Discussion»Statements»Rosie's Corner» Did the US really pay $239 BILLION in interrest on its debt this year? If so is that a good thing or is it horrendous? Why?
Who did they pay the interest to and how much was the original debt....Who do countries borrow from " IMF" ? And where do they get the money from to borrow from....?
Its all a bit beyond me.... The figures are to great and does this money actually exist or is it all just on paper.... It use to be that countries had gold reserves and it was based on that.....but it not now based on that.... Paper money is valueless.....invest in land ,water ,minerals and food crops.... The rest is valueless when push come to shove....Then only water,food and shelter matter....:(
Whomever it was that holds the debt D. When you borrow money from the bank who gets the interest? The US borrows from many countries. Why I do not know. We are allegedly a very wealthy country. If true why do we borrow BILLIONS of dollars from other countries? Makes no sense. Thank you for your reply! :)
This post was edited by RosieG at June 30, 2018 3:49 AM MDT
Yet it doesn't seem to bother anyone that we are being crushed under the weight of our debt. Congress seems to think that increasing the debt ceiling and borrowing more is the answer to getting out of the hole. There's an old saying, "When you find yourself in a hole, stop digging."
In all fairness, Rosie, there are some pretty dumb Democrats, too. I have to admit that the more I hear Nancy Pelosi try and explain something, the more I scratch my head and wonder if there's something not right with her. She stammers and stutters and comes out with something that leaves me shaking my head. I know she is your Senator and I don't mean to disparage her. I'm not an ageist and I am a Democrat, but I think replacing her would be a boost in the arm for the Democrats.
A 28-year-old Democratic Socialist BEAT OUT Joe Crowley who was allegedly in line to replace Pelosi. A ten-term congressman was he and loved by his constituents. Or so everyone thought!! She is a hot patootie. She worked for the election of Bernie Sanders and everyone including her was SHOCKED that she knocked him off so very easily! We need new blood. Pelosi served we the people (Democrats)( long and well but she is long in the tooth and that is the truth of many in the Democratic Party. Now we have our SPLENDID Senator Kamala Harris whom I believe will be a shining star for many years to come. She is way smart and way Liberal and I think she may be in her 40's. We need more like her. I liked Barbara Boxer but she retired as Senator from Cailfornia a few years ago. I like Diane Feinstein and she is VERY OLD but she too has served California well. She was there when Harvey Milk a gay pol and the then-mayor Moscone (sp?) were murdered. Don't know if you remember that. Who will replace her? I don't know but I hope it will be someone who is very smart, very ethical, very dedicated to Democratic principles. Thank you for your reply L! :)
Crowley is in my district so you can imagine how surprised I was to learn about his upset. She shredded him. I'm not unhappy about that, but she does have some far left ideas that I'm not willing to go along with although I do need to look further into some of them. I don't like the idea of guaranteed minimum income for everyone whether you work or not, unless you do away with welfare and food stamps. I agree with you on Kamala Harris and Barbara Boxer. I think it may also be time for Diane Feinstein to retire although she still seems to have her more of her wits about her than Pelosi.
I like her enthusiasm, her youth and her smarts! She worked for Bernie Sanders so her socialist tendencies were utilized then. Dianne Feinstein has served us very well. I think she is in her 80's now and deserves to retire. We'll see who else is out there. It's interesting that California is going its own way vis a vis sanctuary cities and environmental concerns. We are just ignoring the he** outta King don and the destroyers. I think some other Governors are doing likewise! Thank you for your reply L! :)
I just hope the Dems come up with someone who can beat Trump. Four more years of him and we'll have to move to Switzerland. Yes, one of the things I admire about California is that they are on the cutting edge of some good policies and more important, they put them on the ballot to be voted upon by the people. That is something NY doesn't do and I dislike that. NYC is also a sanctuary city and Gov. Cuomo is going his own way when it comes to a lot of environmental issues and other things. I am hoping that most governors realize how damaging Trumps environmental policies are and will decide to do what's best for the planet. Happy Saurday. :)
True....it does not seem to matter which party is in control the debt goes up up up. (Even under Clinton...a supposed surplus...the debt still went up every year???)
It is only used as a attack point for the party not in control.
I think it would be easier to get a balanced budget if there were line item vetos. I dislike it when they put something "must pass" in a budget bill which means the entire bill passes or not. It is high time we worked towards a balanced budget. I doubt we will ever be debt-free, but we can certainly try to curtail the amount of debt we incur.
I agree. I like the line item vetoes. And to keep it constitutional, they can send it back (the line item) to Congress to give them a chance to override it. I believe that is why it was struck down as a power grab by executive branch....so sending it back evens back out the power of the branches.
Nice Jugs 