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US Debt Clock

This is kind of fascinating to watch. I see the unemployment goes up about every minute.
Look at how much each US citizen owes to the national debt currently. Better hope the government doesn't decide to cash in.
Actually sounds like something that could be possible with the current crazy party running the show.

https://www.usdebtclock.org/
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CountScrofula · 41-45, M
Debt doesn't really work like that since the debt is almost entirely borrowed from the US itself. If the GDP is stable and the credit rating is good, you can be in debt permanently. The entire British empire was built on debt. US debt was WAY worse for WWII but the economy caught fire in the postwar period and it was fine. The Republicans know that debt is basically free money, and so campaign on cuts then cut revenue and spend recklessly.

The issue is uh, the GDP is not stable. The US credit rating is not good. Many major sectors are suffering and most of the thriving ones are based on speculation like AI. If things crash, the US may not dig itself out of the hole like it did in 2008 because literally nothing is being done to keep the runaway problems in check.
RedBaron · M
I don’t like Trump either, but it’s not actually fair to blame the Republicans for the debt increasing. It grows continuously regardless of which party is in power.
Tracos · 51-55, M
@RedBaron it's not only about how the debt increases, but where the money flows... And where it ends up
RedBaron · M
@Tracos It’s all about the same. There’s a great deal of stürm und drang around it, especially by the party out of power, but it doesn’t really change anything.
Tracos · 51-55, M
It's not the the people who are in debt and the us government that can cash in
It's the us government that's owing the money to pension plans and national and foreign banks

The recent massive loans actually downgraded the us credit rating, increasing the interest rate at which the us can borrow money

https://www.pgpf.org/article/with-38-trillion-in-debt-is-the-u-s-headed-for-more-credit-downgrades/
Just4fun · 51-55, M
The really weird thing is the debt keeps the world a float. Not that we shouldn’t reduce it
AnnaStark · 18-21, FNew
He's sinking the ship, so building warships must be the answer.

 
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