This year, U.S. national debt is set to approach 100% of GDP, up from 36% in 2005.By 2035, the tab is projected to reach 118.5% of GDP as higher debt costs steepen the deficit, fueling further government borrowing. Today, the deficit stands at $1.9 trillion with net interest and mandatory spending outpacing revenues.This graphic shows U.S. federal debt projections to 2035, based on data from the Congressional Budget Office.
pull down to refresh
related posts
147 sats \ 12 replies \ @Undisciplined 4h
Unlike after WWII, there's no credible plan to get that number back down.
reply
44 sats \ 7 replies \ @0xbitcoiner OP 4h
The debt is the big, ugly secret everyone's ignoring. As long as people keep buying US bonds, no one's going to take this seriously. It's the same old song and dance in Europe... Now I finally get what that crooked Portuguese politician was on about: debt isn't something you pay off, it's something you juggle!
reply
43 sats \ 6 replies \ @freetx 4h
They cannot pay the debt off....I don't mean that as a fiscal problem. Our money is debt (or, our debt *is money).
So paying off debt = destroy money. If they paid 50% of the debt off, that would be $17T in money wiped out (ie. massive deflationary collapse).
reply
10 sats \ 5 replies \ @Undisciplined 4h
Until they get down to the couple of trillions dollars in actual specie.
Yeah, paying off the debt would necessitate a 90% contraction of the money supply. Although, the Treasury could always crank up the actual printer.
reply
53 sats \ 4 replies \ @freetx 3h
Heres your choices:
-
Do nothing and let hyperinflation take over
-
Default on debt and deal with resulting wars
-
Somehow try to "pay down debt" (big unknown) and deal with 90% deflationary collapse
-
Transition to bitcoin standard and forget about it
reply
49 sats \ 0 replies \ @Bell_curve 3h
we should be able to cut federal budget to fiscal year 2019, i.e. pre Covid spending levels
That should trim 2 trillion annually?
update: paying down debt is unnecessary as long as we don't default on our bond payments
reply on another page
10 sats \ 2 replies \ @Undisciplined 3h
What happens to the holders of dollar denominated debt with the bitcoin plan? It seems like that's just a variant of one of the other three choices.
view all 2 replies
40 sats \ 3 replies \ @freetx 4h
This is why I think a SBR is such a good idea....not for some silly notion that we will use bitcoin to "pay off the debt", rather a national SBR will encourage and greenlight everyone to adopt a bitcoin standard.
The only hope we really have is to "soft-land" everyone into a bitcoin standard, and let the debt and dollar just zoom away...
reply
52 sats \ 1 reply \ @Bell_curve 4h
This debt ratio today is embarrassing, at least in 1945 we could use a world war as an excuse for racking up debt
reply
9 sats \ 0 replies \ @Undisciplined 4h
Clearly you're forgetting about the Global War on Terror. I'm sure that'll wrap up any day now and all the excessive spending will go away.
reply
20 sats \ 0 replies \ @Undisciplined 4h
I can't imagine there's going to be a soft landing on this. The wealth transfer as this debt gets defaulted on is going to be insane.
reply
0 sats \ 0 replies \ @BitcoinIsTheFuture 3h
Let’s go Broke! Bitcoin will eat it up!
The fiat standard is broken and only the Bitcoin Standard can save it. Tick tock next block!
reply