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The US's national debt spiked $1 trillion in less than 6 months

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posted on Feb, 27 2018 @ 02:23 AM
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1 year and 2 months in under the Trump administration. 8 years on with the GOP in control of congress. What do we end up with?


On September 7, 2017, five-and-a-half months ago, just before Congress suspended the debt ceiling, the gross national debt stood at $19.8 trillion.

At that time, I was holding my breath waiting for the gross national debt to take a huge leap in a single day – as it always does after the debt ceiling gets lifted or suspended – and jump to the next ignominious level. It sure did the next day, when it jumped $318 billion.

And it continued. Over a period of 8 weeks, the gross national debt jumped by $640 billion. Four weeks after that, it had ballooned by $723 billion, at which point Fed Chair Yellen – whose cheap-money policies had enabled Congress to do this for years – said that she was “very worried about the sustainability of the US debt trajectory.”


Further;


That debt ceiling was suspended on February 8, at which point the gross national debt began to surge again, adding $1 trillion ($960.4 billion rounded to the nearest 100 million), a 5% jump in the gross national debt in just 5.5 months

www.businessinsider.com.au...

That's a mighty jump right? Take in mind this doesn't include the future deficits and cost set to incur as the result of this administrations policies. The $1.5 trillion dollar tax cut heavily favoring the wealthy and corporations, passed last year. The other $4.4 trillion budget proposal introduced to congress by the administration. The military is set to get a hansom $195 billion increase to it's annual budget over the next two years. We're just spending like anything.

Maybe it's time to get this gang out again? I mean they out in force in Obama's first year in office ya know? The Tea parties, the Ron Pauls.





Members were out in force on here too. What's happened? What's changed? I wonder. I really do.




posted on Feb, 27 2018 @ 02:28 AM
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Because it is "the right person" to do so, it is "the right thing" to do. Bias, you know?



posted on Feb, 27 2018 @ 02:50 AM
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who is this money owed to exactly?

how much was the increase under Obama and Bush, vs the increase in trumps almost sophomore, freshman year

maybe there is more light at the end of the tunnel being dug by Trump than the past 2 presidency. is it too early to start crying 'where's the outrage' at this juncture in the presidency?
edit on 27-2-2018 by odzeandennz because: (no reason given)


+4 more 
posted on Feb, 27 2018 @ 02:51 AM
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the gross national debt stood at $19.8 trillion.


And how did we get there?


The debt ceiling has been raised on three occasions under President Barack Obama.
The debt ceiling was $11.315 trillion when the Democrat was sworn into office in January 2009 and increased by nearly $3 trillion or 26 percent by summer 2011, to $14.294 trillion.
Under Obama the debt ceiling increased: by $789 billion to $12.104 trillion in February 2009, Obama's first year in office, under the American Recovery and Reinvestment Act;
by $290 billion to $12.394 trillion ten months later, in December 2009; and by $1.9 trillion to $14.294 trillion two months later, in February 2010.


Military spending?

www.forbes.com...# 10dd551665cd

Washington - Trump 'Historic' Defense Increase Is Barely Above What Obama Planned -- And Faces Similar Obstacles


Not one thread from you on Obama's massive increase of the national debt, but NOW you're all OMG about it?

But "it was Bush's fault"....right?



posted on Feb, 27 2018 @ 02:56 AM
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Ohh.. look.. wall of meat!



posted on Feb, 27 2018 @ 03:01 AM
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a reply to: Southern Guardian


Got it, republican in charge time to freak out over spending, but how silent were you while the previous administration funneled money directly into the stock market (something that once upon a time was known as a poor indicator of economic health), rather than doing something silly like I don't know infrastructure spending.
You know something that might have been more beneficial in the long term rather than propping up the ultra rich in the stock market.



posted on Feb, 27 2018 @ 03:06 AM
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originally posted by: odzeandennz
who is this money owed to exactly?

how much was the increase under Obama and Bush, vs the increase in trumps almost sophomore, freshman year

maybe there is more light at the end of the tunnel being dug by Trump than the past 2 presidency. is it too early to start crying 'where's the outrage' at this juncture in the presidency?





Good question, who or what is owed 20 trillion dollars? Who are these predators that lurk behind the scenes....



posted on Feb, 27 2018 @ 03:13 AM
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a reply to: Southern Guardian

Setting aside the partisan...we're all sitting on national debts that previous generations would scarcely believe. In the US case, it's possibly beyond fixing by conventional means. Quantitative easing and austerity are temporary in the modern climate. People don't like them.

The popular new approach is apparently to spend our way out of debt. Spend, borrow, spend and hope the next generation of economists invent a way to reduce a quadrillion debt in 4 to 8 years.


In this me, me, me, now, now, now world, it's hard to see how anyone will vote to dig deep and save their way out debt.



posted on Feb, 27 2018 @ 03:15 AM
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a reply to: Kandinsky

I remember as a kid when everyone freaked over a report saying that every adult in the US would have to pay 14000 to pay off the debt. (working off memory)


Now that's looked upon as marvelous levels of restraint in spending.



posted on Feb, 27 2018 @ 03:19 AM
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a reply to: DAVID64


But "it was Bush's fault"....right?


Well you're blaming Obama for this so who's continuing the cycle of whataboutism?

By the way, yes the debt ceiling was raised 3 times during Obama's 2 terms. On those two occasions this was under a GOP majority congress.


Under Article I Section 8 of the United States Constitution, only Congress can authorize the borrowing of money on the credit of the United States. From the founding of the United States until 1917, Congress directly authorized each individual debt issued. To provide more flexibility to finance the United States' involvement in World War I, Congress modified the method by which it authorized debt in the Second Liberty Bond Act of 1917.[3] Under this Act, Congress established an aggregate limit, or "ceiling," on the total amount of new bonds that could be issued.

en.wikipedia.org...

Just a bit more of historical fact. The debt ceiling was raised under Reagan 18 times and under Bush 7 times. More than happy to play whataboutism but that could go on all night.

Now what about this administration, this president and this congress? Or do the rules not apply to them all of a sudden?



posted on Feb, 27 2018 @ 03:20 AM
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a reply to: Irishhaf

Same here. It's like a TV show on families in debt. One of those where the experts go in and find dozens of maxed out credit cards, overdrafts, wardrobes full of expensive clothes with price tags still on, brand new lease cars in the driveway.

The family are so used to swimming in debt it's become normal. "But everyone is doing it!" Says the couple as the camera closes in on tearful eyes and generic, sad keyboards play in the background.



posted on Feb, 27 2018 @ 03:23 AM
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originally posted by: Kandinsky
a reply to: Irishhaf

Same here. It's like a TV show on families in debt. One of those where the experts go in and find dozens of maxed out credit cards, overdrafts, wardrobes full of expensive clothes with price tags still on, brand new lease cars in the driveway.

The family are so used to swimming in debt it's become normal. "But everyone is doing it!" Says the couple as the camera closes in on tearful eyes and generic, sad keyboards play in the background.








I thought the personal debt was how they keep people going to work, the debt glues the slave to his work.



posted on Feb, 27 2018 @ 03:24 AM
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a reply to: DAVID64



But "it was Bush's fault"....right?


Clinton’s fault.




posted on Feb, 27 2018 @ 03:29 AM
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originally posted by: hopenotfeariswhatweneed

originally posted by: Kandinsky
a reply to: Irishhaf

Same here. It's like a TV show on families in debt. One of those where the experts go in and find dozens of maxed out credit cards, overdrafts, wardrobes full of expensive clothes with price tags still on, brand new lease cars in the driveway.

The family are so used to swimming in debt it's become normal. "But everyone is doing it!" Says the couple as the camera closes in on tearful eyes and generic, sad keyboards play in the background.








I thought the personal debt was how they keep people going to work, the debt glues the slave to his work.


Perhaps we're all working for the Chinese and the other entities who own the majority of the debts?

Who Owns the U.S. National Debt? The biggest owner is YOU!



posted on Feb, 27 2018 @ 03:33 AM
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Debt is a form of slavery, being a sign that someone is in servitude to another. Ironic that the country with the highest debt of any other is called "the land of the free".



posted on Feb, 27 2018 @ 03:36 AM
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The govt is like a crazy spendthrift wife that got hold of your credit card.



posted on Feb, 27 2018 @ 03:38 AM
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a reply to: Southern Guardian

This graph, which doesn’t show Trump’s figures yet, shows the debt rising at a pretty incredible rate from Bush onwards.

www.truthfulpolitics.com...



posted on Feb, 27 2018 @ 03:38 AM
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Due to inertia, it takes longer for an aircraft carrier to stop and reverse, than a tugboat.

Obama had our huge USS America heading in the wrong direction, at break-neck speed.



posted on Feb, 27 2018 @ 03:54 AM
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a reply to: Kandinsky

Interesting, it will take me a bit to get my head around those numbers.



posted on Feb, 27 2018 @ 04:22 AM
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originally posted by: hopenotfeariswhatweneed

originally posted by: odzeandennz
who is this money owed to exactly?

how much was the increase under Obama and Bush, vs the increase in trumps almost sophomore, freshman year

maybe there is more light at the end of the tunnel being dug by Trump than the past 2 presidency. is it too early to start crying 'where's the outrage' at this juncture in the presidency?



Nobody is really owed it. A man with no money is a nobody. Someone realized that long ago.



Good question, who or what is owed 20 trillion dollars? Who are these predators that lurk behind the scenes....



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