What would a 16 billion payment on 20 trillion of debt do?

[97guns]

I just read Trump wants to sell off 1/2 the strategic oil reserve for around 17,000 billion and put it towards the national debt, what is that really gonna do, it is literally a drop in the bucket.

To put it in perspective, It's equivalent to throwing $17,000 at 20 million of debt

[Thrif-t]

Well it's a something. Should we just keep ignoring it and never try to pay it down?

I don't understand the logic when people think some money isn't enough to throw at a debt.

[TexasHusker]

Let's just print more money and pay the debt off.

[disneysteve]

Well it's a something. Should we just keep ignoring it and never try to pay it down?

I don't understand the logic when people think some money isn't enough to throw at a debt.

Sure, it's better to pay something toward a debt than nothing, but you need to look at the cost of what you're doing.

We could sell off the National Parks to real estate developers in order to raise money to pay off the debt? Do you think that's a good idea? We could start selling admission tickets to all of the National historic sites that are currently free. How about that? What about auctioning off historic documents in the National Archives or artwork in the National galleries? We could raise tens of millions of dollars, but that doesn't mean it's a good idea.

[greenskeeper]

Have not heard of the oil reserve sell off, but TRUMP's budget definitely puts the truth out there that we're broke and have to make significant changes.

[TexasHusker]

Austerity is in order.

[Singuy]

Have not heard of the oil reserve sell off, but TRUMP's budget definitely puts the truth out there that we're broke and have to make significant changes.

Not broke enough to increase spending on the military and massive cut taxes.

The budget at best is revenue neutral..you'll be kidding yourself if you think Trump and the Republican party is serious about our national debt.

The democratic party wants to increase spending and increase taxes.
The Republicans want to decrease spending and decrease taxes.

Not one party wants to cut spending and increase taxes...so this just tells me no one gives a crap about the national debt.

[disneysteve]

The democratic party wants to increase spending and increase taxes.
The Republicans want to decrease spending and decrease taxes.

I don't even think this is accurate. Both parties want to increase spending, just in different places.

[Singuy]

I don't even think this is accurate. Both parties want to increase spending, just in different places.

Well when it comes to actual #...the Republican party wants to cut entitlement spending which is more than 50% of our budget..nothing holds a candle to this massive amounts of money. Lets say if they want to increase military spending by 50%..that is still a small fraction of what entitlement cost. A Republican's wet dream would be to completely cut entitlement spending so we can decrease taxes to the teens for our upper brackets.

[greenskeeper]

Not broke enough to increase spending on the military and massive cut taxes.

The budget at best is revenue neutral..you'll be kidding yourself if you think Trump and the Republican party is serious about our national debt.

The democratic party wants to increase spending and increase taxes.
The Republicans want to decrease spending and decrease taxes.

Not one party wants to cut spending and increase taxes...so this just tells me no one gives a crap about the national debt.

what a Lauffer

[clatoden99]

The United States of America has far more debt than that. The current total is around $44 trillion of which around $17.5 trillion is government debt. Since the US government is legally entitled to create as much money as it wishes whenever it wishes via the US Mint, the only way that it will not repay its debt is if Congress deliberately decides that it will not. That is of course entirely possible but it would be a political decision, not a financial one, so there is no great need to reduce the government debt.

[97guns]

The United States of America has far more debt than that. The current total is around $44 trillion of which around $17.5 trillion is government debt..

Every country is in debt and has their books cooked as well, the worlds financial health is extremely sickly

[rennigade]

If the united states government can create money out of thin air...then what is debt to them?

Money is no longer backed by anything...agreed? So when you print money its not debt. When it comes to the government its fake...there is no debt. Its another brainwashing technique they use (successfully I might add) to manipulate people and change things that will benefit very few.

Its time to wake up people...if money isnt backed by anything...can be printed whenever the government wants...its not debt. The government isnt going to pay back itself...it doesnt have to.

[greenskeeper]

If the united states government can create money out of thin air...then what is debt to them?

Money is no longer backed by anything...agreed? So when you print money its not debt. When it comes to the government its fake...there is no debt. Its another brainwashing technique they use (successfully I might add) to manipulate people and change things that will benefit very few.

Its time to wake up people...if money isnt backed by anything...can be printed whenever the government wants...its not debt. The government isnt going to pay back itself...it doesnt have to.

Money is debt (read the front of any bill)