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Ukraine and Gaza: The US is burying itself in debt fighting foreign wars.

Interest payments due in October on the national debt now exceed the costs of both Medicare and the national defense budget. National debt may contribute to further inflation on the horizon.

This is the first time in American history that interest payments on the national debt have risen above $1T.

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PicturesOfABetterTomorrow · 41-45, M

Yep. And the US also seems to be planning to crash the world economy just to prove to China they are the bigger bully.

The US knows they cannot even win a stand up fight with Iran, forget China.

So the US strategy and the USMC is even being rebuilt for this specific purpose is to interdict and destroy Chinese merchant shipping.

Well it doesn't take a genius to figure out where Chinese shipping goes.....everywhere.

This plan is literally global economic suicide just to prove who is the king of the smoking ruins.

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PicturesOfABetterTomorrow · 41-45, M

@LeopoldBloom I don't disagree with the general premise but there are plenty of militaries you could use as an example that are not committing genocide.

sree251 · 41-45, M

@LeopoldBloom

The Israeli army is like half women, and they seem pretty effective. Maybe you should serve in the US military for a few years before opining on female or trans soldiers when your opinion is informed only by the degenerate cult you follow.

My cult comes from the traditional approach to division of labor: women must always be protected from dangerous work.

TheShanachie · 61-69, M

Inevitably Trump and Vance will both receive the death penalty. Our group reached out to the Kremlin to help with burial costs, even offering to send both bodies by ship to the Kremlin for burial there, since that is their employer. They refused, saying that both would then be “used up” by then. This should answer your questions.

sree251 · 41-45, M

@TheShanachie

Inevitably Trump and Vance will both receive the death penalty.

You are in the wrong forum. This thread does not concern you.

TheShanachie · 61-69, M

@sree251 you are mistaken Trump puppy 🐶

sree251 · 41-45, M

Yes, you read it right: $1 trillion a year interest on what the US Government owes. We need Trump to fire the US Government and set up a new order. Would that amount to insurrection?

LeopoldBloom · M

The money isn’t being flushed down the toilet. It’s paying for goods and services here in the US. The national debt is only a problem in Democratic administrations anyway.

PicturesOfABetterTomorrow · 41-45, M

@LeopoldBloom Not sure how you get that from weapons sales for endless wars.

sree251 · 41-45, M

@LeopoldBloom

The money isn’t being flushed down the toilet. It’s paying for goods and services here in the US. The national debt is only a problem in Democratic administrations anyway.

This is gobbledygook, Leopold. You can do better than this. Coming from an intellectual, Professor Jeffery Sacks would be shocked by your comment.

exchrist · 31-35

We the us needs to disengage and pay its bills. But there are so many ww2 reminiscent politicians itsvunlikely to change.

sree251 · 41-45, M

@exchrist

We the us needs to disengage and pay its bills. But there are so many ww2 reminiscent politicians itsvunlikely to change.

Paying our bills is the only reason for proper governance. Congress has been hijacked by irresponsible politicians. Case in point: what had Nancy Pelosi, a representative of her district in San Franscisco, got to do with the people of Taiwan where she went to push for their independence from China at great risk to all Americans?

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sunsporter1649 · 70-79, M

The demonocrats spend money like drunkin marxists

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sree251 · 41-45, M

@FrogManSometimesLooksBothWays

Didn't Trump raise the national debt by a huge amount?

Congress is the sole culprit creating the debt crisis. Politicians from both parties fight over the mad spending spree to destroy America. The President is powerless and is just a rubber stamp.

FrogManSometimesLooksBothWays · M

Under President Donald Trump, the national debt of the United States increased significantly. During his time in office, from January 2017 to January 2021, the national debt rose by nearly $7.8 trillion, from approximately $19.9 trillion to around $27.7 trillion. This increase was driven by several factors, including:

Tax Cuts and Jobs Act of 2017: This legislation significantly reduced corporate tax rates and included various tax cuts for individuals. While supporters argued it would spur economic growth, the reduction in revenue contributed to the rising national debt.

Increased Government Spending: Both defense and non-defense spending increased under the Trump administration, with bipartisan support in Congress. This included military spending hikes, along with spending on various domestic programs.

COVID-19 Pandemic Relief: In 2020, the U.S. government passed several large relief packages to mitigate the economic impact of the COVID-19 pandemic, including the CARES Act. These packages, while necessary to support the economy and public health, resulted in substantial additional borrowing and further increased the national debt.

Role of Congress and the President

While it is true that Congress holds the "power of the purse" and is responsible for passing budgets, tax laws, and spending bills, the President also plays a significant role in shaping fiscal policy:

Budget Proposals: The President submits an annual budget proposal to Congress, outlining spending priorities and revenue policies. This sets the tone for budget negotiations and reflects the administration's policy goals.

Approval and Veto Power: The President can sign or veto spending bills passed by Congress. While a veto can be overridden by a two-thirds majority in both the House and Senate, the President's approval or rejection of a bill can influence fiscal decisions.

Shared Responsibility for Debt

Bipartisan Responsibility: The increase in the national debt is a result of policies enacted by both parties over many years. Both Republicans and Democrats have supported deficit-increasing policies, such as tax cuts, military spending, and social programs, contributing to the debt.

Structural Issues: The national debt reflects broader structural issues, including entitlement spending (e.g., Social Security, Medicare), defense spending, and the gap between federal revenue and expenditures. Addressing these issues requires difficult political decisions that often face resistance from various interest groups.

Conclusion

While the President is not entirely "powerless" and is more than a "rubber stamp," Congress indeed plays a crucial role in creating and managing the nation's fiscal policy. The responsibility for the national debt and fiscal challenges lies with both branches of government, as well as with lawmakers from both parties.

sree251 · 41-45, M

@FrogManSometimesLooksBothWays

While the President is not entirely "powerless" and is more than a "rubber stamp," Congress indeed plays a crucial role in creating and managing the nation's fiscal policy. The responsibility for the national debt and fiscal challenges lies with both branches of government, as well as with lawmakers from both parties.

Thanks for the civic lesson. The bottom line is that the President has no power to run the country as he deems fit. He is like a man who has to sleep with a fat pig to produce a child. If you were that man and the fat pig knows you are stuck, what would you do?

AthrillatheHunt · 51-55, M

This is so very troubling. What’s worse is neither party cares .

FrogManSometimesLooksBothWays · M

The rising interest payments on the U.S. national debt, now exceeding $1 trillion annually, are a significant and unprecedented development in American fiscal history. This increase surpasses the costs of key government programs like Medicare and the national defense budget. Such high interest payments can have several implications for the U.S. economy:

Increased Debt Burden: As the national debt continues to grow, interest payments become a more substantial portion of the federal budget. This shift could crowd out other critical spending areas, including infrastructure, education, and social programs.

Inflation Concerns: High national debt levels and the associated interest payments can fuel inflationary pressures. As the government borrows more to cover its obligations, the supply of money in the economy increases, which can lead to higher prices if not managed carefully.

Impact on Foreign Policy and Military Spending: With significant resources allocated to debt servicing, the U.S. may face constraints in funding overseas military engagements or providing aid to foreign allies. The U.S. commitment to supporting Ukraine and addressing the situation in Gaza may come under scrutiny due to these financial pressures.

Potential for Higher Taxes or Reduced Services: To manage the rising interest payments, the government may need to consider raising taxes, cutting services, or finding new revenue sources. These options, however, are often politically challenging and may face resistance from various sectors.

Long-Term Economic Growth: Persistent high-interest payments could affect long-term economic growth by reducing public investment in productive sectors. If more government revenue is directed toward paying interest rather than investing in the economy, the growth potential could be stunted.

The situation underscores the importance of prudent fiscal management, especially during periods of significant global instability and domestic economic challenges. Balancing the need for defense spending, foreign aid, and managing domestic economic health will be a critical challenge for policymakers moving forward.

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