been absolutely terrible when it comes to the economy.

Dubya with his wars and the subprime crisis passed on a completely bankrupt economy, and Trump was doing well riding Obama's economy until the pandemic came about, then also passed a completely shot economy.

Hopefully Old Joe can rescue things again so the next Republican can destroy it again, tbh...

[RandomGuy]

$28.5 trillion. We can point fingers all day on how we got here but that doesnt solve anything. Our currency isnt backed by anything but the full faith and credit of the US government. In my line of work, investors are more & more concerned about inflation and the devaluation of the dollar. Most are inquiring about investing in gold, silver & crypto. What steps will our government have to take to reverse this trend and what impact will it have on everyone?

Im president everyone would hate me, lol, here is where i’d start:
1. Raise taxes, we want to live in the Dominion but we pay south Zarzamora taxes
2. Reduce the defense budget from $750 billion to $400 billion. We would still spend more than Russia & China combined.
3. Finish the wall and renewed focus on all illegal immigrants not just the southern border, but the h1 visa overstays. You could go back to the 1950s debates and u will find the candidates talking about our immigration problem. There was one before most of us were born, there will always be one. But we do spend billions on this issue also. We spend more on interest on our national debt than the immigrants cause us think about that. But it still cost us a great deal.

before the pandemic we were taking in $4 trillion and spending $5. Gutting social security/medicare just isnt in the plan since so many Americans have paid into it all of their lives. What do yall suggest?

Ah. On schedule, a Democrat is president, and we care about the debt again.

If the debt were an actual problem, the interest the US government pays would be higher.

Think about that. Take all the time you need.

[RandomGuy]

I guess he did.