Misc: Boris Becker going to prison

[VeloClone]

Well the Federal Government’s total debt is 31-ish trillion, but US household income is over 150 trillion. Also Americans age 70 and older had a total net worth of more than 35 trillion as of the middle of last year. So not exactly as dire a situation as Boris is facing.

The Federal Government has access to all US household income?

The point he was making is Boris was spending more than he was taking in consistently and borrowing to cover the difference.

The US deficit (not debt, deficit) in 2021 was $1.4 trillion. It hasn't been below $1.2 trillion since 2017 and hasn't been below $300B since 2001. At some point you actually have to pay off those debts but you never will if every year you spend (significantly) more than you take in.

I won't say anymore about it to keep this out of the cave. It shouldn't be a cave issue since all political bents are to blame. Nobody in Washington seems at all concerned about the ever increasing debt.

 

[TClone99]

The Federal Government has access to all US household income?

The point he was making is Boris was spending more than he was taking in consistently and borrowing to cover the difference.

The US deficit (not debt, deficit) in 2021 was $1.4 trillion. It hasn't been below $1.2 trillion since 2017 and hasn't been below $300B since 2001. At some point you actually have to pay off those debts but you never will if every year you spend (significantly) more than you take in.

I won't say anymore about it to keep this out of the cave. It shouldn't be a cave issue since all political bents are to blame. Nobody in Washington seems at all concerned about the ever increasing debt.

I’m just saying we could most certainly solve our debt problem if we put our minds to it. Our politicians choose not to.