The national debt is over $34 trillion. It’s time to tell the truth about the U.S. government’s finances

15 comments

1. You mean like, “The debt is an arbitrary number on a spreadsheet and doesn’t represent the same kind of issues for a sovereign state that it does for an individual debtor?” That kind of truth?

   Or are we just into fear mongering clickbait territory again?

2. The debt wasn’t a problem back when Perot was talking about it in ‘92 and it’s not a problem now . The United States’ national debt, while substantial, is not necessarily as problematic as it might seem at first glance, for several reasons….first, the U.S. debt is denominated in its own currency, the U.S. dollar. This gives the country a significant advantage, as it controls the currency in which the debt is issued. The Federal Reserve, the U.S. central bank, has the ability to print more money to manage the debt, a luxury not available to countries that borrow in foreign currencies. This capacity to issue and control its own currency reduces the risk of default, unlike in scenarios where countries cannot meet their foreign debt obligations.

   Also, a large portion of U.S. debt is owned by domestic entities, including individuals, banks, and even the U.S. government itself. This internal ownership circulates the debt within the country’s economy, rather than representing a direct drain on resources to external creditors.

   Additionally, U.S. Treasury securities, the instruments through which the debt is issued, are considered among the safest investments globally. This high demand for Treasury securities, including from foreign governments and investors, helps keep borrowing costs relatively low, further mitigating the immediate financial pressures of the debt. The ability of the U.S. economy to grow over time also plays a crucial role, as economic growth helps to outpace the growth of the debt, making it more manageable in relative terms.

3. The truth? Almost everyone and their mom knows the Truth… It is our politicians (WHOM WE ELECT) that choose not to operate in the truth… 😊🙃

4. Now it’s time? Click bait bullshit again.

5. A public sector deficit is a private sector surplus

6. The scene from goodfellas, rack up the bills on the joint then burn it out when it goes bankrupt?

   That’s this.

7. I am tired of these articles. Because they are not working to spread awareness. Every 3rd person I start this conversation with won’t even agree that this amount of debt is a problem for USA. One moron said that debt is “dollar denominated,” so we shouldn’t worry when the [countries are activity moving out of dollar.](https://markets.businessinsider.com/news/currencies/de-dollarization-renminbi-dollar-vs-yuan-takeover-china-russia-usd-2023-4)

   Also [After, BRICS, Japan Dumps $63 Billion Worth U.S. Bonds](https://watcher.guru/news/brics-japan-dumps-63-billion-worth-u-s-bonds)

   That something will not give, when a country has 34$ T debt, is living in fantasy land.

8. Here’s the bit where they say raid social security:

   “It’s now come down to this. Unless a new generation of leaders has the courage to cut such “untouchables” as the defense, education, justice, and homeland security budgets, and privatize the Social Security program (as more than 40 countries wisely have done), sooner or later, the current trajectory of federal finances will lead to an extremely ugly place. If you think things are bad now, just wait.”

   Also, there’s no mention of the main cause for the debt increase being republicans tax cuts in the last twenty years.

9. Tax the obscenely wealthy? The major cause of our national debt is due tax cuts passed during the Reagan, Bush (dubya) and orange turd’s administrations.

   Thankfully the tax cuts passed while the orange turd was disgracing the Oval Office will expire next year.

   The higher child tax credits that were passed under trump can be extended, but any tax cuts for corporations or high net worth individuals needs to end.

   Edit: vote this down all you want but you know I’m right.

10. They should ask the DoD for tips on how to get away with failing audits and “losing” money.

11. “Alvaro Vargas Llosa is a Senior Fellow of the [Independent Institute](https://www.independent.org/), Oakland, Calif.”

    Always love to hear Theroux’s libertarian think-tank spouting Austrian school orthodoxy, what a neutral arbiter of the facts!

12. The Trump tax scam, and the irresponsible Reaganomics destroying the treasury’s solvency. Heck even Dubya hated it when the U.S. government reached a budget surplus thanks to Clinton’s measures.

13. Someone needs to make a budget

14. We really don’t have any reason to be at ww2 levels of debt again.

    Tax more. Cut corporate subsidies. Reduce military spending.

15. That’s why vwe should vote for the guys who reduce taxes for the rich again, this time will work, pinky promise