Religion and Ethics and Health BBS

Religion and Ethics and Health BBS
[ Religion and Ethics and Health BBS ]

US debt hits $40 trillion, proving most Americans don't care about their children's future.

Posted by Ken C on August 20, 2026, 11:02 am

I am angry about this. This is a serious problem. It's quickly getting even worse. Too many people don't even talk about it.

We are leaving this debt for younger generations who are currently too young to even vote on this.

What should we do about it?

In the 1993 Omnibus Budget Reconciliation Act we increased taxes on the rich, then we had the Balanced Budget Act of 1997, then with the help of a strong economy we had a budget surplus in 1998 to 2001. Why can't we do that again?

https://en.wikipedia.org/wiki/Balanced_Budget_Act_of_1997

As US debt hits $40 trillion, Americans will foot the bill: $700 a month for retirees, and homebuyers could take a $53,000 hit

You have that wrong. It's our Pelosian spendthrift government that doesn't care about the future.

Posted by Mondo Fuego™ on August 21, 2026, 9:59 am, in reply to "US debt hits $40 trillion, proving most Americans don't care about their children's future."

The hostile mob of 40,000 muslims in Dearborn Michigan that our government let in, and the millions of illegal criminal aliens that Biden/Harris let in are further proof that our government doesn't care about our future.

We could EASILY reduce the national debt IF we could kill sacred cows.

Posted by DFM on August 21, 2026, 2:01 am, in reply to "US debt hits $40 trillion, proving most Americans don't care about their children's future."

Every governmental program has (or at least had) advocates or it would not exist. To each advocate, the program is SACRED and cannot be diminished. We need a constitutional amendment permitting the President to withhold spending at his/her discretion. Courts have ruled this to be unconstitutional as a breach of Separation of Powers. By adding a Line Item Veto and a Presidential Spending Reduction at Presidential discretion, we could remove this obstacle.

Also, we could add an amendment to permit the Electorate to pass reduction amendments to Federal spending bills by plebiscite.

oh nononono

Posted by trish on August 21, 2026, 5:01 am, in reply to "We could EASILY reduce the national debt IF we could kill sacred cows."

we have already seen how this administration withholds funds from his perceived "enemies"

keep powers separate. that's what they were designed to do.

Do you have a workable alternative?

Posted by DFM on August 21, 2026, 10:55 am, in reply to "oh nononono"

you cannot put too much power in one place - it doesn't lead to anything good

Posted by trish on August 21, 2026, 1:16 pm, in reply to "Do you have a workable alternative?"

TBH at this point it would take a revolution to change the system

Do you mean like our representatives who tend to vote Party Line?

Posted by Cheap Seats Shaman *= on August 21, 2026, 1:24 pm, in reply to "you cannot put too much power in one place - it doesn't lead to anything good"

We haven't had a congress that worked together for a looong time.

true

Posted by trish on August 21, 2026, 2:35 pm, in reply to "Do you mean like our representatives who tend to vote Party Line?"

there is so much pressure to stick to the line.. be it financial, worry about being canclled, trying to appease big money groups..

so much needs to be fixed but findind a simple answer...

Does inflation lower our dedt or raise it ?

Posted by Lucky on August 20, 2026, 4:48 pm, in reply to "US debt hits $40 trillion, proving most Americans don't care about their children's future."

If our money is worth less it would appear our dedt would be worth less

Inflation can reduce the value of debt.

Posted by Ken C on August 21, 2026, 7:25 am, in reply to "Does inflation lower our dedt or raise it ?"

Our debt is rising faster than inflation is reducing the value of a dollar, so it's still a big problem.

https://budgetmodel.wharton.upenn.edu/p/2021-10-21-can-higher-inflation-help-offset-the-effects-of-larger-government-debt/

The problem is not the rich or the wealthy. The profligate Fedetal Government

Posted by GOG on August 20, 2026, 11:51 am, in reply to "US debt hits $40 trillion, proving most Americans don't care about their children's future."

is the cause. States, counties, and cities. They never live within their means. Always floating deficits. The Federal seems to be going for broke, so broke that it is going to create an economic collapse like none other. Taxing the rich over and over just feeds the government addiction. Of course we are all being overtaxed as it is. How about no wars? 20 years in Afghanistan.

We could do away with our dedt if we would open up mining our natural resources.

Posted by Lucky on August 20, 2026, 7:25 pm, in reply to "The problem is not the rich or the wealthy. The profligate Fedetal Government "

Mining can be done wothout environmental damage if care is taken. The trouble is corporations want to cut cost at risks that effect the human race

I will end all wars and inflation on day one No More Wars !

Posted by Lucky on August 20, 2026, 4:26 pm, in reply to "The problem is not the rich or the wealthy. The profligate Fedetal Government "

Too bad that didn’t happen

Question

Posted by BornToFarm on August 20, 2026, 11:42 am, in reply to "US debt hits $40 trillion, proving most Americans don't care about their children's future."

Every year, for at least the past 60 years, the national debt has set a new record. Read that again, every single year without fail, on Sept 30, the date the USA ends a fiscal year, the national debt was a new record high for that date. Even during those years when there was a so-called balanced budget or surplus, the debt stood at a new record when the year ended. Don't take my word for it, look it up for yourself. Here is the official treasury data. https://fiscaldata.treasury.gov/datasets/historical-debt-outstanding/historical-debt-outstanding

I only went back 60 years, but you can go back more.

My question is, how much more in taxes do you think you should pay yearly, to fix this problem? Not the rich people, wealthy people, or the other guy but you. On the other hand, what government programs that affect you, should we cut or eliminate?

Me, I think we should do away with agricultural subsidies. That will save the government money. It will cost me several $1000 per year. It will destroy some farmers bigger than me. But we as farmers will be better off in years to come.

How much more in taxes am I willing pay? Not one red cent. We need a smaller government. I'll take my share of cuts, but the government does not need more of my money to waste on foolish spending.

I'd rather look at "debt-to-GDP ratio "

Posted by Ken C on August 20, 2026, 12:14 pm, in reply to "Question"
Edited by board administrator August 20, 2026, 12:14 pm

Normal inflation makes a dollar worth less, and it makes the dollars in our US debt seem smaller. If inflation goes up while the debt stays the same, then the debt will seem smaller.

If the US population goes up, that means less debt per person, so that would be good.

If our average salaries increase, that means the debt seems smaller compared to our spending power.

So I think it's best to look at the debt-to-GDP ratio: https://en.wikipedia.org/wiki/Debt-to-GDP_ratio

This graph shows how debt-to-GDP ratio decreased from around 1996 - 2001: https://fred.stlouisfed.org/series/GFDEGDQ188S

In old posts, I already mentioned the $9,500 EV rebate California gave me. My EV is fast and fun to drive, but I did not need it. I would have been satisfied with a similar size gas car. That was from California, but it's still a big chunk of money I would have been willing to give up.

Air is clean enough now. We should focus on the debt.

And the future?

Posted by BornToFarm on August 20, 2026, 12:38 pm, in reply to "I'd rather look at "debt-to-GDP ratio ""

That is things that never happened.

Higher taxes for yourself, or fewer benefits?

Most Americans or most politicians?

Posted by Cheap Seats Shaman *= on August 20, 2026, 11:16 am, in reply to "US debt hits $40 trillion, proving most Americans don't care about their children's future."

It's a fine line between Saturday Night and Sunday Morning...🥨

We voted for those people. We can vote them out of office if we don't like what they do.

Posted by Ken C on August 20, 2026, 11:37 am, in reply to "Most Americans or most politicians?"

Maybe politicians are afraid to raise taxes or reduce spending. Maybe they are taking the lazy way out and just passing the debt down to the future. That has been going for too long, and now we are in serious trouble. We need to take action now before things get even worse.

Now reducing spending is even more important than helping the poor, sick or homeless. We need to reduce spending and raise taxes.

Voters need to do more careful research and vote for politicians who can get us out of this debt.

How does one vote out of office the captain and crew of the Titanic?

Posted by GOG:; on August 21, 2026, 6:21 am, in reply to "We voted for those people. We can vote them out of office if we don't like what they do. "

The thing set sail some time ago. There is no way to disembark. Too far gone. Maybe a few can cling to the iceberg. But for the rest I’m afraid we will go down with the ship. I don’t know of anyone who signed onto the debt. But having spent my Covid dividend check, that probably is tacit approval of acceptance.

« Index

[ Religion and Ethics and Health BBS ]