In a mere two years, the United States debt has massively grown. In fact, the amount of debt the US incurred equaled the size of the entire Brazilian economy.
U.S. government debt is on track this year to rise at the fastest pace since 2012, reported the Los Angeles Times. The strong yet quickly weakening economy is failing to keep pace with the wave of red ink that’s rising under the Trump administration and there appears to be no end to the spending in sight.
The total public debt outstanding has jumped by $1.36 trillion, or 6.6%, since the start of 2018, and by $1.9 trillion since President Trump took office, according to the latest Treasury Department figures. The latter figure is about the size of Brazil’s gross domestic product.
As of Monday, the nation’s debt stood at a record $21.9 trillion. The borrowing is needed to cover a budget deficit that expanded by an estimated $779 billion in Trump’s first full fiscal year as president, the widest fiscal gap in six years, since Barack Obama’s term. By the end of Trump’s first term, the debt is expected to rise by $4.4 trillion despite historically low unemployment, relatively low interest rates and robust growth.
In other words; the United States is actively committing suicide.
https://www.shtfplan.com/headline-news/america-is-committing-suicide-over-the-past-12-months-the-u-s-national-debt-has-increased-by-1-271-trillion-dollars_10022018
Debt has become the default, but at some point, the entire system will crumble.
https://www.shtfplan.com/headline-news/historic-debt-is-at-the-core-of-our-economic-decline_12102018
Government funding for some agencies runs out after December 21 barring an agreement over the budget, while the statutory debt limit has been temporarily suspended through March 1, though the Treasury can take measures to keep paying the government’s bills for a few more months.
Without extreme debt conditions, economic downturns cannot be created (or at least sustained for long periods of time). According to the amount of debt weighing down a system, banking institutions can predict the outcomes of certain actions and also influence certain end results. For example, if the Fed was interested in conjuring a debt based bubble, a classic strategy would be to set interest rates artificially low for far too long. Conversely, raising interest rates into economic weakness is a strategy that can be employed in order to collapse a bubble. This is what launched the Great Depression, it is what ignited the crash of 2008, and it is what’s going on today. –Brandon Smith, Alt-Market.com
“The total public debt outstanding has jumped by $1.36 trillion, or 6.6%, since the start of 2018, and by $1.9 trillion since President Trump took office”….All that money, and no wall.!!!
They are saying the wall is in the defense budget.
If that is true then Trump outslicked them again.
Hey,but we have the right president.He certainly knows how to deal with bankruptcies.lol
DEBT is the worst 4-letter word. Young folks should be repeatedly warned that DEBT will ruin your life. Avoid it like the plague. The parade-of-idiots in Washington D.C. have caused this national debt problem. Stupor Shumor and Nazi Polowsy continue to support policies that prevent the President from CLEANING THE SWAMP. It’s simple, reduce the size & scope of the Fed. Govt. to those tasks allowed by the Constitution. There is no better and appropriate way of CLEANING THE SWAMP.
The destruction is bipartisan in origin
“In other words; the United States is actively committing suicide”.
I disagree. Democrats and GOPe are committing suicide, I have stood aside and will watch.
Student debt is larger than credit card debt.
It is time to stop giving out loans for college.
Freeze the interest on college loans already made. Have the principal paid down.
College students don’t understand how compound interest can devour them. Schools never teach children the danger of compound interest.
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The way to figure your ability to pay a mortgage was simple.
The mortgage plus taxes should not exceed one week’s paycheck.
By this standard, which was the norm at one time, almost all homeowners are in over their heads.
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I was able to refi my mortgage two years ago. 30-year fixed, 2.875 fixed rate. I will never see those rates again, in my lifetime.
With PITI my payment is $1000 a month for a 2 bd, 2 BA, 2 car, wood-construction, stand-alone home. You can’t rent a crappy 2-bedroom apartment with uncovered parking for that price in my area.
I hate paying interest. But in this case, I always overpay and have from day one.
People are not taught to live within their means, or beneath them. I do. I can sleep at night.
If the debt massively increases and inflation doesn’t follow suit then the economy is collapsing, or has collapsed at a rate close to the increase in debt (or thereabouts).
Debt doesn’t crush the young. When the currency eventually crashes, those who are able to work may have the best deal, as long as wages keep pace with inflation. However, those who can no longer work and depend on ‘savings’ or an entitlement payment, will find that their savings or government check no longer have any purchasing power. This debt will crush the elderly and infirm. The youths will be fine. Also, has anyone seen Sara Conner?..asking for a friend
Wait…I thought the Tea Party was gonna fix this? You hear NOTHING from the Tea Party any more. I guess they got absorbed by DC.
“We can balance the budget very quickly…I think over a five year period.” DJT 1-12-16. lol.
Indigenous groups form. TPTB infiltrate these groups and run them off a cliff. The same thing happened to Occupy Wall Street. The NRA is leaving itself vulnerable to this exploitation with its divergence from pure Second Amendment issues. Now they tend to carry the Republican Banner on issues outside of their purpose.
Weren’t those fiscally conservative, responsible Republicans in charge the last two years?
Who was in charge of both house and senate as well as the White House? 2 years it took Paul Ryan who will gladly hand the gavel over since he has been nothing short of a failure as Speaker.
demican/republicrat, two ends of the same turd.
What would anyone expect. You can’t cut taxes and keep upping spending. It won’t effect people my age, but our grandchildren are doomed. Eventually they are going to have to pay back the money and will screw the future generations in the process. My guess is, it will keep going as is until the entire U.S. collapses in on itself.
The money will never be paid back. The government will eventually default. There will be an economic collapse like the USSR experienced. At that point, the government will be changed, will not be able to peddle their worthless bonds, and will only be able to spend what they can tax. This will not be pleasant,and what government evolves out of it is unknown.
JIM….what will happen WON’T Be a change in the form of Government…It will be the end of the PRIVATELY HELD CENTRAL BANK. It will be REPLACED by a Gold-backed currency instead of printing Fiat currency out of thin air, and enslavement of the American Taxpayer to the interest that is attached to the fictitious Federal Reserve Note, which just represents “DEBT”
Who is shocked by this? Obama was routinely increasing the national debt over a Trillion a Year.
When Obama left office the national debt was a 20 Trillion. So while it is disastrous that this pattern continues under Trump, the pace of increase has actually slowed down.
I say END the FED and Default on it. What are the Rothschilds going to do about it?? Arrest them!!! As long as America has MILLIONS of armed citizens and veterans who are willing to die to defend against Foreign and Domestic ENEMIES…such as the Rothschild’s and their collectors, what are they going to do?
Jas, you obviously don’t understand a single thing about VERY basic Macro- Economics . You CAN cut taxes and at the same time up your spending, while making a dent in National Debt. Ronald Reagan did EXACTLY that.
By Cutting taxes for both the business sector AND cutting personal income taxes will put more money in the hands of the people and they will spend more, stimulating the Economy. If the Economy is stimulated by more spending this affects businesses…. With increased demand Employers will spend more on their businesses including hiring people. ALSO, new businesses will form BECAUSE of increased demand and tax incentives.
Bottomline, When More people are hired with better paying jobs then those people will pay income taxes. In addition, the businesses make more money due to increased output, thus increasing business income and therefore they will pay more in taxes.
IF Government reduces its waste and applies more tax revenue towards the debt, it will reduce the debt.
Get Educated!