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U.S. Debt Ceiling. 31.4 Trillion!

Sytes said:
When is this supposed to occur? "Default"?

My impression, it's diluted to the point numerous loans all have their own, thus the idea of reaching "Default" in the singular sense is PR B.S. hype for the R&D's to wrangle pig rinds...
Is this accurate or?

Also, I've know a good amount is borrowed (aka steal from Peter to pay Paul) from S.S., etc from U.S.C.'s - is there a "Default" for this "loan"?
Click to expand...
Treasury Secretary Janet Yellen warned lawmakers Monday that the federal government could run short of money to pay its bills as early as June 1 unless the debt ceiling is raised soon.

Yellen acknowledged the date is subject to change and could be weeks later than projected, given that forecasting government cash flows is difficult. But based on April tax receipts and current spending levels, she predicted the government could run short of cash by early June.
 
AlaskaHunter said:
The US Debt limit is from past appropriations,
analogous to spending wildly with a credit card,
then waking up to a huge bill that must be paid.

If the US comes close to or does default, both stocks and bonds would tank,
loan rates would rise, inflation would increase, etc.
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The credit card analogy gets used a lot… but then Japan has the highest debt to GDP ratio of any country, but then also holds the most US debt.

I don’t get what’s going on with Japan, how does that work.

There are like 20 or 30 other things like that, which I don’t understand.

So the when people state matter of factly it’s like a credit card, I’m like how in the heck is it even kinda like a credit card lol
 
wllm said:
The credit card analogy gets used a lot… but then Japan has the highest debt to GDP ratio of any country, but then also holds the most US debt.

I don’t get what’s going on with Japan, how does that work.

There are like 20 or 30 other things like that, which I don’t understand.

So the when people state matter of factly it’s like a credit card, I’m like how in the heck is it even kinda like a credit card lol
Click to expand...
Past Congressional appropriations are not paid for immediately, thus the credit card analogy.
 
The amazing thing to me is in 2021 we collected $4 trillion for the US Treasury but spent $6.8 trillion. How can we as a society have a real conversation about what services we want or expect from the government when we start with spending that is so unsustainable?
 
noharleyyet said:
So, not party posturing? Have a color graph for when Gavin's latest stunt goes national...won't take long.
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I’ve wondered if we could break up the debt by categories and create different limits for each so as to eliminate parts of this issue… so like unlimited for gov G&A, paying interest on debts, regular SS payments, and then have have a cap for like building submarines and green energy stuff that is more up for debate…

Through likely the doomsday part is what gets Rs and Ds all hot and bothered as it gets them on TV and fires up their voters.
 
wllm said:
I’ve wondered if we could break up the debt by categories and create different limits for each so as to eliminate parts of this issue… so like unlimited for gov G&A, paying interest on debts, regular SS payments, and then have have a cap for like building submarines and green energy stuff that is more up for debate…

Through likely the doomsday part is what gets Rs and Ds all hot and bothered as it gets them on TV and fires up their voters.
Click to expand...
Label fuggery, you'd be the best campaign manager neither political enterprise would hire.
 
SAJ-99 said:
Which one? Where is the default line?
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Better yet, maybe more reasonable Q that may answer my Q w/in your quote, raising the debt "ceiling":
Is this akin to having the ungodly power of raising our own personal credit card *limit?


*Edit added: To max out again?
 
np307 said:
Almost every major issue dealt with in TWW is still being spoken about in much the same way today.
Click to expand...
I mean pretty much everyone in office were in office during the airing of TWW.
 
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