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United States National Debt - Latest Total
- Thread starter KenH
- Start date
How do we possibly sustain this cancer? I’ve learned, with only his help can we move into a healthier direction in His grace and mercy. Help us Lord!
Are you a Dispensationalist believer? It is my experience that it is they who always speaks of doom and gloom. I believe it is the Father who has the last say, not evil greed filled humans. It is He who opened the sea so his people could walk right through it and then drown His childrens enemies. Needless to say, I put my faith in Him alone. Not Rome, not America, not any religious system, not any pope or a president, not any political system,blah blahWe don’t sustain it.
It’s only a matter of time before it collapses and brings with it societal chaos.
The clock is ticking.
One’s eschatology has nothing to do with it.
Spend more money than you have or have coming in and you’ll go broke. The major difference between individuals and the government is they can print their own money, which becomes more worthless as time goes on. They can also trade and give away the resources of its land and people in order to borrow money.
No finance or business class required to understand it.
Even if one is debt free, if they don’t pay their property taxes, a form of debt, the government not a bank will come get IT. One will be homeless. Empty hands, empty pockets. That’s where our government is headed.
Dispensationalist Premillennialism, Historic premil, post mil, amillennial has nothing to do with it.
Spend more money than you have or have coming in and you’ll go broke. The major difference between individuals and the government is they can print their own money, which becomes more worthless as time goes on. They can also trade and give away the resources of its land and people in order to borrow money.
No finance or business class required to understand it.
Even if one is debt free, if they don’t pay their property taxes, a form of debt, the government not a bank will come get IT. One will be homeless. Empty hands, empty pockets. That’s where our government is headed.
Dispensationalist Premillennialism, Historic premil, post mil, amillennial has nothing to do with it.
This is a terrifying thought! With our enormous national debt that continues to grow, how can we escape this outcome?
It is interesting how this breaks down.
Over $25 trillion is debt held by the public (treasury bonds, notes, etc.). About $7 trillion is intergovernmental debt (what the government owes itself).
Foreign owned debt is the smallest.
The largest holder is Japan at over $1.1 billion. The strange thing to me is that the US is the largest holder of Japan's foreign debt.
While bad, the national debt is not the dire situation politicians would lead people to believe. But it is bad....not the worst, but bad.
The true measure is debt to GDP (think...if I owe $100k and make $200k, it isn't tge same as owing $100k and making $50k).
A healthy debt to GDP is below 60%. We are over 90%.
Over $25 trillion is debt held by the public (treasury bonds, notes, etc.). About $7 trillion is intergovernmental debt (what the government owes itself).
Foreign owned debt is the smallest.
The largest holder is Japan at over $1.1 billion. The strange thing to me is that the US is the largest holder of Japan's foreign debt.
While bad, the national debt is not the dire situation politicians would lead people to believe. But it is bad....not the worst, but bad.
The true measure is debt to GDP (think...if I owe $100k and make $200k, it isn't tge same as owing $100k and making $50k).
A healthy debt to GDP is below 60%. We are over 90%.
KenH
Well-Known Member
I think that if Christ does not return first, and depending on how many more years you live, you will change your tune about that. $2.5-3 trillion yearly increases to the national debt are not sustainable. Obviously, the national debt is currently increasing WAY more per year than the increase in GDP, and I really don't see the Republican and Democratic Parties as being willing to address the issue in any substantive manner.
I did not say it was sustainable. You misunderstood my post.
I said that the important factor is not the debt but the GDP to Debt ratio.
AND I said a healthy ratio of less than 60% while we are over 90%.
There are two factors - lower the debt and raise the GDP.
I agree that the GOP and DNC are unwilling to address the problem. Each uses the debt or GDP as talking points.
It is like the issue with the boarder. The GOP will fight to keep boarders open (they will reject any true solutions) until after the election. They need it as political capital.
KenH
Well-Known Member
KenH
Well-Known Member
“Since the decay of the feudal system, by which the public defense was provided for chiefly at the expense of individuals, the system of loans has been introduced, and as no nation can raise within the year by taxes sufficient sums for its defense and military operations in time of war the sums loaned and debts contracted have necessarily become the subjects of what have been called funding systems. The consequences arising from the continual accumulation of public debts in other countries ought to admonish us to be careful to prevent their growth in our own. The national defense must be provided for as well as the support of Government; but both should be accomplished as much as possible by immediate taxes, and as little as possible by loans.”
- excerpt from President John Adams’ First Annual Message
- excerpt from President John Adams’ First Annual Message
Yep.Generally speaking, people who rent like boarders.
If we close the border and deport the boarders, we can save 150 billion dollars yearly.