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Only $29T is actual meaningful debt. $7.4T is intergovernmental holdings. It's just accounting where one part of the government owes to another. Best way to re
by nabla9 1y ago
Only $29T is actual meaningful debt. $7.4T is intergovernmental holdings. It's just accounting where one part of the government owes to another.
Best way to reduce debt/GDP ratio is just support politics and policies where debt grows slower than economy grows.
- AbstractH24 1y agoPhew, and I thought we were in trouble. Glad it's only $29T
- CoastalCoder 1y agoOr about 7x Nvidia's market cap.
- AbstractH24 1y agoSo the solution to all of America's problems is to nationalize Nvidia?
- CoastalCoder 1y agoYeah, just 7 times in rapid succession.
- bravesoul2 1y agoYou'd need to privatise an already national set of 7 Nvidii.
- AbstractH24 1y agoThe humor on HN on a Sat morning in the summer is fun. Now off to life in the real world.
- CoastalCoder 1y agoThere are narrow windows of time where the anti-humour down voters are distracted. It's all about timing.
- CoastalCoder 1y ago"Invidia" is 1st declension (feminine), so I'd go with Nvidiae. But if we're going to make it masculine company name, then hell yeah I'm using Nvidii!
- jll29 1y ago"Nvidiae", actually - "jealous feelings" if translated from Latin.
- pirate787 1y agoThe intergovernmental holdings are accounting placeholders representing the Congressional raid on past Social Security surpluses. It's absolutely meaningful because those obligations are coming due as the program runs increasingly in the red. As legal obligations, they aren't binding the way public debt is, but current Social Security retirees have been promised these funds, and the government is already borrowing more from capital markets to meet these obligations. The current pace is $4.1 trillion in new borrowing by 2033 according to the Congressional Budget Office. Basically the intergovernmental holdings are getting converted to more public debt. https://www.ssa.gov/oact/trsum/ https://www.ssa.gov/oact/trsum/ https://www.cato.org/policy-analysis/social-security-trust-fund-myth#introduction https://www.cato.org/policy-analysis/social-security-trust-f...
- CPLX 1y agoI’m old. They’ve been saying this for 30-40 years. It’s bullshit. We finance social security out of current revenue and always have. If the economy shrinks that creates problems if it grows that does not.