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real-human
Joined: 02 Jul 2011
Posts: 14928
Location: on earth
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 Posted: Wed Aug 26, 2020 7:28 am Post subject: US Debt Is Now Larger Than the Economy. Does It Matter? |
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https://finance.yahoo.com/news/us-debt-now-larger-economy-220707871.html
US Debt Is Now Larger Than the Economy. Does It Matter?
| Quote: | The national debt is now roughly the size of the U.S. economy, crossing a threshold that has long worried deficit hawks and many economists.
At the end of 2019, the federal debt held by the public stood at $17 trillion, roughly 80% the size of the U.S. economy, and government projections showed it growing to 100% of the economy in about 10 years. But thanks to trillions of dollars of spending in response to the coronavirus recession this year, and the contraction of the economy itself, the debt now stands at 106% of gross domestic product — a 25% increase in a matter of months. |
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when good people stay silent the right wing are the only ones heard. |
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vientomas
Joined: 25 Apr 2000
Posts: 2343
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| Posted: Wed Aug 26, 2020 8:01 am Post subject: Re: US Debt Is Now Larger Than the Economy. Does It Matter? |
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| real-human wrote: | https://finance.yahoo.com/news/us-debt-now-larger-economy-220707871.html
US Debt Is Now Larger Than the Economy. Does It Matter?
| Quote: | The national debt is now roughly the size of the U.S. economy, crossing a threshold that has long worried deficit hawks and many economists.
At the end of 2019, the federal debt held by the public stood at $17 trillion, roughly 80% the size of the U.S. economy, and government projections showed it growing to 100% of the economy in about 10 years. But thanks to trillions of dollars of spending in response to the coronavirus recession this year, and the contraction of the economy itself, the debt now stands at 106% of gross domestic product — a 25% increase in a matter of months. |
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Trump's doing his best to bankrupt the nation like his many businesses. |
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wsurfer
Joined: 17 Aug 2000
Posts: 1635
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nw30
Joined: 21 Dec 2008
Posts: 6485
Location: The eye of the universe, Cen. Cal. coast
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| Posted: Wed Aug 26, 2020 12:22 pm Post subject: |
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| 25 billion to the USPO, no problem, we can just print more money! |
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mac
Joined: 07 Mar 1999
Posts: 17764
Location: Berkeley, California
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| Posted: Wed Aug 26, 2020 12:34 pm Post subject: |
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| nw30 wrote: | | 25 billion to the USPO, no problem, we can just print more money! |
Trillions to the rich, NW has a cow over making sure that people can get their mail--and Democrats can vote.
Not a surprise. Math failure, or perhaps just a spelling failure?
one billion: 1,000,000,000
one trillion: 1,000,000,000,000
See the difference? |
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boggsman1
Joined: 24 Jun 2002
Posts: 9126
Location: at a computer
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| Posted: Wed Aug 26, 2020 12:37 pm Post subject: |
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| nw30 wrote: | | 25 billion to the USPO, no problem, we can just print more money! |
True statement NW you're catching on !.Trump/Powell have printed the equivalent of two years budgets for the entire US GOVT in the last 5 months. INSANITY |
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real-human
Joined: 02 Jul 2011
Posts: 14928
Location: on earth
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| Posted: Wed Aug 26, 2020 12:52 pm Post subject: |
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| nw30 wrote: | | 25 billion to the USPO, no problem, we can just print more money! |
I bet most of the major losses have to do with low density areas. I do believe that in rural areas they need to pay their fair share of shipping and postage. Allow for a reasonable cost for them to pick up at their city post office, but delivery to no-where should be the actual cost (no -profit though). Including alaska and Hawaii. Iowa, idaho, dakotas, and so on.
All this is relatively easy to figure out with todays computing technology.
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techno900
Joined: 28 Mar 2001
Posts: 4172
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| Posted: Wed Aug 26, 2020 1:19 pm Post subject: |
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Oh yeah, it's the Republicans creating the debt:
Anyone wonder why there is a deadlock? |
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boggsman1
Joined: 24 Jun 2002
Posts: 9126
Location: at a computer
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| Posted: Wed Aug 26, 2020 1:28 pm Post subject: |
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| That's a given. What's pertinent here is the long standing hoax that Republicans are fiscally conservative. The evidence is overwhelmingly contrary to that bogus notion . |
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real-human
Joined: 02 Jul 2011
Posts: 14928
Location: on earth
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| Posted: Wed Aug 26, 2020 1:30 pm Post subject: |
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| techno900 wrote: | Oh yeah, it's the Republicans creating the debt:
Anyone wonder why there is a deadlock? |
idiot there is a president and a senate that are the final sign off. But this was primarily caused started with by the trump no-trickledown 1 trillion dollar giveaway to the ultra rich that did not cause an increase in wages.
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