Federal Debt Tops $19,900,000,000,000

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Peter1469
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Federal Debt Tops $19,900,000,000,000

Postby Peter1469 » Wed Nov 30, 2016 6:21 pm

Federal Debt Tops $19,900,000,000,000

And interest rates are rising....

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The federal debt moved above 19,900,000,000,000 for the first time as of the close of business, Nov. 22, the Tuesday before Thanksgiving, according to data released by the Treasury.

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Hopefully we can get the deficits under control.

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Archer
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Re: Federal Debt Tops $19,900,000,000,000

Postby Archer » Wed Nov 30, 2016 6:34 pm

Peter1469 wrote:Federal Debt Tops $19,900,000,000,000

And interest rates are rising....

_____________________________

The federal debt moved above 19,900,000,000,000 for the first time as of the close of business, Nov. 22, the Tuesday before Thanksgiving, according to data released by the Treasury.

__________________________

Hopefully we can get the deficits under control.


Total lunacy! It will only be paid back by making some deep cuts in many entitlement programs and increasing revenues. It does not mean tax increases! It mean putting the moochers in their place and getting some low paying jobs back! A low paying job offsets the bennies paid out, improves attitude (creates some conservative voters), increases revenue (state level for one thing and that in turn decreases federal expenditures),creates higher paying support jobs (service sector)...

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Re: Federal Debt Tops $19,900,000,000,000

Postby Peter1469 » Wed Nov 30, 2016 7:24 pm

I suspect there won't be much effort to fix the deficit and debt problem and that there will be a crash that will deleverage a good bit of the debt. Unfortunately that will hurt savers the most.


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