you are viewing a single comment's thread
view the rest of the comments
[+] -10 points 4 months ago (7 children)
  • [–] 7 points 4 months ago (1 child)

    That's just Trump. He has spent slightly more than half of the national debt in 6 years. Helping people worldwide didn't cost shit for what we were getting out of it. Helping our own people returns an average of $2.50 to the economy for every single dollar spent.

  • source
  • parent
  • hideshow 1 child comment
  • [–] 4 points 4 months ago* (4 children)

    It’s important to distinguish debt from deficit

    As of 2026, the U.S. federal deficit is projected to be approximately 6.4% of GDP.

    This year we spend 6.4% of GDP more than the federal government takes in. That’s excessive and out of control but we’re not spending more than GDP.

    Our accumulated debt on the other hand is that and rising. Countries get a lot of leeway on debt and us being reserve currency means we get even more leeway. But already interest on the debt is becoming our largest expense, making us be able to afford less and less.

    And at some point we’ll hit a wall. Not knowing where the wall is doesn’t mean it’s not there, it just means we can’t predict it until we smash our heads against it. And some idiot thinks it’s ok to monkey with the US dollar being the world’s reserve currency? If that idiot succeeds, that invisible wall of insolvency suddenly jumps closer

  • source
  • parent
  • hideshow 4 child comments
  • [+] 1 point 4 months ago (3 children)
  • [–] 2 points 4 months ago (2 children)

    The tighter we try to hold that petrodollar, the faster it’s squeezing out of our grasp. I have no doubt that’s what Trump was attempting but he’s just speeding up the end. Maybe that’s also good from his perspective because he only cares about himself and the next administration is likely to feel the pain

  • source
  • parent
  • hideshow 2 child comments