Econ One Month, Trump Has Reduced Our Debt By...

[dougiemac]

On January 20th — Inauguration Day — the debt was resting at a $19,947,304,555,212.40, or $19,947 billion.

Today, the debt is $19,935,316,186,835.70, or $19,935 billion.

In just one month under the Trump administration, the entirety of the debt has been cut by 0.1 percent ($12 billion — whereas former President Obama grew the debt $200 million in his first month.

Reference: http://thetruthdivision.com/2017/02/u-s-debt-19947304555212-jan-20th-youll-stunned-now/

Reference: http://www.usgovernmentdebt.us/

 

[KGmade]

Nice! Hopefully it continues and it doesnt increase the tax burden

 

[Willy Leadwell]

People act like it can't be done. Not only can it be fixed, it can be fixed with less taxes. We became the most industrious and prosperous nation on earth without a federal income tax.

 

[Strider12]

This happened today and is disturbing.

 

[Bypass]

On January 20th — Inauguration Day — the debt was resting at a $19,947,304,555,212.40, or $19,947 billion.

Today, the debt is $19,935,316,186,835.70, or $19,935 billion.

In just one month under the Trump administration, the entirety of the debt has been cut by 0.1 percent ($12 billion — whereas former President Obama grew the debt $200 million in his first month.

Reference: http://thetruthdivision.com/2017/02/u-s-debt-19947304555212-jan-20th-youll-stunned-now/

Reference: http://www.usgovernmentdebt.us/

Right on.

 

[karlvv]

This happened today and is disturbing.

A lot of us are protectionists. I can see free trade being viable, after borders are secure, spending is reigned in, and welfare goes away.

 

[dougiemac]

People act like it can't be done. Not only can it be fixed, it can be fixed with less taxes. We became the most industrious and prosperous nation on earth without a federal income tax.

True... Russia is set to pay off it's debt this year.

 

[Mac11FA]

Fukn awesome!

 

[Strider12]

A lot of us are protectionists. I can see free trade being viable, after borders are secure, spending is reigned in, and welfare goes away.

You can have closed borders and unencumbered free trade. DR Paul ran on it twice. Protectionist trade raises prices, inflation and causes quick bubbles.

 

[karlvv]

You can have closed borders and unencumbered free trade. DR Paul ran on it twice. Protectionist trade raises prices, inflation and causes quick bubbles.

Probably. I still like the way we did it in the past with tariffs and no income tax. It worked for a long time.

 

[Strider12]

Probably. I still like the way we did it in the past with tariffs and no income tax. It worked for a long time.

We've had an income tax since 1916. How far are you going back?

 

[karlvv]

We've had an income tax since 1916. How far are you going back?

1913 backwards. Things worked pretty well using tarriffs, but we didn't have a huge military or a welfare state. It helped that we produced 90 plus percent of everything we used.

 

[dial1911]

True... Russia is set to pay off it's debt this year.

I haven't heard this before- I'm not doubting you at all, just new information to me.

I'd love to see the US debt free, or at least reverse the dang trend we've been setting.

 

[AirOpsMgr]

So what was the debt in Sep, Oct, Nov & Dec of 2016?

Just curious to see full trends

 

[dial1911]

So what was the debt in Sep, Oct, Nov & Dec of 2016?

Just curious to see full trends

I'm no financial guy by any stretch, but I'd say this recent reduction in debt is heavily related to the record stock market highs. That's basically this country's wealth. Just my two cents... not adjusted for inflation. Because I don't know how to do that.

 

[dougiemac]

So what was the debt in Sep, Oct, Nov & Dec of 2016?

Just curious to see full trends

Dunno. Do the research and let us know.

 

[karlvv]

Dunno. Do the research and let us know.

It was huge. Now it's less huge. I will not be surprised if we hit 30 trillion in the next 8 years. It will all collapse eventually. The collapse is where the huge wealth grabs happen.

 

[dial1911]

Not being an Econ guy, I'd still love to know where all this debt is owed... I mean, the US alone owes some $18 trillion dollars... that means somewhere on earth there are people owed basically the entire US GDP for a year (maybe more, I don't know the real numbers). I feel like it's all some construct. I just don't know for sure who's supposed to win (but the conspiracy theorist in me can certainly guess).

 

[dougiemac]

Not being an Econ guy, I'd still love to know where all this debt is owed... I mean, the US alone owes some $18 trillion dollars... that means somewhere on earth there are people owed basically the entire US GDP for a year (maybe more, I don't know the real numbers). I feel like it's all some construct. I just don't know for sure who's supposed to win (but the conspiracy theorist in me can certainly guess).

China.

 

[dial1911]

China.

That would have been one of my top three guesses. I guess we keep them going by buying their incredibly cheap stuff. And they keep us buying it by loaning the money? I don't know. I'm definitely not trying to say who is right and wrong... just seems like a crazy game on a global scale. It's got to crash back to earth at some point.