(Image: US national debt holdings as of 2018)
America’s debt surpassed the $30 trillion mark for the first time and there is no intention of paying it back. “We’re on an unsustainable path,” Federal Reserve Chairman Powell told lawmakers in January. “Debt is not at an unsustainable level, but the path is unsustainable — meaning it’s growing faster than the economy, meaningfully faster than the economy. We have to address that over time. We will address it over time. And the better way to do it is soon.”
According to the Treasury Department, outstanding debt jumped from $19.9 trillion when Trump took office in January 2017, and rose to $27.8 trillion when Biden took over in January 2021. Unexpected expenses due to the coronavirus added a massive amount of debt to the balance sheet. Still, politicians wish to continue spending to fund the Build Back Better agenda. “The debt puts an unbelievable burden on future generations of Americans. Congress cannot wait! We must take action now to get America’s fiscal house in order,” said Rep. Lloyd Smucker of Pennsylvania.
Click on the clock above to view the US national debt rise in real-time.
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No supply chain problem with this.
Why do we pay taxes?
Taxes are strictly about social control. Picking winners and losers.
Yes.
All of the last 5-6,7(?) Presidents have roughly doubled the debt during their tenure. More and more debt has to be created or the Ponzi scheme collapses.
Should Biden make it 4 years the debt will be $50 Trillion. And that ain’t gonna happen.
Buckle up…
Murray Rothbard strongly suggested repudiating it back when it was far smaller. Still a great idea today. Nobody will ever lend to our worthless government again. How wonderful that would be.
Say the R’s everytime they aren’t in charge.
“Spend like there’s no tomorrow” is what they say when they are in charge.
They never seem to do the polar opposite of what the democrat communists do.
Yet, they want to know where I got 600 bucks.
Isn’t that fake virus a wonderful thing. It was capable of destroying families, lives, businesses, economies and countries. The destruction is underway. We humans are most irrational.
Most of us can not even comprehend a trillion dollars. A trillion seconds is 31,709 years!
$30 trillion barely scratches the surface of how fucked these financial genius assholes from Wall Street to K-Street to Capitol Street have done to this nation . The Quadrillions I’d derivatives piled on top of that $30 trillion is the crushing weight that will sink us for good ! The circle jerk BIG CLUB know it and do not give a fuck about you !
Why do you think they brought the BIOWARFARE COVID AND DEATH SHOT VACCINES ? To fucking kill as many as possible while they cook up another big war to kill more and blame us for everything as they kill us off so we don’t cost anything to keep around !
Remember all you Government parasites your pension and benefits is vaporizing too and no you are not going to tax the private sector to cover it that titty is sucked dry and now you to get dry fucked like the rest of the great unwashed !
Party Is Over somebody in the Big Club shit in the pool