It’s wild that we are told our entire lives about how debt works and threatened with collections and bankruptcy etc etc. Yet our govt cannot seem to do the same thing.
Parking_Lot_47 on
The path US debt has been on is kinda old news. And the lack of noticeable consequences so far vs the hyperbolic rhetoric for decades feels to the public like crying wolf.
And then there’s the people who don’t give af about the debt if it’s to cut taxes for the rich.
Losalou52 on
“Yellen was overwhelmingly confirmed by the Senate, then was instrumental in pushing Congress to approve $1.9 trillion in Covid relief spending, on top of the historic $4 trillion the government had already authorized.”
Yellen said a a big reason we are where we are. Hilarious that NOW she is raising the alarm.
No_Bend_2902 on
Because Republicans are making the debt go up, so nobody can talk about it now.
kennykerberos on
Because you can’t win elections running on reducing the national debt. You’ll have to cut spending and programs, with outcries from those getting free stuff. “You’re a racist!” “You hate kids!” “You hate seniors!”
It’s a non-starter. Onward we go until a financial crisis stops it.
One bright spot is that maybe all the recent attention to fraud could have a positive impact on reducing spending. Up to $1.5T in fraud a year? We will see how it goes…
Redd868 on
The tipping point is servicing the interest on the debt, and gold and silver tells me, they’ve reached that tipping point and that they’ll be resorting to print and spend, otherwise called “quantitative easing”.
LowRize64 on
If you want to get Obama care subsidies started again no one can act like they are worried about the debt.
Darksmithe on
Trump is dictating what is ok for the news to print. Didn’t you get the memo?
Chemical-Ebb6472 on
My take is that many journalists put significant effort into years of anti-Trump reporting in an attempt to ensure he never takes power again, even after Mitch placed party over country and refused to complete the Trump impeachments using the remedy that our Constitution provided.
They then saw a majority of the country put him back into power anyway. Even if Musk messed with the vote tallies to put him over the top, it was easy to see that there was a clear, strong, current of support for Trump’s second election from all ages in the US.
They, like many other professionals (including a good chunk of us in the global finance world who would never provide him credit), warned against the danger a second term for him would bring without the same old school, republican, guardrails that limited him in round 1, to our country (and world), but the people told us to fuck off, liked to watch him dance the jerk on stage, and returned him to office.
So now they also say fuck it, give the people’s majority what they want – and a normalized Trump is what they wanted.
miagi_do on
Because no one in DC cares about the national debt. Everyone would either rather pay less in taxes or spend more.
The debt is infinitely able to be inflated away, it’s a red herring argument. Big number bad yes, big number also fake. The TED talk “Do We Love Our Children” also exposes our current debt ecosystem.
RaggedMountainMan on
Because it’s the debt is a wealth transfer from the working class to the capitalist class. Most news media are cheerleaders for the stock market, capitalism, steady inflation, etc.
Own_Vermicelli_302 on
We just stumbled on 17 trillion of oil, debt is old news
wrestlingchampo on
US only cares about the debt when Democrats are in power. Been that way for decades.
Ok-Proposal-4987 on
It only matters if a Dem is president and the American people are getting help.
If corporations are making money and the deficit is going up then there is no need to report it.
Bimlouhay83 on
The Republicans only care about debt even a Democrat is in office.
wraithius on
The biggest chunks of government spending are Social Security (22%), Debt Interest (15%), Medicare (15%), Medicaid and other health care (14%), National Defense (14%), Income Security (8%), Veterans (5%). Everything else is in the remaining 7%. Source [treasury fiscal report by the current administration](https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/)
You’d guess based on fiscal responsibility that Congress and the President would be focusing on the 93%, right? No, they’re going after minor parts of the 7% fitting into _other_. The last surplus we had was during Clinton when he and Congress significantly trimmed back National Defense, amongst other tough line items. 9/11 happened a few years later and juiced military spending for the next two decades until present. Doge and pony shows aren’t going to get us out of this.
Journalists I listen to talk about this.
Comfortable_City1892 on
You can see below it went up nearly 50% during Covid and they never cut it back because government always increases the budget.
2018
~$4.1 trillion
Wikipedia
2019
~$4.4 trillion
Wikipedia
2020
~$6.5 trillion
Wikipedia
2021
~$6.8 trillion
Wikipedia
2022
~$6.3 trillion
Wikipedia
2023
~$6.1 trillion
Wikipedia
2024
~$6.75 trillion
Wikipedia
2025 (estimate/ projection)
~$6.8 trillion+ (budgeted)
Comfortable_City1892 on
It will not change. We are 10 trillion more in debt than we should be. They never cut back to normal after COVID spending mania.
ClassicT4 on
Rafael Cruz gave the game away years ago. A reporter asked him why they only care about the debt when a Democrat is in charge and he just responded with a super smug look on his face and a shrug and basically said, “yup, we do that.”
coskibum002 on
Journalists focusing on anything bad in our country?
Never!
All bought, controlled, and bullied by Trump.
Kakashi6969 on
Janet yellen made it worse when she was treasury secretary
22 Comments
It’s wild that we are told our entire lives about how debt works and threatened with collections and bankruptcy etc etc. Yet our govt cannot seem to do the same thing.
The path US debt has been on is kinda old news. And the lack of noticeable consequences so far vs the hyperbolic rhetoric for decades feels to the public like crying wolf.
And then there’s the people who don’t give af about the debt if it’s to cut taxes for the rich.
“Yellen was overwhelmingly confirmed by the Senate, then was instrumental in pushing Congress to approve $1.9 trillion in Covid relief spending, on top of the historic $4 trillion the government had already authorized.”
Yellen said a a big reason we are where we are. Hilarious that NOW she is raising the alarm.
Because Republicans are making the debt go up, so nobody can talk about it now.
Because you can’t win elections running on reducing the national debt. You’ll have to cut spending and programs, with outcries from those getting free stuff. “You’re a racist!” “You hate kids!” “You hate seniors!”
It’s a non-starter. Onward we go until a financial crisis stops it.
One bright spot is that maybe all the recent attention to fraud could have a positive impact on reducing spending. Up to $1.5T in fraud a year? We will see how it goes…
The tipping point is servicing the interest on the debt, and gold and silver tells me, they’ve reached that tipping point and that they’ll be resorting to print and spend, otherwise called “quantitative easing”.
If you want to get Obama care subsidies started again no one can act like they are worried about the debt.
Trump is dictating what is ok for the news to print. Didn’t you get the memo?
My take is that many journalists put significant effort into years of anti-Trump reporting in an attempt to ensure he never takes power again, even after Mitch placed party over country and refused to complete the Trump impeachments using the remedy that our Constitution provided.
They then saw a majority of the country put him back into power anyway. Even if Musk messed with the vote tallies to put him over the top, it was easy to see that there was a clear, strong, current of support for Trump’s second election from all ages in the US.
They, like many other professionals (including a good chunk of us in the global finance world who would never provide him credit), warned against the danger a second term for him would bring without the same old school, republican, guardrails that limited him in round 1, to our country (and world), but the people told us to fuck off, liked to watch him dance the jerk on stage, and returned him to office.
So now they also say fuck it, give the people’s majority what they want – and a normalized Trump is what they wanted.
Because no one in DC cares about the national debt. Everyone would either rather pay less in taxes or spend more.
https://youtu.be/gqtrNXdlraM?si=VD5NURqnRTK4KuJp
The debt is infinitely able to be inflated away, it’s a red herring argument. Big number bad yes, big number also fake. The TED talk “Do We Love Our Children” also exposes our current debt ecosystem.
Because it’s the debt is a wealth transfer from the working class to the capitalist class. Most news media are cheerleaders for the stock market, capitalism, steady inflation, etc.
We just stumbled on 17 trillion of oil, debt is old news
US only cares about the debt when Democrats are in power. Been that way for decades.
It only matters if a Dem is president and the American people are getting help.
If corporations are making money and the deficit is going up then there is no need to report it.
The Republicans only care about debt even a Democrat is in office.
The biggest chunks of government spending are Social Security (22%), Debt Interest (15%), Medicare (15%), Medicaid and other health care (14%), National Defense (14%), Income Security (8%), Veterans (5%). Everything else is in the remaining 7%. Source [treasury fiscal report by the current administration](https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/)
You’d guess based on fiscal responsibility that Congress and the President would be focusing on the 93%, right? No, they’re going after minor parts of the 7% fitting into _other_. The last surplus we had was during Clinton when he and Congress significantly trimmed back National Defense, amongst other tough line items. 9/11 happened a few years later and juiced military spending for the next two decades until present. Doge and pony shows aren’t going to get us out of this.
Journalists I listen to talk about this.
You can see below it went up nearly 50% during Covid and they never cut it back because government always increases the budget.
2018
~$4.1 trillion
Wikipedia
2019
~$4.4 trillion
Wikipedia
2020
~$6.5 trillion
Wikipedia
2021
~$6.8 trillion
Wikipedia
2022
~$6.3 trillion
Wikipedia
2023
~$6.1 trillion
Wikipedia
2024
~$6.75 trillion
Wikipedia
2025 (estimate/ projection)
~$6.8 trillion+ (budgeted)
It will not change. We are 10 trillion more in debt than we should be. They never cut back to normal after COVID spending mania.
Rafael Cruz gave the game away years ago. A reporter asked him why they only care about the debt when a Democrat is in charge and he just responded with a super smug look on his face and a shrug and basically said, “yup, we do that.”
Journalists focusing on anything bad in our country?
Never!
All bought, controlled, and bullied by Trump.
Janet yellen made it worse when she was treasury secretary