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https://www.bloomberg.com/news/arti...-s-2020-budget-deficit-to-record-3-1-trillion

The U.S. budget deficit more than tripled to a record $3.1 trillion in the latest fiscal year on the government’s massive spending aimed at softening the blow from the coronavirus pandemic.

The increase brought the deficit as a share of gross domestic product to 16% in the year ending in September, the largest since 1945, a Treasury Department report showed Friday.
 

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I hope I'm not around when that bill comes due and payable.
 

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I hope I'm not around when that bill comes due and payable.
No one involved in creating it ever expects it to be paid nor do they want it to be. That's how the bankers who own the Federal Reserve maintain their power over us.

Terry
 

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Oh, I expect the bill will come due someday.

:rolleyes:
 

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They are going to have to run the budget deficit clock with a faster computer and scale off a few zeroes so you can actually read the numbers (like McDonald's hamburger signs used to be: millions to billions, then, 'you know ... a bunch'.
 

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Do you remember the U.S.S.R.? Who every thought they would fall. The largest country in the world. A world leading country. A modern country. One of the Top Six. A prime member of the U.N. They failed from within. What went wrong? I can tell you they went Broke. I predict the days of the U.S. are limited and the end is coming. As of this date we are around $30,000,000,000,000 in debt. We owe both China and Russia billions of dollars. All this debt is being financed by debt, doesn't sound right does it, but it is true. The government sales bonds and notes and debt instruments on a daily bases to keep thing afloat and running. Every July the House and Senate have to vote to extend the debt limit of the country just to cover operating expenses. Businesses can not operate on debt, there must be a positive cash flow. The U.S. Government does not take in enough cash to pay its debts, therefore, it has to borrow money to stay afloat. Our money is not supported by the federal government, that why it states on each bill: Note. It is a bill of debt. Remember the Boy Scout motto: Be Prepared and hold on.
 

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It's called hyperinflation and it's going to happen eventually. Probably when I retire so I can watch my 401k lose massive value. Hopefully I can get some of it transferred into real estate before that happens.
 
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Like Clint Eastwood said in Gran Torino, "It's gonna get ****in' ugly".
 

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Meh. The debt is the least of our problems right now.

Plus, the liberals continue to force us towards a conflict that’s going to destroy the United States as a single nation. Whatever new countries rise from the rubble, they probably aren’t going to to pick up the old tab for the U.S.

They are more than likely just going to tell the international community to eff off and deal with the consequences.

China is going to discover the fact that if you owe somebody $100 and can’t pay them, that’s your problem.... But if you owe somebody $trillions and you can’t pay them, that’s THEIR problem.

Who knows, maybe we’ll take China down with us when we can’t pay the debt and they can’t sell us their cheap **** anymore.

That’s all a problem for another day though. The fate of our country hangs in the balance in a few weeks. If Biden makes it into office, the debt problem is just going to be so many candy kisses compared to the problems we’ll be facing under the Harris admin.
 

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Meh. The debt is the least of our problems right now.

Plus, the liberals continue to force us towards a conflict that’s going to destroy the United States as a single nation. Whatever new countries rise from the rubble, they probably aren’t going to to pick up the old tab for the U.S.

They are more than likely just going to tell the international community to eff off and deal with the consequences.

China is going to discover the fact that if you owe somebody $100 and can’t pay them, that’s your problem.... But if you owe somebody $trillions and you can’t pay them, that’s THEIR problem.

Who knows, maybe we’ll take China down with us when we can’t pay the debt and they can’t sell us their cheap **** anymore.

That’s all a problem for another day though. The fate of our country hangs in the balance in a few weeks. If Biden makes it into office, the debt problem is just going to be so many candy kisses compared to the problems we’ll be facing under the Harris admin.
70% of the national debt is owned by domestic government, domestic companies, and private citizens.

The social security trust owns five times more US debt than China does. Good thing nobody needs that.
 
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I Spend a lot of time online researching this
This is what disgusts me with both political parties. From FDR and Woodrow Wilson to Nixon taking us off the gold standard completely screwed us by putting us on a Fiat dollar not backed by anything.
There's a lot of good YouTube videos of very smart people that study their history and like everything else we refused to learn how this doesn't end well.

I listen to and try to not to fall for the tin foil hat so-called videos where they have gold at $100,000 an ounce and silver at 10,000
But more realistically we just rolled over 27 trillion in debt and by 2028 going forward on the US debt clock's own site it looks like we're going to be 80 trillion in debt and this doesn't include any of the so-called unfunded liabilities
State pensions and such using those we're almost a hundred trillion in debt now.

If the printing presses don't stop by my account
A very modest forecast from what I've studied
Is using that same time frame. I could very easily see as others have pointed out online 10k gold in the next 5 years or so 100 an ounce or more silver.

Now to make this political tin foil hat side of me that doesn't think that this is a conspiracy
As I've been reading about how China is rolling out their digital currency and we're not that far behind.
This scares me to death when you take into account supreme Court stacking and privacy rights tell me it's the perfect 1984 scenario
Were the dollars demonetized US digital currency is rolled out. Where the government can track who's been purchasing ammo if that hasn't been outlawed by then or donating to political candidates the other side doesn't agree with.
just look at China's social credit system
That if you don't fall in line how you can be punished by not doing what you're told to do.

Example Try this for a not so far fetched scenario sometime in the not too distant future
Try maybe 5 to 10 years or so. The supreme Court's been stacked nothing to stop for the most part unconstitutional mandates.

remember Obamacare was approved not because of the argument of it not being unconstitutional to mandate a private individual to purchase something but it was okay to tax your citizenry.

Now back to my story. A few years from now you're watching the news and California style vehicle emissions and Eco Nazis have gotten their way nobody needs a gas guzzling V8 anymore due to technology and now mandate that if your vehicle gets under 30 mpg it's got to go. You're an old school hot rodder want to keep your old muscle car going so you figure before the ban let's just hop on eBay and get yourself some old Ford or Mopar blocks for extras before anything stupid is implemented "any of this starting to sound familiar". To stock up on parts before they not be available.
So just like using your credit card or your digital currency.
It would not surprise me at all but if your car parts your purchasing would not be added to a non-compliant list on a federal registry and will be taxed accordingly and automatically. Because of your purchase will fully causing more damage to mother Earth. You'll be taxed higher for your initial purchase and just like a VAT tax a copy of your sales record can be sent right over to the IRS and their new clean energy division. So come federal tax time your new tax rate can be adjusted accordingly for not being in compliance with the status quo.
 

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Meh. The debt is the least of our problems right now.

Plus, the liberals continue to force us towards a conflict that’s going to destroy the United States as a single nation. Whatever new countries rise from the rubble, they probably aren’t going to to pick up the old tab for the U.S.

They are more than likely just going to tell the international community to eff off and deal with the consequences.

China is going to discover the fact that if you owe somebody $100 and can’t pay them, that’s your problem.... But if you owe somebody $trillions and you can’t pay them, that’s THEIR problem.

Who knows, maybe we’ll take China down with us when we can’t pay the debt and they can’t sell us their cheap **** anymore.
I strongly agree with what you've said here. Most of us have been looking at the past to deal with current problems. I don't think that's wise since people are aware of these historical problems and will have plans in place to deal with them. We have to think differently.

The big question is......

Who's going to get screwed over by the explosion? Historically, it's been the taxpayer/citizen but I don't think the population of the U.S. is going to put up with it. It's heresy as far as historical precedent, but I think there is going to be a bid to screw over the bond holders.

People are looking for some way out of our system. I think Bitcoin or an equivalent is going to be a factor. There is going to be some kind of international currency that will be independent of any government control. There will be a LOT of resistance to it but I think it'll be something that people will just start using no matter what anyone says.

V.
 

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https://www.bloomberg.com/news/arti...-s-2020-budget-deficit-to-record-3-1-trillion

The U.S. budget deficit more than tripled to a record $3.1 trillion in the latest fiscal year on the government’s massive spending aimed at softening the blow from the coronavirus pandemic.

The increase brought the deficit as a share of gross domestic product to 16% in the year ending in September, the largest since 1945, a Treasury Department report showed Friday.
Do you think Biden and Kamala can save us?
 
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