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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

#121

Post by cosmicgadget »

gruez wrote: post #100
Terr_ wrote: post #6

For 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.

>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. https://www.economist.com/content-assets/images/20250705_FBC...

With interest rates that have to remain high to control inflation.

Re: US national debt reaches a record $37T, the Treasury Department reports

#122

Post by cosmicgadget »

mindslight wrote: post #9

I'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.

Doesn't kayfabe require that they not be naive to his lies?

Re: US national debt reaches a record $37T, the Treasury Department reports

#124

Post by kccoder »

msgodel wrote: post #106
defrost wrote: post #102

Earlier quoted context omitted.

Did you catch the part where Trump repeatedly claimed to reduce the debt once in office and has since done the opposite (despite the smoke and mirrors called DOGE).

So you're saying that if we want something we should vote for the opposite?

No, start considering the source. If a mental patient tells you that a stock is a good investment, do you buy? No, so why listen to a man who lies with every word he speaks?

If Kamala had been elected president the debt would've grown, but at a lower rate than under Trump, and her policies would've benefited regular folk, not just gazillionaires.

Kamala also isn't in the Epstein files and doesn't have a history of sexual assault, and certainly wouldn't have moved that absolute demon Ghislaine Maxwell to a minimum security club fed because she was willing to provide testimony to deflect from Kamala's crimes (of which there are none).

Shall I go on?

You chose one of the most incompetent, nonsensical, unethical, greedy, lecherous humans on this planet, who also has an absolute lack of morals or empathy, because he said he'd reduce the deficit / debt? What did you think was going to happen?

I hope you take this misstep as an opportunity for self reflection.

Re: US national debt reaches a record $37T, the Treasury Department reports

#125

Post by mindslight »

cosmicgadget wrote: post #122
mindslight wrote: post #9

I'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.

Doesn't kayfabe require that they not be naive to his lies?

No? People used to get mad when someone said wrestling was fake. It wasn't because they were in on it and pretending to be mad, but rather because they wanted to believe. A very similar dynamic to Trumpism, come to think of it.

Re: US national debt reaches a record $37T, the Treasury Department reports

#126

Post by pyuser583 »

lm28469 wrote: post #73
kamikazeturtles wrote: post #21

Earlier quoted context omitted.

> Yes, I know GDP is a flawed measure, but as long as its flaws are consistent over the years it is useful for scaling. I don't think they can be considered consistent over the years. 20% of our GDP is healthcare and that's only going to grow as the population ages. I don't know what percent of the GDP is financial services but that'll probably also grow until we get something akin to 2008 again. Including healthcare…

It reminds me of the early days of the russian invasion when everyone was mocking russia for having the same gdp as spain. As it turns out having a small gdp doesn't mean much as long aas you have industries and resources. France includes illegal drug traffic and illegal prostitution in its gdp too

Most countries include criminal enterprises when determining economic statistics. It's important, because economic crises can begin in shadow industries.

Re: US national debt reaches a record $37T, the Treasury Department reports

#127

Post by getlawgdon »

AnimalMuppet wrote: post #104
msgodel wrote: post #101

Earlier quoted context omitted.

[flagged]

One campaigned on reducing the deficit; one did not. It seems reasonable to expect a smaller deficit from the one who campaigned on that, doesn't it?

Trump is a lifelong pathological liar (among other things). There is no meaning in anything he promises. He has no loyalty to anyone or anything but himself. He is a lecherous, repulsive menace.

Re: US national debt reaches a record $37T, the Treasury Department reports

#128

Post by ivape »

ourmandave wrote: post #62

It's fine. As long as the US dollar is the global currency, we can run the money printer as long as we want. Once that ends, well... =(

The BRICS are de-dollarizing. It's going to suck when this check comes due because we won't be able to raise debt to pay this down. It's in our interest for the world to prosper and rely on us because that's basically how we keep our lifestyle financed.

Brazil and India just said fuck off with the tariffs to Trump, and China and Russia are in a cold war with us. Some president absolutely needs to rehabilitate this soon, at least with a few of the BRICS.

Re: US national debt reaches a record $37T, the Treasury Department reports

#129

Post by thisisit »

msgodel wrote: post #101
starchild3001 wrote: post #58

At this rate, the debt ceiling’s going to need its own space program! Thank you, Mr. T, and to all those before you who let avoidable crises happen, handed out tax cuts to your richest friends, and slapped it all on the national credit card. The people of this country will be feeling your “generosity” and recklessness for decades to come. PS: I'd invite everyone to examine how US Debt/GDP grew unbounded. The biggest…

[flagged]

Its been ~8 months in office now. Can we please stop with this whataboutism? Pray do tell what is this guy's plan to reduce the national debt? The BBB seems to be increasing the national debt to unmanageable level.

Re: US national debt reaches a record $37T, the Treasury Department reports

#130

Post by ivape »

2OEH8eoCRo0 wrote: post #38
bithive123 wrote: post #30

Earlier quoted context omitted.

On a long enough timeline we're all dead. In the near term, expect a lot of stupid decisions and huffing and puffing based on an ideological framing of what the national debt is. I am not an economist or finance guy, but I have noticed a lot of debt hysteria from people who don't seem to understand basic accounting. That is, one party's asset is another party's liability. You cannot have buying without selling, and s…

I'm not an expert but I often fear that the whole S&P500 success is tied to govt spending.

It's tied to everyone's retirement being automatically invested into it. I wonder what it would take for a bunch of white collar workers to cash out their 401k early.
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