Woody
Well-Known Member
If we never had another cent of deficit spending our debt would still grow about .5 trillion a year. The average interest rate on our debt is low right now, rising rates will increase that cost.I think I'd stay with the US Treasury numbers. Here's the debt on Trumps inauguration day and the debt end of yesterday... 3.2 trillion
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This topic usually comes up to show that my guy is better than your guy. The reality is that in the last 75yrs, with the exception of a few, it doesn't matter who it was or what party...Washington has consistently spent more than they take in and now we got what we got.
Sure, at any point might different politics have shrunk those deficits? I think so and just as often might make them larger. I think the most likely thing would be they'd still remain deficits.
Deficit for this year will be about 1.1T(1T+ future deficits look to be the norm), cost of servicing the debt about .5T. Would it even be possible to change our ways to the tune of 1.6T and prevent the total debt from growing?