Is USA going to be Defaulter in Next 20 Years?

[Anonymous]

USA is going through Recession, US stands 13th Rank in Terms of Foreign Reserves but if you see External Debts then US stands No #1 in that List..... So if US economy Suffers than It can Go Bankrupt like Srilanka or Pakistan in Few Years?

US have External Debts of $ 31 trillion and US have only 242,699 Millions in its Foreign Reserve... So US can do Bankrupt & Defaulter in Future?

Wikipedia : Reference

https://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjc8-fDyLD9AhUn7zgGHVU3BzUQFnoECCIQAw&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FList_of_countries_by_external_debt&usg=AOvVaw11CAi1npd-y0KnISLmJXra

https://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwizvb_0x7D9AhXI7TgGHdoDCPUQFnoECCAQAQ&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FList_of_countries_by_foreign-exchange_reserves&usg=AOvVaw0WHNd8ObNjoGOdLswCG7ZH

Countries having Max External Debt

Counties having Max Foreign Reserve

@Leopard23 What you have to Say?

Updates

+1 y

@Leopard How soon or By what time US will be become Bankrupt and Defaulter? ( Data and references are above, You can check 100 sites but data will be the same )

[goaded]

Only if Republicans refuse to pay their debts and fail to raise the debt ceiling. It's all money that the government has voted to spend, it shouldn't be subject to a second vote. (And, yes, the only party willing to even consider this is the Republican party.)

There's absolutely no need for the US government to default, theirs is the go-to currency and they can "print" as much as they like. Bear in mind, though, that the pound sterling used to be worth $4 and was the secure global currency.

[exitseven]

Most of this money is owed to China. Since it was China that caused the Covid pandemic which resulted in multi trillion dollar damages the US can just take the deficit as a down payment. That is if we had a President that wasn't on the Chinese payroll.

[Asker]

Who you want to blame to? Can you take name?

[abc3643]

No.
Most of this money is owned by Americans.
This is documented at Federal Government websites.

[Asker]

@abc3643 I had Read / Heard US has to Pay lots of Money back to China ( If they ask for )

[abc3643]

Let me teach you about the real world...
In the real world, when the big guy owes you money, he pays you when he wants to pay you, not when you "demand it".

All this worry about debt is horseshit.
Furthermore, if the GOP really wanted to do something about it - which they never do when they are in power because, instead of paying off debt, they want tax cuts. That's exactly what happened when Bush 43 became President because, at the end of the Clinton years, the US government was operating at a surplus. But Bush said "That money belongs to the people; we need to give it back to them." when he should have been paying down debt. But he didn't because paying down debt is not nearly as appealing to voters as is getting free money from the government which he said he'd do during the 2000 Election campaign.

And then we got into never-ending war because of 9/11 although the Iraq war was pointless and a glorious waste of money and added debt. It wasn't "war for oil" as some liberals bitched about. It was a "Family Feud" because Iraq's leader Saddam Hussein tried to have Bush 41 assassinated in response to Iraq's defeat in Operation Desert Storm in 1991. So, 9/11 gave Bush 43 and plausibly legitimate reason to take out Saddam.

[abc3643]

A bit of advice:

A lot of people in this world say a lot of thing, but many people don't know their ass from their elbow, so they just echo idiocy and cite authorities who really aren't authorities or in a position to know.

So, learn to do "due diligence" which means hunting down the objective sources of true information.

For example, we worried about the "national debt" and who is owed money, right?
Well, in the world of finance, someone who is owed money is called a "creditor".

So, I just Googled:
national debt creditors

The second hit comes directly from the US Treasury - the people who are responsible for the debt. Thus, they are the source of what the debt actually is and who we owe it to. All the other "authorities" or pundits ultimately get their info from "Treasury", so why not you too - then you can learn on your own and make up your own mind instead of being told by others what "the truth" is.

(more)

[abc3643]

Understanding the National Debt U. S. Treasury Fiscal Data
fiscaldata.treasury.gov/.../

As of today, the national debt is:
$31,458,344,513,051

Of that debt, about $24.58 trillion is owed to "the public". The rest is money is called "Intragovernmental Holdings", a fancy way of saying money that the government owes to itself.
=====
Intragovernmental Holdings
These comprise debt that one part of the U. S. Federal Government owes to another part. This represents cases where Social Security, Medicare, and other federal programs collect more revenue than they need in a year and then purchase Treasury debt for their trust funds.
=====

The public debt is debt owed to anybody else who is not the government.
Again, that's about $24.58T.

So, how much of that is owed to China?
In December 2022, the last month on file, that part of the national debt owed to China is $867.1B
(We owe more to Japan.)

So, as a fraction of the national debt owed to "the public", China is:
("G$ = "gigadollars"... billions of dollars; T$ = "teradollars"... trillions of dollars, 1T$ = 1000G$)

867.1 G$ / 24.58 T$ = 867.1 G$ / 24580 G$ = 867.1/24580 = 0.03528

In other words, about 3.5% of the US PUBLIC national debt is owed to China.
When looking at overall debt, it is smaller.
867.1 G$ / 31.458 T$ = 867.1/31458 = 0.02756
or about 2.8%.

That's it.

That's how you do due diligence.

As you see, the sky isn't falling.

To learn more...
fiscaldata.treasury.gov/.../summary-of-treasury-securities-outstanding

[abc3643]

Oh, one more thing:

The total amount of the national debt owed to foreign governments in DEC 2022 was 7.314 T$.
So, as a fraction of public national debt...
7.314 T$ / 24.58 T$ = 0.29756 or about 29.8%.
That means the rest of public national debt, about 70%, is owed to everybody else.

As a fraction of all national debt:
7.314 T$ / 31.458 T$ = .0.2325 or about 23.3%

This chart may help; it comes from Pew and they are a very trustworthy source.



That "intergovernmental holdings" are the four small rectangles in the lower right.
We should be able to infer that total from what I wrote above:
31.458 T$ (total) - 24.58 T$ (public) = 6.878 T$ (intergovernmental)

The chart has:
2.8 T$ Social Security
1.2 T$ Military Retirement
1.0 T$ Civil Service Retirement
1.6 T$ Other
Add that up...
6.6 T$

So, it's about the same as I computed elsewhere; the differences like due to rounding and when the data was collected.

Now, look at those first 3 intergovernmental numbers...
That's a total of 5 T$ ultimate to Americans in retirement.
Think about that; that's 5 T$ owed to Americans just for retirement.
But we owe China 0.8671 T$.
5 / 0.8671 = 5.76635
That means we owe American retirees over 5.76 times the amount we owe China.
But that's just American retirees from Social Security or working for the government!
So much of the rest of the public debt is owed to people through simple investing.

After all, THE UNITED STATES FEDERAL GOVERNMENT IS THE SAFEST INVESTMENT ON EARTH.
Why do you think countries buy securities (US Treasury bonds, etc) from the Federal Government and not from, say, the government of Mali? It's because the US is a safe bet to make money on your investment because it's been stable for over 230 years. In Mali or other 3rd world countries, you could have a revolution next week.

[abc3643]

Pew Research Center
February 14, 2023
5 facts about the U. S. national debt
www.pewresearch.org/.../

[exitseven]

Thanks for the MHO😎

[Babygirl_S]

This guy @leopard23 is a racist idiot.

[Asker]

@babygirl_s I know he is a Racist, Hater and Moron and the more he hates, The more I Annoy him 😎🤣

[Asker]

You can see my other question

Balakot Airstrike on Pakistan , What do you think, Can USA ever " DARE " to do this Against China, what India Had done in 2019 against Pakistan? ↗

[Babygirl_S]

Thanks for the MHO!

[Asker]

Sure, sister 🙏

[Anonymous]

It's because the US is always giving money to the entire freaking world when we can't afford it. We should be spending that money in this country instead of Ukraine or the UN. If we don't pay, what the hell is the world going to do? Nothing.

[Asker]

Why Biden throwing $$ on Ukraine? what if US faces lacks of Funds then will Ukraine Pay back?

[Opinion Owner]

Yeah right lol. Biden doesn't care because he and his family are getting rich from Ukraine and China both. It's our money he's spending there after all.

[Asker]

True... but why opposition is quite? And So Donald Trump also Quiet !

[Opinion Owner]

It's because the media has it so that anybody that goes against giving anything to Ukraine is labeled a Putin lover. It's typical corrupt media politics.

[Asker]

Is not Putin, Trump and Kim Jong looks Cute? 🤣

[AmeerX]

US isn't going Bankrupt like you think it will. Not as long as US dollar is the currency of international trade it won't.

[Asker]

@ameerx That's the Point but Now Saudi Arabia, Iran, UAE, Oman, Egypt are no Longer Scared of USA, So they can sell their Oils in any Currency, EVEN INDIA is Buying Cheap Crude OIL from RUSSIA on a discounted Price in " Inidan Rupees or in Russian Rubel "

China is Already want to set up Payment in its on Currency Yuwan...

So I think US's dollars GAME is Going to OVER SOON !!!

[AmeerX]

Game over vs wishful thinking is two different things. Do you honestly believe all the immigrants inertia with so many people still wanting to get the green card and education from Canada US, UK and Australia vs rest of the world is going to let it all go?

[Asker]

See, Few People who wants to settle in US/Aus are only 4 % to 5% from the Population of their own country... for example India has 1.4 Billion People and even not 1 % people live in US/UK/AUS... So Rest of 99% People have No Issue if USA goes Bankrupt 🤷‍♀️

Similarly this is True for any country ! Also World Politics, National Interest and Global Conflicts are also other Factor !

Now these days, Iran---China---UAE making a Group and it will Naturally work Against US interest

[AmeerX]

1% people but are those 1% people from common background? Or are they people with deep roots in bureaucracy?
Look it's not simple. New World Order takes many decades to establish. US is not going down without a fight. UK Empire remained in influence even till the 2000s

[abc3643]

I guess my opinion was removed by @trackboy because he didn't like it.

Sounds like a Fox viewer alright.

[Sevenpointfive]

i don't know about 20 years. i'm very worried for all countries

[Dargil]

Less than 10 if 2024 goes Democrat.

[Asker]

whom will you vote?

[Dargil]

That would be "(for) whom will you vote?"
or
"whom will you vote for?"

Many choices can emerge. Trump. DeSantis, Scott (SC), Vivek Ramaswamy and unknowns.

[Anonymous]

Yes, that would not surprise me at all.

[Asker]

You are saying because of the data of External Debt $31 Trilions?

[Opinion Owner]

Correct.

[Leopard23]

India is set for major economic collapse.