National debt hits $21 trillion

[r3volution 3.0]

Good point.

But it was obviously a 43D chess move which caused Trump to not only not veto giant spending bills, but to positively propose more spending.

...and to nearly shut down the government because it didn't spend enough.

 

[enhanced_deficit]

22 Trillion Dollars*

As of 7PM today, national debt per tax payer was $181, 524 !!!

Gundlach: Last year debt increased by 6+% of GDP





Caution: Link contains data that some may find trounling

https://www.usdebtclock.org/





Related

[h=1]Thank You Big Government... 17,617,000 Americans Work for Government![/h]

MAGA times are great for Big Government also. Ron Swanson be upset though.

[SIZE=+7]17,617,000 Americans Work for Government!
[/SIZE]

Want to Make Money? Work for the Government

May 8, 2019

Which class of full-time, year-round American workers has the highest median earnings? Is it the class that works for private-sector employers? Is it the class that works for the government? Or is it the entrepreneurial class, who are self-employed?

According to the Census Bureau's Personal Income Table 07 (PINC-07), the competition isn't close. When it comes to making money in the modern United States of America, government workers win.

[SIZE=+7]

[/SIZE]

 

[Firestarter]

Thank you Trump, for following the wonderful example of Obama and Bush Jr!
Slashing the taxes for big corporations and for the wealthy. Will Trump even achieve the nearly impossible? Again doubling the US national debt? The banksters are already counting their interests...

During Trump’s first 2 years in office, US federal government deficits have already driven the national debt up by $3 trillion – from $19.5 trillion to $22.5 trillion. That´s even faster than his predecessors, George Bush and Barack Obama.
The 2018 Trump tax cuts have reduced US government revenues by about $500 billion in 2018; add another $.5 trillion per year in the continuing of the Bush-Obama era tax cuts; another $.4 trillion in Trump war and other spending hikes during his first two years; and more than $.6 trillion in interest payments on the debt — and you reach the $3 trillion added to the national debt in 2017 and 2018.

When George Bush Jr. took office in 2001 the national debt was $5.6 trillion; it almost doubled in 8 years to approximately $10 trillion. When Obama left office in 2016 it had almost doubled again to $19.6 trillion.
Under President George Bush Jr. there were more than $4 trillion in tax cuts. The US army got several trillions additionally.
Obama cut another $300 billion in taxes in 2009 and then extended the Bush tax cuts, scheduled to expire in 2010, for two more years to 2012 (costing another $900 billion). Then came another $806 billion in tax cuts for business. In January 2013, Obama extend Bush’s tax cuts for another decade —costing a further $5 trillion until 2023.
Both Bush and Obama cut taxes by approximately $4 trillion each. And defense-war spending long term costs rose by $6 trillion in total. Roughly a $14 trillion increase to the $5.6 trillion debt of 2000.

To this Trump has since added another $3 trillion during, which adds up to the “current” $22.5 trillion.
The Treasury Advisory Committee recently warned the US Treasury that it will have to sell $12 trillion more US Treasury bonds, bills and notes, over the next decade, 2018-2028. That’s $12 trillion on top of $22.5 trillion national debt or a $34 trillion national debt by 2028!

In January 2018 the Trump tax cut provided $4.5 trillion tax reduction from 2018 to 2028, for businesses, multinational corporations, wealthy households, and investors. US multinationals alone get nearly half of that $4.5 trillion.
But starting this year, 2019, the middle class will begin paying for those tax reductions for corporate America, investors and the wealthy 1%. Already tax refunds for the average household are down 17%. The tax hike starts in earnest by 2022; middle class will pay $1.5 trillion in higher taxes by 2028.

Today’s $22.5 trillion, rising to $34 trillion, is just the US national government debt. Total US debt includes state and local government debt, household debt, corporate bond and business commercial & industrial loan debt, central bank balance sheet debt, and government agencies (GSEs) debt. Add these other forms of debt to the national debt makes the total debt in the US rises some $53 trillion. This lead to an estimated grand total US debt of more than $70 trillion by 2028 (the $900 billion a year in interest charges for the banksters is probably too low an estimate): https://www.counterpunch.org/2019/03/15/trumps-34-trillion-deficit-and-debt-bomb/
(archived here: http://archive.is/hzpeF)

 

[enhanced_deficit]

Thank you Trump, for following the wonderful example of Obama and Bush Jr!
...

To be fair, he was open about his style.

 

[Pauls' Revere]

This is why we need more immigrants (legal or otherwise) to becomes citizens. Then the debt per citizen will drop and everything will be cheaper... its all just a matter of book keeping. LOL

 

[Danke]

Thank you Trump, for following the wonderful example of Obama and Bush Jr!
Slashing the taxes for big corporations and for the wealthy. Will Trump even achieve the nearly impossible? Again doubling the US national debt? The banksters are already counting their interests...

During Trump’s first 2 years in office, US federal government deficits have already driven the national debt up by $3 trillion – from $19.5 trillion to $22.5 trillion. That´s even faster than his predecessors, George Bush and Barack Obama.
The 2018 Trump tax cuts have reduced US government revenues by about $500 billion in 2018; add another $.5 trillion per year in the continuing of the Bush-Obama era tax cuts; another $.4 trillion in Trump war and other spending hikes during his first two years; and more than $.6 trillion in interest payments on the debt — and you reach the $3 trillion added to the national debt in 2017 and 2018.

When George Bush Jr. took office in 2001 the national debt was $5.6 trillion; it almost doubled in 8 years to approximately $10 trillion. When Obama left office in 2016 it had almost doubled again to $19.6 trillion.
Under President George Bush Jr. there were more than $4 trillion in tax cuts. The US army got several trillions additionally.
Obama cut another $300 billion in taxes in 2009 and then extended the Bush tax cuts, scheduled to expire in 2010, for two more years to 2012 (costing another $900 billion). Then came another $806 billion in tax cuts for business. In January 2013, Obama extend Bush’s tax cuts for another decade —costing a further $5 trillion until 2023.
Both Bush and Obama cut taxes by approximately $4 trillion each. And defense-war spending long term costs rose by $6 trillion in total. Roughly a $14 trillion increase to the $5.6 trillion debt of 2000.

To this Trump has since added another $3 trillion during, which adds up to the “current” $22.5 trillion.
The Treasury Advisory Committee recently warned the US Treasury that it will have to sell $12 trillion more US Treasury bonds, bills and notes, over the next decade, 2018-2028. That’s $12 trillion on top of $22.5 trillion national debt or a $34 trillion national debt by 2028!

In January 2018 the Trump tax cut provided $4.5 trillion tax reduction from 2018 to 2028, for businesses, multinational corporations, wealthy households, and investors. US multinationals alone get nearly half of that $4.5 trillion.
But starting this year, 2019, the middle class will begin paying for those tax reductions for corporate America, investors and the wealthy 1%. Already tax refunds for the average household are down 17%. The tax hike starts in earnest by 2022; middle class will pay $1.5 trillion in higher taxes by 2028.

Today’s $22.5 trillion, rising to $34 trillion, is just the US national government debt. Total US debt includes state and local government debt, household debt, corporate bond and business commercial & industrial loan debt, central bank balance sheet debt, and government agencies (GSEs) debt. Add these other forms of debt to the national debt makes the total debt in the US rises some $53 trillion. This lead to an estimated grand total US debt of more than $70 trillion by 2028 (the $900 billion a year in interest charges for the banksters is probably too low an estimate): https://www.counterpunch.org/2019/03/15/trumps-34-trillion-deficit-and-debt-bomb/
(archived here: http://archive.is/hzpeF)

Makes one wonder how its will all end.

But, neither Bush, Obama nor Trump write spending bills. That would be congress.

 

[enhanced_deficit]

Drudge has been pushing quite a few anti-MAGA headlines lately but in following case might not be a bad thing as no one seems to care about big gummit debt/deficit spending anymore:

[FONT=ARIAL,VERDANA,HELVETICA][SIZE=+7]MORE SPENDING, MORE DEBT
$320 BILLION BLOWOUT!
DEAL KEEPS LIGHTS ON [/SIZE][/FONT][FONT=ARIAL,VERDANA,HELVETICA][SIZE=+7] [/SIZE][/FONT][FONT=ARIAL,VERDANA,HELVETICA][SIZE=+7]

[/SIZE][/FONT]
​

 

[brushfire]

We have to abandon responsible spending principles in order to save responsible spending.

Now blow on those flames, b!tches...

 

[r3volution 3.0]

Makes one wonder how its will all end.

The loot with which votes are purchased will run out and the government will collapse.

 

[Badger Paul]

Enjoy the Budget Deal....

 

[Anti Globalist]

22 trillion+ and it isn't going to be paid off anytime soon.

 

[Occam's Banana]

22 trillion+ and it isn't going to be paid off anytime soon.

It's never going to be paid off.

Sooner or later, though, it is going to be written off ...

 

[enhanced_deficit]

Afghanistan's security forces lost 42,000 troops in the last year in a crackdown on 'ghost soldiers'

Idrees Ali, Reuters
August 01, 2019 at 07:37 AM
news
Soldiers with 2nd Kandak, 2nd Brigade, Afghan National Army (ANA) 215th Corps wait for the order to move during a military operations on urban terrain (MOUT) exercise at Camp Shorabak

(U.S. Marine Corps/Sgt. Luke Hoogendam)
WASHINGTON (Reuters) - There has been a sharp drop in the size of Afghanistan's National Defense Security Forces in the past few months due to changes in the way troops are counted and an effort to reduce the number of so-called "ghost" soldiers, a U.S. government watchdog said on Thursday.

The Special Inspector General for Afghanistan Reconstruction (SIGAR) said in a report that ANDSF personnel size had gone down by nearly 10 percentage points in the most recent quarter compared to the previous trimester.

https://taskandpurpose.com/afghan-se...s-sigar-report



State Department wasted $100M on Afghan camp despite early warnings: Report

• lee ferran Aug 1, 2019

The U.S. State Department spent over three years and more than $100 million on a project to rebuild a base in Afghanistan that was never rebuilt, even though the department was warned it was a bad idea from the start, according to an incisive new government watchdog report.
https://abcnews.go.com/Politics/stat...ry?id=64683930

 

[enhanced_deficit]

There are rumors in media that GOPA wing leadership is planning to make a big play that would sharply spike debt and cut through debt ceilings.

[h=1]Donald the debt junkie[/h]

He comes from socialism background, to be fair.

 

[r3volution 3.0]

22 Trillion Dollars*

And a year later we're at $23.5 trillion, with multi-trillion dollar deficits far as the eye can see

 

[AZJoe]

 

[enhanced_deficit]

Yea that curve probably won't be flattened anytime soon.

 

[enhanced_deficit]

National Debt Could Surpass $25 Trillion Amid Spending to Combat Coronavirus

By Jason Lemon On 3/23/20

The national debt is projected to reach or even surpass $25 trillion as the federal government attempts to combat the fall-out from the coronavirus pandemic with trillions of dollars in economic stimulus.
States and municipalities across the country have shuttered restaurants, bars, gyms, cinemas, schools, and public gatherings, while ordering all non-essential workers to stay home in a bid to curb the rapid spread of the COVID-19. Due to the uncertainty, the stock market has tanked and unemployment has surged, with millions of workers expecting to go without paychecks for at least the next few weeks.
In an effort to address the economic and public health concerns, Congress is currently working on a massive stimulus package to the tune of $1.3 to $1.4 trillion, according to President Donald Trump's economic adviser Larry Kudlow. In total, the White House has hinted at $2 trillion or more of economic stimulus.
The stimulus spending will come as the U.S. was already planning for a budget deficit of about $1 trillion in the current fiscal year. As the national debt already stands at about $23.5 trillion, CNBC reported on Monday that the ballooning debt could grow to $25 trillion or higher in the coming months.

https://www.newsweek.com/national-d...lion-amid-spending-combat-coronavirus-1493758

 

[enhanced_deficit]

Make that $24T.
The Bi-partisan Big Spending era is upon us and "no one has seen anything like this before".

Federal Debt Tops $24 Trillion for First Time; GAO: 'The Current Federal Fiscal Path is Unsustainable'

By Terence P. Jeffrey | April 9, 2020

(CNSNews.com) - The debt of the federal government topped $24 trillion for the first time on Tuesday, when it climbed from $23,917,212,663,857.59 to $24,011,523,316,653.36, according to data released by the Treasury Department.
On Wednesday, it continued climbing, ascending to $24,111,832,049,884.90.
The federal debt's climb from the $23-trillion threshold to the $24-trillion threshold was the fastest climb from one trillion-dollar marker to another in the history of the federal debt—taking only 159 days.

cnsnews.com/article/washington/terence-p-jeffrey/federal-debt-tops-24-trillion-first-time-gao-current-federal

 

[Pauls' Revere]

Now at 24 Trillion.

https://decrypt.co/25041/us-debt-hits-24-trillion-as-bitcoin-marches-on



The US national debt has broken $24 trillion.
It has increased $8 trillion in the last year.
In contrast, Bitcoin has a fixed supply.
The US national debt has surpassed $24 trillion—the largest nominal amount it’s ever been—according to the US Treasury. This is $8 trillion more than it was in March 2019.