US debt deal

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ifishok

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Please call your representatives in the house and kindly let them know if you support or oppose this four trillion dollar increase in the national debt. It’s already at 31.8 trillion dollars now and goes up one million dollars in just about 30 seconds. The number to the house is below, thanks.

https://www.usdebtclock.org/

202-225-3121
 

OK Corgi Rancher

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To quote or paraphrase an evil, old witch... "At this point, what difference does it make?"

We can't pay what we owe anyway. Out debt is roughly more than 1.5 times our GNP. We really can't produce enough to pay that. Not with the service type economy we're trending towards. The further we move away from manufacturing, the harder it's gonna be to pay this and sustain this level of debt.

We will never be able to pay this off or even pay it down substantially. We'll owe almost $11T just in interest over the next decade.

F**k it... Spend it like it's free. That's what they're gonna do anyway.
 

John6185

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I don't' know al ot about anything but life but this sounds like someone wants us to go bankrupt. The value of a dollar is a a low point, probably the lowest in decades. I wonder if is it better to pay cash now for a large purchase or finance the purchase and repay with worthless dollars...if they are still the remaining currency.
 

ifishok

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I agree with that, the USA is being dragged into a banana republic economy, and it appears both parties are in on it. I’m not sure what we can or need to do other than calling our representatives and voicing our opinions, then voting them out if they go the wrong way.
 

BillM

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To quote or paraphrase an evil, old witch... "At this point, what difference does it make?"

We can't pay what we owe anyway. Out debt is roughly more than 1.5 times our GNP. We really can't produce enough to pay that. Not with the service type economy we're trending towards. The further we move away from manufacturing, the harder it's gonna be to pay this and sustain this level of debt.

We will never be able to pay this off or even pay it down substantially. We'll owe almost $11T just in interest over the next decade.

F**k it... Spend it like it's free. That's what they're gonna do anyway.
As an exercise in civics when I was teaching a US Government class in 2005 or 2006, I had the seniors in my classes calculate their personal share of the National Debt. At the time, it was about 7 trillion dollars, IIRC. Came to about $30K for every man, woman, and child in the country. Not every taxpayer, just every citizen. A couple of years ago, I recalculated it myself, and got over $200K per man, woman, and child. That was while President Trump was in office, and it looked like we might be able to start reining in the National Debt. What we are doing is kicking that can of debt down the future, to land on our kids, and grand-kids. Just about what Congress has always done. At this point, the only solution I can see is a 10Km dinosaur killer asteroid landing on Washington, D.C. We would have to completely overhaul our form of government, and with things as they are, that will not be happening in our favor.

I'd be surprised if half of our population is taxpayers. So whatever that actual amount is now, double it, at least...
 

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