Author Topic: What happens if the USA goes bankrupt?  (Read 1198 times)

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Offline LotusBud

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Re: What happens if the USA goes bankrupt?
« Reply #40 on: April 05, 2019, 09:21:29 PM »
All of those things together still don't equal the military budget.  And MOST of the military budget is going to defense contractors, not to personnel.  Not to the people putting their lives on the line.
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Offline Oak

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Re: What happens if the USA goes bankrupt?
« Reply #41 on: April 05, 2019, 09:31:32 PM »


Where's medicare and social security?  Seems to me that chart can't be correct.

Looks like that might be the discretionary budget, not the entire budget with the mandatory spending.
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Offline LotusBud

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Re: What happens if the USA goes bankrupt?
« Reply #42 on: April 05, 2019, 09:32:37 PM »
And this was an actual economic crisis.

Was it not an actual economic crisis when people were losing their homes and jobs here? 

Are you aware that currently, in the USA, half of US workers earn less than 32k?  You know how far 32k goes in the USA, I imagine.  You don't think it will constitute an economic crisis if the US goes bankrupt and tens of thousands of people lose their jobs?
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Offline Oak

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Re: What happens if the USA goes bankrupt?
« Reply #43 on: April 05, 2019, 09:41:00 PM »


This might be the more accurate picture of the federal budget.   Mandatory chunk is mostly Social Security, Medicare/Medicaid and mandatory military expenditures.

But most of the discretionary dollars go to the military as well.
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Re: What happens if the USA goes bankrupt?
« Reply #44 on: April 05, 2019, 09:55:30 PM »
Where's medicare and social security?  Seems to me that chart can't be correct.

Looks like that might be the discretionary budget, not the entire budget with the mandatory spending.


It's not entirely comprehensive, but still illustrative in pointing out that a welfare mom buying a pork roast is not exploding our natiional debt.
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Offline Oak

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Re: What happens if the USA goes bankrupt?
« Reply #45 on: April 05, 2019, 10:01:27 PM »

It's not entirely comprehensive, but still illustrative in pointing out that a welfare mom buying a pork roast is not exploding our natiional debt.

Absolutely not the problem, I agree.

I estimate the military is still taking somewhere between 30-40 % of the 4 trillion annual budget.   The big expenditures are the military - clearly, but also medicare/medicaid, and Social Security.   

That's why we haven't solved the immigration problem.  The amount of workers to fund these probrams through taxation have decreased.

We need more people to work to pay for these costs or we need to cut the spending.

Something has to happen.
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Offline Gyrboofs

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« Reply #47 on: March 28, 2024, 11:43:58 PM »
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