Note: Please state in your opinion which answer-option letter you selected in this question’s poll.
I think it’s very interesting that the Pink & Blue %’s are very close (within 5%) for 5 of the 7 answer-options.
Note: Please state in your opinion which answer-option letter you selected in this question’s poll.
Voted A - the debt is the greatest threat. However, the answer is more qualified and nuanced than the posted answer implies.
In fact, the debt is a material danger, but - strange as it may sound - it is also symbolic of a broader and more long term danger that is, if anything, actually more alarming than the immediate problem of the debt itself. For in fact, the debt, boiled down to its' essentials, is merely the numerical expression of a cultural tendency.
Namely, the unwillingness of the American people to live beyond their means. To consume more than they produce and of an unwillingness to make choices and accept that, at an irreducible level, governance is about the trade-offs the society must of necessity make.
In the more immediate sense, the national debt is a singular problem. The American public talks a ferocious game against the "establishment" and government and against high taxes. Yet the public that does so has the following profile:
1 in 6 who work, work for government.
1 in 7 is a Social Security recipient - and that will only grow as the population ages. Which given the normal demographic patterns in an industrialized society is inevitable. This meaning, over time, that the workforce will shrink, therefore the tax base will shrink and thus increasing the burden on a declining share of the population.
1/3 of all families, this year, will receive some form of government transfer payment.
On top of all this, the public roars about the taxes they must pay. Yet less than half of all Americans pay ANY Federal income tax - at all. The lion share of the tax burden - and again, this on a declining workforce and tax base - falling on the top 5% of income earners.
Suffice to say, in material terms, over time this will mean a decreasing ability to pay the bills. To sustain a prosperous economy at home and to shoulder the burdens of being a global power abroad. This thus not only endangering the domestic economy, but also increasing the risks that the USA may not be able to cope with the threats it faces on the international stage. Alternatively, that it will have to withdraw from a global role and thus trust its' security to other powers.
Suffice to say, the implications of that last point are enormous. While China and Russia bear their own problems, if they are no longer constrained by the power of the United States and other major Western countries, the threat to the United States will be enormous.
More fundamentally though, debt is - as noted - as much symptom as cause. It is the unwillingness of the society to make choices, accept trade-offs, and meet its obligations. In the process foisting the cost of those failures on to future generations who, perhaps unsurprisingly, because they are yet to be born get no vote.
Choices are being made for future generations - and this meaning that those generations will be left with fewer resources to deal with their own problems. Thus they are condemned to a bleak future in which they get no say.
This is, in effect, the strong eating the weak. This in a society that prides itself on its hard work and compassion. That takes enormous pleasure in patting itself on the back for its' own virtue even as it exhibits less of the self-discipline that is essential to the long term viability of any society and thus of any government that is the product and representative of that society.
Bottom line, Senator Manchin is not wrong. Both in material terms - more debt today means less material prosperity tomorrow - and more importantly, in moral terms. A society that lacks the discipline to reign in its appetites and separate its wants from its' needs and rather foists the costs of those appetites on generations unborn is unlikely to be a viable society over the long run.
@Wade12345 Well, we don't disagree. However, my point was that the debt poses not only narrowly economic issues, but is a symptom of - and also a reinforcing cause of - a deeper moral issue.
The problem at the moment is that American society refuses to make choices. Rather it believes that it is entitled to everything and wants everything and when asked to make choices - implicitly or explicitly - it refuses to do so.
As far as climate change is concerned, if the broader society should decide that it is a major issue, then that society is fully entitled to devote resources to addressing it. However, it is NOT entitled to beggar the future to do so.
Address climate change by all means - if the society reaches a consensus to do so. However, it then becomes necessary to make the trade-offs. To decide what issues deserve a lower priority and therefore fewer resources. To weigh and balance and make the trade-offs.
It is the society's refusal to do so that is the cause of the debt and which the debt then exacerbates by aggravating economic problems which, in turn, intensify the nation's sense that it should get everything that it wants - and when it does not, it then blames not itself for refusing to choose, but rather "elites", or the "establishment" or whoever the villain of the hour seems to be.
Bottom line, you are to some extent confusing cause and effect and - to mix metaphors - are missing the forest for the trees.
@nightdrot
Excellent expository opinion & reply comments which made me think a lot…
“Live within your means“
“People need to make choices/trade-offs”
“Walk the talk”
“Paying the price” now vs. “paying the piper” later
“Choices have consequences”
“Causes have effects” / “Problems (illnesses) have symptoms”
“Tomorrow’s children will need to pay for today’s bills (selfishness)”
Not sure if the following is a “saying”……
“Failing to choose is choosing to fail”
But this IS a saying…
And so is this…
Thank you - and what you posted is true. However, more deeply, the problem is one of a sense of entitlement. The "WHY" of why a society refuses to make choices.
When the starting premise is that you are good and deserving of all the benefits and must not be expected to pay the price of your choices, you refuse to make choices. You take everything and pay for nothing - see also the stats I cited in my initial posting above.
Such a society becomes inherently immoral. Refusing to choose IS a choice - and such choices DO have consequences. However that refusal is central. It is based on the idea that the rules should not apply do me. Suffice to say, a society so premised will not be a pleasant place - a land where the rule of law is dispensed with when it is not convenient.
There is a word for such a land. Decadent.
I agree with what you said.
We are definitely living in an entitlement/“money for nothing” PLUS “no consequences for actions” culture.
The slant I was trying to make is that our representatives DON’T want to make a choice (and collaborate) to decide what the USA should now forgo in their budgets to be more fiscally responsible…
But each time they do this they HAVE made a choice — an irresponsible one — to dig a deeper debt-hole for the USA.
And this choice has the consequences which you mentioned — not only a weakened US domestic economy but also a severely reduced ability for the USA to project power & influence around the globe.
Again, we don't disagree. I would merely point out that our elected representatives are merely reflecting the culture and doing what their constituents want.
Indeed, the problem being not that the democracy has been too un-representative. Rather that it is far too representative.
Indeed, even in the recent mid-term elections this could be seen. The public claimed, in the polls. that they were unhappy with the status quo. They then proceeded to vote, for all intents and purposes, for the status quo. Suffice to say, the governance that will follow will reflect that trend.
Interestingly, the Founders had sought to head off this problem. They thus created a system of separation of powers and checks and balances. The effect, it was hoped, would be to give some distance between elected representatives and those they represent - thereby fostering prudent deliberation in Congressional debate and governance and not merely responsiveness. Thus, did James Madison argue in The Federalist Papers that the intention was to create a government that would "refine and enlarge the public views and give direction to the willfullness of the people."
Over time, though, popular tolerance for this has transmuted into a populist resentment of the "establishment" and the "elites." This in turn resulting in the gradual informal - and in some cases formal - erosion of those barriers to the popular will. The result is not a republic but a pure democracy that all too accurately reflects the decadence of the culture.
Of course not.
You're old enough to have been around the block a few times so you should know what I am telling you...
There are two kinds of problems in the world:
1. The artificial problems created by humans that have nothing to do with physical reality.
2. The real problems in the physical world that threaten your existence.
That first class of problems is always solvable. The national debt is just such a problem.
That second class isn't because Nature is in charge and you can't negotiate with Nature. Global warming is such a problem.
Let's put this in perspective...
Bob has Stage 4 cancer.
He's going to have to spend a shitload of money if he has any chance of survival. He will acquire so much debt to fight it, it will wipe out his retirement savings and likely cause him to sell his home.
However, if Bob does nothing, Bob will be dead within the year.
Which problem is bothering Bob and his family more?
HINT: It's not the debt.
G. Other
Stupid people are the biggest threat. We shouldn't be allowing Chinese imports into our country. We shouldn't be giving a dime to Ukraine. We should stop protecting other countries around the world. All of our troops should come home. We should seal our border. All illegals should be sent back to Mexico. No hearing, no housing, no bullshit. Covid relief money should actually be spent for Covid relief in America, not gender studies in Pakistan. We should stop going to war just for the betterment of arms dealers. We haven't passed a budget in 20 years. How do you have a job, if you can't do your job? Pass a fucking budget. Why are we even in debt? Climate change is a hoax. The reaction to the Kung flu, was a hoax.
Stupid people are the biggest threat to America.
by chinese imports do you mean their created goods, or do you mean the people we've been importing for decades?
@lightbulb27
Both. Did you know we have Chinese police in America? I don't mean Chinese people working at our police departments, I mean they run their own police departments inside America.
I have not heard of that. where, new york city?
@lightbulb27
That's one place, but they have police stations all over the world. I just Googled it, and they have five in Canada. If we don't stop buying their products, they will own the entire world.
haha... that means stop buying products. Our idiots... oops, I mean respectfully, our esteemed elected officials put us at disadvanted to manufacture pretty much anything, and banned us from mining lithium, raised the costs of our energy but allow it to be cheap for them.
The only way to do that is buy it from Vietnam or other areas, which is possible, unless China takes control.
I did not know they had police stations around, never heard it, doesn't make sense, I don't believe that yet. If so, that's kinda... risky. I do know they are buying land and that's an issue.
P. s. chinese people are everywhere, traveled Europe... they are running a lot of businesses. I have respect for them, hard work, their govt probably helps fund their setup, and they are fight for power without shooting very often. Very smart, I can't fault them for being smart and having values. Americans stupid...
Also... there's chinese kids with real problems... not a perfect society, I see them. It's all about having mom and dad, end of story.
I wonder how long til we have first chinese president or russian. give it 200 years, were not ready yet.
Slow takeover, no need for bullets. put frog in water, slowly raise to a boil until cooked.
Americans... stupid stupid...
@lightbulb27
I heard about it on the news, and Googled it. We buy their crap, they get rich, then they buy and own politicians. They buy farmland in America, just so we starve. Every time someone asks if China will nuke us, I have to laugh. What a waste of a perfectly good nuke. Just put our frog asses in a pan of water and cook us.
That makes sense, true with muslim controlled areas as well. It's about whom has power... money and voters. Question is whom do those people align their allegiances to. This same topic of "discrimination" came up in another thread regarding WWII... how do you know whom the enemy is to inter in a camp?
There's a reason their culture survived, sadly, I don't think most americans would know how to eat or what to eat... they'd step over a dandelion to get a discarded bag of cheetos... know what I mean?
for full disclosure, I married chinese American, she's very American and generally would agree with what we've said.
And they do eat frogs and everything else... you should see the "fresh" markets in nyc.
later gater.
@lightbulb27
I'm not talking about Chinese Americans. These are actual Chinese people who are here to make sure the Chinese citizens are in line, and don't betray their Chinese homeland.
You can buy canned frog legs in the store. If I see them again, I might try them.
I've been to Thailand, and they have carts they pull down the road, and they are full of different kinds of bugs. People choose the bugs of their choice, and the person fries them up with oil. I bought a lady a nice helping of grasshoppers, and bought her a drink. It was worth it just to see someone eating grasshoppers. lol
I'm sure they taste ok dipped in chocolate or fried.
I had fried minnows in France, closest I got to..."gross"... but tastes like a french fry.
Yes, Chinese work hard, and are very successful.
@lightbulb27
I went out one night with a guy from work, and we caught a ton of Hooligans.
You have to use a dip net. Fun to catch, but not my cup of tea to eat.
Those are the little buggers, I figured just minnows.
@lightbulb27
They're like smelt, and they run in the rivers. I know it says Alaska, but they swim down to the mainland. I actually thought they came from Russia, and maybe they do.
I voted G -- The debt is not the greatest threat
The greatest threat is the increasing division inside the US, the red versus blue -- us versus them -- my way or the highway mentality. No one will bother to put a dent in the debt (or solve any other issues) until people agree to compromise.
Great answer!
Our representatives have to start getting along and being civil to each other and acting like adults — or like wise kindergarteners — to tackle the challenges that face this country.
en.m.wikipedia.org/.../All_I_Really_Need_to_Know_I_Learned_in_Kindergarten
You’re welcome
Try this to make the hard choices
https://www.crfb.org/debtfixer
Opinion
34Opinion
Not really and here's my reasoning:
There's always a way out for a sovereign country that has too high a debt burden: Just default on your debt. In that sense the debt is a bigger problem for the people that lend money to the US government, than it is to the government itself. To the extent that it's mostly American citizens lending money to the government (by investing in bonds) this ends up being a transfer of wealth from bond-holders (generally richer and older people) to the rest of the population. As an added bonus, to the extent that foreigners lend money to the US government, the default would be a transfer of wealth from foreigners to Americans.
However, defaulting on the debt isn't ALL upside. The downside is that the government would then be "locked out of capital markets" as people in the future would be FAR less willing to lend to a country that has demonstrated a willingness to stiff bondholders. (See for example, the experience of Argentina, Greece, Mexico and a whole host of countries with a history of defaults). That would mean that in the future, the US would be FORCED to run balanced budgets. That is, since they could no longer borrow (or could borrow only at very high expense) they would have to limit government spending to only what could be collected in tax receipts. That means big cuts in government spending.
And now comes the big point--if MUCH of government spending (MOST? of government spending?) in the US is a HUGE waste of money--would that REALLY be such a problem?
The US implosion will definetly come from within, there is nothing "united" about the states. It's a failed democracy, a failed economic system, a system and country that weaponized the dollar to hold it as the standard. I am in no way shape or form valuing Hitler by saying this, in fact Hitler deserves to burn in hell for his actions. But the US has invaded many countries and have killed millions of people, different president (Democrat or Republican), following the same ideology that's all it is, why do the US get a free pass and not viewed as a terrorist, warmongering country? Americans are fooled that the trillions spent on war is for freedom and honour, no its only about again, weaponizing the dollar, enforcing other countries and people to abide by a capitalist system, wasting that money on pointless wars for colonial purposes to steal from oil-rich countries in the Middle East. People who read this will disagree, get mad or think I'm stupid.
Throughout time, empires have collapsed, throughout time, plagues, economic crashes, mass killings and a divided public in a state have always occurred. For Americans to not give a shit about Syrians, Iraqis, Iranians or others being killed by the US and US allies because those war tactics bolsters the US economy, who's to say the same effects don't happen in the US 50 years from now or 100 years from now. Where people in the Middle East don't give a fuck and say, you did that to us now we're getting pay back. That's the dangerous thing about wars, that's the dangerous thing about ideologies and these satanic, corrupt political leaders we keep voting for. I don't wish bad on people but I want the system to collapse. It's like finding out your spouse cheated on you, you realize they were a shitty person from day one but the individual who is hurt in the relationship always denied it until they finally understood the truth. One day, Americans will realize it.
No, that is just something that basic people would think. Countries are really, really, REAAALLY good at functioning while in debt. As such debt is generally not a big problem, even while deep in it. USAs extreme example is definitely not good, but its far from reaching critical levels as long as USA can maintain its position in the world. It is a problem, but manageable. An ordinary concern for an ordinary country.
Considering USA faces actual existential crisis right now I would hardly say it is the greatest threat to America. You have politicians openly talking about destroying the country to rule over the shattered remains and recently had an attempt at a violent overthrow of the government as well as terrorists attacking your infrastructure and yes, also climate change. There is a million and one dangers USA faces on a daily basis that is far more pressing than its current debts.
Which answer-option letter did you select in this question’s poll?
(1) The United States weaponizes its dollar, invades countries and then steals oil by killing people in international countries. Former ex-US politicians have admitted the US has broken many international laws Well thats the thing when you use your military and then weaponize your dollar as the global monetary standard. The IMF, the World Bank, The Federal Reserve have been around for 100 to 70 years or so, one day it will collapse. The UK pound has devalued itself over the years, why do you think the royal family doesn't hold significance like it once did, that family is fighting and showing their true colours and one day people will say fuck the monarchy. I understand this system - I am a university student has studied law, politics, economics throughout the years, my professors have said this is a bullshit system, economists say this is a bullshit system. For anyone reading this thinking... Ohhh those idiots have always predicted that. Since the Federal Reserve the US has gone through 20 recessions since 1913. Empires have collapsed, monetary has altered and changed throughout time. There will be another World War and huge economic crash coming. People are ignorant because they assume we are so advanced today but all I see is far more ignorant people and ignorance is a dangerous mindset to have because it could and will lead to collapse. I am muting this post so I don't get notified because I know the bozos on GAG will get triggered. Life doesn't move in a straight line forever. The only reason why the US is staying afloat is because their dollar means something, if the stock market crashes again, the US is fucked, especially if other countries are advancing.
(2) If people want to get mad at me and tell me or call me an f-ing clown, an f-ing moron, a piece of sh1t fagg0t... whatever curse words people on GAG want to throw out to me, go ahead. I'm muting this post so I don't get notified for stating the truth and not having to read insults for me stating the truth. People don't want to come to grips that the market can crash because people assume why would history repeat itself. That's the dangerous thing about ignorance is that it usually led to bloody conflicts so don't act like the economy is bullet proof. It will collapse one day and people will always deny the truth until anger and or fear truly seeps into their minds and effects their livelihood. We will witness another World War and economic crash, that will lead to the second coming of Jesus and the imam of the time to provide justice, equity, peace in this world. Stop believing in the politicians you vote for acting like they are God when in reality they act like Satan-esq.
https://youtu.be/8CJJwCqHj0E
@pass_the_celery98 You are fucking delusional. First of all, people who does not break their walls of texts into paragraphs for the benefit of anyone who reads is the same kind of people who does not return shopping carts from the parking lot without it being illegal not to. You are the problem in our society.
Secondly, I dont care who you are or what you do but you are completely divorced from reality. Do you think its some kind of news to us "mortal beings" that USA is abusing its control over the dollar abroad? Do you think we never noticed USA flexing its imperialism and invading countries to bring them into its sphere of influence? This is obvious shit even children could tell you and you think its some kind of revelation brought about from higher learning that only someone of your station could learn by listening to world renown teachers? Fuck off with that elitism bullshit. You are not half as clever or well informed as you think you are.
And thats another thing, you are hilariously wrong on your entire world view because you try to apply your meager understanding of economics to every historical event you can because you are too lazy to learn the actual reasons. When all you have is a hammer, everything looks like a nail. The fall of the British Empire is an incredibly long and complicated topic that could not possibly be summed up with "The pound devalued itself and therefore the royal family dont matter".
I weep for your nation and the state of its education because you dont understand shit and with our luck you will become the next leader or whatever to bring humanity as a whole another step backwards. Seriously, do you really think the Monarchy or the US dollar or whatever other system is just one small crisis away from collapsing? Do you have ANY idea of the sheer amount of bullshit they have already endured? But noooo, according to mr student over here we are just one sneeze away from everything collapsing into another bronze age collapse where we go back to hitting things with rocks for a living.
Of course, there will be a day when it all falls apart. Everything that exists will one day be destroyed. There will always be another war etc.. Does not take a genius to recognize that time progresses forward and that the number 3 comes after number 2. What you fail to understand however is that we are living in exceptionally, and I do mean EXCEPTIONALLY, peaceful times. There is no real indication that shit will hit the fan and even if it does we can handle multiple crisis at once.
For us to suffer a collapse of the magnitude you are predicting requires several things to happen at once and all sides of any given conflict to make a mistake at the same time. It could happen, everyone could wake up collectively on the stupid side of their bed and go to work prepared to make the worlds dumbest decisions all on the same day. Its not impossible. But its also not very likely.
But until then, time will continue forward. And before you mention it again, recessions are a natural part of the economy. Its something we expect to see and as such is not something that will reduce us to living in a mad max universe and the same goes for the stock market. Get your head out of your ass.
38.38 trillion in debt. What do you think?
The federal government’s total public debt stood at just under $31.46 trillion as of Feb. 10, according to the Treasury Department’s latest daily reckoning. Nearly all of that debt – about $31.38 trillion – is subject to the statutory debt limit, leaving just $25 million in unused borrowing capacity.
National debt isn't an issue but an asset to assure dominance. It's our actual giant cock slapping countries in the face wanting more because they can't do anything about it.
A little expensive but such level of dominance is expensive. You know the saying?
If you owe the bank $100 that's your problem. If you owe the bank $1,000,000,000 thats the banks problem. We use this deficit to bend countries into our favor. Like China wanting Taiwan, we are slapping them around too hard with intrest payments they don't get what they want.
Compared to Russia that is more independent acts more independently invading Ukrainian. USA lending Ukrainian upfront cost will expect repayment eventually so another way using the debt to shape the world as we please as a dominant figure.
Yes and no. The last president to pay off the national debt was Andrew Jackson. So we've always had debt pretty much. And debt is OK so long as you have the means to control it. I remember when I was in Jr. High the national debt was only 3 trillion and they made a big deal of it then. Now it's 10 times that. But the economy has grown as well. I think I read that they say it could triple still from here before it truly becomes a problem. But having said all this why wait for it to become a problem. They can always reign in spending. They simply don't want to. Not when they can just raise taxes.
It’s impossible to qualify that statement as an absolute in that way, but most people are either completely ignorant of the threat of the national debt, or in denial about the threat it imposes.
We’re already well past the point at which other nations should have stopped investing in our currency. All that needs to happen to begin the total collapse of our economy is one backer to pull out. We won’t even know what’s happening until it’s over.
Which answer-option letter did you select in this question’s poll?
I didn’t vote because the options were phrased in absolutes.
G is open-ended
Then it’s an option and not an answer. I used my own words as an answer. If that’s somehow offensive to you, block me and you won’t ever have to worry about me applying my own rationale to your content ever again.
Agree. I’m pretty sure this is deliberate. Considering we are sending millions to the Ukraine and have sent millions to Turkey…while this is going on. Accident? No I think it’s just Americas internal enemies trying to intentionally destroy it from within.
Debt should have been dealt with long ago but the greatest threat is people in Congress not doing what is right for America. Manchineel is trying but there are too few. Trump was successful because a large part of the population agreed that government is not helping the people, just themselves and the groups that funnel them money.
I selected climate change because that is the biggest threat that every country faces, with the fact that it is inevitable , deadly, will cause massive changes such as worsening debt, taking away land, cause overpopulation, mass migration, war, the food chain affected.
I voted A. Totally agree with Senator Manchin. Hopefully the Supreme Court will do away with Biden’s planned 500 Billion $ payback for student loans. Just a start, but we need massive cutbacks on our budget.
You’re welcome
It is right up there. But realistically there are so many threats to the nation and the planet, there are just too numerous to count.
I don't envy the next few generations.
Good luck you guys!!!
i vote "Other" for lgbtqs
silly women castrating their 7 years old sons and brainwashing them into believing they are a girl is a pretty big threat to any civilization.
that and US govt is the threat. Constantly blaming other countries for its problems, lying to its people constantly, spinning other issues in the media/ govt agenda to get away from the real problems that's happening in the U. S.
The National debt, not any of those others won't be a problem if Russia continues to threaten the countries around it and talk about how many nuclear weapons they have aimed at us.
People refusing to accept the results of elections and trying to illegally reverse them are. Voted G.
(G) Woke politics / ideologies are the greatest threat.
China is the biggest threat but there are other threats too. The deficit will cause problems if it is not addressed soon.
I'm not sure the DEBT is the GREATEST THREAT but it VERY IMPORTANT.
It's what took down the Soviet Union, and it's what will take down the USA.
You can also add your opinion below!
Most Helpful Opinions