US government debt is on track to surpass $50 trillion by 2033. That means $5.2 billion is piling up every day.
US government debt is on track to surpass $50 trillion by 2033. That means $5.2 billion is piling up every day.
its amazing how debt is only ever brought up during democratic regimes... when the dems are in power its 'oh noes all the debt, whatever will we do! must cancel all social programs and increase military!"
but when conservatives are in charge, the debt does not exist , and its time for tax cuts for rich people, and expanding the military.
So there was this little program that I read about on Reddit the year before or the first year of COVID (in the USA) called the "Affordable Connectivity Program".
If you were poor enough or already qualified/signed up for some other government assistance programs, the program would reduce your internet bill by about 20~30 dollars a month. Last year, it seems like Congress decided not to extend funding to this program.
But 95 Billion bucks for Ukraine and Israel instantly passes, just to set the money on fire.
But 95 Billion bucks for Ukraine and Israel instantly passes
Instantly? The Ukraine part took over 6 months and forced at least one, and perhaps two, changes in leadership in the House of Representatives. It was about as contentious as it could possibly be and still get done.
The funding for Israel was a whole different story.
I guess fair point..
That shit slapped, my family had free internet, and my own was finally a manageable price. But now it's back up to over $70 a month
Also TikTok ban. Don't forget the TikTok ban
I have a friend who's mom passed away last year. He is still working through her taxes, but he had to deal with the IRS going back to a 2020 settlement his mom had with the IRS about her 401k for that year. Long story short, he had to pay $27 to settle up with them, which was interest that they forgot to calculate. At today's pay rates I think I can unequivocally say that someone at the IRS spent more than $27 worth of time to collect this on a 4 year old transaction with a now deceased person, but like you said, with no questions asked or accountability required we just toss billions of dollars over to another country. Yet we are literally harassing our own populace for their dead relatives $27...
Oh no, the United States may one day have to repay a debt measured in United States dollars, whatever shall we do
print more money and devalue the currency obviously
I'm generally on the "money isn't real and debt is just one of a myriad of excuses that dems use to not do something," but even in marxist economics, "national debt" isn't able to increase forever without collapsing the monetary system. I don't know the full effects of that occurring, but I'm sure that the people benefiting from it right now, will be the least affected by the monetary system collapsing.
Oh, don't you worry about that. The Fed can print infinite amounts of cash.
The national debt has always been an imaginary bugbear. When compared against rates of inflation and the increasing gross tax revenue--it's been a while since I've run these numbers--the national debt amounts to something similar to a car loan. It would take about five years to pay off and that chunk of it does get paid off. In those intervening five years, the nation acquires another "car-loan" of debt proportional to the rate of inflation and the rate of increasing tax revenue.
This analysis isn't considering the trustworthiness of the United States' credit. That's another conversation.
I don't understand
so this is Reagan's fault?