National debt balloons an extra 5.2 trillion in 3 yrs

[Cuddles]

https://www.newsweek.com/national-d...during-trumps-3-years-president-1503864?amp=1
National Debt Has Increased $5.2 Trillion During Trump's 3 Years as President

According to the Peter G. Peterson Foundation, a non-partisan fiscal watchdog, the national debt rose from more than $19.9 trillion on January 20, 2017 to more than $25.2 trillion Wednesday.

The increase follows Trump's comments, highlighted in an interview the then-presidential candidate gave to the Washington Post, that he would eliminate the United States' national debt "over a period of eight years" in part by reducing or eliminating trade deals with various countries, including China.

https://www.cnbc.com/2018/09/11/tru...lower-the-national-debt-woodward-reports.html
Trump told Gary Cohn to 'print money' to lower the national debt, according to Bob Woodward's book

• "Just run the presses — print money," Trump said, according to Woodward, during a discussion on the national debt with Gary Cohn, former director of the White House National Economic Council.

https://www.thedailybeast.com/trump-on-coming-debt-crisis-i-wont-be-here-when-it-blows-up
Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up
The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

 

[ground zero]

At the beginning of this year the National Debt was 23.2 trillion, but with the rise of covid and the ensuing stimulus, the National debt today is 26.64 trillion. What's really shocking is the projections for 2024. Supposedly, the National debt will be approximately 45 trillion by the end of 2024. Apparently, there will be more stimulus bills and debt forgiveness to come.

 

[piezoe]

The problem currently is not the increase in deficit spending needed to keep the economy afloat, but rather the precipitous fall in productivity. The risk now is all on the side of spending too little rather than too much. One has no choice other than to assume the current state is temporary and that a vaccine will be widely available by early 2021. However gross mismanagement of the pandemic at the federal level is going to prove extraordinarily costly because productivity loss will be much greater and extended for longer than had the pandemic been managed in the U.S. as efficiently as it was in countries that rolled out widespread testing, contact tracing and isolation early on. We still do not have adequate testing in the U.S.

 

[Amun Ra]

Every president pretty much doubles the national debt during his term. Whether with an unnecessary war, unnecessary wall st bailout, unnecessary health care act that doesn't help anybody, or an unnecessary pandemic shutdown. Every new president we're going to have something big we have to spend money on.

Had democrats won in 2016, Nobody in America would've ever heard of Covid. It would've just been "a new flu". We'd be spending all this money on the big one right now...Climate Change. But I guess we get to put that in our pocket for the next president. What worries me is once we get to a debt of around 70 or 80 trillion, what big event needs to happen to justify spending another 70 or 80 trillion in 8 years.

 

[Overnight]

...

Had democrats won in 2016, Nobody in America would've ever heard of Covid. It would've just been "a new flu". We'd be spending all this money on the big one right now...Climate Change...

That seems a bit obtuse, even for you Amun.

Besides, how would we be spending all the money on climate change? By offering to buy everyone a new Tesla model 3?

Yep, that will solve the assumed problem of too much CO2.

 

[ironchef]

That seems a bit obtuse, even for you Amun.

Besides, how would we be spending all the money on climate change? By offering to buy everyone a new Tesla model 3?

Yep, that will solve the assumed problem of too much CO2.

In that case, instead of tailpipes spitting out CO2, all the power plants will spit them out instead.

Instead of oil -> gasoline -> powering cars now you have oil/natural gas -> generate electricity -> charging battery -> powering cars.

I think the first link is more efficient than the second link. And you also do not have the headaches of disposal of the toxic spent batteries.

 

[Amun Ra]

That seems a bit obtuse, even for you Amun.

Besides, how would we be spending all the money on climate change? By offering to buy everyone a new Tesla model 3?

Yep, that will solve the assumed problem of too much CO2.

Just putting that money in the right peoples bank accounts will suddenly "fix" global warming without anything having to be done. No need to give anything to the peasants.