‘The national debt is now larger than the economy’: Watchdog marks 100% of GDP milestone for $39 trillion burden
Source: rascallyrascal1511
‘The national debt is now larger than the economy’: Watchdog marks 100% of GDP milestone for $39 trillion burden
Source: rascallyrascal1511
47 Comments
“The national debt now exceeds the size of the entire American economy.”
Let that sink in.
But Republicans are the fiscally responsible party
The deficit hawks (aka those who oppose social spending and regulation) are readying themselves to order austerity when Democrats get back into power.
100% GDP? Cool cool cool, so we’re basically a giant credit card with a country attached.
Trump’s “gold card” visas at $5 million each were supposed to pay off the national debt. They’ve sold only one so far.
We we some how have money for unnecessary wars, monuments to Trump, and money for his countless golf trips.
Just pass the entire debt onto our grandkids to sort out. Problem Solved!
Woah, who coulda seen that coming other than say, a god-tier businessman?
DOGE really did great things and Trump as ruined America !
*The party of* *fiscal responsibility*, everyone.
Oh look, this shit happened while Republicans are in charge. Again.
Please get a savings fund together out there y’all. When the debt hits the fan, the 2008 recession will have looked like a tutorial
And this will cause interest rates on the debt to skyrocket.
can be paid off in 30 years or like a mortgage..
As usual, Republicans are complete and utter shit for the economy.
It’s fine guys, he’ll just declare bankruptcy and move on to the next thing. It’s worked out for him in the past.
Our economy is being STOLEN
It’s totally fine, everyone in government right now will be dead or on their private island when this fully collapses our economy.
Have fun kiddos.
That’s swell people watching protections being gutted and their future be burdened with debt, but it’s ok cause social media rageslop will be there to make you forget.
But just think how bad it would be if not for DOGE!
/s
So were at the point where the governments credit card bill is literally bigger than the entire countrys annual income, and both parties are still pretending tax cuts for billionaires and endless military spending are just fine.
How soon will the interest on this debt exceed the GDP? No worries. We’ll just blame it on Biden
Party of LAW and ORDER Folks!
Run by a Rapist, Felon and Child Predator. Raped a 13 year old girl and possibly had sex with his own daughter.
I think it’s 27% of the debt is from Trump personally.
Makes sense when you manage to bankrupt all your businesses.
When MAGA said he’s gonna run it like a business they were right. He enriched himself as much as possible and will jump from the burning plane with his golden parachute.
Don’t worry guys, we got money for war. Just not healthcare, or education, or housing.
I want to congratulate the Republicans. Without them, their unfunded wars, and their multiple economic crises over the past two decades, none of this would have been possible. A shout out to corporate Democrats for the big assist with their unwavering support of Reaganomics.
Will the ballroom have golden toilets?
All time record is 106% just after WW2…we’re almost there!!111 /s
Disastrous and irresponsible. Republicans have bankrupted us
Well I guess another Trump bankruptcy is right around the corner
The problem with capitalism is sooner or later you run out of other people’s money.
Its lining the pockets of the administrations cronies. Dump them and seize it back
So were just living in an economy that owes more than it makes, and nobody in charge seems to think thats a problem?
The GOP gives the rich tax cuts every chance they get . The next few generations are fucked.
The Boomers are fucking monsters. The greatest generation built up America to be the global leader in absolutely everything. They built an economy with cheap, accessible education, opportunities for workers without an education, and social progression.
And the fucking minute the boomers were all into adulthood they immediately started tearing it apart. They spent the 80s and 90s dismantling the social safety nets that supported others. They spent the 2000s running up the debt so they could squeeze a few more bucks out of their prime earning years. And now instead of just dying and leaving us the fuck alone they are making sure to tear down everything that’s left with any value.
All they had to do was nothing, but the most selfish generation in history has to make sure they leave absolutely nothing in their wake. Maxed out credit cards, poisoned land, and everyone hating us. Trump is going to nuke someon before he leaves office. Why wouldn’t he? He doesn’t care if people use nukes after he’s gone.
Oh, Republicans… you are so consistent on wrecking the economy. But how are the new billionaires of this corrupt administration?
Anyone care to bet that once he takes over the fed he’s going to have his sycophant appointee create trillions of dollars of new money to “pay off the debt” and pocket a bunch of it himself before he realizes that he made the USD effectively worth less than the paper it is printed on?
Not to talk down to anyone, but for those to whom it isn’t obvious:
This is comparing two quantities that are measured differently. The “national debt” is measured in dollars. The “size of the economy,” meaning the gross domestic product, is measured in dollars per year.
It would now take about 365 days and 14 hours of gross domestic product to equal our national debt.
It does matter that this proportion is getting larger, perhaps likely soon to exceed the maximum we’ve ever had (though Britain has had much larger, over 250% shortly after the end of the second world war). Many factors influence whether that debt is sustainable or not, and there is valid reason for concern. However, it is not like we crossed a magic line in the sand.
Hey dumb shit, news flash. They are out to ruin the country.
*’America would prefer to be destroyed by a child rapist and child killer, than be led by a Black woman.’*
I’ve managed my debt for 26 years now and I owe 1/2 of what I owed at my peak. 16 years ago.
The GOP GDP
All thanks to the petrodollar. Without that, we couldn’t borrow shit.
My financial advisor couldn’t stop talking about the national debt when Biden was president, and how we were all doomed. But now that it’s far worse under the orange goblin? Not a peep.
Broke ass country with the greediest rich people in charge.
We were bankrupt the minute he was sworn in
and it’s only May.