Moneymoney

Tue Nov 5, 2019, 04:34 PM

US National Debt Passed $23 Trillion, Jumped $1.3 Trillion in 12 Months

The US gross national debt – the sum of all Treasury securities outstanding – passed another illustrious milestone, $23.01 trillion, the US Treasury department disclosed on Friday. And it got there at lightning speed just eight months after having passed the illustrious milestone of $22 trillion on February 11. Over the past 12 months, the US national debt has jumped by $1.33 trillion – and these are the good times, and not a financial crisis when everything goes to heck:

https://wolfstreet.com/2019/11/02/us-national-debt-passed-23-trillion-jumped-1-3-trillion-in-12-months/

Over the 12 months through the third quarter, the US gross national debt rose by 5.6% from the same period a year earlier. But nominal GDP over the same period rose only 3.7%: meaning the growth of the debt is outrunning the growth even in what President Trump called two days ago, the “Greatest Economy in American History!”

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Reply US National Debt Passed $23 Trillion, Jumped $1.3 Trillion in 12 Months (Original post)
uncledad Nov 5 OP
orson Nov 5 #1
uncledad Nov 5 #2
orson Nov 5 #4
uncledad Nov 5 #8
orson Nov 5 #9
def_con5 Nov 5 #3
uncledad Nov 5 #6
New Deal Democrat Nov 5 #5
uncledad Nov 5 #7

Response to uncledad (Original post)

Tue Nov 5, 2019, 06:21 PM

1. MAGA

The greatest national debt in history. So much winning.

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Response to orson (Reply #1)

Tue Nov 5, 2019, 06:46 PM

2. Waiting on his bankruptcy plan...

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Response to uncledad (Reply #2)

Tue Nov 5, 2019, 08:20 PM

4. The retreat to Florida may be the 1st move

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Response to orson (Reply #4)

Tue Nov 5, 2019, 09:50 PM

8. I thought he was setting up to winter there.

DC is a cold nasty place in the winter of impeachment.

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Response to uncledad (Reply #8)

Tue Nov 5, 2019, 10:05 PM

9. I've heard Florida is a bankruptcy friendly state

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Response to uncledad (Original post)

Tue Nov 5, 2019, 08:02 PM

3. And tax revenue continue to rise

It's the spending, the major problem is the automatic spending programs. Nearly two thirds of spending is neither budgeted or appropriated.

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Response to def_con5 (Reply #3)

Tue Nov 5, 2019, 09:42 PM

6. The last tax cut adds $ 1 trillion to tab .

I'm fine with an overhaul of the entire government to include spending and the Constitution.

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Response to uncledad (Original post)

Tue Nov 5, 2019, 08:33 PM

5. Tax cuts pay for themselves.

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Response to New Deal Democrat (Reply #5)

Tue Nov 5, 2019, 09:44 PM

7. The bigger the boat, the better they float.

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Moneymoney