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This country has $21 trillion in debt. With this current administration (Trumpy and previous administrations before him) have been ignoring this swamp-filled p

This country has $21 trillion in debt. With this current administration (Trumpy and previous administrations before him) have been ignoring this swamp-filled problem. So much so that in August, the current administration added $214 billion to the deficit. We are on our way to adding $1 trillion a year to this country's deficit. $1 trillion is an insane number: http://www.pagetutor.com/trillion/index.html http://www.pagetutor.com/trillion/index.html We are now over a 105.4% Debt-to-GDP ratio. If you as a citizen make $1 and spends $2, you're officially bankrupt! The U.S. government can measure all it wants, but we cannot continue to ignore the current situation. The reason Trump got elected in the first place was that his constituents thought he would be the man to address the "swamp." But nope.

jungturk 8y ago
> If you as a citizen make $1 and spends $2, you're officially bankrupt! Not exactly, if I've got resources banked to cover the gap. Unfortunately, the resources we're selling to cover the present excesses are the tax receipts of future citizens, and they would probably prefer to have those funds to cover other priorities.
- WkndTriathlete 8y ago
  Bear in mind that if the US decides to print $21 trillion dollars it wipes out its entire debt. Granted, all your dollars would be buy about 1/20th as much as they did before, but the US would be debt-free. (There are other problems with printing $21tn dollars that I'll leave to actual economists to point out.)
  - jotjotzzz 8y ago
    Overprinting is called hyperinflation. People lose trust in the currency because they are worthless. It has happened before. https://en.wikipedia.org/wiki/Hyperinflation https://en.wikipedia.org/wiki/Hyperinflation
- jotjotzzz 8y ago
  You're talking about assets vs. liabilities. Unfortunately -- we are racking up more liabilities.

jungturk 8y ago

> If you as a citizen make $1 and spends $2, you're officially bankrupt! Not exactly, if I've got resources banked to cover the gap. Unfortunately, the resources we're selling to cover the present excesses are the tax receipts of future citizens, and they would probably prefer to have those funds to cover other priorities.

WkndTriathlete 8y ago
Bear in mind that if the US decides to print $21 trillion dollars it wipes out its entire debt. Granted, all your dollars would be buy about 1/20th as much as they did before, but the US would be debt-free. (There are other problems with printing $21tn dollars that I'll leave to actual economists to point out.)
- jotjotzzz 8y ago
  Overprinting is called hyperinflation. People lose trust in the currency because they are worthless. It has happened before. https://en.wikipedia.org/wiki/Hyperinflation https://en.wikipedia.org/wiki/Hyperinflation
jotjotzzz 8y ago
You're talking about assets vs. liabilities. Unfortunately -- we are racking up more liabilities.