Nationl Debt Tops $22 Trillion

[JacksinPA]

Where are the "conservatives" decrying this fiscal irresponsibility? They were quite vocal only a few years ago. Something must have happened to change their minds. I wonder what it might have been?

A big tax cut for the rich while stealing from the not rich?

 

[Kushinator]

Is that chart supposed to show something other than the fact that it is rising and is now the fourth largest budget item? Total debt not just public debt is what Treasury shows, 523 billion dollars!!

The figure you show includes state and local debt interest, along with other financing outflows such as railroad retirement, World Bank special drawing rights, etc.... What it doesn't account for is inflows from interest payments to the government.

In fiscal year 2018, the federal government paid a little north of $320 billion in interest. This is a fact. Anything you respond with other than acknowledgment of this fact will be entirely ignored.

 

[Conservative]

The figure you show includes state and local debt interest, along with other financing outflows such as railroad retirement, World Bank special drawing rights, etc.... What it doesn't account for is inflows from interest payments to the government.

In fiscal year 2018, the federal government paid a little north of $320 billion in interest. This is a fact. Anything you respond with other than acknowledgment of this fact will be entirely ignored.

then I am happy to be ignored because you are a waste of time anyway, no understanding of the private sector and no understanding of even basics of economics. the fourth largest budget item in the nation is interest expense and that is a FACT! What the hell would state and local debt interest be doing on the Treasury department data base, who pays that debt service?

 

[Dittohead not!]

As I have stated you look at results and believe that the recession lasted six years whereas I look at the economic policies promoted and understand why it was the worst recovery in U.S. History. What i would have done was let the banks that needed TARP fail, let GM fail and not kick the can down the road, I then would have given the 842 billion stimulus to the private sector and create loans to private sector companies to take over GM and boot the unions out

Your own figures showed that employment took six years to recover from the recession.

So, you would have trashed the big banks and GM. Would you have still allowed Fiat to buy Chrysler Corp? We might have had one American auto manufacturer, Ford.


Your plan might have worked. Neither Obama nor Bush seemed to think that was a good idea.

 

[Dittohead not!]

A big tax cut for the rich while stealing from the not rich?

Maybe. I'm thinking it has more to do with the letter after the president's name.

 

[Kushinator]

What the hell would state and local debt interest be doing on the Treasury department data base, who pays that debt service?

First and foremost, interest expense has been the 4th largest federal expense for quite a while. Never denied this.

As for the Treasury... You should ask them:

 

[Bullseye]

Your own figures showed that employment took six years to recover from the recession.

So, you would have trashed the big banks and GM. Would you have still allowed Fiat to buy Chrysler Corp? We might have had one American auto manufacturer, Ford.


Your plan might have worked. Neither Obama nor Bush seemed to think that was a good idea.

Bush and Obama - now there's a real economic brain trust. :roll:

 

[Bullseye]

A big tax cut for the rich while stealing from the not rich?

LOL, you guys can chant that for the next ten years - it's still going to be Progressive Poppycock. And please don't trot out the idiotic "the rich got 80% of the tax cuts" trope; They pay 90% of the taxes.

 

[Tbird19482]

This really has to be a joke, you have no concept of inflation or the value of money

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OH just like you?
You post where Obama ran the debt up so much but when somebody show's you Reagan or GW Bush ran it up as much you don't want to hear about it.
Here is an interesting article for you to read
US Debt by President: By Dollar and Percent

It shows you the 5 top Presidents that ran the debt up the most
and by the percent they ran it up
OH look Reagan and GW ran it up a lot more by percentage then Obama did.
But you look at the dollars in 2016 dollars and don't bother to take 1984 dollars and bring them up to what 2016 dollars are or 2007 dollars up to 2016 dollars are.
By percentages of the debt Reagan and Bush ran it up more then Obama did
Have a nice night

 

[Tbird19482]

LOL, you guys can chant that for the next ten years - it's still going to be Progressive Poppycock. And please don't trot out the idiotic "the rich got 80% of the tax cuts" trope; They pay 90% of the taxes.

So according to the news today a lot of people are finding out that they are getting a lot smaller tax returns this year then they got last year.
FACT is IF you used the standard deduction last year and got to take the personal exemptions of 4050 per person you could deduct over 32000 dollars for a family of five.and this year if you take the standard deduction you only could deduct 24000 your TAXABLE income went up over 8000 dollars and at 10% that means your taxes went UP 800 dollars and that is NOT a tax cut for a family of five but a tax increase
as I have said before IF this is what Trump and the Republicans call a tax cut I do not want to see what they call a tax INCREASE
have a nice night

 

[Conservative]

A big tax cut for the rich while stealing from the not rich?

Yep, allowing people to keep more of what they earn really bothers you, doesn't it? Could it be you are one of those who isn't paying any FIT?

 

[Conservative]

First and foremost, interest expense has been the 4th largest federal expense for quite a while. Never denied this.

As for the Treasury... You should ask them:

View attachment 67250874

U.S. Debt is made up of Public Debt and Inter-Government holdings and all are paid by the taxpayers. Seems like a foreign concept to you

 

[Conservative]

Your own figures showed that employment took six years to recover from the recession.

So, you would have trashed the big banks and GM. Would you have still allowed Fiat to buy Chrysler Corp? We might have had one American auto manufacturer, Ford.


Your plan might have worked. Neither Obama nor Bush seemed to think that was a good idea.

My own figures come from BLS and as I stated you look at the results and ignore the policies tht generated those results, therein lies your problem. The Obama economic policies created the worst recovery in U.S. History which is why the recession was so prolonged

 

[Kushinator]

U.S. Debt is made up of Public Debt and Inter-Government holdings and all are paid by the taxpayers. Seems like a foreign concept to you

No need to attempt playing expert. You continue to push a low level lie and continue to get called out.

 

[Conservative]

No need to attempt playing expert. You continue to push a low level lie and continue to get called out.

No real sense is responding to you as nothing is going to change your mind as you have no problem with the 4th largest budget item being interest expense and cannot explain how that benefits the economy. The so called low level lie is you calling yourself an independent

 

[Kushinator]

No real sense is responding to you as nothing is going to change your mind as you have no problem with the 4th largest budget item being interest expense and cannot explain how that benefits the economy. The so called low level lie is you calling yourself an independent

I dunt have to explain anything to you, nor can you tell me what I do or do not have a problem with.

Are you going to admit you push a lie continually... Even after being repeatedly called on it?

 

[OrphanSlug]

U.S. Debt is made up of Public Debt and Inter-Government holdings and all are paid by the taxpayers. Seems like a foreign concept to you

That is not entirely accurate.

 

[Dittohead not!]

My own figures come from BLS and as I stated you look at the results and ignore the policies tht generated those results, therein lies your problem. The Obama economic policies created the worst recovery in U.S. History which is why the recession was so prolonged

I'm not disputing your figures. I'm disputing your opinion that different policies would have brought us out of the recession faster. Remember, it was lack of effective regulation that started the recession in the first place.

 

[Conservative]

I dunt have to explain anything to you, nor can you tell me what I do or do not have a problem with.

Are you going to admit you push a lie continually... Even after being repeatedly called on it?

Yes I will admit the truth Debt Service is the fourth largest budget items which is ridiculous and total debt is what we pay debt service on which is public debt plus inter government Holdings

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[Conservative]

That is not entirely accurate.

Then prove me wrong because what I posted is accurate and if you have a problem with the data that I suggest you call Treasury and tell them their data is wrong because I even posted the link

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[OrphanSlug]

Then prove me wrong because what I posted is accurate and if you have a problem with the data that I suggest you call Treasury and tell them their data is wrong because I even posted the link

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It is not about disputing Treasury Data, it is disputing who is on the hook for what part of Total Debt.

 

[Conservative]

I'm not disputing your figures. I'm disputing your opinion that different policies would have brought us out of the recession faster. Remember, it was lack of effective regulation that started the recession in the first place.

Which goes to show how you don't understand the private sector economy which was basically ignored by Obama. Bailing out the unions and teachers is promoting the public sector not the major component of GDP. Lack of Regulation was partly to blame but more blame goes on personal responsibility issues which are always ignored by the left. It is always someone else's fault for poor choices made

 

[Conservative]

It is not about disputing Treasury Data, it is disputing who is on the hook for what part of Total Debt.

Then you tell me who is on the "hook" for part of the public debt if not the taxpayers?

 

[OrphanSlug]

U.S. Debt is made up of Public Debt and Inter-Government holdings and all are paid by the taxpayers. Seems like a foreign concept to you

Then you tell me who is on the "hook" for part of the public debt if not the taxpayers?

You are changing your story, I've included the quote I responded to.

Debt held by the Public and Intergovernmental Debt both make up Total Debt, the issue I took is you saying the taxpayer is on the hook for Intergovernmental Debt and that is not accurate.

 

[Conservative]

You are changing your story, I've included the quote I responded to.

Debt held by the Public and Intergovernmental Debt both make up Total Debt, the issue I took is you saying the taxpayer is on the hook for Intergovernmental Debt and that is not accurate.

I have changed nothing and have been completely accurate in my statement. You don't like the explanation then give Treasury a call and tell them their link is wrong as is the data?

Maybe we have a difference in definition of what on the hook means. Taxpayers pay taxes and part of those taxes goes to debt service on public debt and inter-gov't holdings. Our Gov't is on the hook for the entire debt but debt service is funded by the taxpayers. Not sure how to be clearer