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might is right. Do US really have to pay back this debt to anyone? Can anyone compel and force US to pay it's debt to anyone? lol Think about it.
Most debt is owed to Americans like already underfunded state and city pensions, Americans who have bond funds in their 401Ks and IRAs, the military pension, Social Security, etc.
This is real debt owed to real Americans.
Moreover if we don't pay the money back we can kiss our credit rating goodbye. Hello Venezuela.
America is in trouble financially. Trump wanted to reduce the Federal Gov. but the Democrats want to expand the cost with universal healthcare, Free tuition, Reparations, The Green New Deal and keeping their favorite pets well housed and fed with taxpayer dollars, the Illegal Aliens.
?
Nothing was implemented. All that happened was borrowing more from the Fed.
Most of us don't know that the current value of the Federal assets is roughly 250 trillion dollars in lands, mineral rights and buildings. The Fed can sell off any part of this to private developers and go into the black anytime they want.
Most of us don't know that the current value of the Federal assets is roughly 250 trillion dollars in lands, mineral rights and buildings. The Fed can sell off any part of this to private developers and go into the black anytime they want.
It's easier to just print and steal.
Criminals (the government) shun honest means to make money.
The goal is to keep the shell game going at least until I die so that I can continue to live my stable relatively hardship free life.
Here's my plan; I'm 70 now and in fair health. What have got left, 10 years? I think the USA will hold together for now but be on a downward trajectory for the next 25 years or so and then it will crash. I will be long dead. I just pray everything holds together for another 10 years or so. In case we crash in 2 years I have 3 bottles of vodka. They are my "quick painless exit".
I read the interest on the debt will exceed what we pay for National Defense w/in 5 years. If interest rates tick up, then it could be sooner.
If the interest rates normalized, we'd be sunk...so they won't. This helps spenders, but hurts savers & retirees. It's a hidden form of wealth redistribution
The only guys in DC who care are Paul, & Massie...the only 2 that have voted "no" to the $3.5T+ stimulus'. The rest are all stealing from us by devaluating our paper wealth w/ debt.
I'd trade a Rand Paul-Tom Massie Presidential ticket for Trump-Pence in a New York second...I'll keep dreaming.
The Debt is like the boy who cried Wolf...Americans have been hearing about it for their entire lives, so very few listen anymore.
All I can do is vote for liars & corrupt thieves (because they all are), stay totally debt-free, hide a portion of our wealth in small denominations of Silver & Gold coins, & have a small arsenal to protect it all in case, & have as much no-spoil food stored as will fit in my home. "CHECK" to all of the above.
I could decline my SS when I get old enough, but I want my $ back...with interest, so nah...
Soon, taxes will rise, & then they'll come for our retirement stash. Howso? They'll force us to convert it all into "War Bonds"-like notes. Our Pensions, IRA's, 401K's, Bank CD's, ect..
Like they've already done with our SS funds...they'll spend it, & give us IOU's, (the statement you get each 5 yrs, or each yr. if over 60) then pay out, until they can't.
force China to pay their debt on century old Chinese bonds
"By paying some bondholders and not others, Beijing is technically in selective default, according to the ratings of bond-risk firms Moody’s, Standard & Poors and Fitch"
I read the interest on the debt will exceed what we pay for National Defense w/in 5 years. If interest rates tick up, then it could be sooner.
If the interest rates normalized, we'd be sunk...so they won't. This helps spenders, but hurts savers & retirees. It's a hidden form of wealth redistribution
The only guys in DC who care are Paul, & Massie...the only 2 that have voted "no" to the $3.5T+ stimulus'. The rest are all stealing from us by devaluating our paper wealth w/ debt.
I'd trade a Rand Paul-Tom Massie Presidential ticket for Trump-Pence in a New York second...I'll keep dreaming.
The Debt is like the boy who cried Wolf...Americans have been hearing about it for their entire lives, so very few listen anymore.
All I can do is vote for liars & corrupt thieves (because they all are), stay totally debt-free, hide a portion of our wealth in small denominations of Silver & Gold coins, & have a small arsenal to protect it all in case, & have as much no-spoil food stored as will fit in my home. "CHECK" to all of the above.
I could decline my SS when I get old enough, but I want my $ back...with interest, so nah...
Soon, taxes will rise, & then they'll come for our retirement stash. Howso? They'll force us to convert it all into "War Bonds"-like notes. Our Pensions, IRA's, 401K's, Bank CD's, ect..
Like they've already done with our SS funds...they'll spend it, & give us IOU's, (the statement you get each 5 yrs, or each yr. if over 60) then pay out, until they can't.
They should have elected his dad. He spoke the truth.
Well they can just keep on printing money or better yet would be to rein in spending and live within our means.
I can't imagine the mess that we are going to have to dig out of once this Corona crisis is wrapped up. My state has lost billions in revenue by shutting down services and small business some of which might never recover. How will the states make up for this shortfall? They won't be doing the same that any household would do by cutting costs, they will be hitting us with more taxes.
America is in trouble financially. Trump wanted to reduce the Federal Gov. but the Democrats want to expand the cost with universal healthcare, Free tuition, Reparations, The Green New Deal and keeping their favorite pets well housed and fed with taxpayer dollars, the Illegal Aliens.
We are heading for a cliff and no one wants to admit it or curb their spending. Now we are hearing that California and NY want Federal money to bail them out?
Once again:
The financial position of the United States includes assets of at least $269.6 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP) as of Q1 2014.
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If interest rates tick up, then it could be sooner.
