US Adds $5.2 Billion Per Day To Its Ballooning Debt Pile

[IroNat]

 

https://finance.yahoo.com/news/us-adds-5-2-billion-191525379.html

US Adds $5.2 Billion Per Day To Its Ballooning Debt Pile, Which Is Now $101,240 Per Citizen — Economist Warns 'Net Interest Payments On The Debt Are Expected To Surpass Defense Spending'

This translates to an average of approximately $259,000 per household and $101,240 per person, according to real-time data from the site USDebtClock.org. Those figures bring the enormity of the debt into a more tangible perspective for American families.

[deadz]

Thanks Cuntard Biden!

[Primemuscle]

Thanks Cuntard Biden!

Also, thanks to his predecessor.

The national debt increased by almost $7.8 trillion during Trump’s time in office. It amounted to about $23,500 in new federal debt for every person in the country. To be fair, the current regime, Biden and Congress aren't doing anything reduce the national debt.

The last time that the budget was balanced or had a surplus was 2001, which was at the end of Clinton's term of office. There was no deficit or surplus due to spending and revenue being equal.

Congress and President Lyndon Johnson balanced the budget in 1969.

There are only 5 times that the budget was balanced in U.S. history.

Do not get me wrong, a balance budget would be excellent. It is also important to know this doesn't happen very often.

[SOMEPARTS]

Do not get me wrong, a balance budget would be excellent. It is also important to know this doesn't happen very often under Democrats.

Impossible to balance a debt the size we have now, even a yearly balanced budget is a pipe dream given the interest being paid to kick the can. We won the cold war by outspending the east and they now have infiltrated our country to the point that we will topple from outspending ourselves while stripping away manufacturing and energy production.

[Primemuscle]

Impossible to balance a debt the size we have now, even a yearly balanced budget is a pipe dream given the interest being paid to kick the can. We won the cold war by outspending the east and they now have infiltrated our country to the point that we will topple from outspending ourselves while stripping away manufacturing and energy production.

Funny that you changed my post to read that a balanced budget doesn't happen often under Democrats. I think you are wrong. Five Republican Presidents and three Democratic Presidents are a the top of the heap for debt increases.

In the last 50 years President Clinton and President Ford were the only two Presidents to have a balanced budget. So that is one for one. Andrew Jackson was the seventh U.S. President. He was also the first and only President to completely pay off the debt. He was also the first Democratic President.

President Franklin D. Roosevelt (D) has the distinction of being President when the debt increased the most. Wonder why? He was President during the Great Depression. President Woodrow Wilson (D) comes in second for raising the debt. The debt was increased to cover the cost of WWI. 

President Ronald Reagan (R) beloved by many of today's old school Republicans had the third highest debt increase. He and Congress reduced inflation and lower nominal interest rates, the U.S. borrowed both domestically and abroad to cover the Federal budget deficits, raising the national debt from $997 billion to $2.85 trillion. Another reason for the large debt increases during the Reagan years is the Economic Recovery Tax Act of 1981 (Reaganomics) which cut the highest personal income tax rate from 70% to 50% and the lowest from 14% to 11% and decreased the highest capital gains tax rate from 28% to 20%.

I am going to take a break here because I don't want to overwhelm you with the U.S. debt history. But the reasons for Congress and Presidents increasing the debt are consistent though out U.S. history. Note the reasons for President Reagan’s debt increases are almost identical to what is going on today with our economy.

[illuminati]

Funny that you changed my post to read that a balanced budget doesn't happen often under Democrats. I think you are wrong. Five Republican Presidents and three Democratic Presidents are a the top of the heap for debt increases.

In the last 50 years President Clinton and President Ford were the only two Presidents to have a balanced budget. So that is one for one. Andrew Jackson was the seventh U.S. President. He was also the first and only President to completely pay off the debt. He was also the first Democratic President.

President Franklin D. Roosevelt (D) has the distinction of being President when the debt increased the most. Wonder why? He was President during the Great Depression. President Woodrow Wilson (D) comes in second for raising the debt. The debt was increased to cover the cost of WWI. 

President Ronald Reagan (R) beloved by many of today's old school Republicans had the third highest debt increase. He and Congress reduced inflation and lower nominal interest rates, the U.S. borrowed both domestically and abroad to cover the Federal budget deficits, raising the national debt from $997 billion to $2.85 trillion. Another reason for the large debt increases during the Reagan years is the Economic Recovery Tax Act of 1981 (Reaganomics) which cut the highest personal income tax rate from 70% to 50% and the lowest from 14% to 11% and decreased the highest capital gains tax rate from 28% to 20%.

I am going to take a break here because I don't want to overwhelm you with the U.S. debt history. But the reasons for Congress and Presidents increasing the debt are consistent though out U.S. history. Note the reasons for President Reagan’s debt increases are almost identical to what is going on today with our economy.

See your so busy doing other more important things as usual
Rather than slavishly spending time googling & posting on Getbig.
Carry on being so busy.