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At the end of FY 2017 the total government debt in the United States, including federal, state, and local, is expected to be $23.2 trillion. I just don't see how that can ever be paid off.
Someone has to pay for the bank bailouts of 2008 and 2009.
Trump just signed an executive order that repeals legislation meant to prevent the need for more bailouts in the future.
The Democrats may I remind you have controlled Congress since 1928 until recently and POTUS for pretty much of the Twentieth Century.Both parties are guilty in this mess because they are both full of politicians!
Don't forget 4 wars of the 20th Century were during DemoncRatic terms.
Correction:
The Progressive Era has controlled Congress, our Judicial, and the Executive.
The goal is to take liberties so they can micro-manage us, how they feel is best.
Thus all the language allowed to be inserted into the US. Constitution and especially the Bill of Rights, without amendment. To take our liberties, so they can easily place us into further bondage and take our liberties at will.
OP is setting Trump up for an easy defense when Trump himself destroys the country. The US is in fine shape now, or was when Trump inherited it January 20. Sure, it has its problems, but Trump is already making a mess of things and shows no signs of slowing down. He is picking fights with our allies (Mexico, the UK, and Australia), writing unconstitutional executive orders and operating on an inexperienced skeleton crew who has no clue what they're doing. But wait, there's more! He's also wasting time with rallies and causes that don't matter, wasting our money schlepping himself to Mar-A-Lago every weekend and spending millions sending his family all over the country instead of everyone traveling together, and who knows what's coming next, but it probably won't be good.
Obama ran the country in the ground so far that the hole ended up in china. Constant race baiting and identity politics divided the country greatly, and nearly caused a civil war within. Edit: the failure of obamacare as well.
Lets not forget obama doubled the debt as well. Obama has a heck of a tab wasting money on foolishness. Obama sent 500 million to the united nations on his way out!
Dropped tons and tons of money to iran.
At the end of FY 2017 the total government debt in the United States, including federal, state, and local, is expected to be $23.2 trillion. I just don't see how that can ever be paid off.
#1 it doesn't need to ever be paid off
#2 us total public and private assets are over $90 trillion
#3 most U.S. debt is owed to other americans
#4 the average rate on our debt is 2.43%, which we indirectly set, because we own the damn currency
At the end of FY 2017 the total government debt in the United States, including federal, state, and local, is expected to be $23.2 trillion. I just don't see how that can ever be paid off.
Nope. I think Obama brought us out of the worst recession since the Great Depression and boosted the economy. He improved our world relations, raised employment, killed Osama Bin Laden, expanded civil rights for minorities, provided healthcare to millions who didn't have it, etc. etc.
It's a fact that Obama inherited a mess. Trump inherited a decent country. Now Trump will destroy the country worse than Bush did, and Democrats will have to clean it up as usual.
The majority of good presidents in the last 100 years have been Democrats. Republicans are horrible leaders.
It can get paid off, in much the same manner it was built - over long periods of time. Do we have the will to do what it takes to pay it off? THAT is the better question.
The national debt has never been paid off. It's not like a Mastercard. We've been a debtor nation from Day One.
Maybe one of our Princeton-educated Economics PhDs here on City-Data can explain to all of us lesser minds why it's so urgent to "pay off" the national debt. The U.S. has the lowest Debt to GDP ratio of all G-12 nations with the exception of Australia, Canada and Japan. And Japan has been suffering from economic weakness for some time now.
Last edited by BajanYankee; 02-23-2017 at 09:58 AM..
It is simply amazing that the right refuses to acknowledge the state of this economy in 2008. Worst economic situation since the Great Depression by any number of measuring sticks. It was in all the papers.
Think it had anything to do with losing a couple of million jobs ? That is where the blame lies, and I think it is the result of both parties.
At the end of FY 2017 the total government debt in the United States, including federal, state, and local, is expected to be $23.2 trillion. I just don't see how that can ever be paid off.
Anything is possible, but... it requires the people to start supporting the original intent of this country. If people keep demanding socialist policies and practices, there is no hope.
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