The national debt has passed a new milestone, topping $22 trillion for the first time.
The Treasury Department’s daily statement showed Tuesday that total outstanding public debt stands at $22.01 trillion. It stood at $19.95 trillion when President Donald Trump took office on Jan. 20, 2017.
The debt figure has been accelerating since the passage of Trump’s $1.5 trillion tax cut in December 2017 and action by Congress last year to increase spending on domestic and military programs.
The national debt is the total of the annual budget deficits. The Congressional Budget Office projects that this year’s deficit will be $897 billion — a 15.1 percent increase over last year’s imbalance of $779 billion. In the coming years, the CBO forecasts that the deficit will keep rising, top $1 trillion annually beginning in 2022 and never drop below $1 trillion through 2029. Much of the increase will come from mounting costs to fund Social Security and Medicare as the vast generation of baby boomers continue to retire.
The Trump administration contends that its tax cuts will eventually pay for themselves by generating faster economic growth. That projection is disputed by many economists.
Despite the rising levels of federal debt, many economists say they think the risks remain slight and point to current interest rates, which remain unusually low by historical standards. Still, some budget experts warn that ever-rising federal debt poses substantial risks for the government because it could make it harder to respond to a financial crisis through tax cuts or spending increases.
Michael Peterson, head of the Peter G. Peterson Foundation, says “our growing national debt matters because it threatens the economic future of every American.”
For citizens with property valued 11,000 assēs or less, which was below the lowest census for military service, their children—proles (from Latin prōlēs, "offspring")—were listed instead of their property; hence, the name proletarius, "the one who produces offspring". The only contribution of a proletarius to the Roman society was seen in his ability to raise children, the future Roman citizens who can colonize new territories conquered by the Roman Republic and later by the Roman Empire. The citizens who had no property of significance were called capite censi because they were "persons registered not as to their property…but simply as to their existence as living individuals, primarily as heads (caput) of a family.
Benjamin Lewis
Rich people don't grow the economy; they squirrel away their money in money laundering schemes like art and real estate, and store it in tax havens in other countries; when you give a rich person money you're basically throwing it away. Corporations don't grow the economy because they never use additional profit to expand their business or pay workers more; they just buy back stocks so the owners and managers can make even more profit; when you give a corporation money you're basically just putting it right into the (offshore) bank account of the CEO.
Fucking Christ. Even in the very beginning civilization was founded upon "expand or die" mentality. Capitalism was a mistake.
Jonathan Moore
lol, tfw you feel that NAFTA was passed in the 90s to push menial labor jobs overseas to free up time and resources to produce more scientists and engineers that could come up with automation to replace that menial labor both foreign and domestic as well as nuclear fusion to cleanly meet the energy needs of such automated factories alongside the computer tech boom that brought us the internet but instead we bungled things so badly with our moronic decadence, pursuit of worthless degrees, elitist greed, religious fundamentalism, bad home loans to people who couldn't pay them back, and a bunch of other stupid things over the past couple of decades. We then elect King Cheeto to end NAFTA and implement tariffs to bring overseas jobs back because we don't have any other choice but instead that ends up having the opposite effect while the chinks we gave those jobs to are smarter and harder working than us and on the path to making the tech advancements in automation and energy we should have made while buying up more of our debt and doing the same to poor countries in Africa, eventually buying up their land and infrastructure.
These are all just symptoms. The source is jewish usury. Debt is a tool to blackmail a nation into giving out all their wealth and labor, for the small price of making a bunch of greedy capitalists rich. Those can then be controlled by blackmail through criminal degeneracy or more bribes, until it's time to ditch and replace them. While this is going on, the debt briskly advanced towards it's goal of imploding to destroy the entire economical system of the nation with it.
