Trump supported the initiative of the next increase in the limit of US debt

Information Service "BBC" reports that Trump has decided to continue the financial movement along the path of his predecessors as president of the United States. This is expressed in the fact that the American president, along with representatives of the congress, did not find anything more original than the next increase in the marginal level of the American national debt. According to the US President, such actions will reduce the risk of default.

The problem of another increase in the US debt limit was discussed in connection with the hurricanes Harvey and Irma, which devastated the American treasury by several billion dollars.

From the report:

Representatives of the Democratic Party announced an agreement on raising the limit of public debt after approval by the House of Representatives of the allocation of almost 8 billion dollars to eliminate the consequences of hurricane Harvey. The draft law on raising the state debt limit has not yet been approved. However, his supporter was President Trump. The head of the Republicans in the US Senate, Mitch McConnell, said that the bill would be considered, although earlier many Republicans were against new increases in the US debt ceiling.

Trump again about the "deal":

Yes, we come to this deal. I think it will be good. We had a professional, emotional meeting.

To date, the level of US government debt is estimated at 19,997 trillion dollars. The burden of debt for every citizen of the United States, including old people and babies, is more than 61 thousand dollars.

Comments

[Anarchist]

The US is unable to repay its external public debt. There is only one possibility - is it a war with creditors? Here they are trying to weaken the regional countries between strife!
British heredity is there! And also the influence of the Natives of the Holy Land ...

[Evil543]

For that they will tell you that the USA is the locomotive of production and progress, with the highest level of GDP per capita

[Anarchist]

Most of the US GDP is outside. From part in banana republics, another part in oil-producing countries, and production in countries with low living standards. And all this is the work of corporations that, in the pursuit of profit, unleash wars and impose dictates to the whole world ...

[voyaka uh]

"Most of US GDP is outside" ///

Why all of a sudden? In the USA, airplanes, ships, cars,
appliances, all gasoline / kerosene / chemistry, all military, space ...
They produce oil and gas from themselves, almost as much as Russia.
Abroad - only consumer goods.

[sharp-lad]

What you listed do not make the main weather in modern GDP calculations, but the whole consumer goods, especially virtual .....

[max702]

Just like something about the Russian economy said .. For ..

Quote: voyaka uh

Why all of a sudden? In Russia, airplanes, ships, cars,
appliances, all gasoline / kerosene / chemistry, all military, space ...
They produce oil, gas at home, almost as much as the USA
Abroad - only consumer goods.

[l7yzo]

Unfortunately, they still don’t want to explain to us what the US debt is and how they cunningly hide inflation and a lot of money released. If you remove government debt - this is 19 trillion - that would be this mass of money in circulation - a dollar would cost a penny or less.
For example, China has before it on its account debt from the United States (China's foreign exchange reserves of 3 trillion) - this is nothing more than China sold the United States in the amount of 3 trillion dollars. This money the Central Bank of China has changed to RMB. And here is what I changed (emitted) and sent back to the United States (i.e., this type of money should destroy the United States, as the issuing country). BUT the USA puts this money on the account of this country - "Currency reserves". And voila - the United States bought 3 trillion worth of goods in China for air. and China, secured by the dollar, issued RMB for this amount. And everyone is happy - and so everyone is strange.

In short, the United States and its treasury, the Moloriki and their treasuries, are in general an awesome idea.

[Anarchist]

But debt will sooner or later affect the US economy. Therefore, they impose their hegemony. Therefore, they will violently hammer Russia and China. Is it either the USA or We ...

[iConst]

Quote: l7yzo

Unfortunately, they still don’t want to explain to us what the US debt is and how they cunningly hide inflation and a lot of money released.

Yes at every corner they say. A public debt is a public debt. External and internal. External in the form of those trezheriz.
And so - all right - printed dollars settle in the form of debt instruments. They are not in circulation. The whole world credits the SGA.

And you need to understand that the dollar as a means of payment within the SGA and dollars in the form of a world currency are still slightly different dollars. More precisely, their path is different.
When at the beginning of this year the Fed raised the interest rate on treasuries, the holders of these treasuries suffered losses.

Quote: l7yzo

For example, China has before it on its account debt from the United States (China's foreign exchange reserves of 3 trillion) - this is nothing more than China sold the United States in the amount of 3 trillion dollars. This money the Central Bank of China has changed to RMB.

What did he sell? What does the gold reserves and "sold"? Those. if China gets rid of treasury, will it buy? China earned some money (sold, stolen, served - it doesn’t matter) exchanged it for dollars and bought treasury. And he wants to get a margin on repayment. That's all.

[Kenxnumx]

Not with the most. But basically you are right.

[svp67]

Quote: Anarchist

The US is unable to repay its external public debt.

Read the modern history of the United States, they can make this one ONE DRAWER OF THE PEN, as they did before ... Hegemon is a hegemon .... AND NOT ONE court will not say that they were wrong ... Here it is, the modern "democracy" "

[Anarchist]

They can’t! Because It will affect the attitude of creditors towards them. They borrowed a lot of money from China and India. And repaying the Debts with a stroke of the pen, under current conditions, will kill the US economy.
And many European countries, the so-called US vassality, whose economy is tied to the dollar ...

[iConst]

Quote: Anarchist

And repaying the Debts with a stroke of the pen, under current conditions, will kill the US economy.

Haha There is a good analytical article where it is reasonably shown that the Americans could well have turned this trick. And the whole World would go to them again and carry the money. Of course, this would not be in the cynical “they all went to a certain address”, they would explain that this is a necessary measure and is dictated exclusively by concern for the well-being, first of all, of all mankind.

And then: the SGA has debt of approximately 110% of GDP. Well, even more - they consider their GDP crafty. But Japan has a national debt of more than 300%. Greece also has 300+. In other countries it goes over the top hundred GDP. So what?
By the way, here, the Japanese are very hardworking people. And the Greeks, Italians and a number of other outsiders - well, they will not break even once! The whole WORLD owes to everyone and everything. And myself including.

So the scenario of writing off debts is not so fantastic.

[Hoc vince]

"... with the Hurricanes Harvey and Irma that devastated the American treasury"
And they did not wage wars on their territory.

[DenZ]

Quote: svp67

they can make THIS ONE FEATHER OF THE PEN,

Of course they can, just immediately bring down the dollar to terrible values ​​and it will be bad for the whole world, including us, since we keep our money in US treasury bonds and this money will simply disappear.

[dauria]

The US is unable to repay its external public debt

Yes, not so much they owe to foreign countries - about 3 trillion out of 13. Major Japan and China about 1,3 trillion. And the main part is private individuals and companies. So what ? Well, they themselves consider it profitable to lend to the United States. Like Russia. And certainly they are not going to throw debt obligations into the market.

[Anarchist]

What are you saying? And 4 trillion dollars only China do not want? Where did you get these numbers? What year are they?
Russia does not borrow from the USA, but from the IMF ...

[Gradus HuK]

I wonder when the collectors will come to them?

[Grandfather]

Trump supported the initiative of the next increase in the limit of US debt

funny right ... how am I going to go bankrupt, for example, if I print money at home, and that money goes around the world? The United States, which has both the Fed and the IMF, may not pay attention to the debts ... all the more so, by demanding a return, they will shoot from the shotgun to the belly ... well ... or, they’ll let a hundred or two “Tomahawks” go.

[Uncle lee]

Popandopulo: Take it all! I'll draw myself!

[oldseaman1957]

Quote: Uncle Lee

I'll draw myself!

- So they get nervous when other countries switch to their currencies. This is such a robbery!

[Stas157]

. The burden of debt for every US citizen, including the elderly and infants, is more than 61 thousand dollars.

And in Ukraine, it’s only $ 1800 per person. And while she lies and will not rise.

[Herculesic]

They are still ahead

[Herculesic]

Yes, they would immediately bring the debt bar to 100 trillion - why should there be little things? There is a machine, still colored paper imposed on the whole world will be drawn!

[Mavrikiy]

The burden of debt for every US citizen, including the elderly and infants, is more than 61 thousand dollars
Business then. To infinity, how much is left?

[klaus16]

Yes, in my opinion, they do not care what kind of debt they have. No one will blather: "return the Nuka, otherwise we ..."

[Siberian]

They will, of course, return nothing. But precisely because of this, Putin, contrary to the government, is pushing the transition to nat. currencies. Gradually we sell their loan obligations, we reduce the number of dollars at our place (you cannot immediately collapse precisely because you will not receive anything. There is nothing to receive). They’re not so empty pieces of paper, they just aren’t provided with gold, they are provided with Saudi oil (are they provided? Neither God nor the devil knows, neither Christian nor Muslim. Then, if it’s so simple - print and live, as and before whom would they have an external debt? Just they still don’t know what to give, share and plan. But they already guess ...

[Stas157]

Quote: klaus16

No one will blather: "return the Nuka, otherwise we ..."

It is not necessary for Americans to return their money. You can buy something for a dollar, and then not accept the very same dollars as payment. Only everything.
Everyone in the world understands that the dollar is not backed by anything. Therefore, as soon as a more attractive and liquid currency arises, many will switch to it. Now there is simply nothing more to hold money for - just dollars and euros. But the dollar, as I understand it, is more attractive, because a larger percentage is given for it in bonds.

[Tolstoevsky]

and what else to do with a soap bubble, since it’s impossible to unleash the world war on foreign territory

[oldzek]

why not increase it? 4 years will pass and “goodbye village I’m leaving, to whom I owe it to you I forgive everyone.” and so every 4 years.

[fif21]

And mattresses evaluate their public debt at a much lower amount. Having a printing press, you can have any public debt, especially since US dollars diverge around the world like hot cakes. Russia without fanaticism, but also holds part of its foreign exchange reserves in US dollars. This is how the world economy is structured, into which we got head over heels.

[DenZ]

Quote: fif21

This is how the world economy is structured, into which we got head over heels.

So-so, but the world economy is not a constant; it is transformed, and if we switch to settlements in national currencies, this will cause a significant blow to the dollar and the US economy as a whole.

[fif21]

Quote: DenZ

and if you go into settlements in national currencies

If yes As in that cartoon about the golden antelope, gold will turn into shards! Most countries of the world are afraid of this, what will happen to their accumulations if the dollar turns into "shards"? Are there many “suicides” in the world who are ready to part with their billions and millions of dollars? From the dollar you need to quietly move away and whoever does not understand this will be in ....

[svp67]

Trump supported the initiative of the next increase in the limit of US debt

Does he have a different way out? Not now. Since otherwise the entire state system will sit WITHOUT MONEY ...

[DenZ]

Quote: svp67

Since otherwise the entire state system will sit WITHOUT MONEY ...

It will be much worse than what you think. There will be a default of the United States In the United States itself, what will happen is scary to think. The world economy will be greatly affected. Since both the money of China and Russia are invested in dollar obligations and they are all reset to zero. Can you imagine what will start? I can’t even imagine (because this has never happened in history), but it will be complete ... oops.

[voyaka uh]

"There will be a default of the USA" ///

You do not seem to understand the meaning: "default of the US state apparatus."
Officials, employees of state museums, national parks, post offices
will be left without a salary.

[sharp-lad]

What subsequently affects the entire economy based on the principles of capitalism. The public servants' apparatus is a considerable part of buyers and their loss of the ability to pay for the labor of other people will hurt the whole society. Only for this reason do states continue to increase their debts, as there is no alternative to capitalism.

[Topotun]

Did he have a choice? And so in the president’s chair barely sitting .....

[rpuropuu]

The problem of another increase in the US debt limit was discussed in connection with the hurricanes Harvey and Irma, which devastated the American treasury by several billion dollars.

If there wasn’t a hurricane, it would have to be “invented” How is it in the style of the USA

[Berkut24]

So what to do? And who is easy now? It remains only to print the money, to lend it to someone, so that they lend this money to those who just printed it. And all these operations will be taken into account in the growth of US GDP. The world's advanced economy ???

[Slovak]

It’s good when you print money yourself! You can buy real assets for these candy wrappers, lend candy wrappers, and get back money, goods, services. When has the world eaten the game by the rules of a swindler?