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So then there's a plan to pay it all back?
by crawfordcomeaux 5y ago
So then there's a plan to pay it all back?
- xyzzyz 5y agoYes, it goes like this: collect taxes to spend on payments. Easy.
- MichaelBurge 5y agoThe last time the federal government had a surplus was 2001. So it is historically not the plan to pay off debt with taxes: The debt is increasing, not decreasing. And if I Google "united states per capita debt", I see a box: According to the last data point published, United States per capita debt in 2020 was 84,850 dollars per inhabitant. In 2019 it was 70,557 dollars, afterwards rising by 14,293 dollars, and if we again check 2010 we can see that then the debt per person was 46,284 dollars. So, one theoretically could reduce debt with tax payments. But it doesn't appear to be the current or historical plan.
- deleted 5y ago[deleted]