AuthorTopic: Debt Ceiling Political Crisis  (Read 20481 times)

Offline azozeo

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Global Debt surpasses $244,000,000,000,000.00
« Reply #75 on: January 19, 2019, 02:01:47 PM »
Global Debt Surpasses 244 Trillion Dollars As “Nearly Half The World Lives On Less Than $5.50 A Day”
January 15, 2019
by Michael Snyder

The borrower is the servant of the lender, and one of the primary ways that the elite keep the rest of us subjugated is through the $244,000,000,000,000 mountain of global debt that has been accumulated.  Every single day, the benefits of our labor are going to enrich somebody else.  A portion of the taxes that are deducted from your paycheck is used to pay interest on government debt.  A portion of the profits that your company makes probably goes to servicing some form of business debt.  And most Americans are continuously making payments on their mortgages, their auto loans, their credit card balances and their student loan debts.  But most people never stop to think about who is becoming exceedingly wealthy on the other end of these transactions.  Needless to say, it isn’t the 46 percent of the global population that is living on less than $5.50 a day.


https://www.investmentwatchblog.com/global-debt-surpasses-244-trillion-dollars-as-nearly-half-the-world-lives-on-less-than-5-50-a-day/
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

Offline azozeo

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IT'S OFFICIAL ! U.S. Debt Surpasses $23,000,000,000,000.00
« Reply #76 on: November 04, 2019, 10:52:22 AM »

The federal government’s outstanding public debt has surpassed $23 trillion for the first time in history, according to data from the Treasury Department released on Friday.

Growing budget deficits have added to the nation’s debt at a speedy rate since President Trump took office. The debt has grown some 16 percent since Trump’s inauguration, when it stood at $19.9 trillion. It passed $22 trillion for the first time just 10 months ago.

Of the $23 trillion figure, just under $17 trillion was in the category of debt held by the public, which is a more useful gauge of the debt the government has to pay down, and the number typically used in calculating the nation’s debt burden. The other $6 trillion comes from loans within government bodies.

Still, the $23 trillion figure marks a milestone.

“Reaching $23 trillion in debt on Halloween is a scary milestone for our economy and the next generation, but Washington shows no fear,” said Michael A. Peterson, CEO of the fiscally conservative Peter G. Peterson Foundation.

“Piling on debt like this is especially unwise and unnecessary in a strong economy,” he added.

High levels of debt can push up borrowing costs and interest rates, “crowd out” private borrowing and weigh down budgets. In the 2019 fiscal year, for example, the government had to devote $376 billion just to pay the interest on the debt, equivalent to nearly half the defense budget, and more than the amount spent on the combined costs of education, agriculture, transportation and housing.

The deficit for 2019 came in just under $1 trillion, at $984 billion, and is only expected to grow in coming years.

While the main drivers of spending are mandatory programs such as Social Security, Medicare and anti-poverty programs, major legislation has grown the deficit considerably since Trump came to office.

The 2017 GOP tax law was estimated to cost $1.9 trillion over a decade, while bipartisan deals to boost defense and domestic spending ramped up outlays each year.



https://thehill.com/policy/finance/468600-us-debt-surpasses-23-trillion-for-first-time
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

 

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