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ffr

(22,670 posts)
Tue Feb 13, 2018, 11:00 PM Feb 2018

Russia Today: America on its way to $30 trillion debt by 2028 as military expenditure soars



The mounting US debt is likely to grow by another $10 trillion in the next decade, according to estimates contained in the recent budget proposal.

According to the White House Office of Management and Budget, the national debt will hit $29.9 trillion by 2028. The deficit will be equal to 101 percent of America’s GDP, the Watchdog Committee for a Responsible Federal Budget forecasts.
<snip>

Under the new budget, President Donald tRump is requesting a record $686 billion for the Pentagon – a 13-percent increase compared to the 2017 budget.
<snip>

Last week, Moody's warned that it could downgrade US ratings over "meaningful fiscal deterioration." S&P downgraded the US back in August 2011.

“The recently agreed tax reform will exacerbate and bring forward those pressures,” Moody’s analysts wrote.

In January, one of the largest ratings firms in China, Dagong Global Credit Rating, cut the US sovereign rating from A- to BBB+, putting the American economy on par with Peru, Colombia and Turkmenistan.
- RT

I can almost hear the roar of Russian laughter from here. Conservatives do the bidding of our adversaries.
17 replies = new reply since forum marked as read
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John Fante

(3,479 posts)
5. If there's one country that knows about bankrupting itself
Tue Feb 13, 2018, 11:08 PM
Feb 2018

via excessive military spending, it's Russia. No surprise they'd try ruin us the same way.

ffr

(22,670 posts)
8. I took a double take on linking to them for that reason.
Tue Feb 13, 2018, 11:20 PM
Feb 2018

Screw RT! But I think there's a lesson to be taken from this story. Putin winning and America losing. All going according to plan with the help of conservatives and tRump.

sarah FAILIN

(2,857 posts)
9. Agreed
Tue Feb 13, 2018, 11:29 PM
Feb 2018

I think using RT as the link is essential to show what is happening. You are absolutely right.

DetlefK

(16,423 posts)
10. RT is not a news-outlet. You should'nt link to them.
Wed Feb 14, 2018, 03:36 AM
Feb 2018

RT selectively publishes information.

They never give the reader the full story and omit information until the article fits the predetermined narrative.

RT's articles are not intended to inform the reader but to influence him towards an anti-american stance.

R B Garr

(16,954 posts)
16. Exactly! They are nothing more than a propaganda arm of Putin.
Wed Feb 14, 2018, 12:34 PM
Feb 2018

At least now their "performers" will have to register as Foreign Agents -- since that's what they are.

KWR65

(1,098 posts)
11. The deficit and debt don't matter.
Wed Feb 14, 2018, 04:51 AM
Feb 2018

Congress can pass an amendment to the constitution to allow the government to go into bankruptcy. We can then settle the debt for 10¢ on the dollar. The recent act by the republicans to explode the deficit proves they will vote the right way when the time comes to go bankrupt.

ffr

(22,670 posts)
13. What? Where did you come up with that conclusion? Completely one dimensional thinking.
Wed Feb 14, 2018, 12:24 PM
Feb 2018

Assumes congress can pass a constitutional amendment and a president would sign it.
That our nations credit rating has no bearing on interest rates.
That declaring national bankruptcy would have no bearing on the global economy, let alone our own, and the the long-term ramifications of the United States government defaulting on debt owed to foreign nations.

Wow!

Care to defend your position that "the deficit and debt don't matter?"

tblue37

(65,357 posts)
12. Military expenditures bankrupted the Soviet Union. Rapacious oligarchs
Wed Feb 14, 2018, 05:24 AM
Feb 2018

are bleeding the Russian people dry.

We are following their model.

bullwinkle428

(20,629 posts)
15. They would know quite well, given that the Soviet Union was bankrupted
Wed Feb 14, 2018, 12:27 PM
Feb 2018

and essentially destroyed economically by its own ridiculous military budget.

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