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The U.S. national debt reached $20 trillion for the first time ever last Friday after President Trump signed a bipartisan bill temporarily raising the nation's debt limit for three months.
While at Camp David, Mr. Trump, with the stroke of his presidential pen, increased the statutory debt last Friday by approximately $318 billion, according to the Treasury Department. Before the bill's completion, the U.S. debt was sitting around $19.84 trillion.
The legislation allowed the Treasury Department to start borrowing again immediately after several months of using "extraordinary measures" to avoid a financial default. The bill passed last Thursday 80-17 in the Senate and in the House 316-90 on Friday. Around $15 billion in emergency funding for Hurricane Harvey recovery efforts was attached to the borrowing measure.
https://www.cbsnews.com/news/national-debt-hits-historic-20-trillion-mark/
[That works out to just shy of $62,000 per American. --Ed.]
(Score: 2) by aristarchus on Friday September 15 2017, @08:24PM (5 children)
This is completely ridiculous! Are you Bain Capital? Corporate raiders that can only rate an enterprise by liquidating it? There is no place for the $20 trillion to go. If it was not debt, it would not exist. Debt is someone else's asset, whether it is ever paid off or not.
(Score: 0) by Anonymous Coward on Friday September 15 2017, @08:40PM (4 children)
The $20 trillion debt represents a lack of accounting for the return on investment.
It cannot be clearer.
(Score: 1, Troll) by aristarchus on Friday September 15 2017, @10:14PM (3 children)
No, it does not. Just because you think so, does not make it so. A Puritan background in tightwaddyhood and asceticism may make you abhor debt as a moral sin, but it is perfectly acceptable to have debt in perpetuity. Or are you suggesting that the United States of America should go out of business? Are you a Nazi, or a Reb?
(Score: 2) by aristarchus on Saturday September 16 2017, @07:21AM (1 child)
And aristarchus WINS the Troll mod of truth! Victory lap, y'all! Goldbug neo-nazis feeling the burn! So sad, too bad. I sometimes wish our more repugnant ACs were a bit more literate and schooled in the ways of economics and monetary theory, but you know, there is something to be said for reprehensible stupidity. Not sure what that is, but someone once said it takes all types! Shortly after he said that, he was dragged away by a mob of Christians in Alexandria, cut into very small pieces, and burned on a pyre.
So we try one more time: Private debt and public dept are not the same thing. There is nothing wrong with fiat currency. We will tax your ass, with guns if necessary, because you should understand civic responsibility, and if you do not, when, the guns thing. And, you are stupid and deluded, and a libertariantard. So there!
(Score: 0) by Anonymous Coward on Saturday September 16 2017, @04:19PM
dude, stop with the colorful adjectives and nouns for your descriptions of people and concepts, and turn to the side and count to 10 when the righteous fury of being able to correct a wrong you have seen on the forum arises, and maybe you'd be less likely to offend when your rhetoric is toned down.
its hard to stay on your side when you seem to trade brains with ethanol-fueled--but he is at least consistent. we know what to expect from him. you don't have the same condition, but appear to be related somehow--you just got the passive gene and he got the dominant one.
unfortunately we are learning that you react strongly to perceived personal slights or misunderstandings--but you were not always that way.
i can't say lighten up, but I can say tone it down. you're free to post as you like, but remember, the community mods you if you don't mod yourself. i am not speaking of self-censorship either --i'm saying phrase your same ideas more professionally than resorting to name calling when it seems like people don't agree with you.
it may work on other forums, but it doesn't seem to be working here
(Score: 0) by Anonymous Coward on Saturday September 16 2017, @05:26PM
It is perfectly natural to be poor, doesn't mean it is a good idea or desirable...