Daily reminder that America was once projected to be debt-free by 2010

[Deleted]

[Travis B]

Since the OP is not capable of posting in the short-term, who is going to pick up the slack on this daily reminder?

[Mittens]

There are very few countries that can actually criticize the USA for its debt. Most if not all of them aren't precisely "developed" countries

[Independent voter]

[PosPosPos]

Moral of the story: modern day republicans are responsible for most of the debt, blames democrats anyway.

[stomination]

Moral of the story: modern day republicans are responsible for most of the debt, blames democrats anyway.

Makes you wonder what it would look like if it went to present day.


And most of our debt is due to multiple wars and multiple social programs that cant fund themselves or be resolved.

[PosPosPos]

Makes you wonder what it would look like if it went to present day.


And most of our debt is due to multiple wars and multiple social programs that cant fund themselves or be resolved.

Wonder who started the war and handicapped social programs so they would produce deficits?

*looks at republicans*

[Kalisandra]

Makes you wonder what it would look like if it went to present day.


And most of our debt is due to multiple wars and multiple social programs that cant fund themselves or be resolved.

And refusal to raise taxes. Don't forget that part.

[Super Friendly Kitty Cat]

Wonder who started the war and handicapped social programs so they would produce deficits?

*looks at republicans*

Pretty sure Democrats backed those wars.

Facts, I know.....

[Nixl]

Are you really going to be reminding us daily? That's some dedication.

[Deleted]

It's impossible for America to ever get out of their debt. It doesn't even really matter tbh.

[Caolela]

It's impossible for America to ever get out of their debt. It doesn't even really matter tbh.

It "doesn't even really matter" as long as the U.S. dollar stays as the world's reserve currency - which is only because oil is sold on world markets in U.S. dollars. If/when it loses that status, like if it were honestly rated to reflect where it should be, then the U.S. economy will be toast.

Henry Kissinger made a deal with the Saudis after Nixon took the U.S. off the gold standard in 1971, which basically said the U.S would always protect S.A. militarily if the Saudis agreed to only sell their oil for U.S. dollars and no other currency, thus making the dollar indispensable no matter how high the U.S. deficit/debt ran or how bad the U.S. economy became.

That's why Saddam Hussein was attacked. Not because he was a "bad guy" since the U.S. had no prob allying with him against Iran in the 80s, but because he was going to get off the dollar for Iraq's oil (2nd largest known oil reserves in the world, behind only Saudi Arabia). Same with Libya, also an oil state and Ghaddafi planned to leave the U.S. dollar and made no secret of it. Same for Venezuela, etc. A'stan and Syria are other examples, not for their oil sales but they are 'pipeline states' because of their geographic location.

The dollar is also artificially propped up on the Comex gold exchange market, where the Fed/central banks routinely dump huge naked short orders (paper gold) on the Comex that drive down the futures price of gold vs. the U.S. dollar; otherwise the price of gold would skyrocket and leave the dollar in the dust, because investors know the dollar is backed by a weak economy.

That's why the U.S can dump so much into military budgets and endless wars, while trying to become the world hegemon. If the dollar had been valuated at its actual level, the U.S. would have had to do things much differently or suffer the consequences of the currency markets.

[Alvito]

By the looks of it Vietnam was damn near free in comparison to other military conflicts. Good news fellas we can finally spin Vietnam as a success!!!

[Zan15]

Yaaawwwwnnnn.

not even a lot of debt relative to the size of our economy.

taking 30-40-50+ years of debt and comparing it to 1 years gdp.



so my 300k mortgage is 300% of my gdp!!

[agentsi]

We had an almost 2 trillion surplus because of the internet boom. When Clinton left the office, we could have paid off the entire national debt, instead Bush gave everyone a "stimulus" package. Then started wars. So, technically, if Bush doesn't do that, pays off the debt, and never starts wars, we would be in much much better shape right now. Obama carried on and spent just as much as Bush, even with the power to stop it, he didn't. Trump is doing the same thing. Go figure.

[Zython]

"4chan Verification required"

Real cutting edge info, pal.

[Molis]

Just like with music and movies we have been going downhill since the 80s

[Deleted]

By the looks of it Vietnam was damn near free in comparison to other military conflicts. Good news fellas we can finally spin Vietnam as a success!!!

You are joking but on at least four separate occassions on this forum alone I've heard in-denial militarists call Vietnam a win.

[stomination]

Wonder who started the war and handicapped social programs so they would produce deficits?

*looks at republicans*

Both sides backed those wars and both sides don't tax to fund those programs. You should probably expand your horizon so that your not stuck bashing only one side.

[Logwyn]

You are joking but on at least four separate occassions on this forum alone I've heard in-denial militarists call Vietnam a win.

Technically on the military side it was a win. On the Political side and Will of the people to keep fighting it was a loss. So that equals a loss in my book.