Whats the easiest way to write off 211 trillion
- Thread starter gardentiger
- Start date
I don't usually write off that much since my son is in love with hookers and blow so I can just count it as a loss.
Funny how national debt goes up no matter who is president and yet somehow is always the other side’s fault. 🤷🏻♂️
For me, I go back to George W. This nation was hovering about about 3 trillion and then 9/11 happened.
Since then, we've spent like never before, both foreign and domestic. We've changed our views of debt, and what it means to be in debt.
We should have invaded Afghanistan, but never turned it into another Vietnam.
Iraq should have probably never happened. Instead we should have turned America into the biggest oil producing nation in the world and bankrupted the middle east.
Bush had a chance to totally reform this nations foreign oil dependence, and didn't. Instead he helped create the socialist state of Iowa with stupid corn based ethanol. Which doesn't nothing to help the environment.
We all could go on and on, but look at the "borrowing" and spending just this century, it's totally amazing! And then compare it to the way this country spent money the previous two centuries, wow!
For the record, I vote right, mainly on the right to life issue. Beyond that, I see little difference.
Interesting stuff here. Post covid to very much look like post WWII
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United States Gross Federal Debt to GDP
The United States recorded a Government Debt to GDP of 122.30 percent of the country's Gross Domestic Product in 2023. This page provides - United States Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.
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W. Talk about a puppet…
Good man, but pretty weak as a leader. Like his dad, a really good ex-president.
^^^^^^^^^^^^^This^^^^^^^^^^^^
We live in a society where everyone blames anyone else and can’t look in the mirror.
The FED could keep hitting the enter button until the demand for US Treasury goes away. Then the people with Bitcoin will be tried and hanged. Their net worth will be distributed among the political class that made that happen. Trevor Lawrence will be spared from death based on his popularity with fans and ultimately elected as president of the United Southern States.
And I’ve said it before, but nearly all of the debt is intercompany. you literally write it off like this:
Entity A owes entity B $1
Entity B owes entity C $1
Entity C owes entity A $1
That’s intercompany debt. You make an accounting entry to clear it. Nobody receives any money and nobody pays any money.
It’s why public spending by the give isn’t much of a concern especially since the spending helps the economy tremendously. Don’t forget: the source of the money (the treasury) literally made up the money out of thin air. If it’s not owed to a foreign or private entity, it’s not debt that we should be concerned about.
Entity A owes entity B $1
Entity B owes entity C $1
Entity C owes entity A $1
That’s intercompany debt. You make an accounting entry to clear it. Nobody receives any money and nobody pays any money.
It’s why public spending by the give isn’t much of a concern especially since the spending helps the economy tremendously. Don’t forget: the source of the money (the treasury) literally made up the money out of thin air. If it’s not owed to a foreign or private entity, it’s not debt that we should be concerned about.
