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.
Ryan Young
Noice
Logan Flores
Fiat numbers and basically meaningless.
Daniel Robinson
If Jews are so smart and powerful shouldn't I just convert to Judaism and get with the winning team?
Daniel Ramirez
You'd never be one idiot.
Sebastian Martin
Then where do all these cypto-Jews come from? Nah, I want off this sinking ship.
Adam Lewis
Trump doesn't even know what the national debt is. He thinks that the trade deficit adds to it. It was always a con.
Oliver Lewis
Maybe just cap the debts and cut the welfares might help.
Juan Adams
how do you pay the people 22 trillion back in cash when you make your money by taxing the people? tariffs on international trade? good luck. i don't think that we should give them any cash till we start getting money back and we see some transparency in these people that legitimate rather then stolen info from them getting hacked.
I only worry for the kids. My life is already over, so I have zero personal stake in the outcome. The US was never a nation to me, its culture and mission in the world were always contrary to my fluorishing and happiness. But children deserve better than to be born into an evil empire that's sure to crash down on their heads.
well wouldn't be that high if Obama had not doubled it in 8 years
and if Democrats would stop tacking huge waste into funding bills like money to china and their friends
Matthew Collins
LIAR LIAR.
TO BAD THIS WAS ANCHORED ALREADY!
Nicholas Nguyen
cancerous agenda posting with some gaudy photoshop pic? yea what a loss.
Leo Watson
WHAT AGENDA!? OP is using this as a sole narrative to blame Trump. At least my article blames ALL recent presidents, and calls out BOTH parties!
Joshua Hughes
...
Levi Adams
Debt has ballooned every presidency since George W. Bush, true. And it is news because it has massive economic ramifications. If you don't think so, you don't know anything about economics then. The more debt we get, the worse inflation is going to be. Notice how when you buy stuff at the grocery store things start getting smaller and smaller every year? Well I do notice that. They're trying their best to cover up inflation. Some notice, others don't. However ask yourself if you notice the price to feed yourself and family is going up over the years. Perhaps you'll notice if you keep track. This price inflation will get worse as debt increases over time.
Ethan Jenkins
Good thing your generation did everything in your power to own up to your responsibility to shape the future, invested in education, businesses and development rather than abandoning ship and blowing your money on early retirement and traveling.
Benjamin Flores
oh they did, it's just not the kind of future humans would like to live in
James Hughes
Most debt is owed to american citizens because of the federal reserve system. It's essentially make believe money based on usury with inflation and interest built into the system. Capitalism works when the people have working capital, not credit. The problem is corporatism and oligarchical business leaders. When the laws are designed to give people in power protection instead of the system itself, we're going to have a balloon economy that just saps more and more from the people until we're all in too much debt to do anything other than riot or submit, and that's lose-lose because foreign interests will leap at the chance to influence and take over a fractured country.
