US debt reaches $37 trillion years before expected

"Let's run the country like a business!" Also, "let's cut our revenue by the most ever seen in history".

Our debt is going up! (surprised Pikachu face)

This is the liberals fault!

No business owner would voluntary cut their revenue. They're not businessmen, they're con artists turned tyrants.

all he ever known is laundering russians for thier money, through his casinos, using investors money than bankrupting to avoid any lawsuits against himselfs, or drown the opposition(the sue-r in so much shit) they cant fight them anymore.
- (you're probably looking for "plaintiff")
Well he is running it like a business hrs got ng yo bankrupt the country.
Make America Grim Again

i thought we were going to doge that bullet

The secret is Trump will debase our currency to the point where a hotdog stand charges a million dollars for a can of soda. Then our debt will be relatively meaningless and easy to pay off.
- I really hate that so much in US politics right now reminds me of 1930's Germany
- all this really benefits putin, if usa is weakened economically, and constantly infighting, they wont have a chance of defending russians goals of expansions.
- "300 buys you a sandwich."
  https://www.youtube.com/shorts/8AMsq8fCzhg
- Not if he keeps massively increasing the deficit it won't be.
- Then our debt will be relatively meaningless and easy to pay off.
  Not that we would.
You did .... by leaning into it and letting it hit you square in the chest ... don't worry the internal bleeding is slow, you'll just slowly fall asleep and never wake up again.
Eh the media is already pretending Trump's Biggest Tax In History will be turned into a cash funnel to pay down the debt. When in reality not a single dollar will flow there. The media is back to being totally complicit.
Pun is warranted and acceptable. Thank you

Seriously?

What idiot thought it would take a trillion years for the US to rack up $37 in debt?

lmao
Came in to make the same stupid joke. Love to see I've been beaten to it.
- Me too kolanaki, me too. I was so excited too, ah well, I'll be faster next time.
- Someone beat them to it too lol

What happens when someone uses an entire country as collateral while stuffing their own pockets. Watch it happen, now!

Who thought it would take a trillion years for the debt to reach $37?

Actually, we thought it would take 1,000,000,000,010 years but it only took 10.

Classic republicans spending way too much. To them conservative = spend and waste more.

There's a world in which the US is carrying $37T, everyone lives in a spacious public condo, rides the UltraMax train around town to their 30 hour/week jobs or publicly financed doctor's appointments or state financed university classes or luxury public park and spa.
And I think that would be money well spent.
Shame we don't live in that country
- "Sure, basically all available economic data suggests that society would become far more productive and stable if the neediest people were given enough stability to develop into contributing members of society, but if I don't see people I don't like suffering terribly then I will feel there is no right and wrong in the world and I might as well go have sex with a child like we all secretly want to." - social conservatives (actually)

Solution: sacrifice the richest people until their wealth adds up to $37 trillion and maybe a few more rich people just for extra security

Just for fun I did the math on this and if the total net worth of the US is about $120 trillion, you'd have to erase anyone with more than about $12 million in assets to pay off the national debt.
- Doesn't sound so bad
The solution is to stop trading oil in USD then nobody will want it anymore

Trump will be the first president under which a sovereign default will occur

History repeats itself indeed, it's sounding more and more like the pre revolution France, a tone deaf dictator, cooking the books because the numbers weren't so good, the poor suffering more and more etc etc
- *guillotine sharpening intensifies
- repeating 2008 , but much worst than before.
At the rate the USD is declining against other currencies, I'd say it's going to happen before the midterm. His only hope for prolonging this is to replace Jerome Powell and bandaid it until it's someone else's problem. Or start a war.
- I think he will go all in on a DOGEcoin, get rid of Powell, start a war with Mexico, Greenland, and Canada simultaneously, pull out of NATO, ally with Russia without getting anything in return, Nuke California, and try to assassinate Zohran the Destroyer.
  It will be a shitshow, and EVERYBODY is on the stage.

I'm waiting for the inevitable response executive order: "Nuh uh - Donald J Trump"

(And then all the Republicans clapped)

"Biiiiiiiiiiden's economy!?!"
"Hey... I found a dollar in the seat cushions!"
"TRUMP'S ECONOMY! TRUMP'S ECONOMYYY!!!"

US debt reaches $37, a trillion years before expected. FIFY

This is how I first read the headline, too. It took a double-take to read it correctly.

I hope foreign nations blacklist the American elite from migrating to their shores and owning anything in their territories. The wealthy are parasites that inevitably kill the host.

many of them are complicit in laundering money for them, swiss bank, malta?, destuche bank,,,etc.

I don’t know who was expecting it to take a trillion years, you can go 37$ in debt at the Taco Bell drive through

You fat bro.
- A single combo is nearly $20.

So what happens when the US defaults? Just asking for those that are curious to see where this slowmotion trainwreck is heading

Debt doesn't matter, especially in the usa.
- There will be no default. However, there will be massive inflation and loss of the dollar as the world's reserve currency.
They aren't actually borrowing from anybody, the debt is to themselves. It basically just means the US Federal Government spends more than it collects every year since POTUS Clinton was in charge.
They do set an upper limit to the debt / annual deficit and if they fail to resolve it by raising the limit then the federal government goes into shutdown: no new laws passed, no federal employees get paid, etc. But they pretty much always raise the limit. The last time the limit was raised it was a bipartisan push to keep the government running, during which the DNC members who joined with the Republicans received a lot of criticism for doing what the Republicans wanted, but TBH I don't really think things would have been much better off if the government had shut down again.
Next time, though, it's become clear that the Senate will keep stripping rights and not allow a single bit of progress to be made no matter how far into fascism this nation falls, so definitely should shut down.
- This is a vast misrepresentation. National debt is literally bank loans the government has taken out and promissory notes like Treasury bonds. They owe investors, banks, and individuals money - only 1/5th of the national debt is held by intergovernment bodies (meaning money the government has loaned itself and 'owes themselves'). 80%+ of the debt is owed to non-internal groups. Even the self-owed debt must be repaid, or the government would be defaulting on a loan from one department to pay the other - robbing Peter to pay Paul.
  https://www.marketplace.org/story/2023/05/26/who-does-the-u-s-owe-31-4-trillion
- Pretty sure it's actually Nixon's fault from 1971
think 2008 crisis, but worst. because everything was getting cut. when obama came in the military was downsizing as well, until TRUMP came into power for the first time.
Austerity. Eventually.

“Conservative” fiscal “responsibility”

I still waiting for the damn “trickle down economics“ that Reagan PROMISED!

It was ruled in court to be illegal in 1919 in the Dodge vs Ford lawsuit.
At the time, Ford himself wanted to: "My ambition is to employ still more men, to spread the benefits of this industrial system to the greatest possible number, to help them build up their lives and their homes. To do this we are putting the greatest share of our profits back in the business."
But shareholders (both Dodge brothers of the Dodge car company) sued against this and in the end the judge declared that: "A business corporation is organized and carried on primarily for the profit of the stockholders. The powers of the directors are to be employed for that end. The discretion of directors is to be exercised in the choice of means to attain that end and does not extend to a change in the end itself, to the reduction of profits or to the nondistribution of profits among stockholders in order to devote them to other purposes."
Basically, if you attempted trickle down economics, you'd be "stealing" from the shareholders. Extra money is to be given to shareholders as dividends, not for boosting the pay of your employees if it doesn't involve adding more profits to the bottom line.
https://en.m.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co.
If America paid attention to its own history Reagan would be remembered as the worst president
- Second worst now, imo
- There is really a lot of competition for that spot.

That's what a conman as leader of your country will get you. Fired half the government workforce, still spent more money than the last guy and he's only been in office for 6 months. It only goes down from here folks, hope you enjoyed the ride. This is your last stop.

This title could really use a comma.

US debt reaches $37, trillion years before expected.
- I wish that was the actual debt and timeline. $37 debt would be preferable
Or scientific notation

Does anyone have data about how much additional debt has been piled since Trump started second term?

But how could that be possible? He's a master businessman!
- Ahh! Russia! Global Warming! The libs! Immigrants!
A fuckton of it.
- I am sure but does anyone have a number?
The interest alone is $1 trillion every 100 days.
- Fun times ahead

WE'RE NUMBER ONE! (...in debt).

USA UsA usaUAS … were the greatest!

Well, things like that happen when you throw money at billionaires instead of collecting taxes from them.

Those are just fake numbers. USA is not in debt, in fact it has a surplus of 9000 quintilions. Trump probably.

It's OK. I heard after the prescription price reduction, he's looking to lower the national debt by at least 1500% also.
Trump has definitely never used the word "quintillion".

Fucking Democracts not paying the debt down.

Republicans

literally meaningless to me. i couldn’t care less. money is fake and nobody is ever going to do shit about the debt. who? tell me who is going to do what and without any devastating worldwide consequence?

we can owe $6 quintillion and it won’t mean shit we will print and print and borrow and borrow and so will every other country.

It's a modern day religion .... it's a faith based system
It works and functions and is all powerful because enough people believe in it and hold all their faith in it ... it's faith and belief that make it work
But it's also the Achilles heel of the whole system ..... if enough people in the whole system stop believing in it ... it all collapses in on itself and it is destroyed and evaporates instantly.
- This analogy is very apt. I stopped giving money (and wealth in general) power over my emotional state. I only care about making rent and many of my recent luxuries are buying independent art like games and music as well as local shops.
  Turns out, if you stop wanting all the time, you also stop consuming.
- … it’s faith and belief that make it work
  But it’s also the Achilles heel of the whole system … if enough people in the whole system stop believing in it … it all collapses in on itself and it is destroyed and evaporates instantly.
  Just like the US Constitution.
- So is the rest of our consensus reality..
Having large debt matters for how expensive access to cash is. No matter how "fake" it is, the financial system puts a premium on how long it takes to get their lent money back. The longer it's stuck, the worse the reputation of getting it back, or simply the higher the demand — the higher the premium.
And as you need cash to make payments for goods and services (as opposed to tax rebates) that has the effect that US tax dollars and investments have lower rate of return as sufficient cash gets more expensive.
Another part is that the debt will be taken out in some form, e.g. foreign currency, making that currency more available for cash transactions (while at the same time making yours' less available due to being locked into what you needed it for). This shifts trade away from USD, which makes it much harder to influence/control what it's used for, how much it's worth, and harder to make people care how much of it there is.
As the world trades in something besides USD and/or avoids investing in the US due to high costs/volatility, the US gets less relevant/influential in global policy, diplomacy, business, investments and even domestic policy.
It's possible that other countries might start calling us on the debt, if we borrow faster than we lend, or faster than inflation.
Countries don't have credit ratings in the same way Americans do, but they still have ratings on their bonds. If those ratings get downgraded, people stop lending us money, and then everything crashes and burns.
- Our ratings HAVE been downgraded, and it's only going to get worse
- Most of our debt is domestically owned, though.
- i mean "it's possible" and likely are two separate things. we all owe each other money. who is collecting from whom that doesn't owe some other nation?

How unexpected!

Who could've seen it coming?!
/s juuuust in case some dummy out there doesn't get it

the title from Newsweek is so poorly written

The debt didn't reach $37 just a trillion years early?
- I initially parsed it as "the US reached 37 billion years before..." like it was a sci-fi apocalyptic piece set in the far future

The euro, pound, and Swiss franc are each worth more than a US dollar.

Buy gold, the U.S. dollar isn't going to be worth the paper it's printed on in a few years time.

Best debt EVER!!!

He is a smart business man, that is impossible

So far…

The federal debt is just the fascist's excuse to be fascist.

somehow the defense budget remains unaffected.
- While failing audits every single year.
- Defense budget and ICE budgets must go up!
  The defense budget is all contractors too. The amount spent on personnel is fucking miniscule.

Im starting to suspect they want the number high. Like when I hear ppl say it good to have some debt for your credit score.

Go figure...

Witnessing the supreme white economy before your very eyes

It doesn't even mean anything, it's never being paid back.

When a dem is in power, the deficit is the most important topic. When a repub is in power, anything goes.