FEDERAL DEBT PRIMED TO EXPLODE...

[Zippyjuan]

Okay. Notable government spending is the determining factor.

Which we need to talk to Congress about. Republicans only complain about deficits when they are not in charge.

 

[Krugminator2]

Which we need to talk to Congress about. Republicans only complain about deficits when they are not in charge.

Should have said "isn't". Republicans should worry about spending. Deficits and surpluses don't matter. All that matters is spending takes resources out of the private economy. If they run deficits from a tax shortfall, that isn't a big deal at all.

As far as the interest on the debt which I see you bring up, that is the best thing government can spend money on. It doesn't take any physical resources away from the private economy.

 

[Pauls' Revere]

Those darned tax and spend liberals ringing up debt right and left! Wait- this was the cut taxes and spend Republicans bringing back the $trillion deficits.

Government doing what it does best.

 

[DamianTV]

Those darned tax and spend liberals ringing up debt right and left! Wait- this was the cut taxes and spend Republicans bringing back the $trillion deficits.

How about those darned Federal Reserve Bank supporters and Fiat Currency supporters and those that think Gold and Work are commodities that the elite should just trade around instead of doing real work!

 

[Zippyjuan]

Should have said "isn't". Republicans should worry about spending. Deficits and surpluses don't matter. All that matters is spending takes resources out of the private economy. If they run deficits from a tax shortfall, that isn't a big deal at all.

As far as the interest on the debt which I see you bring up, that is the best thing government can spend money on. It doesn't take any physical resources away from the private economy.

Government borrowing can start to squeeze out private borrowing and raise the costs of borrowing money (we aren't at this point yet though).

 

[Aratus]

Zippyjuan is correct. The destructive inflationary spiral that destroys gov'ts
comes into play if the U.S Treasury dep't printz paper money not tethered
to metal(s) and/or a commodity like old Confederate(cotton backed)notes.
The public debt pushes all else elsewhere. Stagflation like the 70s was/is
survivable. A GREAT RECESSION and/or GREAT DEPRESSION looms by '35.

 

[enhanced_deficit]

Pelosi is back, so things could start happening faster now:

[h=3]Trump, Schumer, Pelosi Consider Repealing Debt Ceiling Altogether[/h]

 

[Zippyjuan]

Pelosi is back, so things could start happening faster now:

[h=3]Trump, Schumer, Pelosi Consider Repealing Debt Ceiling Altogether[/h]

Good thing the Republicans reduced the deficit before the Democrats get the House. Things like cut spending and not cut taxes.

https://thehill.com/homenews/admini...se-budget-projects-1-trillion-deficit-in-2019

White House budget projects $1 trillion deficit in 2019

The White House’s midyear budget projections see federal deficits surpassing $1 trillion in 2019.

In an annual budget review, the White House’s Office of Management and Budget (OMB) estimated that new legislation enacted since the release of its February budget — alongside new projections on other spending and receipts — would add $101 billion more to the 2019 deficit, pushing it above $1 trillion.

That figure would amount to 5.1 percent of the United States's gross domestic product, the nation’s total economic output.

The midyear budget review was released quietly on Friday.

Estimates from the nonpartisan Congressional Budget Office had forecast the deficit to near $1 trillion in 2019, but not pass it until 2020.

Budget watchdogs said that deficits had doubled in recent years as a result of bipartisan spending agreements and the GOP tax-cut law passed in December.

 

[enhanced_deficit]

[h=1]Household debt hit a record high of $13.5 trillion last quarter[/h]Total household debt is now $837 billion higher than its previous peak, which was in 2008 before the recession.



The Federal Reserve headquarters in Washington.Kevin Lamarque / Reuters file
Nov. 16, 2018

By Reuters
The total debt shouldered by Americans has hit another record high, rising to $13.5 trillion in the last quarter, while an unusual jump in student-loan delinquencies could provide another signal that the nation's economic expansion is growing old.

Flows of student debt into serious delinquency — of 90 or more days — rose to 9.1 percent in the third quarter from 8.6 percent in the previous quarter, according to data from the Federal Reserve Bank of New York.
It was a reversal after a period of improvement for student debt, which totaled $1.4 trillion. Such delinquency flows have been rising on auto debt since 2012 and on credit card debt since last year, which could raise a red flag for economists.