Economy The US National debt is 28 Trillion, the value of US stock market is 43 Trillion=never gonna pay

[mkess101]

Maybe because it's only been Japan for a little over a year, and they barely pull ahead of China.
"China" is actually the answer you'd expect from someone who pays marginal attention. "Japan" is the answer you'd expect from someone who only looks things up to win internet arguments.

This is hardly a pat-yourself-on-the-back piece of trivia you guys are celebrating.

Actually the point is more that people would say China by a massive margin. In fact, they'd likely say China even without using the word foreign. Most would have no idea that the biggest holder of our debt is...us.

 

[PrinceOfPain]

Most would have no idea that the biggest holder of our debt is...us.

And that is the worthwhile point to make.
The Japan point is just meaningless trivia.

 

[mkess101]

And that is the worthwhile point to make.
The Japan point is just meaningless trivia.

Not really imo. It's for perspective. Because people seriously think China holds this staggering amount of our debt. Even if Japan didn't hold more like they do now but were just CLOSE, most people would be stunned.

 

[badascan]

You sell the debt with a promise of payment then say I'm not paying you? So the bigger an inconceivable amount of debt is essentially the deeper ones hand can reach into the cookie jar... Or take control of the money printers/system and continue to inflate and devalue the currency till you develop the escape plan?

 

[Halifax]

You can thank several others besides Obama, nearly all of them in the modern era. Reagan and George W Bush say hi.

The debt leader, FDR, has an excuse....Great Depression, WW2, 4 terms.

It doesn’t need to be “fixed”....it needs to be handled like it was handled under Clinton.
He was such a good president that Republicans had to come after him for getting pussy.

I liked Clinton a lot.
Oh god yes. His stance on illegal immigrants? The Anti crime bill he and Biden worked in the mid 90's to fund 100000 more policing jobs, build more prisons and come down with harsh penalties on real lowlife offenders? His welfare reform act which turned into the personal responsibility and work opportunity act?

Can you imagine if Clinton were a new person on the political field and gave this speech today? He would be roasted over coals by a lot of angry people and called the new Trump.

 

[ocfightfan]

From what I understand Social Security and Medicare have over 100 trillion in unfunded liabilities, and that isn't even being counted against the current national debt.

 

[Day Drinking]

The interest payments on the debt are like two thirds of the military budget these days. That is a huge figure. Social security is also the biggest spending done by government. I think at this point about half of the US spending is spent on debt.

Also, with US bonds so low why would anyone purchase them?

Debt is about 1/8 of our spending. It is close to half the military.

Its alot, dont get me wrong on that. It is still a manageable number though.

https://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm

https://www.thebalance.com/u-s-fede...020 deficit will,estimated to be $378 billion.

 

[djacobox372]

So we have to sell the west coast and our children? What does our net worth mean? We can get more credit to go further in debt?

end the FED, put congress back in its constitutional role of the printers of money.

How did the FED even get that power? It’s right there in the constitution

Net worth = value of all capital assets minus debts

Yes that includes land, not children.

And no, we would not sell the west coast as that's where most of our income is generated... better off selling the south (minus texas).

To put thing in perspective, the US debt situation is similar to an individual who's who makes 300k a year having a 350k mortgage on a house worth 4 million dollars. With 80% of his mortgage being owned by himself.

 

[Proud American]

Net worth = value of all capital assets minus debts

Yes that includes land, not children.

And no, we would not sell the west coast as that's where most of our income is generated... better off selling the south (minus texas).

Just their services, sans agriculture, which actually matters on location. And tourism, which matters on location.

sell Hollywood, big tech, music industry and television and that’s most of California’s economy.

 

[Day Drinking]

You sell the debt with a promise of payment then say I'm not paying you? So the bigger an inconceivable amount of debt is essentially the deeper ones hand can reach into the cookie jar... Or take control of the money printers/system and continue to inflate and devalue the currency till you develop the escape plan?

They will pay back any specific debt, they will just take out new debts to do it.

And yes, inflation is why the government can just do it forever.

 

[Last Samurai]

From what I understand Social Security and Medicare have over 100 trillion in unfunded liabilities, and that isn't even being counted against the current national debt.

These kinds of numbers are completely meaningless without a timeframe.

But over the next 75 years - yes, something like that.

 

[ineverpost]

Gamestonk and AMC going to pay off the debt and save the world.

 

[HeffDoesWant]

We're still the richest, most powerful country on the planet. Nobody realistically thinks the US is going to fall any time soon. Our debt is worth more than most country's entire GDPs.

I think we're good.

Was this a joke????

Us debt is more than every countries GDP, including America.

 

[Alipiama]

The debts of countries are so big. I can't imagine that they can pay such immense sums of money. I remember when I had an enormous debt to the bank. I have borrowed a lot of money to be able to keep my house. That was my least favorite period in my life. At least it taught me a lot of essential things. Most of all, how to get out of debt. It isn't so easy, and it needs a lot of discipline. The most important is hard work and saving money on everything it is possible. Everything you buy needs to be essential.

 

[ShadBo]

Funny but true.

Which of the banned posters on the first page are you?

 

[Topguntrophey]

No you raise the ceiling, no you raise it, no you raise it...meanwhile Americans are like "so, where that infrastructure at?"

 

[Fugazy]

If you did a poll and asked people with even a marginal understanding of global economics who the largest foreign holder of US debt was, what % do you think would answer "China" without even a one second pause?

81.3%

 

[MichiganMMA1978]

81.3%

The correct answer is
Tree fiddy

 

[SammyPops]

We need to put fiscal conservatives back in the white house

Spoiler

Not sure if serious.