Welcome to the $30 Trillion Club America!

According to the NYT, the US government surpassed $30 trillion in debt for the first time ever February 7th. Pop the champagne!

https://www.nytimes.com/2022/02/01/us/politics/national-debt-30-trillion.html

What a wonderful time to have this much debt! 🙂 Interest rates are clearly heading higher, perhaps significantly. What could possibly go wrong?

How did it get this way? Why did we let it happen? Does it even matter?

This page is a permanent link to the reply below and its nested replies. See all post replies »

NoGamesTolerated · F

Warning! That bubble is about to burst. Beware!

irishmolly72 · 56-60, F

@NoGamesTolerated Are you trying to trigger another Babson Break? On September 5, 1929, he gave a speech in which he proclaimed, "Sooner or later a crash is coming, and it may be terrific." 😳

NoGamesTolerated · F

@irishmolly72 My dear person, I’m not trying to trigger anyone. But I am smart enough that when you only have x amount of money.. and you keep spending large sums of money like there is no tomorrow, you can well believe a crash is indeed coming! Yes I say to anyone that will listen , the bubble will indeed burst and be worse .. much worse than the Great Depression.. I don’t mean to sound so dark and dreary but people need to arouse out of their slumber… and realize it’s coming.

irishmolly72 · 56-60, F

@NoGamesTolerated Thank you sweetheart. I was paying you a compliment, Rodger Babson was incredibly prescient.

NoGamesTolerated · F

@irishmolly72 Thank you as well. 🤗