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malaise

(269,157 posts)
Wed Feb 13, 2019, 02:35 PM Feb 2019

National debt tops $22 trillion for the first time as experts warn of ripple effects

https://www.usatoday.com/story/news/politics/2019/02/12/national-debt-tops-22-trillion-first-time-ever/2849978002/
<snip>

The national debt surpassed $22 trillion for the first time on Tuesday, a milestone that experts warned is further proof the country is on an unsustainable financial path that could jeopardize the economic security of every American.

The Treasury Department reported the debt hit $22.012 trillion, a jump of more than $30 billion in just this month.

The national debt has been rising at a faster rate following the passage of President Donald Trump’s $1.5 trillion tax-cut package a little more than a year ago and as the result of congressional efforts to increase spending on domestic and military programs. The nation has added more than $1 trillion in debt in the last 11 months alone.

“Reaching this unfortunate milestone so rapidly is the latest sign that our fiscal situation is not only unsustainable but accelerating,” said Michael A. Peterson, chief executive officer of the Peter G. Peterson Foundation, a nonpartisan organization working to address the country’s long-term fiscal challenges.
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The Con has had bigly success at running up debt - that's his only area of success for his ntire life He is in the process of destroying the US economy with help from ReTHUGs
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National debt tops $22 trillion for the first time as experts warn of ripple effects (Original Post) malaise Feb 2019 OP
Fugging republicans have done this to America Achilleaze Feb 2019 #1
Cue gop calls for "entitlement reform" Va Lefty Feb 2019 #2
Tea Baggers and Deficit Hawks all develop lockjaw gratuitous Feb 2019 #3
Indeed malaise Feb 2019 #4
Thanks for the truthful post. Wellstone ruled Feb 2019 #5
But but but malaise Feb 2019 #6
Ah,the Media and their owners Wellstone ruled Feb 2019 #9
Their owners are corporations malaise Feb 2019 #10
Here is the big Scam that is being run here in Wellstone ruled Feb 2019 #11
To quote Darth Cheney... roamer65 Feb 2019 #7
Beware the "experts" cited in these articles. Reporters did well in pointing to real causes like suffragette Feb 2019 #8
Rather an increased jerk. Igel Feb 2019 #12
Is America great again yet? lpbk2713 Feb 2019 #13

Achilleaze

(15,543 posts)
1. Fugging republicans have done this to America
Wed Feb 13, 2019, 02:40 PM
Feb 2019

Why do republicans lie and claim to be 'conservatives' when they are really radical rip-off skuzzbags.

gratuitous

(82,849 posts)
3. Tea Baggers and Deficit Hawks all develop lockjaw
Wed Feb 13, 2019, 02:45 PM
Feb 2019

Their water carriers in the media have simultaneously lost the phone numbers of their reliable yammerers. Watch this news vanish from the news cycle without leaving a trace.

malaise

(269,157 posts)
4. Indeed
Wed Feb 13, 2019, 03:10 PM
Feb 2019

The silence is deafening. Now to steal some more from those who have the least.
nd remember any attempt to tax the wealthy is socialism.

 

Wellstone ruled

(34,661 posts)
5. Thanks for the truthful post.
Wed Feb 13, 2019, 03:20 PM
Feb 2019

I and a few others here were warning of this happening more than a year ago.

Simple Mathematics proved our point. But,everyone loves his or her Tax Breaks without bothering to read the friggen details.

 

Wellstone ruled

(34,661 posts)
9. Ah,the Media and their owners
Wed Feb 13, 2019, 03:33 PM
Feb 2019

spun this as the best thing since sliced white bread. But,hey,until bad legislation creates bad outcomes,nothing changes . Well,we are seeing the bad outcomes and if our Dems do not use these outcomes to their Political Advantage,we deserve what that out come brings.

Interesting little tid bit,notice how Retail America is not using the Tax Refund Scam to sell their garbage this year.

Eight years of working part time DIY store,my mid January Store Signage Project was to hang all use your Tax Refunds to buy this Appliance or that Power Drill or replace those Windows and Doors as well as those new Floors in Store Advertising PR things. Happened to be in the Firms Store yesterday and asked the Store Manager about where is his Tax Refund Promo stuff was,answer was guess we aren't doing it this year.

 

Wellstone ruled

(34,661 posts)
11. Here is the big Scam that is being run here in
Wed Feb 13, 2019, 04:31 PM
Feb 2019

the Desert South west. Solar Panels for your home,okay I am all for free Solar Panels on every friggin house in the Southwest Deserts Communities. Here is how this Scam works,you pledge your Tax Refund as a payment in kind for those so called Free So.lar Panels. It is in fact a payment on the Loan that underwrites the price of those Panels.

Guess what,no refund,well whooby,you have to cut a check to keep those so called Free Solar Panels Free .

suffragette

(12,232 posts)
8. Beware the "experts" cited in these articles. Reporters did well in pointing to real causes like
Wed Feb 13, 2019, 03:33 PM
Feb 2019

Trump’s tax cuts for wealthy and military spending.

But the so-called experts named are all part of the crew who have been trying to push cuts and privatizing Social Security and Medicare as the “solution.” They are the ones Howard Schultz has been listening to when he says he wants to “go after entitlements” to lower the debt. He is their candidate.

Igel

(35,350 posts)
12. Rather an increased jerk.
Wed Feb 13, 2019, 06:21 PM
Feb 2019

The deficit was projected to increase at an accelerating rate.

The tax cut increased the acceleration. A change in acceleration is "jerk".

The $1 trillion/year deficit mark wasn't supposed to be reached for a couple of years. But it was certainly predicted to be reached fairly soon.

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