Earlier quoted context omitted.
Current treasury head is Scott Bessent, previously of Soros Fund Management and Key Square Group. He's far too qualified to be part of this administration. Expect him gone soon.
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US national debt reaches a record $37T, the Treasury Department reports
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Re: US national debt reaches a record $37T, the Treasury Department reports
#12Reported. It'll be amended soon after the statisticians get fired and yes-men get put in.
Current treasury head is Scott Bessent, previously of Soros Fund Management and Key Square Group. He's far too qualified to be part of this administration. Expect him gone soon.
He's been in place since January so that suggests he's sticking about.
During that time he's been actively campaigning for policies that are questionable but highly aligned with this administration: BBB, crypto, interest rate cuts.
So qualified or not I can't see your prediction coming true.
Money men on the inside of this administration are only going to make money, why make waves even if it makes normal Americans poorer. That's been happening since Reagan.
Re: US national debt reaches a record $37T, the Treasury Department reports
#13I'm sure there were a lot of naive people who voted for the Republican party for their first time because something from Trump's word salad resonated with them, and they are now finding out what that Party is actually about. Surprise! All that whining about the debt was total kayfabe. Don't say we didn't try to warn you.
>they are now finding out
I hope so ... I dunno.
Re: US national debt reaches a record $37T, the Treasury Department reports
#14Man the debt was actually going DOWN after 2020?
Re: US national debt reaches a record $37T, the Treasury Department reports
#15Man the debt was actually going DOWN after 2020?
Only as a percentage of GDP. Pandemic recovery was not cheap. However, yes, Biden and/or his economic advisors did a pretty good job of managing the economy.
Re: US national debt reaches a record $37T, the Treasury Department reports
#16For the visually-inclined, a graph of debt as a proportion of GDP [0]: https://fred.stlouisfed.org/series/GFDGDPA188S Of course, this doesn't show projections for what the future debt will become after the Republican's "BBB" package from a few months ago. [0] Yes, I know GDP is a flawed measure, but as long as its flaws are consistent over the years it is useful for scaling.
What a cool graph.
Interesting to see the issues that get the ire of the current administration like food stamps and education and foreign aid are minuscule line items on that visualization.
Re: US national debt reaches a record $37T, the Treasury Department reports
#17[deleted]
Re: US national debt reaches a record $37T, the Treasury Department reports
#18For the visually-inclined, a graph of debt as a proportion of GDP [0]: https://fred.stlouisfed.org/series/GFDGDPA188S Of course, this doesn't show projections for what the future debt will become after the Republican's "BBB" package from a few months ago. [0] Yes, I know GDP is a flawed measure, but as long as its flaws are consistent over the years it is useful for scaling.
It looks like it was under control for a while following World War II, but then from the early 1980s, it's hard for me not correlate the first derivative of the slope of that graph with presidential party.
Re: US national debt reaches a record $37T, the Treasury Department reports
#19How do you guys see this ending? I don't see this ending well but I can't imagine what happens. Seems unsustainable but nobody wants to deal with it.
Re: US national debt reaches a record $37T, the Treasury Department reports
#20For the visually-inclined, a graph of debt as a proportion of GDP [0]: https://fred.stlouisfed.org/series/GFDGDPA188S Of course, this doesn't show projections for what the future debt will become after the Republican's "BBB" package from a few months ago. [0] Yes, I know GDP is a flawed measure, but as long as its flaws are consistent over the years it is useful for scaling.
It looks like it was under control for a while following World War II, but then from the early 1980s, it's hard for me not correlate the first derivative of the slope of that graph with presidential party.
What do you specifically see? I see two big increases in debt, both due to shocks (the 08 financial crisis, and the pandemic; one under Obama, and one under Trump.). Pre 2008, it does look like moderate increases under Reagan/Bush1 and Bush 2, and flat to decrease under Clinton, is that what you mean?