America is ‘going broke slowly’ says JPMorgan, as national debt balloons and tariff revenue looks shaky

24 comments

1. Seize Trump’s assets for a sovereign wealth fund.

2. Proscription and breaking up mega-corporations.

3. While Jamie Dimon (CEO of JP Morgan) keeps putting more money in his pockets.

   Jamie Dimon’s total compensation for 2024 was $39 million, an increase of 8.3% from the previous year. I can only assume it’ll be more this year.

4. Tax the rich

5. What a surprise… pretty much what one would expect when you put a convicted criminal in the White House. I worry the most that in desperation it could lead to an attempt to use expansionism as a way to solve a badly failing economy. I wouldn’t put anything past this insane administration at the point.

6. No worries. We’ll speed up soon enough.

7. I am pretty sure we have *been* broke for a *long* time, considering that aside from a very brief bit during the Clinton years we have had to borrow to meet our obligations for *generations*.

8. There is am anecdote where a millionaire is asked how he went bankrupt…his response “slowly and then all at once”

9. Slowly? Skyrocketing to heights never seen before is not “slowly”

10. Gee, if only there had been historical evidence that punitive tariffs and rampant nationalism would go poorly.

    If the current administration knew how to read, _and_ they knew anything about history…

11. Who could have seen this coming…..?

    A failed businessman running the country.

12. Ah yes debt, another reason republicans always give for voting republican. And never look at facts.

13. In the words of Rick Wilson “Everything Trump touches dies”.

14. Trump bankrupted casinos so this news is no surprise.

15. but wait, I thought the tariffs were going to bring trillions back to the US economy? That is what the clown said during his election, right?
    What a fucking joke.

16. lol alarm bells all over the place and our government is…literally doing nothing.

17. Going bankrupt seems to be trump’s specialty.

18. He’s trying to destroy the middle class in order to make us all indebted slaves. And he wants to destroy the lives of anyone who didn’t vote for him while doing the same for those who did. It doesn’t matter if u need voters when your just taking over the country for Putin

19. Tariff revenue is a nice phrase for taxes.

20. You know how private equity firms buy a company and loot all of the assets for short term gains and then bankrupt the company? That’s what the GOP and oligarchs are doing to the USA.

    Edit: replaced VC with PE. Sorry pre-coffee brain fart.

21. Elon musk is worth 500B

    America could easily balance its books if the political system wasn’t beholden to billionaires and corporations 

22. Tariffs aren’t a fucking revenue. They’re a tax on the citizens for shit brought in from over seas. It’s a net negative for the coffers of the American people.

23. A reminder that Clinton created budget surpluses and then Bush passed two tax cuts. Clinton used a lot of political capital doing that. Obama then tried to work with Republicans by agreeing to cutting spending in exchange for revenue increases. He also forced higher taxes on the very rich to alleviate the deficit. Trump then slashed taxes for the wealthy and corporations.

    If America goes broke, you can hold Republicans accountable for it.

24. It’s by design, folks. This admin is looting the country.

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