Actscelerate.com

FLRon

Unsustainable spending

Acts-celerater Posts: 775 **10/18/23 6:32 am**

Is the United States reaching the point where we will no longer be able to sustain the current levels of financial support to other countries? In Ukraine alone for example, we have provided over 75 Billion dollars in military and humanitarian assistance since their war with Russia began.
https://www.cfr.org/article/how-much-aid-has-us-sent-ukraine-here-are-six-charts

Now, with what looks to be a long war between Israel and the Palestinians unfolding, Billions more will be sent to Israel.

Considering we as a nation are over 33 Trillion Dollars in debt and we are recklessly spending ourselves into insolvency, my question is this: if we have to reduce or eliminate spending in certain areas to stave off bankruptcy, should we reduce spending on military aid to other nations or cut domestic programs?
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“Hell will be filled with people that didn’t cuss, didn’t drink, and may even have been baptized. Why? Because none of those things makes someone a Christian.”
Voddie Baucham

Cojak

01000001 01100011 01110100 01110011 Posts: 24278 **10/18/23 9:36 am**

Reduce both. I hear and read the rhetoric from both parties, how the other party WASTES money. Only a blind person would say EITHER side manages well.

Sadly to say with all the GOP yelling and I am a conservative, looking back Bill Clinton is the last to balance a budget. I mention that and my sons come back, but he had a GOP congress. YES, but it was still balanced. Right now the congress is in shambles.

All that said, we need control on spending, all round.

I see nor hear any solid plans from either side except trying to destroy each other, the heck with the country.

I despise the 'GET EVEN' attitude of the vocal GOP and the ignorance of the Biden admin. I am sure we have some good social programs and of course some super wasteful ones.

I do think the oil pipeline would help our economy some if we limited the exports.... my 1.5 cents worth.
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Some facts but mostly just my opinion!
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sheepdogandy

Hon. Dr. in Acts-celeratology Posts: 7301 **10/18/23 12:56 pm**

To whom does the government owe this money?

What are the consequences of default?

Who will demand payment and what entity will enforce?

Just wondering....... Rolling Eyes

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Charles A. Hutchins
Senior Pastor SPWC
Congregational Church of God

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FLRon

Acts-celerater Posts: 775 **10/18/23 1:45 pm**

According to this site https://www.investopedia.com/articles/markets-economy/090616/5-countries-own-most-us-debt.asp, 5 nations hold the largest amounts of U.S. treasury notes. Japan and China top the list. The U.S. Treasury department holds another 5 trillion of our debt and keeps it off the books.

Still, there remains over 20 trillion dollars of debt that is hard to track down.
_________________
“Hell will be filled with people that didn’t cuss, didn’t drink, and may even have been baptized. Why? Because none of those things makes someone a Christian.”
Voddie Baucham

Nature Boy Florida

Acts-pert Poster Posts: 16621 **10/18/23 2:07 pm**

Too much debt is the Republicans "climate change".

We keep hearing how bad it is - since Reagan spent 250 million over what we took in one year - but nothing has changed.

Then it turned into billions.
Then it is over a trillion.

It doesn't seem to matter. (On paper it seems like it should - but it doesn't).

You can't cry wolf for 40 years and expect anyone to take it seriously.

And you sure can't campaign on cutting spending anymore - its turned into it's own "Inconvenient Truth". Nothing but a joke.
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Whether you like it or not, learn to love it, because its the best thing going today!

Cojak

01000001 01100011 01110100 01110011 Posts: 24278 **10/18/23 3:12 pm**

As of January 2023, the five countries owning the most US debt are Japan ($1.1 trillion), China ($859 billion), the United Kingdom ($668 billion), Belgium ($331 billion), and Luxembourg ($318 billion).

Most of the rest owed is the American citizens, US bonds etc methinks. We owe ourselves. The ones who believed in the government the most by investing, will be hurt. At one time in my life I bought a $100 bond each month. About mid point the interest rates changed and did not continue at the rate borrowed. Dummy me cashed in the ones who held their 10% a year interest, shoulda kept them. LOL Well maybe, maybe not.
Anyway we owe ourselves most of the national debt. Depression would be the result of not paying, I think.
_________________
Some facts but mostly just my opinion!
jacsher@aol.com
http://shipslog-jack.blogspot.com/

Aaron Scott

The only thing that will work, I think....

Hon. Dr. in Acts-celeratology Posts: 6032 **10/19/23 9:16 am**

It's not enough to just lower the amount of money we are spending in deficit spending. That like the Titanic going down, but someone stopping a pencil-sized leak and thinking it matters.

No, there has to be something a whole lot more powerful: A one-and-done repayment...AND NO MORE DEFICIT SPENDING AT ALL.

One and done, how? Sell Hawaii? Alaska? Guam? Create some ultimate renewable energy source and sell it to the world?

OR, better....

A global jubilee. All debt is erased. This has to be debt that has been on your books for some time, not debt acquired so you could take advantage of a jubilee.

If I owe $1000, and someone owes me $500, then I am down $500 after all debt is erased. In such cases, there should be some sort of tax method to allow me to recoup the $500 in tax dollars and/or avoid paying that in taxes.

I cannot think of any way that we can remotely get out of this in multiple lifetimes otherwise. Well, there is one more way....

WAR. We go to war, sell the defeated country for parts (or the cancellation of any debt we owe them). Just a thought.

UncleJD

Golf Cart Mafia Consigliere Posts: 3144 **10/23/23 10:45 am**