Virtually NO country operates without 'sovereign debt'...the issue is how much of GDP that debt

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Virtually NO country operates without 'sovereign debt'...the issue is how much of GDP that debt

Author: TyroneIrish (19482 Posts - Joined: Oct 8, 2020)

Posted at 10:54 pm on Apr 14, 2025

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represents...that's our current problem. It's not in a nation's 'interest' (pardon the pun) to seek zero debt. (Google Investopedia to understand why).

Once you appreciate the real issue we can continue this conversation....

btw, note the substantial rises in our national debt in the Chart Image, after 1) Reagan's Tax Cuts...2) Bush's Tax Cuts...3) Obama's Rescue from the "Great Recession"...and 4) Trump's Tax Cuts and Biden rescue from COVID-19 pandemic. Again..........until the GOP learns Economics and accepts Tax Increases on Corps and the Wealthiest Americans. our Debt Crisis is only going to get worse...i.e. the ball is in your group's court.

Link: https://www.investopedia.com/updates/usa-national-debt/

Replies to: "Virtually NO country operates without 'sovereign debt'...the issue is how much of GDP that debt"

GOP budget will add $5 trillion to deficit. Approaching a dangerous line. [NT] [LINK] - conorlarkin - 9:55am 4/11/25 (49) [View All]
- MAGA math: Tax cuts for billionaires, huge tariff sales taxes for everyone else [NT] - ND521 - 12:59pm 4/11/25
- Of course, both parties suck at this. - iairishcheeks - 10:08am 4/11/25
  - OK. Both parties have dug us a hole. How do massive tax cuts close the gap? - conorlarkin - 10:38am 4/11/25
    - We don't have to raise taxes as it is not a revenue problem. - iairishcheeks - 10:45am 4/11/25
      - We need revenue to close the gap. - conorlarkin - 10:54am 4/11/25
        lowering taxes led to more revenue [NT] [LINK] - WestCoastIrishFan - 1:02pm 4/11/25
        
        2019 Budget $4.4T, 2024 Revenue $4.9T. - iairishcheeks - 11:33am 4/11/25
        Given that the Defense Budget for 2019 was $734B it would take draconian cuts [IMAGE] - TyroneIrish - 11:56am 4/11/25
        Cutting from the Discretionary isn't "draconian." - jakers - 2:27pm 4/11/25
        Yeah, probably like 50 years. That's what happens when the budget more than doubles over 10 years. [NT] - iairishcheeks - 3:02pm 4/11/25
        Projected Tax Revenues for this year are >$5T. - jakers - 3:43pm 4/11/25
        In 1965, CEO/Avg Worker Compensation was 21/1...right now the ration is over 340/1...Corps and the [LINK] [IMAGE] - TyroneIrish - 10:47am 4/12/25
        To be clear, I have ZERO problem with moving back to Reagan-era marginal tax rates at the top. [NT] - jakers - 12:57pm 4/14/25
        Clinton's era delivered a budget surplus...why not support his tax increases on Corps and the - TyroneIrish - 10:36pm 4/14/25
        
        Congress gets $4.4T to spend, they have to figure out how to do it. BTW, 2014 was $3T [NT] - iairishcheeks - 12:20pm 4/11/25
        $3.1T is Mandatory + Interest...Revenue = $3.5T...now solve the problem. [NT] - TyroneIrish - 12:39pm 4/11/25
        2024 revenue was $4.9T. [NT] - iairishcheeks - 1:03pm 4/11/25
        You're moving the goal posts, Cheeks ;-)...pick any year you want...just stick with it and we'll - TyroneIrish - 2:04pm 4/11/25
        Yeah, you're not getting this. - iairishcheeks - 2:35pm 4/11/25
        How do you get a $0.5T surplus on $3.5T of income in 2019? [NT] - TyroneIrish - 3:06pm 4/11/25
        Basic math. [NT] - iairishcheeks - 3:29pm 4/11/25
        Show it. [NT] - TyroneIrish - 9:28pm 4/11/25
        Already posted in this thread. [NT] - iairishcheeks - 10:12pm 4/11/25
        I already debunked your math. [NT] - TyroneIrish - 12:07am 4/12/25
        I'm guessing that story problems were an issue for you in school. - iairishcheeks - 6:47am 4/12/25
        Stick with any one year…then itemize each discretionary program being cut…when you’re - TyroneIrish - 9:13am 4/12/25
        It's not 2019 anymore, but we can go back to that budget, get it? - iairishcheeks - 9:24am 4/12/25
        See the attached link...which programs...and how much from each...do you recommend be cut?...this is [LINK] - TyroneIrish - 10:27am 4/12/25
        I get it, you don't believe in cutting any spending. [NT] - iairishcheeks - 11:42am 4/12/25
        You're not a very serious person, Cheeks...are you simply trying to hide and avoid the real world? - TyroneIrish - 6:24pm 4/12/25
        Google "debt spiral", because that's what we're headed for. [NT] - iairishcheeks - 8:55am 4/13/25
        Once the GOP accepts truly Progressive Taxation, we'll be able to resolve our Debt problems... - TyroneIrish - 10:02am 4/13/25
        When's the last time we had no debt, you idiot? - iairishcheeks - 2:35pm 4/13/25
        Virtually NO country operates without 'sovereign debt'...the issue is how much of GDP that debt [LINK] [IMAGE] - TyroneIrish - 10:54pm 4/14/25
  - The Dem Party performed exceptionally well at this...the GOP effort couldn't be worse... [LINK] - TyroneIrish - 10:36am 4/11/25
    - You live in a fantasy world where you think the Gore Commission would be possible now. [NT] - iairishcheeks - 10:46am 4/11/25
      - It took both parties cooperating...only the GOP refuses to do that, so write an email to your Rep - TyroneIrish - 11:17am 4/11/25
        Right, the petulant children with their stupid signs at the address are ready to compromise. [NT] - iairishcheeks - 11:34am 4/11/25
        The only "Petulance" lies with those refusing to increase taxes on Corps and the Wealthy...they - TyroneIrish - 11:39am 4/11/25
        I assume the repetitive 3 dots are tears. [NT] - iairishcheeks - 11:44am 4/11/25
        You can't "Get There From Here" w/o raising taxes on Corps and the Wealthy...admit it. [NT] - TyroneIrish - 11:59am 4/11/25
        Not a revenue problem. [NT] [IMAGE] - iairishcheeks - 1:09pm 4/11/25
        Look at the entire picture, Cheeks...not just one chart with no context... [LINK] - TyroneIrish - 2:31pm 4/11/25
        Your mind virus is acting up again. [NT] - iairishcheeks - 3:01pm 4/11/25
        Having trouble facing reality, I see... - TyroneIrish - 3:22pm 4/11/25
        
        It's a problem that can only be solved with both Revenue increases from Corps and the Wealthiest, as - TyroneIrish - 2:18pm 4/11/25
      - Always. And there was a Republican Congress. [NT] - PaND - 10:49am 4/11/25
        Indeed...filled with Reps who were willing to raise taxes on Corps and the Wealthy, along with Cuts - TyroneIrish - 11:20am 4/11/25
  - Aren’t you special? - [NT] - jimbasil - 10:30am 4/11/25