US Credit Rating Downgraded

[elkhunter11]

The American voters wanted Biden, and now he has brought them a historic downgrade in the US credit rating.

[tirebob]

To be fair, the US has been heading down to this point for quote a while now through multiple presidents on both sides of the house. Biden was just the nail in the coffin.

Now this said, that guy can go away already lol!

[Sundog57]

The US has been running deficits and increasing its national debt pretty much forever.
The following info downloaded of the net so take it as you will.
Not sure where Biden fits into the mix but with surprising exception of Bill Clinton, profligate spending seems to be the norm.
Interestingly the worst offenders seem to be "conservative" Republicans

President Donald Trump
Total Actual plus Budgeted = $6.612 trillion, a 33% increase

President Barack Obama
Total = $6.781 trillion, a 58% increase

President George W. Bush
Total = $3.293 trillion, a 57% increase

President Bill Clinton
Total = $63 billion surplus, a 1% decrease

President George H.W. Bush
Total = $1.036 trillion, a 36% increase

President Ronald Reagan
Total = $1.412 trillion, a 142% increase

[Grizzly Adams1]

Originally Posted by Sundog57

The US has been running deficits and increasing its national debt pretty much forever.
The following info downloaded of the net so take it as you will.
Not sure where Biden fits into the mix but with surprising exception of Bill Clinton, profligate spending seems to be the norm.
Interestingly the worst offenders seem to be "conservative" Republicans

President Donald Trump
Total Actual plus Budgeted = $6.612 trillion, a 33% increase

President Barack Obama
Total = $6.781 trillion, a 58% increase

President George W. Bush
Total = $3.293 trillion, a 57% increase

President Bill Clinton
Total = $63 billion surplus, a 1% decrease

President George H.W. Bush
Total = $1.036 trillion, a 36% increase

President Ronald Reagan
Total = $1.412 trillion, a 142% increase

No bank would loan one of us a nickel with a record like that.

Grizz

[fishtank]

Just start the printing press …..problem solved.

[Drewski Canuck]

No US Citizen will notice UNTIL the Interest rates go up significantly AND the taxes start rising to pay the debt, and NOT Government services.

The US is a funny place. Everyone takes from the Government without understanding that they are the Government.

Grand standing virtue signalling agendas are gobbled up by the Voters, without any thought as to what it will actually cost them, or why someone is pushing a tax payer funded agenda.

Drewski

[Grizzly Adams1]

Originally Posted by Drewski Canuck

No US Citizen will notice UNTIL the Interest rates go up significantly AND the taxes start rising to pay the debt, and NOT Government services.

The US is a funny place. Everyone takes from the Government without understanding that they are the Government.

Grand standing virtue signalling agendas are gobbled up by the Voters, without any thought as to what it will actually cost them, or why someone is pushing a tax payer funded agenda.

Drewski

They're already borrowing to pay for government services, it's only a matter of time before that hit's home.

Grizz

[Twisted Canuck]

Originally Posted by Drewski Canuck

No US Citizen will notice UNTIL the Interest rates go up significantly AND the taxes start rising to pay the debt, and NOT Government services.

The US is a funny place. Everyone takes from the Government without understanding that they are the Government.

Grand standing virtue signalling agendas are gobbled up by the Voters, without any thought as to what it will actually cost them, or why someone is pushing a tax payer funded agenda.

Drewski

So, like Canada then.

[fordtruckin]

Originally Posted by Twisted Canuck

So, like Canada then.

Exactly!

[sns2]

No argument on any of it. No party holds the title any longer. World events influence these figures to the extent that it would be hard to notice partisanship to see if there is a pattern (Afghanistan, Iraq, and now Ukrainian wars; global recession caused by sub prime mortgage crisis, and any number of things where gov’t are forced to simply reactionary spending).

The world is kinda getting ripe for a Great Reset methinks.

[Sundog57]

Originally Posted by sns2

The world is kinda getting ripe for a Great Reset methinks.

And maybe of a slightly different flavour than forseen/desired by the WEF

[sns2]

Originally Posted by Sundog57

And maybe of a slightly different flavour than forseen/desired by the WEF

Something will eventually have to happen. I vote it will be the Uber wealthy who dictate the terms to govts. It will be such a collapse that a world digital currency and bank will be the obvious solution.

Sent from my Pixel 6 using Tapatalk

[elkhunter11]

Originally Posted by Twisted Canuck

So, like Canada then.

Both Canada and the USA let in illegal immigrants, hand them money, and the taxpayers get the bill.

[Bushrat]

Originally Posted by sns2

I vote it will be the Uber wealthy who dictate the terms to govts. It will be such a collapse that a world digital currency and bank will be the obvious solution.

Sent from my Pixel 6 using Tapatalk

The uber wealthy already are dictating terms, placing their 'appointees' in strategic government positions and we wonder why politicians are doing some of the things they are doing. They are actively orchestrating the upcoming worldwide economic collapse. Destabilizing social function with the 'Woke" Sodom and Gomorrah social mores they are pushing and people are buying in. When we reach a point we can't function economically and socially they will seize the opportunity to step in and 'correct it' their way. It's already happening. They will tax and trap the middle class further into a poverty and debt oblivion. By then we desperate peasants will welcome it, we will owe our souls to the company store.. so to speak