[Bluehorseshoe]

Damn Democrats!!!

National debt tops $22 trillion for first time in U.S. history

By Kathryn Watson

Updated on: February 12, 2019 / 5:27 PM / CBS News

The U.S. national debt has topped $22 trillion for the first time in history, according to daily figures released by the Treasury Department on Tuesday.

The debt has ballooned by more than $2 trillion in the two years since President Trump took office in January 2017, when the debt stood at $19.9 trillion. It surpassed $21 trillion for the first time in history in March 2018. Under the Obama administration, the national debt grew from $10.6 trillion to $19.9 trillion, an increase that drew sharps criticism from Republicans.

In an interview with the Washington Post in 2016, Mr. Trump vowed to eliminate the national debt "over a period of eight years." Top White House economic adviser Larry Kudlow, who joined the White House after the president said he would eliminate the debt, told CBS News last month Mr. Trump probably didn't mean he would eliminate the debt entirely.

Is fiscal conservatism dead?

"I don't know, you know, I wasn't there, I read about some of this — I think what he was really referring to was he would stop the upward rise as a burden on the economy," Kudlow said in January. "In other words, to me, the measure is not, what is the deficit or this or that. It's as a share of GDP. That's your burden on the economy. And I would argue that it is and will continue to come down as a burden on the economy."

But the ratio of debt-to-GDP has also increased, something that's unusual in a strong economy. In June 2018, the Congressional Budget Office said in a report that the level of debt as a share of GDP had reached its highest levels since World War II.

Michael Peterson, CEO of the Peter G. Peterson Foundation, a fiscal policy think tank, said Tuesday's milestone is only "the latest sign that our fiscal situation is not only unsustainable, but accelerating."

"Our growing national debt matters because it threatens the economic future of every American," Peterson said in a statement. "As we borrow trillion after trillion, interest costs will weigh on our economy and make it harder to fund important investments for our future ... In order to build the strong and stable future that we want for America, we must put our fiscal house in order and begin to manage our national debt."

[d2bets]

And tax receipts are down, go figure. Deficit up 77% this year.

[Thor4140]

Can you imagine handing this guy a stable economy and he and his fake Conservative party drum up another 2 trillion on the debt. Anyone actually think the debt matters to this clown who has filed bankruptcy several times? Republican conservatism at its finest.

[Thor4140]

Ah don’t worry the jobs created from trickledown economic will create the income to stop the spiraling deficit and debt. Like the idiot Texagan said it would

[Bluehorseshoe]

The nation’s trade deficit shot to a 10-year high in 2018 despite frenzied efforts by the Trump White House to reduce the gap, reflecting both the strength of the U.S. economy and the thorny nature of a problem that’s bedeviled presidents for decades.

The deficit jumped nearly 19% in December to a seasonally adjusted $59.8 billion, according to a government report that was delayed by the government shutdown earlier in the year. That’s the single biggest monthly gap since October 2008.

The increase pushed the total for the full year to $621 billion, the highest mark since the U.S. posted a $709 billion deficit in 2008 during the middle of the last recession.

[L8night]

Didn't Donnie promise to get rid of the National Debt in 8 years?,that would mean we would have to reelect him, should we blindly follow a man who has had at least 4 bankruptcies? I'm sure things will be fine, because he wouldn't lie to us would he?

[Bluehorseshoe]

Didn't Donnie promise to get rid of the National Debt in 8 years?,that would mean we would have to reelect him, should we blindly follow a man who has had at least 4 bankruptcies? I'm sure things will be fine, because he wouldn't lie to us would he?

That's why I'm starting to think Russia did 9/11. That was all about destroying the U.S. economy. That didn't work, so follow it up with a guy who can't run a casino let alone a country.

[khicks26]

Didn't Donnie promise to get rid of the National Debt in 8 years?,that would mean we would have to reelect him, should we blindly follow a man who has had at least 4 bankruptcies? I'm sure things will be fine, because he wouldn't lie to us would he?

6 bankruptcies. Some say at the currant pace we are on. In 20 or 30 years we will only be able to pay the interest on the debt & pay for our bloated military.

Sounds like a libertarian wet dream. Everyone in debt to the 1% & the military to protect their interest. Welcome to neo-feudalism.

[Russian Rocket]

That's why I'm starting to think Russia did 9/11. That was all about destroying the U.S. economy. That didn't work, so follow it up with a guy who can't run a casino let alone a country.

9/11...Russia...wait what?

Dude come the fukk on right now

Please don't bring Russia into this mess

You do realize that the only people that you need to blame for your Debt is the leadership of your own country (past and present)

Don't try to shift blame on someone else- it makes you look weak and retarded

[5mike5]

That's why I'm starting to think Russia did 9/11. That was all about destroying the U.S. economy. That didn't work, so follow it up with a guy who can't run a casino let alone a country.

we are destroying our own economy with debt and keep just making it worse by the day..

Russia and 9/11? good grief...call in with Ajones

[khicks26]

9/11...Russia...wait what?

Dude come the fukk on right now

Please don't bring Russia into this mess

You do realize that the only people that you need to blame for your Debt is the leadership of your own country (past and present)

Don't try to shift blame on someone else- it makes you look weak and retarded

From what I hear Russia doesn't care for terrorism at all.

Still don't know why people don't look at Saudis & Israel when it comes to 9/11.

[Bluehorseshoe]

9/11...Russia...wait what?

Dude come the fukk on right now

Please don't bring Russia into this mess

You do realize that the only people that you need to blame for your Debt is the leadership of your own country (past and present)

Don't try to shift blame on someone else- it makes you look weak and retarded

I'm going with it. I don't care.

[Russian Rocket]

From what I hear Russia doesn't care for terrorism at all.

Still don't know why people don't look at Saudis & Israel when it comes to 9/11.

Russia hunts terrorists like dirty rats internally and externally - Western media just chooses not to report about it

Russia even warned you guys twice about Tsarnaev bros...and all those warnings fell on death ears

[Russian Rocket]

I'm going with it. I don't care.

"I don't care" is the wrong attitude to have, when you got yourself a massive 23 trillion dollar turd to play with

[khicks26]

Russia hunts terrorists like dirty rats internally and externally - Western media just chooses not to report about it

Russia even warned you guys twice about Tsarnaev bros...and all those warnings fell on death ears

True, we would rather pay & arm terrorist to fight BS wars in the Middle East.

[Russian Rocket]

True, we would rather pay & arm terrorist to fight BS wars in the Middle East.

Precisely

[MinnesotaFats]

6 bankruptcies. Some say at the currant pace we are on. In 20 or 30 years we will only be able to pay the interest on the debt & pay for our bloated military.

Sounds like a libertarian wet dream. Everyone in debt to the 1% & the military to protect their interest. Welcome to neo-feudalism.

People will just stop paying their taxes well before this.

Anymore "soak the rich" talk and the 5,000,000 or so that actually pay the lions share of income tax will just form a coalition and stop paying... you cant lock em up and can't run their businesses without them so WTF could Gov't do?

[khicks26]

People will just stop paying their taxes well before this.

Anymore "soak the rich" talk and the 5,000,000 or so that actually pay the lions share of income tax will just form a coalition and stop paying... you cant lock em up and can't run their businesses without them so WTF could Gov't do?

You mean like Amazon paying 0 in tax's?


There's a lot they could do. Seeing that the 1% holds most of the US debt, the government could tax it away.

You could do what was done in ancient times & have a debt jubilee.

Or you could turn the people with pitch forks against them.

“When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.”

[khicks26]

The Vandels took the Handle.

[rkelly110]

Didn't Donnie promise to get rid of the National Debt in 8 years?,that would mean we would have to reelect him, should we blindly follow a man who has had at least 4 bankruptcies? I'm sure things will be fine, because he wouldn't lie to us would he?

Don't know, he spews so much shit no one of can remember and frankly he doesn't either.........

[L8night]

No right wing tea party buds chiming in to tell me everything will be alright and I just have TDS.....

[Russian Rocket]

...

Edit: wrong thread

[PAULYPOKER]

Everyday the national debt breaks a new record for
the first time ever since they kept track of it...........

[RoyBacon]

Dems and Patriots should work together to cut non military spending. We can all agree on that.

[HockeyRocks]

Dems and Patriots should work together to cut non military spending. We can all agree on that.

"And I Alone Can Fix It' Words from your stupid fukking president.....Should even make you laugh your azz off Chump#1.

[RoyBacon]

"And I Alone Can Fix It' Words from your stupid fukking president.....Should even make you laugh your azz off Chump#1.

Yea, he says a lot of funny stuff!

Let's see what spending cuts you tards present.

[L8night]

Yea, he says a lot of funny stuff!

Let's see what spending cuts you tards present.

I guess we could start with cutting the Secret Service having to rent golf carts when Donnie goes golfing, I hear they spend a lot on that, how about we just cut the SS altogether, I mean Donnie is a tough guy, he can afford his own security force, I hear Eric Prince needs a new gig....

[RoyBacon]

I guess we could start with cutting the Secret Service having to rent golf carts when Donnie goes golfing, I hear they spend a lot on that, how about we just cut the SS altogether, I mean Donnie is a tough guy, he can afford his own security force, I hear Eric Prince needs a new gig....

OK, how about Trump forfeits his salary? That cover it?

Next, let's stop cost of living increases on all welfare. You good with that?

[dante1]

OK, how about Trump forfeits his salary? That cover it?

Next, let's stop cost of living increases on all welfare. You good with that?

read the above BS, that was done roy many times. Millions of Americans are food poor, but you don't give a shit as long as your wealth remains. you are quite a guy, a real humanitarian.


another fact is the trade deficit has reached tremendous numbers. I personally don't think that is a big deal, but if you are a real true R it is supposed to be close to the end of the world. Those tariffs did wonders for our trade deficit. The man at the helm is an idiot. Trade wars are easy to win. Even some American businesses are beginning to bitch.


but, I guarantee you if a D wins in 2020 all these deficits will need to be reduced drastically, and somehow it will be Obamas or Clinton's fault, and guess what the R party will suggest.

[dante1]

I guess we could start with cutting the Secret Service having to rent golf carts when Donnie goes golfing, I hear they spend a lot on that, how about we just cut the SS altogether, I mean Donnie is a tough guy, he can afford his own security force, I hear Eric Prince needs a new gig....

the good part L8 is despite his constant BS and lies, 64% of the American people know he is a criminal or at least suspects it. He has denied offenses with such vigor and determination many people are thinking..." he protests too much". of course he is a criminal, I don't know to what level, and maybe not Russia but he is a rotten bastard, and has no feelings for America or Americans.


64% of the people, well that means even a bunch of R believe it. what that figure doesn't tell you is plenty of those same people will vote for him again. people like roy who has one concern only--his bank account.

[RoyBacon]

A lot of hot air there dante...what a shock I know..

We spend too much period. We are spendaholics.

We need solid ideas to curb spending. I threw mine out; stop cost of living increases when we are in deficit spending mode. Your idea? hot air.