How much longer until our debt becomes unsustainable?

How much longer until our debt becomes unsustainable?

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As long as the (((FED))) prints money, it will be okay...

Probably only a few years thanks to Trump.

Deficit went up 80 billion this year alone, expected to go up another 200+ billion next year thanks to the tax cut.

It's been unsustainable for a long time

Its funny that you call your national debt "gross"

Neither party wants to cut government spending which is constantly dragging this country deeper into debt.
As soon as the Boomers start retiring in masses then we will start having deficits as high as 1 trillion a year.

About 15 minutes

>Neither party wants to cut government spending which is constantly dragging this country deeper into debt.

Or, you know, raise taxes. But that's not convenient to your argument, right?

The middle class is already diminishing and the majority of Americans are living paycheck to paycheck. Robbing Peter to pay Paul isn't gonna work

I'd like to see a chart going back to 1971 when the gold standard was removed

A large and increasing debt primarily affects inflation and interest rates, so it’s not like everything will immediately crash once it hits a certain amount.

What did Obama spend 10 trillion dollars on exactly?

I've never seen a breakdown on where it all went.

And you think this is because of too much taxation?

Top jej my man

Government has grown to be very bad with spending money. If you have government do it, or even go and pay others to do it, the price will be triple, at least. You need someone in charge who sees this as an issue.

He didn't spend it. The government was running on a massive deficit when he took over. A deficit which he reduced drastically.

You delusional faggots deserve everything that's coming to you.

If anything, Trump is staving it off, which I also hate because that only makes it worse when it finally happens. I just want it to all collapse and be done with it. Then we can do something new.

>reduced
>added 10 trillion dollars

Hmm...

>what do defucit means?

It's not the taxation itself, it's who pays.
The ultra poor and the ultra rich pay no taxes.
It's the middle that pays everything.

Government spending will soon exceed tax revenue far greater than today. A higher tax rate for the population would only send more people to the lower class area. That's why Berniefags were delusional into thinking they were gonna get all this free education and healthcare without having to massively increase taxes

Look at the tax rate for your country and see how it compares to the US

Never? A government with monetary authority cannot be forced into sovereign default.

It's been unsustainable. And we have huge unfunded liabilities thanks to Social Security and Medicare. There IS NO MONEY to fund those AND THERE NEVER WILL BE. If the FED hikes interest rates much, just the amount of money to SERVICE the debt will be backbreaking.
BUT: Europe and China have it much worse.

>doesn't realize it's already unsustainable

I added 2017 to the chart to reflect the first year of Trump policies.

Kek. At the current rate, if you include the tax cut, we will beat 1 trillion per year in 3 years.

No, it's 80 billion higher than Obama. Total of $666 billion in deficit spending, and around -$700 billion total expenditures (things like private jet flights to Florida for golf and missiles fired into Syria aren't counted in deficit spending)

Deficit is how much the debt goes up.

Obama didn't add more blood to the patient, but slowed the rate of bleeding.

Govt spending is still greater than tax revenue by a large margin so who gives a shit if he reduced the deficit by 10% or 50%, the debt has still basically doubled in the last 9 years so to give him or Congress any credit is fucking retarded.

What did he mean by this?

Isn't he using his own Jet with his money and going to Golf on his or his friends courts?

Obongo did a very good job cleaning the financjal mess Bush left by softening the bank regulation (remember Lehman brothers ?). He stopped the deficit growth. Trump, has risen it again in less than a year.
You dun goofed.

So what you're saying is.. Raise taxes on the rich.

P.S. My country is great and I wouldn't trade it for your shithole that's for sure.

P.P.S. You already spend more public funds per capita on healthcare than anyone else in the world - you could have universal healthcare with no spending increase, but since you americans are so obsessed with getting sodomized by corporations you don't.

>New CEO takes over company with a billion dollar deficit
>Next year the deficit is in the low millions

HURRR BAD CEO LOOK THERE'S STILL A DEFICIT

>How much longer until our debt becomes unsustainable?

Never, it's just a bunch of digits in a computer file.

>Obama didn't add more blood to the patient, but slowed the rate of bleeding.
In reality he didn't even do that. It doesn't matter how high the deficit gets because the debt can NEVER be repaid. The government needs to continually borrow more money every month to pay service on that debt and attempting to stop borrowing and pay down the debt would send the entire monetary system into deflationary collapse.
It's going to collapse, and it's going to collapse soon. It's the biggest issue of our time.
youtu.be/iFDe5kUUyT0

All that debt is accumulated wealth. As long as the world on aggregate saves more than it spends, the debt can and will continue to grow.

There will probably be an inflection point when the boomerscum retires. They will have to liquidate assets to pay for living and medical expenses.

Bla bla bla bla...
>What are tax rates and why were they made progressive.
If everything else remain conszant,Trump era deficits will come mainly put of flatten taxes rates, not spendings.

>thanks to Trump
Listen, jackass, the inherent doubling of the national debt every eight years on average, is built into our monetary system. People who bitch at Obama for doubling it are wrong. People who bitch about Bush for damn near doing the same are wrong. Our monetary system either collapses under Trump, or the debt increases by ~40% his first four years. Blame the bankers, not the *current* politicians.

Norway is one of the heaviest taxed countries in the world and the government is the biggest employer of the country. There's little to no chance of making it big there like in America

Oh my sweet summer child. Even if that were true, Jet fuel and club fees are only a tiny fraction of the bill.

The government accountability office estimated a presidential golf trip costs a total of about $3.6 million dollars once you add staff, security, and supplies.

idk, but I find it ironic the nog doubled it

did he?

More like
>New CEO takes over company with a billion dollar debt
>8 years later the debt is 10 billion
Maybe if you’re Enron that’s acceptable

literally forever. that "debt" is mostly private debt. so if i sell you a car and you owe me 30k for that car, then that adds to the "national debt." economists are fucking retarded.

The current administration is continuing the trend of conservatives exacerbating the debt in this country. Perhaps people will realize someday that top down doesn't work but I doubt it..

>American education

You're thinking of the Total U.S. Debt (which is 68 trillion).

I won't call you fucking retarded though, I'll let you do that to yourself.

You must be an economist then. That is US Treasury Securities. Total debt is much higher. Pic related is a proxy for total US debt.

You should have voted Bernie. More socialism would have solved your debt problems.

Don't worry. America will be fine. Keep fighting the internet race war. The economy is self sustaining and will take care of itself.

Denmark's corporate tax rate is much lower than America's. You just proved that higher tax rates aren't good for the economy

But you're-a-gay

>slowed the rate of bleeding
>rate clearly goes up once obama enters
what?

This

There's no reason we can't just rack up debt forever and ever. There's literally no consequences. It will never get called and it will never get paid. It will rise indefinitely

Then why are you so opposed to raising personal tax rates

And you just said "Norway" was one of the highest taxed countries - you can't have it both ways. Which is it?

never. the total debt in an economy is always significantly larger than the money supply due to compounding of interest. the mechanism that correct for this is the business cycle. since the modern money supply is entirely comprised of debt, eliminating it would only destroy the economy.
tl;dr
at every point in time the supply of money available is always smaller than the aggregate of principal and interest. there is no escape.

Inflation can be an issue, but as long as money is printed to fund supplies jobs it can be solved. Eventually we'll have to cull the overpopulation but we are nowhere near that.

Mugabe, is that you?

Ameritard can't read graphs.

>purposefully mixing budget surplus with debt
sage

>colgate doesn't understand the business cycle

Are you actually stupid enough to fall for the right-wing talking point that this graph is using to put quotes on "surpluses?"

A surplus means less spending than money taken in. Debt has interest. The surplus existed. It was not great enough to pay the interest on the debt, so the debt continued to increase.

That's factually just how the USA's budget works: the surplus/deficit is separate from the interest on the debt, because interest on the debt is not accounted for in the USA's budget.

Willful stupidity is what's wrong with the American right. Our budget works how it does. "Oh but you should include the deficit in the budget!" doesn't mean anything. Maybe we should. But we don't. So when someone says "budget surplus," they aren't including it because it isn't part of the budget. You can't just argue semantics and hope that everyone is too stupid to know that facts exist.

You want to know how I know you were under the age of 18 back in 2008?

Does that graph look cyclic to your muttbrain?

>A surplus means less spending than money taken in.
Yes.
>The surplus existed. It was not great enough to pay the interest on the debt, so the debt continued to increase.
So, as long as you don't count the interest payments as spending, there is a surplus. But you're going to pay those interest payments. In other words, you're talking about accounting fraud. There was no surplus.

>Deficit is how much the debt goes up.
Holy shit. No, it isn't. The debt is not connected to the surplus/deficit. The debt is the left-over from deficits, plus interest. A deficit is not added straight on to the debt, nor is a surplus subtracted from it.

80 billion? Fucking rookie numbers compared to Obama, who got $9 trillion in 8 years.

:-(

Incorrect. Surplus/deficit refers to the budget. Debt is not part of the budget. It's not "as long as you don't count." It's "it is not counted." Our budget is a real thing. It does not include the debt. These are facts. When someone says "budget surplus," they are not including the debt payments because the debt payments are not part of the budget.

less than 10 years with such speed.

then you will need either to start world war or to go into new world great depression.

80 billion MORE than Obama.

Learn to read numbnuts.

If he doesn't even understand what a deficit is, going into the fine details isn't going to help him. Stop being autistic.

you are too stupid to have this conversation with me. the money supply increases as well, genius. and the interest paid on debts is recycled back into the economy, moron. it's not stored in a vault. you dumb boi.

Bullshit. The government borrowed money, at interest, and paying those interest payments not optional. It has to pay out those debt. You are talking about accounting fraud. The spending in this case is spending to borrow money.

Deficit != national debt, brainlet.

>The government borrowed money, at interest, and paying those interest payments not optional.
Wrong. It is optional. That's why the debt goes up during years of surplus.

ITT whipped weak faggots defend their captors and salivate over taxes

Like usual, you brainlets don't factor in economic growth as a result of a more sane economic policy.

Do you have a problem understanding numbers? Look at the years on the chart.

I guarantee if those coupon payments stop going out, the dollar is going to crash. It is not optional. The debt is going up because the government is taking on new debt faster than it is paying the old debt off. Interest payments are part of the budget, regardless of how the government lists it.

Wrong. It flatly is optional. We don't pay it. They are not part of the budget.

You are trying to argue "how I think things should be accounted."

And that's nice. But it has nothing to do with facts.

You're like the retards who are so stupid that they encouraged Congress not to increase the debt ceiling, because they wanted to talk about what they thought the debt ceiling should be, instead of what it is. It doesn't measure how much debt we can have, it authorizes us to pay back the debt that we already do have.

The 1.5 trillion deficit increase estimate from the Republican party tax cut assumes that our growth gets doubled.

If growth doesn't double, that 1.5 trillion becomes much, much larger.

I wouldn't expect you to have read it though.

nice argument

Listen, fuckstick. Investors purchase US Treasury Securities based on the guarantee that those coupon rates will be paid and, at the end of the term, the principle will be redeemed. The US government has not defaulted on its financial obligations since 1971, with the Nixon Shock. The CBO also includes interest as part of the budget:

cbo.gov/system/files/115th-congress-2017-2018/reports/53286-mbr.pdf

Securities aren't the debt... holy shit. You're actually trying to research to get this stupid?

Define securities, then, faggot.

Don't bother. These retards don't understand the first thing about debt (hint: it's another fag's asset)

>t.Banker
You deserve the rope like everyone else in the business. Only a new start after a collapse and 100 years of war is acceptable