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Broke-ass Yankies admit to $3 trillion defict so far in 2020
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2020-07-22 at 9:54 PM UTC
The federal budget deficit was $2.7 trillion in the first nine months of fiscal year 2020, CBO estimates, $2.0 trillion more than the deficit recorded during the same period last year. Revenues were 13 percent lower and outlays were 49 percent higher through June 2020 than during the same nine-month period in fiscal year 2019.
https://www.cbo.gov/publication/56458
CBO is the Congressional Budget Office. It's fiscal years run from October 1 to September 30.
https://www.usdebtclock.org/
How much longer can such a broken country keep borrowing and spending? -
2020-07-22 at 10:04 PM UTCAs long as the world continues to use the petrodollar, forever.
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2020-07-22 at 10:06 PM UTCNo
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2020-07-22 at 10:19 PM UTCThis post has been edited by a bot I made to preserve my privacy.
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2020-07-22 at 10:21 PM UTCThat was back when a trillion dollars was a lot of money.The following users say it would be alright if the author of this post didn't die in a fire!
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2020-07-23 at 5:14 AM UTCThat debt can all be erased with the stroke of a pen.
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2020-07-23 at 8:22 AM UTC
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2020-07-23 at 1:31 PM UTC
Originally posted by Greek Style If the debt goes so does America's ability to run a deficit.
America only ran a deficit one twice in its history before 1914. Once after the Revolutionary War and once after the Civil War. Both times those debts were paid off.
The Federal Reserve is the sole cause of the US debt. One stroke of the pen can solve that.
You should learn how money and central banks really work. -
2020-07-23 at 4:34 PM UTC
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2020-07-23 at 4:36 PM UTC
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2020-07-23 at 7:37 PM UTC
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2020-07-23 at 8:13 PM UTC
Originally posted by Speedy Parker You just spew words…
holly shittt. you really habe no idea how these debts are being funded
do you.
due to USD's status as reserve currency "investors", which are nothing but money lenders assume USD as a safe heaven asset lend their monies to the US by buying US bonds and notes.
thats where all your monies came from when your government decides to borrow itself monies. once you cancell your debts and goes default on them with the stroke of a pen, your essentially rendering these investors' investment worthless.
and when investing in USD and dollar denominated debts are no longer safe ..... they pull out,
your an idiot. -
2020-07-23 at 11:28 PM UTC
Originally posted by vindicktive vinny
holly shittt. you really habe no idea how these debts are being funded
do you.
due to USD's status as reserve currency "investors", which are nothing but money lenders assume USD as a safe heaven asset lend their monies to the US by buying US bonds and notes.
thats where all your monies came from when your government decides to borrow itself monies. once you cancell your debts and goes default on them with the stroke of a pen, your essentially rendering these investors' investment worthless.
and when investing in USD and dollar denominated debts are no longer safe ….. they pull out,
your an idiot.
You just demonstrated you have zero knowledge. -
2020-07-24 at 12:36 AM UTC
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2020-07-24 at 2:21 AM UTChttps://boards.4chan.org/pol/thread/268710050
interesting thread on the subject
actually I'll reformat it hold onThe following users say it would be alright if the author of this post didn't die in a fire! -
2020-07-24 at 2:41 AM UTCITT: Retards do not understand how the deficit works
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2020-07-24 at 2:42 AM UTC
Originally posted by Greek Style https://www.usdebtclock.org/
How much longer can such a broken country keep borrowing and spending?
^ Doesn't understand how the national debt is serviced or the deficit is financed. -
2020-07-24 at 3:53 AM UTC
Originally posted by vindicktive vinny ok, tell us your version of what and how it actually works.
go ahead.
All I am going to tell you is this. The only reason any modern currency backed by a central bank has value is that you can pay your taxes with it. It is fiat currency and has no real value. Chew on the significance of that young turdhopper. -
2020-07-24 at 3:57 AM UTC
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2020-07-24 at 3:59 AM UTCI used to be able to buy three burgers, 5 cokes and a bag of jawbreakers for only half a trillion when I was a youngin like you.
