As the corporatist monstrosity known as the USA slowly grinds towards collapse, yet another dark milestone is passed. The US federal debt is now over $20 trillion.
This is addition to the approximate $120 trillion in unfunded liabilities.
Loving big government as usual, Tantrum Trump, siding with the Democrats, just raised the debt ceiling, and even made a gentleman’s agreement with them to actually abolish the debt ceiling altogether. $30 trillion, here we come!
$20 trillion in debt. Let me remind you that the GDP of the entire US is $18.5 trillion. Isn’t that nice?
Some are saying that we have to raise the debt ceiling, since we have to pay our bills. No, idiots. The fact we keep borrowing money means we aren’t paying our bills. If we were actually paying our bills, we wouldn’t keep having to increase our debt and borrow more money.
Others are saying all that this debt is just fine since we “owe it to ourselves.” What happens to the US dollar long-term then? If that’s really true, why don’t we just print enough money to hand everyone $100,000 every year on January 1st? Stupid.
By the way, one-third of that $20 trillion is not to “ourselves” at all, but to foreign nations. What happens when they start refusing to keep lending us money? Collapse, or something close to it.
Think about this for a minute: it took us 231 years to get to $10 trillion in debt. It took just 11 years to get to $20 trillion. As of this moment, we’re already 16% of the way beyond that to $30 trillion (we’re $20.16 at trillion already). We should be at $30 trillion in no time (particularly with single-payer health care looming over us in the next decade or so).
Goodbye, America. You were great while you lasted.