My friend told me the national debt was 20 billion dollars. I thought "dude that's way to high there's no way that's fucking true" and he insisted. So i finally beleived him thinking to myself "20 billion fucking dollars? That's 1/3 of Bill Gates income that's fucking huge how will they pay that back". I then looked it up, it's actually 20 TRILLION DOLLARS! WTF The U.S is 20 trillion in debt how will they ever pay that back?
United States Has To Pay Back Their Debt by Next Year
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I also found out most treasury bonds are 1 year meaning payment must be in 1 YEAR
>lacking the DOUBLING of this debt by Obama
this graph is shit
How do you think they will pay the debt due in 1 year? Try not to strain your pea brain.
You're an idiot, they can't pay it all back in 1 year.
PAY DEBTS
By repealing medicaid, social security, all welfare, and cutting the military which all takes up over 1/2 of the federal budget, then we'll have a surplus and be able to pay that back. Raising income tax for rich works as well.
I like the idea but don't we need social security so old people don't die.
>How do you think they will pay the debt due in 1 year?
A new war for certain, and more debt goy
Whats so surprising? The country is an embarrassment.
oh no, poor boomers D:
holy fuck people on here are dumb. They issue new bonds to pay back old bonds. USA is insolvent but that will not matter until interest rates rise
Won't the new war crash the economy making the debt even worse?
I don't mean boomers i mean old people, like people who are 60+
I have an idea. What if the U.S works to convince China it is bankrupt and has no money so the money they loaned them doesn't have to be so back.
That graph is a perfect example of baby boomers throwing the younger generations under the bus.
Yeah good luck.
Most US debt isn't owned by China, it's owned by the US public
We won't. The pathetic reality is that on a debt/GDP basis, the US is better off then most. If you want to see fucked, look at Luxembourg.
GAS THE BOOMERS
GENERATIONAL WAR NOW
what happens when you over tax the rich?
Who do you think those are? Boomers currently range from 52-71 years old, they're the ones cashing their checks now.
If U.S owns the debt why not cancel it?
I looked it up and the U.S debt to GDP one of the highest in the world at 104% of GDP
The economy gets better. Fuck the rich.
Majority of that debt is owed to US citizens mate.
Uhhhhh. Why can't we just tax the rich?
Do you even into Economics, dumb niggers?
The typical answer would be "yeah technically but we can borrow unlimited amounts of money and nobody will ever call the debt in because MUH PETRODOLLARS and MUH INVINCIBLE AIRCRAFT CARRIAHS." Yes folks retardation is one hell of a disease, you get it from toilet seats, use a protective sheet.
The boomers are the rich.
>kill boomers
>pay off debts with reclaimed money
>happy America
The whole "rich flight" thing is a spook, we had fucking 91% on those cunts back during the Eisenhower days, flying to Switzerland was just as much of a factor then as it is now. The CEOs who get that kind of money now are globalist kikes who couldn't give a fuck about their country. Times are getting desperate, and if taking money from these cunts is the way to get rid of the debt, then so fucking be it.
I'm suggesting to do both.
Boomers are poor as fuck. How are they in any way rich?
You clearly don't know economics
You're very very retarded.
Based Eisenhower.
the rich aren't overtaxed you moron, they beat the current tax rates through loop holes and by far pay less % than your average fucking middle class faggot
Your dick sucking buddy Obama ran up half of that.
kys faggot.
By eliminating the monetary system entirely and returning to bartering and trade.
Then why do you support Obama?
They could write off trillions in a pen stroke, but you'll have to talk to the Federal reserve for that answer
>you clearly don't know economics
Okay. I have question. How the actual fuck can all the people who have lend money to America (mostly inside corporations and institutions like CIA, FBI etc.) Would want their money back at the exact same time? Shit is like mortgage. USA will never give back the full money.
You gotta love plebs who want to tax the evil rich yet they get a tax refund every year. Let the gubbmint keep it if you care so much.
(crickets)
There's currently 1.5 trillion floating around in currency in the US right now. Taxing the rich 100% wouldn't do shit to bring down the debt as long as we keep spending. There needs to be a massive overhaul in wasteful spending and a massive cut in programs if we ever have hope of bringing down the debt. Taxing the rich even more right now will only go towards more gibs
That's a drop in the bucket, they need to cut their spending
Extremely obvious troll.
/thread
Fiat currency is a meme and will only go up and up
How old are you?
What the fuck are you talking about?
Not to forget that the US is owned by China
BY UNMASKING THE PRODUCT THAT WAS BOUGHT. That debt is a massive fleecing of the highest levels.
THE DEBT IS LARGELY STOLEN SUMS.
Reveal this, and there goes half that 'debt'. Maybe more.
The Republican chucks can't even repeal a law they have been promising they would for 7 years, but those pussies are going to do all this?
How do you figure that
We just print more money, you fucking retard.
>Has To Pay Back Their Debt by Next Year
Or what?
USA's debt.
>us has to pei there dnbt by next yaer
No, it doesn't. They are not going bankrupt or anything.
>They could write off trillions in a pen stroke, but you'll have to talk to the Federal reserve for that answer
Top stupid post of the day.
You don't even know what a write off is do you?
Loans secured by collateral means you forfeit said collateral. Goodbye most of the U.S. when China and Japan want paid.
America was prosperous after Andrew Jackson........
........ until the Jews with their lefty minions came and then established the Federal Reserve in the 1910's
WITH JEWS YOU LOSE
You CAN NEVER pay off that debt in full. The people saying 'Cut dem programzz' don't realize just how much 20 trillion dollars is. That is literally unmanagable. The only way for us to wipe this debt away is for us to completely default on it, which would be temporarily quite painful for us but in the long run would be the best course of action. And, anyone who was fucking stupid enough to lend our government money anyways deserves it. That goes for the chinks and the bankers. Ironically, many theorize that defaulting on our debts would actually be economically beneficial for us in a very short period of time for a multitude of reasons.
>white pride
You're a very obvious troll, enjoy your ban
Cutting spending won't do much the U.S only spends 15% of GDP
It was already obvious enough and a simple google search will say the same.
As long as the petrodollar system stays afloat there is no need for conern
At the moment we're sanctioning Russia due to their efforts of being the main supplier of gas in Europe
The reason we have such a high military budget is to intimidate the world into trading oil in USDs
You clearly have no idea what you're talking about are are parroting whatever you hear
It's true though. No one can demand the US pays anything. But the US does not want the USD to collapse. They worked hard to take over the world's financial system. They're not going to let it go to shit if they can at all avoid it.
Debt is very bad though. We pay interests on it with our taxes. Capital owners are taxing us more and more. Even if it fuels GDP growth, what does it matter since ordinary people do not benefit much from it anymore. This absolutely is "late-stage capitalism" lefties like to complain about. Turns out it's not them who are on the way to fix it though. They turned globalist.
And there are many reasons China is buying US debts. Main reason is probably that they want to keep their currency weak to boost their exports. Also they need to acquire USDs to buy oils and as forex reserve. And they like to reinvest those USDs back into the US for many reasons. They're not buying debts to do us a service. It's in their best interest and they know very well the whole thing cannot go on forever and that they won't see "real value" out of it. Not directly anyway. They're in it for all the side-effects.
stfu pussy
Fucking ignorant piece of shit, no wonder you are a democrat.
Why doesn't Bill Gates pay it off and do something good for his country instead of third world shitholes?
Yeah, I'm suggesting that, liberal tax policies with conservative (real conservative, not "cut everything and raise military" conservative) spending policies.
the debt owned by the public could be written off, not the foreign debt you dipshit
>until the Jews with their lefty minions came and then established the Federal Reserve in the 1910's
The Jews have established a central bank 4 times in this country. The kikes have been on this scheme since the very beginning of this nation's founding.
This exactly. Fiat currency only exists BECAUSE there is debt.
Money used to be tied to gold until Nixon.
Now it is tied to debt.
No debt = no money.
what makes you think they intend to ever pay it back? that's what world wars are for
we're not going to
when the federal government defaults on the debt, that will be the thing that finally shrinks the size of government and hopefully breaks the country up into separate countries.
I'd rather it be dismantled by bold political leaders dedicated to liberty but it's probably going to be a painful sudden collapse after years of ignoring the problem. either way it'll be better in the long run.
Why not just balance the FREAKING budget. IDIOT
How does that help anything and why is it benefical?
It's more like $70B
>what makes you think they intend to ever pay it back?
The fact that he believed the US will pay it back
hahaha
>cutting the military
>america
you are a fucking riot, i like you user.
You're an ignorant piece of crap.
>“The share of publicly held debt we have now relative to GDP has only happened once before in U.S. history. What our debt levels are — we often talk about this number, $19 trillion of debt. That’s not the real number because all of your entitlement spending is kept off book on a different ledger. The real number is more like 70 to 75 trillion dollars — and so when you set that up against U.S. GDP, the only time we ever had a debt-to-GDP ratio like this was on the eve of the Great Depression.”
— Sen. Ben Sasse (R-Neb.), town hall meeting in Elkhorn, Neb., March 17, 2017
>WTF The U.S is 20 trillion in debt how will they ever pay that back?
They won't. Who is gonna make them?
Because he can't.
The US always makes their debt payments. It isn't due in a lump sum
>And there are many reasons China is buying US debts.
Because Chinese people are just as dumb and uninformed as your average American. It's really that simple. It isn't some grand, clever scheme by Chinese people to take on debts; they're just dense naive enough to be believe they'll be collectively paid back in full (Protip: they won't)
Makes no sense to me, if all debts get paid off wouldn't there still be money?
BECAUSE IT'S 20 TRILLION FUCKING DOLLARS.
Balancing the budget should not be the first step. Balancing the budget should occur post-default.
OP said
>That's 1/3 of Bill Gates income
Surely he can spare a third of his money to help his homeland.
That's not how the federal Reserve system works a quick Google search might help you
No. Debt ALWAYS outweighs what is in cash reserves in our current system. Why do you think they keep talking about "raising the debt ceiling"? It's so the whole system doesn't fucking implode.
>the debt owned by the public could be written off,
That ain't gonna happen either nancy. First off the government will just seize assets, retirements, lottery winnings, etc. They created this problem and it will never go away.
when the dollar collapses, you're going to wish you had bitcoin
>4 times
F U C K
Just watch this, user
youtube.com
The fact that the world trades oil in USDs is why the dollar is so strong and why we can print so much of it
If countries started trading oil in other currencies than they would start sending USDs back to the United States which would chase a burst of hyperinflation.
Why do you think Ghaddafi and Saddam were eliminated? They both wanted to trade oil in other currencies which would be a massive threat to the US' economy
Isn't it already collapsing slowly
GDP is yearly
Debt is stationary
The real comparison would be debt/assets
Debt: 20 trillion
Assets: 330 trillion
135423421
Why did you post a chart that is 12 years old?
AS USUAL, the Natsoc is the only non-moron.
THEY WILL ISSUE MORE 1 YEAR BONDS.
Fucking 16 year olds...
>you're going to wish you had bitcoin
Bitcoin would go well with all my other imaginary friends.
how bluepilled you have to be to think debt was only 20B, and thinking that was high.
were fucked. im pretty sure that there arent even 20 trillion dollars in existence right now
ah that explains it
As long as the U.S. has military superiority the debt won't matter. The threat of violence is what backs the dollar
ur an idiot racist
Except if i pay back my student loans it's not like that money dissapears
Bruh, Gates has 60 BILLION the debt is 20 TRILLION. Gates money is worth 0.01% of the debt.
America has 330 trillions in assets
The debt is actually higher than our GDP