We now owe 21 trillion dollars and to put that in perspective, it is equivalent to paying $28,747,433.26 on a 21 trillion dollar debt every day for 2,000 years without paying any interest. If the 21 trillion had an annual interest rate of 5%, the payment would over $57,000,000.00 per day. These payments factor in the extra day on a leap year.
In training to be an obedient master to my two labs
The solution is to stop spending money when political donors or "votes" demand it. The reason federal politics is so toxic is because getting a knife into the pig is so easy and so lucrative, there's so much meat to carve off. Keep in mind the "debt" is only chump change in comparison to unsupported future obligations, that's over a hundred trillion. We won't be the first to go, but the Greeks kind of hint at what the future holds. The entire world is on the way to a Weimar fiscal collapse.
Up hills slow, Down hills fast Tonnage first and Safety last.
It will not end pretty. Both parties are toxic and cannot resist the urge to spend money or give away freebies in exchange for votes... the USA has about 20 more years before collapse
"If there are no dogs in Heaven, then when I die, I want to go where they went" Will Rogers
Tell the foreign owned banking cartel to take a hike.
Close. We call in the debt that the rest of the world owes us for bailing their asses out of WWII. Wipe the slate clean with Europe, China, Japan, etc.
Or, better yet. Just default on our debt. What are the other countries going to do about it. Will China stop selling us anything? Hell no. If they did their entire economy would go into to the toilet overnight. Same with Europe, Japan, and Russia.
The simple math is every man, women, and child in the US owes about $70K each to pay off that debt. Heck, economists have been saying for 30-40 years Social Security is insolvent and gonna tip over and essentially is a Ponzi scheme.
As a nation, we could declare bankruptcy I suppose and tell the world we aren't/can't pay what we owe.
So the value of the money will devalue. Which the entire world economy bases its financial transactions on the dollar and its value.
Wars have started over lesser situations.
Things are going to get sporty. Who knows when, but it might be in the not to distant future.
I am no economist. Ain't even exceptionally smart. But I don't see this situation ending well. For the US or the world for that matter.
"Successful is leaving something in better shape than you inherited it in. Keep that in mind, son." Dad
We now owe 21 trillion dollars and to put that in perspective, it is equivalent to paying $28,747,433.26 on a 21 trillion dollar debt every day for 2,000 years without paying any interest. If the 21 trillion had an annual interest rate of 5%, the payment would over $57,000,000.00 per day. These payments factor in the extra day on a leap year.
You never really have but two choices when it comes to debt...make more or spend less. President Trump is obviously in the "make more" camp. I salute him on that.
The only thing worse than a liberal is a liberal that thinks they're a conservative.
