Federal debt expected to skyrocket to 30 trillion in 2021, up from 5 trillion in 2000

[Taggerung]

We're risking a sovereign debt crisis to prevent an economic depression.

But guess what? We're going to have both of those things.

[zach_33]

Originally Posted by Taggerung

We're risking a sovereign debt crisis to prevent an economic depression.

But guess what? We're going to have both of those things.

Nope. We will make good on our debt. Depression may come and go, but we will absolutely give you $995 ten years from now for your $1000 today. Fat, dumb and happy will get lean in a hurry, but we will make good on our debts.

[Taggerung]

Originally Posted by zach_33

Nope. We will make good on our debt. Depression may come and go, but we will absolutely give you $995 ten years from now for your $1000 today. Fat, dumb and happy will get lean in a hurry, but we will make good on our debts.

I agree. America will never default on any debt that it owes. The problem is, the dollars you get paid back with may not be able to buy anything....

[Hoonose]

Originally Posted by Steve McDonald

Well, what could possibly go wrong with that plan? The first-quoted poster is actually right about that last sentence, that China definitely needs us to consume a large part of their manufacturing production. Our eager customers for their low-priced goods, was the main driving element in what their industries became. They are said to hold huge amounts of U. S. cash and could badly disrupt our finances if they flooded the market with it. But of course they won't do that as long as we keep buying from them. Both countries have become hooked into each other and there could be catastrophic consequences for both, if they ended their interactions.

https://tradingeconomics.com/china/f...hange-reserves

Just how or where would China go to dump over $3T USD's?

[PilgrimsProgress]

We are saving billions by getting out of the Paris Climate Accord and W.H.O just for a start. Now to get out of foreign wars (sigh)

[Finn_Jarber]

If you add the $2.3 trillion from this year, Trump will have added $7 trillion to the debt in 3 years.

[skeddy]

sounds like these millennials are gonna need to tug on those bootstraps, they still got the poor elderly boomers to pay for and now all this new debt. The poor are going to have to start paying taxes.