The national has hit 22 trillion. Ouch. The next recession could be a doozy. Any worries.
When Trump became president in January 2017, 152,076,000 Americans were employed. Last month, that number grew to a record 156,945,000, a gain of 4,869,000 in two years.
The national has hit 22 trillion. Ouch. The next recession could be a doozy. Any worries.
Hush! Quiet!
Pay no attention to the man behind the curtain.
The national has hit 22 trillion. Ouch. The next recession could be a doozy. Any worries.
Ask Greece what happened when they went too far into debt, and their debt/GDP ratio became too high!What does the national debt have to do with the dooziness of the next recession?
Ask Greece what happened when they went too far into debt, and their debt/GDP ratio became too high!
Ask Greece what happened when they went too far into debt, and their debt/GDP ratio became too high!
Not at the moment. Our current ratio is 104% In 2017, Greece was at 178%. With increasing interest rates, and continued government spending that outpaces income, our debt will continue to grow. The collapse point will likely come by the time the ratio hits 200% (my best guess), and we can no longer afford to pay the interest on the debt.Do you really see an equivalence?
Not at the moment. Our current ratio is 104% In 2017, Greece was at 178%. With increasing interest rates, and continued government spending that outpaces income, our debt will continue to grow. The collapse point will likely come by the time the ratio hits 200% (my best guess), and we can no longer afford to pay the interest on the debt.
I think this is a serious problem. At some point, the US prints money.
The issue isn't that our current debt is "too high", it's that we're adding $1 trillion per year during an economic boom.
But, having said that, I don't have a good way for retired people to protect themselves.
Ok, then let's look at the #1 nation in terms of debt/gdp...Japan. They've gone so far into debt (238%), that they've been in a permanent recession for 20+ years. That's not the whole story there, of course, but they do have complete control of their currency.So the US dollar loses value......
Greece could not devalue the Euro.
I’m not saying that our national debt is of no concern. I just don’t think the Greece situation applies as they lack a sovereign currency among numerous other differences.
We may need to close this topic as it's hard to be nice about it. I highly respect the opinions of the members of this forum, but I've nothing nice to say about the Congress who voted to accelerate the growth of the debt and the clueless golfer.
I think I'd better put this thread on ignore.