Nation debt will be $20 trillion by 2017.... will it ever stop?

PO3 Private RallyPoint Member — Mon, 02 Nov 2015 09:50:09 -0500

The budget for the next two years had done, so we can actually can project our debt with accuracy ... by the time President Obama step down, we will be facing $20 trillion debt ... I still remember the argument of $14 trillion ... will it ever STOP increasing?

Response by CW2 Private RallyPoint Member made Nov 2 at 2015 9:55 AM

CW2 Private RallyPoint Member — Mon, 02 Nov 2015 09:55:47 -0500

when we run out of China's money

Response by COL Jean (John) F. B. made Nov 2 at 2015 11:02 AM

COL Jean (John) F. B. — Mon, 02 Nov 2015 11:02:40 -0500

PO3 Private RallyPoint Member - No... Not as long as the entitlement party is in power.

Response by LTC John Shaw made Nov 2 at 2015 11:13 AM

LTC John Shaw — Mon, 02 Nov 2015 11:13:40 -0500

Both parties are like drunks when it comes to money and we the public are the gullible enabler.
The spending will not stop until it is the 1) will of the market - No one will lend us more money or 2) the will of the people - not holding my breath.
It has been rare times that we have talked long term debt and it takes a moral conviction that neither party seems to have.

Response by LTC Stephen F. made Nov 2 at 2015 11:28 AM

LTC Stephen F. — Mon, 02 Nov 2015 11:28:16 -0500

I hope it will be begin to be reversed by the next administration and Congress PO3 Private RallyPoint Member. Unfortunately government austerity rarely are received well. I hope and pray that our nation's leaders will see the wisdom of reducing spending levels below tax revenue.

Response by SSgt Alex Robinson made Nov 2 at 2015 12:36 PM

SSgt Alex Robinson — Mon, 02 Nov 2015 12:36:22 -0500

No. Not as long as there are so many freeloaders running around with their hands out. What happened to self reliance?

Response by PO3 Steven Sherrill made Nov 2 at 2015 1:11 PM

PO3 Steven Sherrill — Mon, 02 Nov 2015 13:11:19 -0500

PO3 Private RallyPoint Member National Debt is like Unicorn. It is a magical number that stirs emotions. It is a number that politicians use to scare people about what the other side is doing. As a nation it is sad that we have devolved from a nation of producers to a nation of consumers. Eventually what will happen is the government will step in print trillions of dollars in cash, devalue the dollar, pay off the debt, and leave us screwed by a dollar that is worthless. If you think it is bad now, just wait. Maybe we had to offer up collateral against the debt, then there would be incentive to pay it off. Imagine how fast the debt would be paid if the phrase "you us six trillion dollars, we are taking California until it is paid back." was uttered.
People have a credit rating. That credit rating determines how much above their income they can spend. The credit extended to a person is based on ability to pay it back. A person cannot just simply raise their credit limit because they are broke and need to have more credit to pay on the debt they already have. So why is the government doing that. Why do they say we as citizens need to take responsibility for our financial position when the government's response to fiscal responsibility is more debt. No bad government, no votes for you.

Response by MSgt Curtis Ellis made Nov 2 at 2015 1:36 PM

MSgt Curtis Ellis — Mon, 02 Nov 2015 13:36:06 -0500

Will it ever stop? Eventually... At some point the cost won't have a real meaning...

Response by SCPO David Lockwood made Nov 2 at 2015 2:01 PM

SCPO David Lockwood — Mon, 02 Nov 2015 14:01:15 -0500

Not until we get a group of competent people on the hill who cares about this country and just themselves.