Nobody cares anymore. People are working, resources are being extracted, created and traded, economies are rolling. Money is there to facilitate that, but on its own it's pretty much worthless. Just wish inequality wasn't so fucking huge.
US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
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Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#12The US National Debt being viewed like a bad loan is a load of BS - that's a sum invested and leveraged against the projected continued growth of the country and, honestly, nobody on earth has the ability to forcefully collect from the US government.
And even if they could collect, its in US Dollars, which they can print.
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#13Flat tax, cut spending, cut welfare programs, fire everyone in the government who overspends the budget during their term. Problem solved.
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#14The US National Debt being viewed like a bad loan is a load of BS - that's a sum invested and leveraged against the projected continued growth of the country and, honestly, nobody on earth has the ability to forcefully collect from the US government.
It's a bad analogy - it's similar to how in the general world people use analogies of national accounting to a credit card. Also a website called truthinaccounting also sounds super fringy/cringey - tough to take seriously (sorry).
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#15This is more a discussion of semantics than about the amount itself. The way I read the statistics is that the current debt is $28T of money that is already spent while the quoted debt of $146T is the amount of money needed to be spent to fill full current promises and expenses . It's interesting that since the USA got off the gold standard in 1971[1], and thereby all countries that had a currency backed by dollars,…
> My parents are in their 70's and they still have furniture that was (second hand) given to them when they got married. Can you imagine an piece of IKEA furniture being used daily and lasting for >40 years? Two answers: 1) Yes. Very, very easily. For at least some IKEA furniture. 2) I somehow doubt that second hand furniture was from the 'IKEA of that day'.
> I somehow doubt that second hand furniture was from the 'IKEA of that day'.
I think that's the parent poster's point. Presumably his parents are not significantly wealthier in relative terms than he was, but they could afford more premium furniture than most people today do.
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#16This is more a discussion of semantics than about the amount itself. The way I read the statistics is that the current debt is $28T of money that is already spent while the quoted debt of $146T is the amount of money needed to be spent to fill full current promises and expenses . It's interesting that since the USA got off the gold standard in 1971[1], and thereby all countries that had a currency backed by dollars,…
> thereby all countries that had a currency backed by dollars, the average household income has risen 5x but the price of goods like a house have gone up 10x
Real personal income has consistently gone upwards.
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#17The US National Debt being viewed like a bad loan is a load of BS - that's a sum invested and leveraged against the projected continued growth of the country and, honestly, nobody on earth has the ability to forcefully collect from the US government.
You can see this in their article on Chicago, too.
https://www.truthinaccounting.org/news/detail/chicago-in-deb...
"Chicago in debt despite balanced budget and federal aid"
Well, yeah. I have a balanced household budget and a big mortgage (debt). It works fine.
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#18Invisible works require invisible funds. Don't worry about it, it's not good for you.
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#19I remember when I was a kid and the number was 4T going soon to 5 and it was like actually something democrats and republicans wanted to tackle. What the fuck did we do?
People got old and wanted social security and medicare
The reality is that the Baby Boomers only cared about the deficit when they were paying taxes. Now they aren't (retired) so f it, let's spend on us as much as possible until we die.
Re: US Published National Debt: $28T. The Truth: $146T. Each Taxpayer's Share: $951k
#20This is more a discussion of semantics than about the amount itself. The way I read the statistics is that the current debt is $28T of money that is already spent while the quoted debt of $146T is the amount of money needed to be spent to fill full current promises and expenses . It's interesting that since the USA got off the gold standard in 1971[1], and thereby all countries that had a currency backed by dollars,…
Who cares though? Do you really want to keep something like the same pieces of furniture your whole life? Sounds depressing. People like buying new stuff.