Recently, statistics released by American financial sources show that the government debt in the United States has grown rapidly in recent years, an increase of nearly one-third compared with before the epidemic. Tesla CEO Musk also commented on the news, which triggered a heated discussion among netizens. Where is the money spent? Is there a cap on government debt?
Wall Street Silver: When will this madness end to the rise of the US debt ceiling?
Debt "defaults" are not actually the problem. The problem is other expenses.
The U.S. government revenue is $49 trillion (2022) — paying $928 billion in interest annually.
Musk: Interest payments on the national debt that exceed defense spending are a shocking threshold.
Wall Street Silver: The likelihood of interest not being paid is zero. In any case, the US Treasury will definitely pay the money first. The only problem is that other types of spending will not be paid if Congress does not act to raise the limit.
There is no ceiling on debt.
Who gets these interest? State or individual?
Debt should be considered in conjunction with GDP growth. It was $14.6 trillion in 2010 and $23.6 trillion in 2022. The same upward pattern, so the percentages do not change, increase or decrease. It's not that bad.
Imagine how much your dollar wealth has increased?
Elon, just keep building cars and rockets, and leave this to me.
It is finished when most of their budget is paying interest on their reckless debts. Inflation rose sharply and the dollar inevitably collapsed. The United States did not end well.
I love the phrase "this has never happened before, but we know it will be catastrophic". If it hasn't happened, how do you know? Moreover, from this chart, there is no debt ceiling.
We need leaders who can stop the bleeding. Instead of spending ten years to get out of the deficit. Not eight years, six years or four years. The president must commit to addressing this issue within one term. There are no losses in excess of the principal.
The large increase in 20/21 was mainly Covid spending. The current managers try to pretend that this is the new standard.
Question: What is it called when a government increases its budget every time it overspends? A: A joke.
Did you ask this question when Trump was president? Did you ask when he increased the national debt by 23% in 4 years??? (This one is clearly a Biden supporter)
What is the level of spending in the US? That's basically twice their income, and if you're spending twice as much as you're earning, how can that work? So why are they doing it?
Debt is fake news. This is not true. We can go on and on. If it mattered, no one would lend the United States that much money. Because we can't afford it and won't pay. What will they do?
You know I'm not a financial expert, but I'm sure when your debt grows exponentially and you take out a loan to pay it down, there's no good ending and no chance of turning back. How long can we borrow?
Democracy will fail because the poor and special interests inevitably vote for too much for free.
To whom is the interest paid on these debts? Where are they spending their money?
Can we abolish the Fed?
Republicans should not budge until Democrats agree to balance the budget. I have little confidence that this will happen, because most politicians on both sides of the party are selfish and they don't care if they will ruin our entire future!
That's it. Stop the capitalist behavior of stakeholders and pay off the American debts that have made them richer and more powerful than they ever imagined.
More than 30 trillion yuan in debt is indeed a huge number, and sometimes once people's desires are opened, it seems that how much money is not enough to spend. Why not the government?
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