Here's who will pay for America's $35T debt
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- čas přidán 7. 07. 2024
- The US national debt has ballooned to $35 trillion, but how much of this burden will be eased by US taxpayers? Yahoo Finance Senior Columnist Rick Newman explains how the US can pay down its $35 trillion debt.
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#biden #trump #nationaldebt #yahoofinance
Taxpayer's will pay for America's $35T debt
Maybe the Gen x, y and z tax payers. Not the ones who accrued those taxes, for sure. Boomers think government, roads, clean water, schools, etc. are FREE.
President Trump approved $8.4 trillion of new ten-year borrowing during his full term in office, or $4.8 trillion excluding the CARES Act and other COVID relief.
President Biden, in his first three years and five months in office, approved $4.3 trillion of new ten-year borrowing, or $2.2 trillion excluding the American Rescue Plan.
President Trump approved $8.8 trillion of gross new borrowing and $443 billion of deficit reduction during his full presidential term.
President Biden has so far approved $6.2 trillion of gross new borrowing and $1.9 trillion of deficit reduction.
Hopefully the people who have almost all of the money. Multimillionaires and billionaires
Capital gains taxes should be the centerpiece of every discussion about taxes.
Don’t raise taxes on what people earn by working. Raise taxes on what people get by clicking “sell” in their investment portfolio
@@SigFigNewton the minute they annouche the hiked taxes...on capital gain..there wont be any gain left to tax... the market and thus the unrealised investment values will go down in matter of days... most of wealth in the market is just imaginery valuation based on future post tax earnigns that the investors can potentially make ... only thing that can be taxed away is the money in the bank accounts of large coporations ...and that is a very samall amount realtive to their valuations... all the valuation we see is not real wealth sitting there ot be taxed...its a ballon with hot air... as the stock and RE market are in a bubble... the valution of Nvidia is almost as much than entire GDP of India... taht company has total employee count of less than 30k.... so you think 30k peoople can generate same kind of money as 1.40 billion peoepel...? and that valuiation can be taxed with out a collapse? its all fiction... the minute they try to hike taxes corporate or capital gains taxes the entire ship wil sink..and US debt to GDP will ballon to 200% with a massive depression....
. cut social security and not military? cut medicare and not government workforce? dude is clueless
Old people have enough money is the point.
@@Ek0 no cuts necessary
@@Ek0Many millions do not though. Many rely on social security to survive.
Luckily I won't be in this country when this shitshow happens.
bye
@@stevem9628 👋 enjoy your taxes and high cost of living.
@@AKAAAK thanks I will, please leave now so we don't have do hear your opinion. Bye.
@stevem9628 sounds like you and that mouse in your pocket are the only ones who don't want to hear my opinion. But then again I could care less what your opinion is. You apparently are very concerned about my opinion cuz you're the only bozo commenting on it 👋
Next week ?
US Will never pay back that huge debt 🤣 Never ! Its not possible !
In 2022, Ukraine aid $174 billion and U.S. foreign aid another 74 billion dollars to another 150 countries, but US citizens have to acquiesce to program cuts?
@@loumarich3562 Israel is also eating US tax payers money since 1948
@@loumarich3562 those numbers are peanuts compared to social security and health care. Even just servicing the debt is blowing those numbers out of the water.
🤷🏻♂️ I just work here…
Why not remove tax breaks/handouts or tax them as much as me, from mega companies?. Why do you guys keep talking about SS? BTW, I'm currently working
Everyone who buys groceries will pay for it. Hyperinflation is the only way forward. Taxes aren’t going up, and spending isn’t coming down.
learn what hyperinflation is
It’s literally impossible to pay down the tax bill. That is the whole purpose of the federal reserve to create money with an interest rate attached to it.
Buy yourself some gold and silver as protection
Gold yes , if your adjust for inflation silver is negative money since over the longterm.
@@kylebeaton5604 wrong silver has kept up with inflation in the long term.
@@NooeeeNNN silver was about $20 in 1950 , inflation has gone up by 3.8% per year 900% compounded. That's a huge loss.
@@kylebeaton5604 what are you talking about the price of silver in 1955 was $0.91??!
@@NooeeeNNN what 900* 0.91
It's not hard problem to solve. What's lacking is political will. The problem is everyone wants benefits but not pay for it, this is true for regular American people as much as corporations. The solution is just simply trim benefit, increase taxes. That's it. But off course, this will cause freeloaders and corporations alike to cry. Time to stop pampering them.
Obama repeatedly tried to come to a "grand compromise" and meet the Republicans in the middle on taxes. BUT McConnell said from day 1 of Obama's Presidency he would fight every bill Obama tried to pass. McConnell said, "The single most important thing we want to achieve is for President Obama to be a one-term president."
@@JohnDoe-lc9yjif only he could’ve stopped ACA
@@TrevForPresident McConnell repeatedly tried to stop the ACA, but decided tax cuts for billionaires was more important.
vote for me and mexico will pay for it. Make america solvent again.
If you have savings, you will pay. This fits the you will have nothing and like it narrative.
Our stock market is worth 50+ trillion dollars, far more than any other country on the planet! Within that we have a lot of companies from other countries so can't fail.
@@juancdeliotejr5443 that is a whole other mechanism of it
I don't think Yahoo understands the situation
It’s impossible to pay for it. Realistically, it won’t be paid. Taxpayers don’t make enough to pay it off. Bankruptcy is the only way out.
The national debt is just a stockpile of government IOU's, just like the dollar. Only difference is one has no interest rate and the other does. They both come from the same printer and paying for the debt is as simple as converting one of those government IOU's to another.
To late for that.
Diversify geographically. Both Canada and Australia have 1/2 the central government debt to gdp ratio of the US.
When future obligations are considered, the debt is $150 trillion.
USA may not be able to pay the pricipal but heck, it is paying 1.2T every year for interests which is still a very high number
Cut government pay, benefits, and jobs that are not needed
Seen inflation for the last 3 years?? That's who is paying
its only been falling while the debt has only been rising
I think all the smart people will vote with their feet and move out of this stupid county. I didn’t make this mess and I am not bailing you out!!!
you can't pay it back.
it will only grow exponentially from here.
It's impossible to balance the budget.
Total unfunded obligation: $73.2 trillion. Medicare and Social Security are responsible for 100 percent of the unfunded obligation.
Current policy is unsustainable as debt would exceed 500 percent of GDP by 2098.
It's mathematically impossible to pay back our debt.
Not me, I take every possible way, to avoid such bullshit burden!
Politicians should pay WTF
The debt will be inflated away
No one will. Dept is great!
35T PLUS all that interest!
Cut defense. Since all these weapons are at least 5 to 10 times over priced and military staff (high level ) seriously overpaid and doing a bad job.
Your grandkids will pay. Not with money, but they will have. Terrible lifestyle
thats what they said about all the spending in ww2, but the following generation thrived
Isn’t it better that government step out of individual’s money problems. If government don’t charge social security and Medicare tax, government don’t have to pay social security and Medicare.
US is just going to kick the chessboard.
The national debt is just a stockpile of government IOU's, just like the dollar. Only difference is one has no interest rate and the other does. They both come from the same printer and paying for the debt is as simple as converting one of those government IOU's to another.
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No one. The whole world just gets crushed and we all loose benefits.
Politicians aren't going to touch Social Security because they value their jobs!!
8133 tons of gold reserves , hi-tech knowledge , oil and some nation building serving attitude, can put things back in shape in time .
It's a wealth/income transfer from tax payers to bondholders. Debt control can be done with re-enacted budget while economy grows.
Can government just step out individual finance and money problems? If government doesn’t charge people social security and Medicare tax, government doesn’t need to pay people social security and Medicare. If government charges people the tax, government has to pay back people. Social security and Medicare are not government’s free money giving to the people, it is the people’s money government held for decades and refund to the people.
As always, middle class will pay the most
Interest rates wont go up in the Future. Govt debt has already approached the military budget.
When he says it IMPOSSIBLE to pay off the debt …….. that’s bankruptcy
No, that's INSOLVENCY.
COMPLETELY DIFFERENT.
If someone has a mortgage and the bank asked them to pay off the balance in a month and they could not, it would not lead to bankruptcy. The REASON is would not lead to bankruptcy is because a bank cannot call for full payment based on the mutually accepted mortgage agreement. The US Federal government has millions and millions of lenders and most do not ability to instantly redeem that debt, via voluntary contractual agreements, by both parties.
@@JohnDoe-lc9yj you can't be insolvent in a currency you create out of thing air. The national debt is just a stockpile of government IOU's, just like the dollar. Only difference is one has no interest rate and the other does. They both come from the same printer and paying for the debt is as simple as converting one of those government IOU's to another.
We have zero chance of paying a penny off. If no, then why havent we started already? the reason we haven't paid a cent against this debt in the past is the same reason we will not pay it off in the future.
The national debt is just a stockpile of government IOU's, just like the dollar. Only difference is one has no interest rate and the other does. They both come from the same printer and paying for the debt is as simple as converting one of those government IOU's to another.
Fed will have to print an unlimited amount of US$ to pay for US Treasury excessive expenditures and repay US Treasury debts
What a bankrupt analysis. The problem is a spending problem, pure and simple-a simple, obvious fact he studiously avoids. Way too easy to mindlessly advocate for soaking the rich or breaking faith with folks who counted on social security and Medicare their entire lives. The people who promote these ideas haven’t a moral clue, nor do they add any value when it comes to illuminating the reserve currency/endless wars/deficit spending that hollows out so much of the rest of the world, leaving us, ultimately, less secure and less wealthy . Almost as if crony capitalists in the tech sector wanted their viewers to remain ignorant, yet for some reason still feel slightly guilty. Please give generously….
More are debt to FED, just write it off. US gov owe themselves money
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Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
Thanks for sharing, I just liquidated some of my funds to invest in the stock market, I will need every help I can get.
Nobody. That ship sailed decades ago.
Every other country in the world that the United States gave money to!
Middle East wars and Israel protection are very expensive.
WHO ALWSYS PAYS CERTAINLY NOT THE AMERICAN CZARS
😢🎉😂🎉❤.. 👉🏻👉🏼👉🏽 America calls it "Liberation" instead of "Invasion". That was what US call it in Iraq, Afghanistan, Libya, Syria, Yemen, Somalia and the list goes on... Why the double standard? Confused... Please enlighten. Genuine question...
Instances of the United States "liberated" or overthrowing, or attempting to overthrow, a foreign government since the Second World War. (* indicates successful ouster of a government)
China 1949 to early 1960s
Albania 1949-53
East Germany 1950s
Iran 1953 *
Guatemala 1954 *
Costa Rica mid-1950s
Syria 1956-7
Egypt 1957
Indonesia 1957-8
British Guiana 1953-64 *
Iraq 1963 *
North Vietnam 1945-73
Cambodia 1955-70 *
Laos 1958 *, 1959 *, 1960 *
Ecuador 1960-63 *
Congo 1960 *
France 1965
Brazil 1962-64 *
Dominican Republic 1963 *
Cuba 1959 to present
Bolivia 1964 *
Indonesia 1965 *
Ghana 1966 *
Chile 1964-73 *
Greece 1967 *
Costa Rica 1970-71
Bolivia 1971 *
Australia 1973-75 *
Angola 1975, 1980s
Zaire 1975
Portugal 1974-76 *
Jamaica 1976-80 *
Seychelles 1979-81
Chad 1981-82 *
Grenada 1983 *
South Yemen 1982-84
Suriname 1982-84
Fiji 1987 *
Libya 1980s
Nicaragua 1981-90 *
Panama 1989 *
Bulgaria 1990 *
Albania 1991 *
Iraq 1991
Afghanistan 1980s *
Somalia 1993
Yugoslavia 1999-2000 *
Ecuador 2000 *
Afghanistan 2001 *
Venezuela 2002 *
Iraq 2003 *
Haiti 2004 *
Somalia 2007 to present
Honduras 2009 *
Libya 2011 *
Syria 2012
Ukraine 2014 *
2014 - 2022 - 9 countries yet to verify.
Pakistan 2022 *
Haiti 2022 *
Israel 2023
US Taxpayers, Who else ?
The rest of the world. No jokes.
The countries that buying their mf shet bonds!
Digital silver in a digital age, litecoin is a digital precious metal, not a security. Litecoin is the oldest coin on the market after bitcoin, since its inception in 2011. Scarcity of litecoin is the key feature of its technology. Everyone tends to flock to digital silver and digital gold, litecoin and bitcoin, when things aren't going well. Litecoin is a decentralized digital commodity, just like bitcoin, but not even close so heavily concentrated in a few hands like bitcoin is. Both have Proof-of-Work consensus, and both have limited supply of coins. Only that litecoin is lighter, swifter, and hugely undervalued against bitcoin. Litecoin (LTC) being a digital commodity provides a decent inflation hedge as well because there will be mined only a limited number of 84 million litecoins in total.
No need to payback....keeping printing and creating conflicts proxy wars, siphon foreign country assets, oils.....😅
Nothing new, print the funds as usual
Who will pay
@moneyman24258 , I think, future children including grandchildren & great grandchildren & beyond, GOD'S willing!
the gov
cut military spending and aid to israel
😅😅😅. It's funny when people think that $35 trillion can be paid back.
Nothing will fix anything. It's mathematical impossible, so please stop pretending that it could be fixed.
Fiat money like the USA dollar had an expiration date. And it's starting to smell
The national debt is just a stockpile of government IOU's, just like the dollar. Only difference is one has no interest rate and the other does. They both come from the same printer and paying for the debt is as simple as converting one of those government IOU's to another.
@@grimaffiliations3671 This can be repeated as many times as you wish, it doesn't refund one cent.
Your moms.
Who? Repeal the Trump tax cut for billionaires/millionaires.
President Trump approved $8.4 trillion of new ten-year borrowing during his full term in office, or $4.8 trillion excluding the CARES Act and other COVID relief.
President Biden, in his first three years and five months in office, approved $4.3 trillion of new ten-year borrowing, or $2.2 trillion excluding the American Rescue Plan.
President Trump approved $8.8 trillion of gross new borrowing and $443 billion of deficit reduction during his full presidential term.
President Biden has so far approved $6.2 trillion of gross new borrowing and $1.9 trillion of deficit reduction.
He seemed to be mixing up Social Security and the national debt which are two separate things. Social Security shortfall just needs an adjustment on the tax rates and limits. For the national debt, a major pullback on government spending will cause a recession. Has happened in the past.
😭😭$40 trillion by end of year! we pay by having worse schools, worse infrastructure, less police, and higher taxes! CUT MILITARY SPENDING BY 70%! we still have the LARGEST MILITARY BY FAR!
We have a far bigger problem than military spending. The deficit is going up $2,000,000 every single minute 24/7's 365. And anyone who knows debt based fiat currencies knows exactly what that means for the future.
@@ace9840 paying for it isnt a problem. The national debt is just a stockpile of government IOU's, just like the dollar. Only difference is one has no interest rate and the other does. They both come from the same printer and paying for the debt is as simple as converting one of those government IOU's to another.
@@grimaffiliations3671 What about the cost of inflation, who pays the interest on all that debt? And the big one how many times has that worked throughout history .. Zero … and you'd be surprised how many debt based fiat currencies there's been in the last 1000 years.
@@ace9840 Taking bonds and exchanging them for dollars isn't inflationary, it's just an asset swap. It's like moving money between your savings account and your check in account. As for the interest, that is paid by rolling over the bonds. They simply create new bonds to pay the interest on old bonds. This process is not inflationary, they rolled over 120,000,000,000,000 worth of bonds in 2021 alone, inflation has only fallen since then.
Yes, there has been many fiat regimes that have failed in the past, just like there has been gold based monetary systems that have failed. But the difference between this fiat system and pervious ones is that the US has a floating exchange rate, and has all of its debt in its own currency. No fiat system has ever failed with those 2 characteristics
@@grimaffiliations3671 Really .. well I completely disagree and I’ve been studying it for a long time. If you do understand the bond market then tell me how the Federal Reserve lost, for the first time ever, $14.3 Billion in 2023? Want to see of it matches what I know. We can disagree because soon we'll know who’s right and who's got it wrong again .. just like in 2008 GFC
war
Russia 😂
In my humble opinion, I believe taxpayers should pay 💰
Remove income cap for paying into SS.
Increase the full retirement age.
Why? Are they going to give us more money when we retire because we paid in more?
@@metalgirl yes, you will receive a larger SS check if you pay more into SS, but you get paid relatively less the larger the benefit. This is how the SS formulas are set up.
In 2024 if you make more than $168,600 you don’t pay SS tax. Removing that cap would put more money into the system from the people that can afford it most and reduce (relatively) their benefit when they receive it.
@@bilo6832How about younger people simply work an extra 2 hours per day?
They are healthier, so they can “afford it”, right?
“From each according to his ability, to according to his need” and all that…….
I think everyone should pay 60% comprehensive flat rate tax with no deductions.
President Trump has a plan that will begin to tackle OUR debt. I believe he can achieve this goal trump is not the norm
Delusional.
He’ll also stop the Ukraine war is a day. 🤥
If Trump is smart, he will put bitcoin on that government balance sheet!!!
Trump has claimed bankruptcy 6 times! He knows nothing about paying off debt! All hot air from Donald Trump on our debt and Ukraine!
President Trump approved $8.4 trillion of new ten-year borrowing during his full term in office, or $4.8 trillion excluding the CARES Act and other COVID relief.
President Biden, in his first three years and five months in office, approved $4.3 trillion of new ten-year borrowing, or $2.2 trillion excluding the American Rescue Plan.
President Trump approved $8.8 trillion of gross new borrowing and $443 billion of deficit reduction during his full presidential term.
President Biden has so far approved $6.2 trillion of gross new borrowing and $1.9 trillion of deficit reduction.