Jump to content
Check your account email address ×

Well then, that's dropping the hammer...


Recommended Posts

  • Platinum Contributing Member
1 hour ago, Snake said:

I'll just add cowardly prick to that list. :lol:

Add whatever you want to your list Little MoeMoe.....I'm comfortable in my decisions and the way I live my life and not really concerned with what some skeevy creep thinks of me. 

Edited by Jimmy Snacks
Link to comment
Share on other sites

10 hours ago, Zambroski said:

Shaking my fucking head.

 

9 hours ago, AKIQPilot said:

Self awareness is not one of Vinces strong suits. 

The kids and grandkids get to carry this rock.

 

Quote

 

US National Debt Passed $23 Trillion, Jumped $1.3 Trillion in 12 Months

by Wolf Richter • Nov 2, 2019 • 144 Comments

And these are the good times. What happens in a recession?

The US gross national debt – the sum of all Treasury securities outstanding – passed another illustrious milestone, $23.01 trillion, the US Treasury department disclosed on Friday. And it got there at lightning speed just eight months after having passed the illustrious milestone of $22 trillion on February 11. Over the past 12 months, the US national debt has jumped by $1.33 trillion – and these are the good times, and not a financial crisis when everything goes to heck:

US-Gross-National-Debt-2011-2019-11-02.png

 

The cute flat spots in the charts are periods when the US government bumped into the “debt ceiling.” The US is unique among countries in that Congress first tells the government how much to spend, what to spend it on, and in whose Congressional district to spend it in, and then on the appointed day, Congress tells the government that it cannot borrow the money that it needs in order to spend the money that Congress told it to spend. The charade, carried out regularly for political purposes to arm-twist one or the other side, leaves these flat spots behind as permanent testimony to this idiocy.

Over the 12 months through the third quarter, the US gross national debt rose by 5.6% from the same period a year earlier. But nominal GDP over the same period rose only 3.7%: meaning the growth of the debt is outrunning the growth even in what President Trump called two days ago, the “Greatest Economy in American History!”

If the growth of the federal debt outruns the economy during these fabulously good times, what will the debt do when the recession hits? When government tax receipts plunge and government expenditures for unemployment and the like soar? The federal debt will jump by $2.5 trillion or more in a 12-month period. That’s what it will do.

The growth in the US debt (the growth of Treasury securities outstanding) is the most accurate measure of the true deficit – the actual cash difference between how much cash the government takes in and how much cash the government spends. The government has to borrow the difference between the two – and that’s what the increase in the debt measures.

This increase in the debt shows the negative cash flow of the government. And it’s almost always significantly larger than the “budget deficit,” which is based on government accounting.

For example, in the fiscal year 2019, ended September 30, the “budget deficit” was $984 billion, according to the Treasury Department. This is a huge number, considering that these are the good times. But the government had to borrow an additional $1.2 trillion over the same period. In other words, the actual cash deficit, as represented by the increase in the debt, was $219 billion higher than the government accounting of the deficit.

And this is the case year after year. The chart below shows the increase in the debt for each fiscal year (blue column) and the “deficit” as per government accounting, going back to 2002. Over these 18 years, there were only two years when the deficit was either the same or larger than the increase in the debt. For the remaining 16 years, the increase in the debt was far larger than the deficit. In total, over those 18 years, all added together, the increase in debt has exceeded the “budget deficit” by $5 trillion:

https://wolfstreet.com/2019/11/02/us-national-debt-passed-23-trillion-jumped-1-3-trillion-in-12-months/

 

 

  • Like 1
Link to comment
Share on other sites

2 hours ago, Mileage Psycho said:

 

The kids and grandkids get to carry this rock.

 

 

More false outrage noted.  Yeah, we get it Vinney.

Simmer down then, just maybe, try to push your bitter, ass hurt, worthless, child-like sore-losing party to come up with an alternative plan and a candidate or two that isn’t absolutely ridiculous.

Or, keep throwing temper tantrums about “Orange man bad”.  It’s fascinating how this path is seemingly keeping you all together.  I couldn’t imagine wanting to still wear those gang colors.

Link to comment
Share on other sites

10 hours ago, Mileage Psycho said:

 

The kids and grandkids get to carry this rock.

 

 

None of this matters now, debt, deficit, golfing, and security costs became irrelevant once Trump was sworn in.  Guess you never got the memo.

Edited by 1jkw
Link to comment
Share on other sites

44 minutes ago, 1jkw said:

None of this matters now, debt, deficit, golfing, and security costs became irrelevant once Trump was sworn in.  Guess you never got the memo.

Of course it does.  No ones approving of the spending.  What are the Democrats doing about it?  Answer:  zero. 

  • Thanks 1
Link to comment
Share on other sites

  • Platinum Contributing Member
14 minutes ago, DriftBusta said:

Of course it does.  No ones approving of the spending.  What are the Democrats doing about it?  Answer:  zero. 

Yet you haven't uttered one negative word about Trump and his spending....but,but,but....what are democrats doing about it? 

Link to comment
Share on other sites

27 minutes ago, DriftBusta said:

Of course it does.  No ones approving of the spending.  What are the Democrats doing about it?  Answer:  zero. 

And nobody is bitching like before. The spending and deficit increased when the Republicans controlled the house and the senate too. The Dems. would tax and spend no doubt but the Rep. just borrow and spend. 

Where are the tea party protestors now? Why don't the Republicans refuse to go along with the spending and let the credit rating fall now?

Link to comment
Share on other sites

35 minutes ago, DriftBusta said:

Of course it does.  No ones approving of the spending.  What are the Democrats doing about it?  Answer:  zero. 

Proposing plans that will increase the debt by rates never seen

Solutions you can count on 

The entire world is in debt, oh well 

Edited by washedupmxer
Link to comment
Share on other sites

36 minutes ago, Jimmy Snacks said:

Yet you haven't uttered one negative word about Trump and his spending....but,but,but....what are democrats doing about it? 

And thats my job?  You and a few others do enough bitching, my help is not needed.  I’ve made my points several times acknowledging that spending needs to be addressed, not that you’d acknowledge it.  Trumps good outweighs his bad, not that a turnip like you would ever understand.

  • Thanks 1
Link to comment
Share on other sites

20 minutes ago, DriftBusta said:

And thats my job?  You and a few others do enough bitching, my help is not needed.  I’ve made my points several times acknowledging that spending needs to be addressed, not that you’d acknowledge it.  Trumps good outweighs his bad, not that a turnip like you would ever understand.

No you gave up on bitching about everything as soon as Trump was sworn in, before that you bitched like it was your job though.

Many of the exact same things you and others cried constantly about, you are now silent about.

Link to comment
Share on other sites

  • Platinum Contributing Member
25 minutes ago, f7ben said:

Lowest iq voter here and probably the biggest hack too. Wear it proud pancake tits

Yet he parades around thinking he is some sort of intellectual elder statesman...it's amazing. 

Link to comment
Share on other sites

51 minutes ago, Jimmy Snacks said:

Same as everyone else here that does it....weird but now you are parroting Woolie. 

Everyone else? 

Most people who labor for a living don't.....those that do post maybe a few times a day. 

 

1 hour ago, f7ben said:

Lowest iq voter here and probably the biggest hack too. Wear it proud pancake tits

Look at ol noodle arms wanting to talk tits :lol:

  • Haha 1
Link to comment
Share on other sites

 

1 hour ago, 1jkw said:

No you gave up on bitching about everything as soon as Trump was sworn in, before that you bitched like it was your job though.

Many of the exact same things you and others cried constantly about, you are now silent about.

Repeat it slowly about both Obama and Trump.  Trumps good outweighs his bad.  Evidence: Economy, Border, Trade, Confronting and exposing Washington corruption, Environmental treaties.  Obamas bad outweighed his good.  Evidence:. Luke warm economy, racial division, law enforcement demonization, weaponizing federal agencies, weak foreign policy.

1 hour ago, f7ben said:

Lowest iq voter here and probably the biggest hack too. Wear it proud pancake tits

:lol:. Never claimed to be Moto level self proclaimed mensa, but compared to a couple of you clowns, I’’m pretty confident I got several of you beat by at least 30 IQ points.

3 minutes ago, Angry ginger said:

_82875527_prison_centipede_wide624.jpg

Is that you, one guy to the right?

  • Haha 1
Link to comment
Share on other sites

1 minute ago, DriftBusta said:

 

Repeat it slowly about both Obama and Trump.  Trumps good outweighs his bad.  Evidence: Economy, Border, Trade, Confronting and exposing Washington corruption, Environmental treaties.  Obamas bad outweighed his good.  Evidence:. Luke warm economy, racial division, law enforcement demonization, weaponizing federal agencies, weak foreign policy.

:lol:. Never claimed to be Moto level self proclaimed mensa, but compared to a couple of you clowns, I’’m pretty confident I got several of you beat by at least 30 IQ points.

Is that you, one guy to the right?

Obama inherited a mess, and had a Republican house that shut down the government over spending, Trump spends more no shut down.  The border, you mean the wall that Mexico is paying for?  Trump has a better economy, tax cuts and big increases in deficit and debt. Still hasn't hit 3% GDP for a year only tied 2015. 

Trump also has had larger trade deficits, record number of out of workforce numbers, lowest black homeownership, trillion dollar deficits and adds more than a trillion to the debt every year.

Obama said if he had a son he would look like TV, yeah very divisive stuff.  Trump Mexicans are rapist and murderers and I guess some are good people too, not at all divisive, crimes against Jews up over 50%, white nationalists growing at record numbers. 

Backs out of Nuke agreement that allies support, sucks the SA cock at every turn, gets cunt punted out of Turkey, great stuff.

Link to comment
Share on other sites

  • Platinum Contributing Member
26 minutes ago, washedupmxer said:

Everyone else? 

Most people who labor for a living don't.....those that do post maybe a few times a day. 

 

Look at ol noodle arms wanting to talk tits :lol:

That's there problem...I'm at the shop working all day...maybe you and 3X worry about yourselves. 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    • No registered users viewing this page.
  • Trying to pay the bills, lol

×
×
  • Create New...