No one is watching?

[davekc]

A few days ago, the federal debt of the United States rather quietly passed the $19.5 trillion mark.
Just racking up debt. Unbelievable. Wonder if anyone noticed. But Obama cut the deficit? I can't stop laughing.
In fact, for the 2016 fiscal year that ends in just ten more days, the US government’s debt growth of $1.36 trillion is on track to be the third biggest annual increase ever. Only time it went higher was in 10 and 11 the top of the financial crisis.
Even more interesting, last month the US federal debt grew by $151.5 billion. I keep hearing the economy is great. Doing pretty good as we keep borrowing from everyone else to give the illusion. Next generation has no idea what they are in for.

 

[Ragman]

A few days ago, the federal debt of the United States rather quietly passed the $19.5 trillion mark.
Just racking up debt. Unbelievable. Wonder if anyone noticed. But Obama cut the deficit? I can't stop laughing.
In fact, for the 2016 fiscal year that ends in just ten more days, the US government’s debt growth of $1.36 trillion is on track to be the third biggest annual increase ever. Only time it went higher was in 10 and 11 the top of the financial crisis.
Even more interesting, last month the US federal debt grew by $151.5 billion. I keep hearing the economy is great. Doing pretty good as we keep borrowing from everyone else to give the illusion. Next generation has no idea what they are in for.

Hmmmmm, who controls the purse strings? Hmmmmm

The 2014 elections gave the Republicans control of the Senate (and control of both houses of Congress) for the first time since the 109th Congress. With 247 seats in the House of Representatives and 54 seats in the Senate, this Congress began with the largest Republican majority since the 71st Congress of 1929–1931.
114th United States Congress - Wikipedia, the free encyclopedia
Wikipedia › wiki

 

[davekc]

This isn't a specific party issue. They are both just as bad as the other. That aside, when they have brought cuts into the picture, the president vetoes it. Still a problem with both parties.

 

[Turtle]

Hmmmmm, who controls the purse strings? Hmmmmm

Of course, it's not quite a simple as who controls the purse strings. The President has a lot a latitude and control over some of the coins in the purse. Obama and Midnight Regualtions

This isn't a specific party issue. They are both just as bad as the other.

The national debt doesn't really matter all that much, certainly not in the same context as a personal credit card does. How Much Does America's Huge National Debt Actually Matter?

 

[hossman2011]

The light at the end of this tunnel is that our next president is a master swordsman in the art of corporate bankruptcy!!!! Take that China!!!

 

[hossman2011]

The light at the end of this tunnel is that our next president is a master swordsman in the art of corporate bankruptcy!!!! Take that China!!!

Of course this is a quote based in sarcasm...

 

[skyraider]

Hey, even the bathrooms are still open at Target, lol

 

[JohnWC]

Until we go back to pay as you go
We are going to continue to build up

 

[TDave]

Until we go back to pay as you go
We are going to continue to build up

The US has only paid off the national debt only once in history in 1835. That only lasted for a year and then the debt went back up.

At the moment the debt is ok the problem is in 10 to 15 years that debt will increase to (estimate now of course) to about 86% of GDP. We haven't been that high since the end of WW2.

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