America Is About to Cross $40 Trillion in Debt: The First Trillion Took 192 Years, the Last One Took About 5 Months
https://finance.yahoo.com/economy/policy/articles/america-cross-40-trillion-debt-173416494.html
https://finance.yahoo.com/economy/policy/articles/america-cross-40-trillion-debt-173416494.html
10 Comments
FurryMemesAccount@lemmy.blahaj.zone · 12 pts · 7d
GOTTA.
LOWER.
TAXES.
ON.
THE.
RICH.
/s
RickyRigatoni@piefed.zip · 5 pts · 6d
National debt doesn't mean much when you have no intention of ever paying it off.
logi@lemmy.world · 1 pts · 6d
It does if you need to pay interest on the old debt to have any hope of borrowing more.
Also, government bonds always have a set payback time. If the US ever failed to honour that, then the global economy would instantly melt down.
InputZero@lemmy.world · 1 pts · 6d
The Western economy would instantly melt down. I'd imagine the BRICKS country's would be spared most of the fallout.
logi@lemmy.world · 2 pts · 6d
If Western economies collapse, then BRICS follows. China goes first since all their buyers are gone. The gas-station countries would also have nobody to sell to. That very much includes Russia. Nobody is buying Brazil's beef. It's all the same economy.
beardsley@midwest.social · 1 pts · 6d
the other guys will inherit and be blamed for it at the same time.
SatansMaggotyCumFart@piefed.world · 3 pts · 7d
The first trillion is always the hardest to lose.
DarkFuture@lemmy.world · 2 pts · 6d
"ℍ𝕖'𝕝𝕝 𝕣𝕦𝕟 𝕚𝕥 𝕝𝕚𝕜𝕖 𝕠𝕟𝕖 𝕠𝕗 𝕙𝕚𝕤 𝕓𝕦𝕤𝕚𝕟𝕖𝕤𝕤𝕖𝕤."
toiletobserver@lemmy.world · 1 pts · 7d
This article is crap
wyldrstallyns@lemmy.dbzer0.com · 1 pts · 6d
waitaminute... eight years ago was... oh.