Your Share of the National Debt is ... $105,000

The National Debt for 2024 will be $1.8 TRILLION... Does it concern you?

  • 10.5k
    larubia
    Voted Maybe
    10/10/2024

     The United States has had a fluctuating national debt since its inception in 1789:  
     
     American Revolution: The U.S. incurred over $75 million in debt during the American Revolution.  
     
     
    Civil War: The debt increased over 4,000% during the Civil War, growing from $65 million in 1860 to almost $3 billion in 1865.  
     
      
     
    World War I: The U.S. debt increased to roughly $22 billion after World War I.  
     
     

     
    World War II: The debt increased from $51 billion in 1940 to $260 billion after the war.  
     
     
     
    1980s: The debt more than tripled between 1980 and 1990 due to tax cuts and increased military spending under President Ronald Reagan.  
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Great Recession: The debt-to-GDP ratio increased from 64% in 2008 to 100% by 2012.  
     
     
     
     
     
     
     
    COVID-19 pandemic: The debt-to-GDP ratio increased from 106% in late 2019 to 133% by the second quarter of 2020.  
     
     
     
     
     
     
     
    Other notable events that have caused large spikes in the debt include: The Afghanistan and Iraq Wars and The economic depression after 1835.  
     
     
     
      
    The debt is often expressed as a ratio to GDP to allow for comparisons over the years. The debt has consistently increased as a percentage of GDP since the 1970s, with exceptions during the presidencies of JIMMY CARTER AND BILL CLINTON

     

    The National Debt under TRUMP grew by $7.8 trillion, more than at any other time, and "the growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration."

     

    This is posted for the whiny-ass Republicans who only seem to care about debt when they want to use it as leverage in Congress, or talking points about destroying Social Security & Medicare. While this is a two party problem, one party has worked diligently to drive up the deficit, while the other, under Carter & Clinton made inroads to getting us back to black. 

    One move not mentioned, quit giving tax breaks to the wealthy!!!  

    "Tax cuts initially enacted during Republican trifectas in the past 25 years slashed taxes disproportionately for the wealthy and profitable corporations, severely reducing federal revenues."

     

    https://www.Tax cuts initially enacted during Republican trifectas in the past 25 years slashed taxes disproportionately for the wealthy and profitable corporations, severely reducing federal revenues..org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/

    https://www.propublica.org/article/national-debt-trump

  • 56.6k
    Brian
    Voted No
    10/10/2024

    I don't love that we have such a high debt, but I have no control over it and if Congress doesn't care enough to clean up their act, then why should I?

     

    Donald blew up the debt higher than almost any other president in history, and the Republican Congress did nothing about it. In fact, they seem happy to let him come back and make it even bigger.

    Sure, there are many factors that contribute to the debt, but unless we're willing to give up Social Security and Medicare and slash our military heavily, we're going to need a lot more income to balance our budget.

    It's time to tax the ultra-wealthy and corporations. They need to do their part.

  • 4,813
    Surender
    Voted Yes
    10/11/2024

    National debt absolutely concerning! 
    one cant simply wish it away

    something somewhere will have to give sooner than later 

    you can only kick the can down the road so much 

  • 53
    Musa
    10/28/2024

    I get paid over $40 per hour working from home with 2 kids at home. I never thought I'd be able to do it but my best friend earns over 10k a month doing this and she convinced me to try. The potential with this is endless. Heres what I've been doing..
    check  https://paybuzz108.pages.dev

  • 106.5k
    LeslieG
    Voted Maybe
    10/11/2024

    Trump's legacy will be the $8T added to the national debt in his 1st adminustration (and the $6T he is proposing for a 2nd administration), the 3rd largest increase in history, most of which occurred before Covid, despite his campaign promises of paying off the $19T in national debt in 8 years when he took office in 2016. Only Lincoln and Bush added more but both had wars to pay for.

    Despite a booming economy and low unemployment Trump racked up massive debt with a tax cut to business and the 1% alledgedly to be paid by renegotiated trade deals, tariffs, and increased GDP which never materialized (never does with tricked down economics).

    Trump's 2024 campaign is a sequel to his 1st, promising more tax cuts for businesses and more tariffs estimated to add another $6T to the national debt but no clear play of how to pay for it all.

    Trump, who has referred to himself as the "King of Debt" has also taken 13 companies into bankruptcy! A 2nd Trump Presidency may end the same for the U.S.

    "The national debt has risen by almost $7.8 trillion during Trump’s time in office... the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by a leading Washington budget maven, Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center. And unlike George W. Bush and Abraham Lincoln, who oversaw the larger relative increases in deficits, Trump did not launch two foreign conflicts or have to pay for a civil war."

    "That happened even though the economy was booming and unemployment was at historically low levels. By the Trump administration’s own description, the pre-pandemic national debt level was already a “crisis” and a “grave threat.”

    "Falling deeper into the red is the opposite of what Trump, the self-styled “King of Debt,” said would happen if he became president. In a March 31, 2016, interview with Bob Woodward and Robert Costa of The Washington Post, Trump said he could pay down the national debt, then about $19 trillion, “over a period of eight years” by renegotiating trade deals and spurring economic growth."

    " When Trump took office in January 2017, the nonpartisan Congressional Budget Office was projecting that federal budget deficits would be 2% to 3% of our gross domestic product during Trump’s term. Instead, the deficit reached nearly 4% of gross domestic product in 2018 and 4.6% in 2019."

    " Trump’s tax cuts, especially the sharp reduction in the corporate tax rate to 21% from 35%, took a big bite out of federal revenue. The CBO estimated in 2018 that the tax cut would increase deficits by about $1.9 trillion over 11 years."

    " Trump had the third-biggest primary deficit growth, 5.2% of GDP, behind only George W. Bush (11.7%) and Abraham Lincoln (9.4%). Bush, of course, not only passed a big tax cut, as Trump has, but also launched two wars, which greatly inflated the defense budget. Lincoln had to pay for the Civil War. By contrast, Trump’s wars have been almost entirely of the political variety."

    " I’m the king of debt. I’m great with debt. Nobody knows debt better than me." (June 2016.)"

    "I’m the king of debt. I’m great with debt. Nobody knows debt better than me,” Trump told Norah O’Donnell in an interview that aired on “CBS This Morning.” “I’ve made a fortune by using debt, and if things don’t work out I renegotiate the debt. I mean, that’s a smart thing, not a stupid thing.”

    " [Trul] bankrupted so many of his own businesses (Trump Steaks, GoTrump, Trump Airlines, Trump Vodka, Trump Mortgage, Trump the Game, Trump Magazine, Trump University, Trump Ice, The New Jersey Generals, Tour de Trump, Trump Network, Trumped!)"

    https://labor411.org/411-blog/here-are-all-of-trump-s-bankruptcies-and-failed-businesses/

    https://www.axios.com/2019/01/05/everything-trump-says-he-knows-more-about-than-anybody

    https://www.propublica.org/article/national-debt-trump

  • 4,813
    Surender
    Voted Yes
    10/16/2024

    Three US billionaires donated roughly $220 million to help elect Trump this summer

    one big reason why we have deficits - these criminals dont pay their fair share of taxes! 

  • 1,204
    Warren
    Voted No
    last Monday

    Wait till Trump is done ruining our great country.  Only 2 republicans stood up against what Trump did. Every politician would have done the same thing Biden did and they know it if they could. Trump will have to do the same for his crooked son in law.

  • 503
    Carol
    Voted Maybe
    last Thursday

    How about cutting pensions for law makers rather than social security. 

  • 11.2k
    DaveS
    Voted Maybe
    last Wednesday

    Richest man declares war on retirees, of course he and others don't pay his fair share of taxes. Aaaah trickle down economics?

  • 1,723
    anihundt
    Voted Yes
    11/28/2024

    They do not want to pay taxes but paying for deregulation or a cabinet or some type of position is better? First sign of corrupt government: https://open.substack.com/pub/robertreich/p/the-big-shakedown?r=11ruex&utm_campaign=post&utm_medium=email 

     

  • 11.2k
    DaveS
    Voted Maybe
    11/27/2024

    It will never happen!

  • 1,723
    anihundt
    Voted Yes
    11/24/2024

    Reason number 50 why finance needs to be a curriculum in elementary through high school.

    If you want to get smarter about money follow: Budgetisa or Rich BFF. There are so many but these two came to my mind first.

    This clip about taxes in Louisiana is the reason for the comment.

    https://youtu.be/oTkEJzvra6k?si=G0T4QdjmhtjJM5aB

     

  • 11.2k
    DaveS
    Voted Maybe
    11/23/2024

    Putin started the war, he can end it by leaving Ukraine!

  • 11.2k
    DaveS
    Voted Maybe
    11/23/2024

    JD Vance is being pushed out by Elon Musk. Vance need to stay away from windows!

  • 11.2k
    DaveS
    Voted Maybe
    11/23/2024

    Russian will start World War III if they don't get their way or not!

  • 11.2k
    DaveS
    Voted Maybe
    11/23/2024

    So much for a two state solution? And the Palestine and Israel have voted!

  • 11.2k
    DaveS
    Voted Maybe
    11/23/2024

    Joe Rogan would fit right in 1939 don't get involved and shack in their boots and hope it won't happen to them! They boomed Pearl Harbor which force us into the war II. At least we have your eyes open!

  • 11.2k
    DaveS
    Voted Maybe
    11/23/2024

    There is never too much crime for Trump administration appointments!

  • 11.2k
    DaveS
    Voted Maybe
    11/22/2024

    How low can republicans go?

  • 531
    Christopher
    Voted Yes
    11/21/2024

    It's the Republicans turn to do something other than talk about this problem. They control both chambers so let's see what they come up with this time around. 

  • 2
    crispi27
    Voted Yes
    11/18/2024

    I can't afford to pay the national debt, whether through direct taxation, inflation, or any other means.

     

    The amount of debt using the federal reserve's data is  $3,644,991 per older dependent per working age person in the United States. Meaning, I, a working age private sector employee, will have to pay over $3 million dollars to support the government's debt towards one retiree which keeps increasing!

     

    We can't afford to pay this and support retiree's with social security and Medicare.

     

    Make the cuts

     

    Stop the overspending!

     

    Support trump and cut the size of government.

     

     

    Government debt

    https://fred.stlouisfed.org/series/USGOVT#0

     

    Population

    https://fred.stlouisfed.org/series/CNP16OV

     

    Older dependent to working age adult:

    https://fred.stlouisfed.org/series/SPPOPDPNDOLUSA#0

     

  • 1,723
    anihundt
    Voted Yes
    11/19/2024

    http://youtube.com/post/UgkxEVDvcO2u0SqjNQKDXX9h0ihcGnoxgUn8?si=So4pH26Ks0RxUm8v

     

  • 1,723
    anihundt
    Voted Yes
    11/18/2024

    https://open.substack.com/pub/robertreich/p/the-billionaire-takeover-and-the?r=11ruex&utm_campaign=post&utm_medium=email

     

  • 11.2k
    DaveS
    Voted Maybe
    11/17/2024

    The deportations plan doesn't care whether you are here, legally or not. It's call the great replacement theory of white people by black and brown and yellow people. White Americans only!

  • 11.2k
    DaveS
    Voted Maybe
    11/17/2024

    National debt will increase, so will toilet paper?

  • 11.2k
    DaveS
    Voted Maybe
    11/16/2024

    This is the land of Christian, history show Christian love to hate, crusade and wars!