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The national debt is something like 28 TRILLION and climbing. - Very good explanation of the magnitude

Posted: Oct 11th, 2021 - 1:00 pm In Reply to: DEBT CEILING ANALOGY - Maybe this helps with understanding.

of spending and resulting growth of national debt.

Credit cards are seductive but NOT FREE. I have relatives who charged too much and ended up in bankruptcy court.

When USA national debt gets larger than GDP by some factor, the US$$$ will plummet, imports (now includes oil for gasoline) will cost more and we will turn into Argentina of bygone days.

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DEBT CEILING ANALOGY - Maybe this helps with understanding. (Views: 927, 2021-10-11, 11:00 am)
- Now add on interest to that. The oligarchs/controlling - authority will throw the middle class (Views: 411, 2021-10-11, 12:54 pm)
- It's like getting your credit limit raised so you can borrow - even more money, to continue (Views: 421, 2021-10-11, 12:56 pm)
- The national debt is something like 28 TRILLION and climbing. - Very good explanation of the magnitude
  - We are heading down that road to Argentina. - SM (Views: 468, 2021-10-11, 1:05 pm)
    - Or Venezuela North. - nm (Views: 439, 2021-10-11, 4:31 pm)
- Both the debt and sewage analogies are good except instead - of a credit card, it’s more like a mortgage. (Views: 549, 2021-10-11, 1:05 pm)
- Explaining the Social Security Trust Fund - sm (Views: 840, 2021-10-11, 1:08 pm)
- Here’s a simpler explanation…60% of households pay - no income taxes, so they don’t care. (Views: 546, 2021-10-11, 2:38 pm)
  - So true...and IF they even bother to vote - that same attitude (Views: 488, 2021-10-11, 6:59 pm)
- Lesson #1 response - No one in particular (Views: 554, 2021-10-12, 8:09 am)
  - You are missing the point, as well as trying to blame - the previous President. Also, (Views: 634, 2021-10-12, 11:44 am)
  - This is part of the problem. Big Government has become - Big Nanny Government, for votes. (Views: 363, 2021-10-12, 12:39 pm)
  - Biden has spent more in 2021 than the previous two years - combined. (Views: 401, 2021-10-13, 5:18 am)
- My husband and I went to lunch yesterday at one of our - favorite places, talking with the (Views: 675, 2021-10-13, 6:04 am)
  - Some people (Dims) are so blind to reality. - They still have TDS. (Views: 503, 2021-10-13, 1:39 pm)