General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsYour children's burden: $20,492,594,576,868 + $1,500,000,000,000
Public Debt Outstanding stands at: $20,492,594,576,868
Republicans cannot call themselves fiscal conservatives when they plan on adding $1.4T - 1.7T to our children's burden.
Calculating
(2,955 posts)Our only real hope is that someday inflation will make it manageable. Trying to pay it off would involve decades of MUCH HIGHER TAXES, and DRAMATICALLY reduced spending off all kinds. Military, SS, medicare, etc would all need to be cut.
The founders really messed up when they didn't put some fundamental rule in our constitution about running a balanced budget.
ffr
(22,670 posts)It can be done. And it can be done while growing the economy and bettering the middle-class.
Calculating
(2,955 posts)We were doing good prior to GWB and his double feature in the middle east.
joshcryer
(62,270 posts)Fixed in two full presidential terms. Worlds largest economy becomes exponentially stronger. But they have no clue what they're doing.
roamer65
(36,745 posts)That number will pass $30T by January 20, 2021 or earlier.
Joe941
(2,848 posts)The answer is. Staying out of wars is prob the best advice.