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Forum » National Debt = 28 Trillion. In the Last Year (COVID)... We Spent 19.5 Trillion.. WTF
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Thread: National Debt = 28 Trillion. In the Last Year (COVID)... We Spent 19.5 Trillion.. WTF

post 1637319733 04-28-2021, 06:26 PM
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National Debt = 28 Trillion. In the Last Year (COVID)... We Spent 19.5 Trillion.. WTF

I knew we were printing and spending money like crazy... but WTF... is this real? In4 fact checkers...




Either:

A) Our government is full of complete imbeciles = the average person is about to get screwed hard.

or

B) We're on the verge of some major war/conflict, some massive catastrophe, or a huge economic reset and the elite behind the scenes are using COVID spending as cover = the average person is about to get screwed hard.
"There's a fine line between salvation and drinking poison in the jungle." -Gym Jones
"The soul becomes dyed with the color of its thoughts." - Marcus Aurelius

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post 1637319883 04-28-2021, 06:28 PM
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Is it really spending if the money isn't backed by anything?

If I go to the supermarket and pay for my groceries with monopoly money and the cashier is dumb enough to accept it, did I actually spend anything?
post 1637319973 04-28-2021, 06:29 PM
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u DO realize that america isnt exactly runned by americans right? i mean theres no way a country could just self destruct in every capacity the way america did by complete accident.
post 1637320093 04-28-2021, 06:30 PM
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Something about those numbers doesn't seem right.
"There's a fine line between salvation and drinking poison in the jungle." -Gym Jones
"The soul becomes dyed with the color of its thoughts." - Marcus Aurelius

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post 1637320183 04-28-2021, 06:32 PM
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post 1637320263 04-28-2021, 06:33 PM
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Literally spent every single dollar we made (gdp).

That is not sustainable.
post 1637320323 04-28-2021, 06:33 PM
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Originally Posted By eternalnoob⏩
Is it really spending if the money isn't backed by anything?

If I go to the supermarket and pay for my groceries with monopoly money and the cashier is dumb enough to accept it, did I actually spend anything?
If you're at the top of the food chain no. But once that money works its way down to the average person... those people are the ones who absolutely get screwed. So if you're a bank/government/first spender you get the complete bang for your buck. It's every else that it then trickles down to that has to deal with the inflation rape.
"There's a fine line between salvation and drinking poison in the jungle." -Gym Jones
"The soul becomes dyed with the color of its thoughts." - Marcus Aurelius

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post 1637320443 04-28-2021, 06:34 PM
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Originally Posted By faxanadu⏩
Something about those numbers doesn't seem right.
I didn't watch the video, but the national debt was 23B at the end of 2019
post 1637320533 04-28-2021, 06:36 PM
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Time for another war
post 1637320953 04-28-2021, 06:39 PM
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Originally Posted By nothingshocking⏩
I didn't watch the video, but the national debt was 23B at the end of 2019
no it wasn't. you are off by 4 decimals you dumb fuk

that's like having $50 vs 50k in your bank account.
post 1637321223 04-28-2021, 06:42 PM
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Originally Posted By nothingshocking⏩
I didn't watch the video, but the national debt was 23B at the end of 2019
Ya thats where I'm off. Maybe he's saying the 19.5 trillion is additional debt/printing/interest in the past year that is unaccounted for?
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post 1637322403 04-28-2021, 06:58 PM
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conservatives caring about the debt again after trump kept raising the debt.
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post 1637322593 04-28-2021, 07:00 PM
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That's not even remotely accurate

https://www.statista.com/statistics/...es-since-1990/

Numbers are drawn on Sept 30th every year for those wondering about the data points on the chart.

Edit:

We spent 19.5 trillion.. nevermind that's different. I was reading that as we accumulated 19.5 trillion of debt of the 28 trillion all in one year.

Either way, who cares about debt that no one has the balls to make us pay?
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post 1637322673 04-28-2021, 07:01 PM
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That's the entire years GDP

RIP
post 1637323493 04-28-2021, 07:11 PM
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There’s a reason the fed stopped tracking m1 money supply and other inflation indicators.

Fiat currency always fails
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post 1637323773 04-28-2021, 07:16 PM
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Originally Posted By Mountaineer92⏩
conservatives caring about the debt again after trump kept raising the debt.
You live in an echo chamber then. Conservatives complained about Trumps spending too. Nice try though.
"There's a fine line between salvation and drinking poison in the jungle." -Gym Jones
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post 1637323833 04-28-2021, 07:16 PM
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The problem is people think of sovereign debt in the same context as personal debt.

The United States exists essentially in perpetuity and can essentially extend the payments out and perform other financial maneuvers with the debt.

People make it sound the national debt is the same thing as someone who keeps opening credit cards and maxing them out.

Totally different things
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post 1637323873 04-28-2021, 07:17 PM
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Originally Posted By dontstopbelief⏩
That's the entire years GDP

RIP
Debt clock site says Debt to GDP ratio is now 130%
"There's a fine line between salvation and drinking poison in the jungle." -Gym Jones
"The soul becomes dyed with the color of its thoughts." - Marcus Aurelius

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post 1637324703 04-28-2021, 07:28 PM
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All I know is that there's not even any physical representation of that amount of money anymore. It's just a number on a computer that they keep adding more zeros to. That along with Crypto......everything disappears when the power goes out. Poof!
post 1637327083 04-28-2021, 07:55 PM
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Fauci learnt this one weird trick economists hate in medical school.
post 1637327243 04-28-2021, 07:57 PM
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no problem just tax the peasants even more for generations to come, wooooooo
post 1637328473 04-28-2021, 08:11 PM
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Originally Posted By faxanadu⏩
the average person is about to get screwed hard.
Thats been happening since 1971 when America went off the gold standard.

But yes, I feel bad for people that don't have any assets to hedge the inflation because its going to worse than normal for a while..
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post 1637329293 04-28-2021, 08:22 PM
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There is absolutelythat the Trump government spent that much.


He's a republican




He's a conservative





Whenever republicans are in office, national debt decreases. Only liberals spend money on the population
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post 1637329513 04-28-2021, 08:26 PM
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Originally Posted By benedetto27⏩
This is why I'm debtmaxxing while I still can. Inflation is going to make it easy AF to repay.
that's the most beneficial strategy of publicly traded companies. If you're not taking on cheap debt right now investors will shun you.
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post 1637329633 04-28-2021, 08:28 PM
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Originally Posted By cjr169⏩
The problem is people think of sovereign debt in the same context as personal debt.

The United States exists essentially in perpetuity and can essentially extend the payments out and perform other financial maneuvers with the debt.

People make it sound the national debt is the same thing as someone who keeps opening credit cards and maxing them out.

Totally different things
explain more;. I make a lot of assumptions about it
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post 1637330393 04-28-2021, 08:41 PM
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It's the Federal Reserves fault for allowing it to happen. They have already let the inflation genie out of the bottle and he aint going back for a while. Don't believe that this inflationary period is transitory due to the stimulus to get through covid. This was happening well before covid and now that the Fed is scared chitless of causing an absolute meltdown they continue to tow the line that "it's transitory, and we'll let inflation run high while we recover" is just pure bull****. It doesn't take a retard to notice how expensive everything is getting, how scarce electronics are getting, how market fundamentals make no sense anymore. Way too much money chasing very few goods.
post 1637330973 04-28-2021, 08:51 PM
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Originally Posted By SoutheastBeast1⏩
That's not even remotely accurate

https://www.statista.com/statistics/...es-since-1990/

Numbers are drawn on Sept 30th every year for those wondering about the data points on the chart.

Edit:

We spent 19.5 trillion.. nevermind that's different. I was reading that as we accumulated 19.5 trillion of debt of the 28 trillion all in one year.

Either way, who cares about debt that no one has the balls to make us pay?
Oh, you will pay. Most of the debt is owed to ourselves in some form or other.



About 70% all together in 2018. Didn't spot a more recent year. I would expect for the government to continue to play tricks with calculating inflation to the bitter end as it affects how much money they pay out to retirees.
Originally Posted By BIGJIMSLADE22⏩
All I know is that there's not even any physical representation of that amount of money anymore. It's just a number on a computer that they keep adding more zeros to. That along with Crypto......everything disappears when the power goes out. Poof!
Odds that this is just a bug and not a feature?
Originally Posted By whitepaper⏩
There is absolutelythat the Trump government spent that much.


He's a republican




He's a conservative





Whenever republicans are in office, national debt decreases. Only liberals spend money on the population
Not sure if srs.

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post 1637331203 04-28-2021, 08:56 PM
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Originally Posted By rectifryer⏩
explain more;. I make a lot of assumptions about it
Countries issue bonds payable in 99 years etc.. try telling your credit card lender that you will pay them back in 99 years. The concept of sovereign is different from personal debt.


I think national debt was like $9 trillion before the 08 recession and now we’re at $28.5 trillion... so maybe up $19 trillion since then is fair. We spent like $5 trillion for the unprecedented multiple gov/Covid stimulus.. if trump didn’t push all the stimulus economy would have fukkin folded and we’d be even more fukked.


Own real assets because asset prices will continue to soar. Ded fukkin srs
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post 1637332573 04-28-2021, 09:15 PM
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Average people getting screwed; what else is new?
post 1637332763 04-28-2021, 09:18 PM
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I hope you boys are ready for the tax hikes
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