U.S. Debt Hits $40T as America's Borrowing Binge Continues • Hacker News Board

Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues

#181

Post by andriy_koval » Thu, Aug 20, 2026, 5:37 PM UTC

skeledrew wrote: post #103

And who's going to hold the US responsible for repayment? Way I see it, US has the power to just tell any creditor that they won't be repaying, whether through structuring it as some economic package or just straight up saying go suck it. The former's been done before (1933); maybe eventually we'll see the latter, if a nation has the balls to ask. And talking about it is pretty pointless, like talking about how wet y…

> And who's going to hold the US responsible for repayment?

untrivial (vast majority) of debt holders are US corps, banks and citizens.

Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues

#182

Post by andriy_koval » Thu, Aug 20, 2026, 5:39 PM UTC

odyssey7 wrote: post #104

What if we viewed national debt like CPI? It’s not that it’s ridiculously higher now, it’s that money works differently now. What used do seem implausible is now accepted as normal, and tough luck if your income and wealth fell behind / didn’t keep pace.

the scary part is how much they spend from budget to service debt and pay interests

Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues

#183

Post by eudamoniac » Thu, Aug 20, 2026, 6:12 PM UTC

fragmede wrote: post #40

qzx_pierri wrote: post #32

Earlier quoted context omitted.

[flagged]

When things are monitored to such a degree that a startup I was at couldn't bring doughnuts to a meeting because NASA was gonna there and that could possibly be a bribe, I don't know about efficient, but there's a reason why DOGE couldn't really find any waste.

Mate, things being monitored to that degree is the waste.

I've worked in government. Working in government will immediately disabuse any expectations of efficiency.

Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues

#184

Post by rhelz » Thu, Aug 20, 2026, 6:25 PM UTC

frogperson wrote: post #28

rhelz wrote: post #3

By the time Trump leaves office, the whole federal government will be completely trashed, up to and including the East Wing of the White House being torn down to a hole in the ground. I've never felt so alienated from the leaders of my industry, from my politicians, and from my fellow citizens. Ya'll should have known better. It is the information age, all ignorance is willful ignorance.

Citizens United ruined the great american experiment. if you have seen the chart of campaign financing since CU, you would understand. Politicians have zero need to represent citizens because they know unlimited funds are available for marketing to keep/earn your seat. America simply is no longer a democracy or representative democracy.

// America simply is no longer a democracy or representative democracy. //

Well, that's the kicker. We actually did vote him in. TWICE. It would be great if we could blame some cabal or coup or something. It would get us off the hook.

But the sad fact is that Trump--after sending cop-killing goons to the capital to try to steel the last election--we voted him in by a margin of 53%.

We have no one to blame but ourselves.

Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues

#185

Post by myvoiceismypass » Thu, Aug 20, 2026, 6:28 PM UTC

CursedSilicon wrote: post #45

mikestew wrote: post #43

Earlier quoted context omitted.

"Why u surprised, bro? Project 2025, duh!" meme needs to die, it's a lazy answer. You know full well what OP is talking about. Where's the $2 gasoline? Why does the debt keep going up with the party of fiscal restraint in charge? No more foreign wars, eh? Etc. There's nothing wrong with reminding folks what was said on the campaign stump.

Why remind people of the lies? We all knew they were lies. And the people who believed the lies will not have their minds changed There's a 30% bedrock of America that appears to be simply broken beyond repair. That's his permanent voting and approval base

Nearly 50% (49.8) of all voters were either duped by the lies or totally okay with the lies (or some combo of both). Over 77 million Americans.

Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues

#186

Post by HDThoreaun » Thu, Aug 20, 2026, 7:07 PM UTC

webninja wrote: post #173

pickleglitch wrote: post #165

I feel like the media is anticipating a new Democrat controlled congress, and so they are starting to bang on the national debt panic drum in preparation. Not that the debt isn't a problem, and $40T is certainly a milestone, but if the dems do somehow get back in power I'd bet $40T that we will all be treated to endless op-eds about how we have to do austerity because the debt is out of control. The military will sti…

It's starting to feel hopeless. A decade of party rotations and this issue still exists. The fiscally liberal will spend and the fiscally conservative aren't being fiscally conservative. How come we no longer hear about DOGE? How long until 20% of all tax revenue goes just to interest on the debt?

There is no fiscal conservative option in the US at this point. The republicans are just right populists now

Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues

#187

Post by HDThoreaun » Thu, Aug 20, 2026, 7:10 PM UTC

Gud wrote: post #127

oivaksef wrote: post #58

They need to cut your taxes and raise everyone elses. The US needs the binface party as a credible 3rd choice.

What the USA needs is more decentralisation and direct democracy. Why has the federal state accumulated $40T debt?

Direct democracy is exactly how you get fiscal policy of wracking up massive debt. Voters will never choose to balance the budget

Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues

#188

Post by HDThoreaun » Thu, Aug 20, 2026, 7:13 PM UTC

insane_dreamer wrote: post #112

brought to you by the "party of fiscal responsibility"

And democrats were the party of slavery, these things change since there are only 2 parties in the country

Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues

#189

Post by cosmicgadget » Thu, Aug 20, 2026, 7:31 PM UTC

DoesntMatter22 wrote: post #76

epolanski wrote: post #54

Earlier quoted context omitted.

Trump, 1st term, added 24% of GDP worth of debt. That's more or less the same number of Obama and Bush, but they served two terms each. In his second term, he's already added 11% in a record 19 months.

What's the difference? Everyone involved has been completely reckless with the debt. You think a democrat will somehow stop spending? Both parties are super happy to drive the car off the cliff

Well, the last president to steer the car away from the cliff came from one party, the other is currently mashing the accelerator toward it.

And that is without considering things like invading Iraq and Afghanistan, creating the global financial crisis, or turning on the money printer at the start of covid.

If you look at this information and say, "no difference" I don't think anyone here can help you.

Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues

#190

Post by IAmGraydon » Thu, Aug 20, 2026, 7:35 PM UTC

skeledrew wrote: post #103

And who's going to hold the US responsible for repayment? Way I see it, US has the power to just tell any creditor that they won't be repaying, whether through structuring it as some economic package or just straight up saying go suck it. The former's been done before (1933); maybe eventually we'll see the latter, if a nation has the balls to ask. And talking about it is pretty pointless, like talking about how wet y…

80% of bonds are held domestically, and it's what US banks use to back deposits. If the US government stops paying its debt, your money in the bank will vaporize. And no, the FDIC won't be able to restore it. That's among the least bad things that will happen.