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U.S. Debt Tops $20T

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posted on Sep, 12 2017 @ 02:47 AM
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The federal debt officially surpassed $20 trillion for the first time on Friday, as the debt subject to the legal limit set by Congress jumped $317,645,000,000 in one day--following President Donald Trump's signing of a spending-and-debt-limit deal that will fund the government through Dec. 8.

www.cnsnews.com...

Meanwhile, I've yet to see ANY plan to reduce spending and paying down of our debt from ANY party that has been in office.

It's all only ones and zeros....right?





posted on Sep, 12 2017 @ 03:10 AM
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Since money is printed on paper, it's true value is meaningless. They could just say the word and that number becomes a zero. It's not like they would lose anything. It comes out of thin air. Now we want to move to a digital currency...you f#ing kidding me...

Idiocurrency is what I'm calling it now...just invented a word...

edit on 12-9-2017 by ConscienceZombie because: To be creative.



posted on Sep, 12 2017 @ 03:16 AM
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originally posted by: ConscienceZombie
Since money is printed on paper, it's true value is meaningless. They could just say the word and that number becomes a zero. It's not like they would lose anything. It comes out of thin air. Now we want to move to a digital currency...you f#ing kidding me...

Idiocurrency is what I'm calling it now...just invented a word...


I thought Trump said he was paying off the debt?

Maybe he intended to use idiocoins, bills, whatever they are?



posted on Sep, 12 2017 @ 03:30 AM
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a reply to: JinMI
I wonder why you feel deeply about it. Investors all over the world are still happy to invest in the US, so what's the problem? They are not ready to invest in Russia, for instance, so Russia has a problem, not the US.

Why care about your debt if you can print more fiat papers and export your inflation at the same time? And if something goes wrong, just start another war/genocide/sanctions.



posted on Sep, 12 2017 @ 03:40 AM
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a reply to: JedemDasSeine

Simple reasoning is that my money, the literal sweat from my brow is being managed in such a way that would not be permissible, dare I say even legal, to do under my own roof with the remaining dollars. If that weren't enough, it's only a fiscal year away before they want even more to mismanage.

I'm not alone in these views.



posted on Sep, 12 2017 @ 03:41 AM
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a reply to: JedemDasSeine

Oh yeah huh?
Good point.

I say we invade Antarctica next.
We can use all that ordinance without hurting anyone, and we can nation-build on the ice it's even more expensive.

I know it's not the same as blowing up actual humans but, won't it work at keeping the economy going just as good?
We can claim all of the natural resources while we're at it. Win-win.



posted on Sep, 12 2017 @ 03:48 AM
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originally posted by: JinMI
a reply to: JedemDasSeine

Simple reasoning is that my money, the literal sweat from my brow is being managed in such a way that would not be permissible, dare I say even legal, to do under my own roof with the remaining dollars. If that weren't enough, it's only a fiscal year away before they want even more to mismanage.

I'm not alone in these views.


But they are gods and we are mere slaves.
What are we going to do? Vote?
Hahahhaahahahah

No, look, just work harder.
We love paying taxes.

This govt represents us.
We are horrible people, so therefore we get horrible govt.
It's fate, destiny, kismet.
They own us. We are slaves.

So really you can dislike it all you want.
But go back to work. Obey.



posted on Sep, 12 2017 @ 03:52 AM
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a reply to: JinMI

That was sad.

My sarcasm went from silly dumb humor (the last few hours of my insane posting) to very jaded cynicism.

Sorry.
But hey, you like working all the time because it makes you a 'man' right?

It aint so bad after all.
You'd work for free if it came down to it wouldn't you?
Like if there were no bills and food was free.

Hmmm, maybe pure socialism would work after all?



posted on Sep, 12 2017 @ 04:05 AM
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a reply to: JinMI

The debt that America has accrued over the years, will NEVER be paid off, by ANY government which desires that the dollar remain in existence. Why?

Because the currency as it stands today could not exist without the debt against which it was first raised.



posted on Sep, 12 2017 @ 04:05 AM
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a reply to: muzzleflash




Sorry. But hey, you like working all the time because it makes you a 'man' right?


Sounds like you're speaking directly to my *ahem* privilege.



posted on Sep, 12 2017 @ 04:16 AM
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a reply to: TrueBrit

I read someplace that one of the reasons Kennedy was killed was for trying to make the dollar untaxable, and the bankers didn't like that very much so they off'd him. What if each individual decided to make their own currencies? It's been done before.
edit on 12-9-2017 by ADSE255 because: (no reason given)



posted on Sep, 12 2017 @ 04:45 AM
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a reply to: ADSE255

Really? Think about that logically for a moment, would you? If the dollar was an untaxable currency, then there would be no way for the government to fund itself and its various processes. It makes no sense for Kennedy to have been thinking any such thing, especially given that he was the one who proposed the effort to go ahead and land on the Moon, a feat which one does not even consider, unless one has a healthy supply of funds with which to make the necessary purchases and source the required materials.

And on the matter of currency itself, and why people do not just make their own, on every occasion where someone attempted to make a currency to rival the dollar, on American soil, that person wound up in prison, bankrupt, or both, and at a hell of a pace, because the Secret Service (which, in case you were not aware is a Treasury Department creature, having been started to protect currency flow and prevent counterfeiting), tend to be after persons involved in such things, like wolves after prey animals.

The only way for the US government to exit its debt situation, is one of two options:

1) They default on their debts to banks and other nations.

2) They default on their debts to the people.

Neither one will have pretty and comfortable outcomes for anyone involved, but only one of these would be remotely the right thing to do for its people.

And both of these things fail to address the key issue here, which is that for every dollar in existence, there are two dollars of debt, and as long as their is one dollar, there will still be two dollars of debt, until the dollar no longer exists, at which point, someone will still owe someone, one dollar. Look it up! They designed a cluster bang in 1913 which there is no comfortable or safe answer to. Only radical and risky things, like totally ceasing to operate on a currency basis, and switching immediately to barter and charity instead, could ever remove the debt burden entirely.

Understand, even if there were enough dollars in circulation to pay off the debt, doing so would cause the currency to cease to exist at all.
edit on 12-9-2017 by TrueBrit because: (no reason given)



posted on Sep, 12 2017 @ 06:13 AM
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the british pound had a spike in the market today due to the mess that is brexit, inflation is ramping up meaning investors can make money quickly.
brexiteers point to the already wealthy getting richer as a good thing and a sign brexit can work, for the already wealthy, while the rest of us can't afford pot noodles, cheers nige.

trump promised to reintroduce the reagan flat taxes which broke the american economy and promised to blow trillions of dollars on a wall, the debt was only ever gonna get piled on , it's what many here wanted.

it's not as if the democrats had any grand idea to wipe the debt out either mind you.

now, keep telling yourself capitalism is the only way and read some fake news about black people being allowed to live and how that's the fault of socialism.



posted on Sep, 12 2017 @ 06:15 AM
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This is depressing. Our country is fighting a losing battle. Giving everyone what they want won't work if it has no way of being paid for. I see an impending collapse and what some of us have worked hard all our lives to accumulate going to the government to pay our countries debt. I think that the cost of our countries healthcare has driven this country almost into bankruptcy both directly and indirectly. Exporting our manufacturing jobs sure did not help either, we buy way too much of the stuff we need from other countries. A service oriented economy cannot survive long.



posted on Sep, 12 2017 @ 06:30 AM
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a reply to: rickymouse

THE COST OF ITS HEALTHCARE?

Get real rickymouse! The US government spends a great deal more on devising, developing acquiring, and distributing methods of ending life, than it ever does on saving it!



posted on Sep, 12 2017 @ 06:42 AM
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It's not gonna matter when 2018 hits if this happens, we're all gonna be screwed.
www.abovetopsecret.com...



posted on Sep, 12 2017 @ 06:51 AM
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a reply to: JinMI

Who do we owe that debt to?

Any idea of the breakdown?



posted on Sep, 12 2017 @ 06:56 AM
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You may not be able to print your own legal tender fiat currency, but you can print your own "money" legally, it's done all the time.

Although you aren't legally allowed to create a private currency, scrip and voucher systems can be used as an alternative to out right bartering. Coupons, tokens, vouchers and scrips are legal if they don't look like the official currency or are minted coin from metals. They have been and still are being used like cash in certain communities and admittedly there are problems with getting people to use them, but if the government eliminates physical currency, you could go this route on a local or regional basis.

I can see an open air market scenario where this could work. Exchange goods with intrinsic value for scrips, like say metals, then use the scrips for purchases within the open air market. Any scrips not used could be exchanged for the goods that back the scrips in circulation. Items that have a limited shelf life are normally not used as an exchange commodity. I could see using U.S. minted coins, like pre-1981 copper pennies or current nickles, as an exchange commodity. esp. if the government decides to eliminate the penny like they want to eliminate the larger denominations ($100 and $50 bills).

Scripts

Vouchers

Scrips are often used for fundraising activities. Here is a website that offers this service.

Shop with Scripts

Many companies offer company scrips, like Disney Dollars. There is plenty of historical examples of scrip and vouchers being used.

There are other "currencies" like bitcoin, of course that is a cashless deal, and foreign fiat money, there are a number of alternatives to using U.S. dollars as currency.



posted on Sep, 12 2017 @ 06:56 AM
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a reply to: Gryphon66

I'm sure you already know the answer but I'll humor you for discussions sake.


The top holder by far is U.S. citizens and American entities, such as state and local governments, pension funds, mutual funds, and the Federal Reserve. Together they own the vast majority -- 67.5% -- of the debt. Foreign nations only hold 32.5% of the total.

money.cnn.com...



posted on Sep, 12 2017 @ 07:06 AM
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a reply to: JinMI

So, over two thirds of our "debt" is little more than an accounting measure? Another bogeyman?

Thanks, carry on.



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