How concerned are you about the rising U. S. national debt and deficit?

[strateguy632]

How concerned are you about the rising U. S. national debt and deficit? over $33 Trillion, each trillion is one million of millions. 1,000,000 x 1,000,000 x33.

a, not concerned?

b, concerned?

c, a bit concerned?

d, considering how much each one million is, and 33 trillion, so very concerned?

[goaded]

It's normal to run a deficit when there's an emergency situation, but it's prudent to try to reduce or eliminate it when things are going well. What's a bad idea is increasing the deficit when things are going well, by giving tax cuts like in 2017 and 2001.

If it wasn't for "the Bush tax cuts4 and their extensions—as well as the Trump tax cuts—revenues would be on track to keep pace with spending indefinitely, and the debt ratio (debt as a percentage of the economy) would be declining. Instead, these tax cuts have added $10 trillion to the debt since their enactment and are responsible for 57 percent of the increase in the debt ratio since 2001, and more than 90 percent of the increase in the debt ratio if the one-time costs of bills responding to COVID-19 and the Great Recession are excluded"

https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/

[strateguy632]

haha "normal to run a deficit" other countries limit deficit to 3%. that is normal not biden spending.
if less tax income then spend LESS. like a family.

[goaded]

Not even close. Canada had a larger deficit as a proportion of GDP, 20% in 2020, than the US' 19%. Germany, France, the UK, and Spain had between 13 and 16%, India had over 12%. Only a handful of countries run a surplus (like the US was before the Bush tax cuts).

en.wikipedia.org/.../List_of_countries_by_government_budget

[strateguy632]

as i sepcified 3% is normal... those you list are too risky and despite happen are "not normal".

[Avicenna]

Very concerned. So concerned that I keep as little in US dollars as possible.

It's a spending problem and the aftershocks from overspending that have caused it (now showing up as interest that has to be paid on the debt). But we still have some clueless leftist ideologues who want us to think it's just due to... tax cuts!

National debt reaches new heights

US national debt could approach $89 trillion by 2029

Overspending could bankrupt America

[ChiTown33]

Well considering I remember back when it was only 3 trillion...

It's not that I'm not concerned. It's that today's politician doesn't even consider it a problem. I heard on politician say it could get over 50 trillion and still not be a problem. That it would have to be north of 100trillion for it to actually be a problem.

So what do you do when this is the prevailing attitude with ALL of your elected officials?

[strateguy632]

not "all" the politicians argue about "debt ceiling" and keep having government shutdowns because can't agree about the budget.

[strateguy632]

oops need a comma. not "all", comma, the politicians argue etc.

[muscles_glasses]

I live in Canada. Our debt is high but still significantly less than that of the U. S. Our former prime minster Stephen Harper paid down a significant portion of our national debt but was eventually voted out of office. Our current prime minister Justin Trudeau created a lot of new job by investing heavily in infrastructure projects which increased the national debt significantly.

Paying down the national debt is not considered sexy and many politicians would rather spend than save.

[NathanDavis]

not one bit... it's not an actual thing

nobody is ever going to knock at my place and demand me to pay "my part" of the national debt

and even if they did... we're paying back to ourselves... they already take their share from me and those are called taxes

the rest is just political propaganda to which I've never subscribed... lol

[strateguy632]

part true, not your debt but debt is real at economic websites an actual thing.

[strateguy632]

https://www.pgpf.org/

[NathanDavis]

" Since the United States has never defaulted on its obligations, the scope of the negative repercussions related to a default are unknown but would likely have catastrophic repercussions in the United States and in markets across the globe. "

see? never... ever since the Revolution

the USA has never ever, not once said "we are too broke to pay ourselves with out own money"

never...

[RealMarek]

It’s one of the main reasons I post from my inflationary bunker of doom. This sort of debt doesn’t matter as long as productivity can expand indefinitely and the dollar is the global reserve currency. Well, de-dollarization is accelerating and productivity is going down (not counting fake GDP like rents foregone due to homeownership, service economy, and government spending, etc.). We’re freaking doomed.

[ProbablyClueless]

I'm not thrilled about it. Running and deficit and having debt in general isn't a problem, but we shouldn't have the amount of debt that we do.

[docster]

Very concerned. The problem is when every Democrat and two thirds of the Republicans want to spend us into oblivion, the ship is going to sink.

[Ben487]

a bit concerned. I don't freak out about it though, I will wait until money doesn't buy anything and shit is on fire before I really freak out.

[NamerOfStars]

An individual should avoid long-term debt, because eventually their ability to earn more is going to decrease greatly, as they age. Nations don't have that problem.

[love_conquers_lust]

Annoyed. Most of that debt is owed to the US public. Eventually, American citizens are going to do a margin call.

[Jamie05rhs]

Extremely concerned.