Will Trump bankrupt the US entirely?

[CallumWK]

5 minutes ago, Mike_Hunt said:

Notably, mortgage debt constitutes about 70% of total household debt in the United States.

 

Is mortgage bad?

 

At over 7% I would not want a mortgage

[TedG]

20 hours ago, Patong2021 said:

 

It is all in the approach. The Democrats are reluctant to support a freeze as long as  the very wealthy are receiving large tax reductions.  The fiscal conservative group within the GOP are not advocating for wealthy tax cuts. There are Democrats who are willing to work with Republicans (just as there are Republicans willing to work with Democrats) to  get a responsible budget done. The problem that arises is that as soon as anyone talks about keeping some taxes, they get called a commie, and if someone suggests closing a redundant military base they are labeled anti American.  

 

 

The budget will not be balanced on the back of the wealthy.   The top 1% in the USA pay 42% of income taxes. 

[TedG]

10 hours ago, simple1 said:

 

Trump ran up national debt twice as much as Biden 

https://www.axios.com/2024/06/24/trump-biden-debt-deficits-election

 

That's not even correct.   Note the date. 

[Mike_Hunt]

3 minutes ago, CallumWK said:

 

At over 7% I would not want a mortgage

I'd wager the lion's share of mortgage debt has a much lower rate. 

[CallumWK]

1 minute ago, TedG said:

 

That's not even correct.   Note the date. 

 

You haven't figured they talk about his first term ?

[CallumWK]

Just now, Mike_Hunt said:

I'd wager the lion's share of mortgage debt has a much lower rate. 

 

You seem to wager a lot. Any hard figures you can show?

[MCPO_Ret.]

On 6/4/2025 at 6:17 PM, spidermike007 said:

It would appear to some of us that the big ugly spending bill is going to lead to a massive amount of additional debt, as Elon Musk and Ray Dalio very accurately state. Many of us would question the wisdom of giving huge tax breaks to the super wealthy when the US economy is already carrying an unsustainable amount of debt, and the interest rates required to service that debt continue to rise. It does not look like the Fed will be able to lower interest rates anytime soon, as the appetite for American debt seems to be waning dramatically, for at least a dozen good reasons. 

 

For those of us who don't buy into the sloganeering we realize that very little manufacturing is coming back to the US, five major US companies have just announced that they're shifting a significant amount of their production overseas to avoid reciprocal tariffs, and that trend is likely to just continue. In addition tourism to the US is way down, due to Trump's increasingly open hostility toward the majority of the planet. 

 

Trump, nor his substandard team seem to have absolutely no understanding of globalization and the inherent ecosystems within manufacturing, and he doesn't seem to understand why manufacturing has declined in the US over the last 55 years. It certainly didn't happen in a vacuum. 

 

I predict that Trump's attempts to impose tariffs and bring manufacturing back to the US will be a massive failure of epic proportions.

 

 

I bet you praised the Biden/Harris Admin adding ~$8T to the debt in 4 years.

 

 

https://www.heritage.org/debt/commentary/the-lefts-7-trillion-lie-biden-far-outpaces-trump-racking-the-national-debt

[gamb00ler]

4 hours ago, newbee2022 said:

Mainly Trump will destroy the Bonds and make them not covering the costs for pensions.

I can't make sense of this statement.  The US Treasury sells Treasury bills to the SS trust funds.  The Treasury issues SS benefit payments to the retirees, disabled, spouses, survivors, etc.  Each time the Treasury makes those payments it is essentially repaying the SS trust funds dollar for dollar at full face value.  The SS trust fund is mandated to buy the Treasury bills with excess funds that are not needed immediately.

 

The US President (even Trump) doesn't have authority over the SSA.  It is an independent agency since 1994.  

[Mike_Hunt]

48 minutes ago, CallumWK said:

 

You seem to wager a lot. Any hard figures you can show?

Here are the average rates since 2000

 

https://www.lendingtree.com/home/mortgage/u-s-mortgage-market-statistics/

 

2000

8.05%

2001

6.97%

2002

6.54%

2003

5.83%

2004

5.84%

2005

5.87%

2006

6.41%

2007

6.34%

2008

6.03%

2009

5.04%

2010

4.69%

2011

4.45%

2012

3.66%

2013

3.98%

2014

4.17%

2015

3.85%

2016

3.65%

2017

3.99%

2018

4.54%

2019

3.94%

2020

3.10%

2021

2.96%

2022

5.34%

2023

6.54%

2024

6.87%

2025 6.89%

 

The average mortgage age is 73 months, and the average rate is 4.3%

 

https://www.fhfa.gov/data/dashboard/nmdb-outstanding-residential-mortgage-statistics?utm_source=chatgpt.com

[Screaming]

U.S. Trade Deficit Narrows by Record Amount as Imports Decline and Exports Rise (Just in)

https://www.breitbart.com/economy/2025/06/05/u-s-trade-deficit-narrows-by-record-amount-as-imports-decline-and-exports-rise/

 

 

President Trump is winning again! And this is more proof that Trump's tariffs measures are very effective and will reduce the trade Deficit. But yet the left wing socialists are crying in their Chang beer that Trump will bankrupt the U.S. 

[TedG]

9 minutes ago, gamb00ler said:

I can't make sense of this statement.  The US Treasury sells Treasury bills to the SS trust funds.  The Treasury issues SS benefit payments to the retirees, disabled, spouses, survivors, etc.  Each time the Treasury makes those payments it is essentially repaying the SS trust funds dollar for dollar at full face value.  The SS trust fund is mandated to buy the Treasury bills with excess funds that are not needed immediately.

 

The US President (even Trump) doesn't have authority over the SSA.  It is an independent agency since 1994.  

Sounds like a scam.   The federal government spends the trust fund; then the taxpayer has to make up the difference. 

[Patong2021]

1 hour ago, TedG said:

 

The budget will not be balanced on the back of the wealthy.   The top 1% in the USA pay 42% of income taxes. 

There is no denying  what you wrote.  However, the super wealthy are  not  always paying their  taxes as intended. They have the money and means to find  ways to circumvent tax obligations.   I think you can agree that  tax evasion is a significant problem and that if people paid their taxes as they should there could actually be a tax rate reduction for everyone.

[pub2022]

No, just your US assets.

[Yellowtail]

13 hours ago, spidermike007 said:

Very true. I have been telling people for two decades how over rated the US is, and they kept on fawning. No longer. Trump has been the greatest tool in history, when it comes to convincing the world, that the US is no big deal, and is becoming a lesser version of itself daily. 

So, @spidermike007, since the demise of the US is imminent, have you sold your businesses, liqudated your US assets and moved everything offshore?

 

 

[spidermike007]

10 hours ago, save the frogs said:

 

I don't really understand bitcoin. But this guy in the video is also recommending precious metals, real estate ... 

 

But the main point is he is predicting Trump's madness to lead to a significant de-valuation in the US dollar. 

 

No idea if he can be trusted. 

 

What about Thai Baht though? What about other currencies as a safeguard of depreciating dollar? 

 

Very little chance of the dollar regaining it's status. Trump has taken a wrecking ball to US prestige and few want to have anything to do with the US anymore. Stability is required and he is highly unstable, unhinged, a mad hatter, and has very little in the way of smarts and understanding of globalization. He is truly a village idiot, but a genius at promoting himself as something other than what is truly is. American influence is in the rear view now. Trumps damage is permanent. The goon is taking a wrecking ball to the pillars of American power and innovation. His tariffs are endangering U.S. companies’ access to global markets and supply chains. He is slashing public research funding and gutting our universities, pushing talented researchers to consider leaving for other countries. He wants to roll back programs for technologies like clean energy and semiconductor manufacturing and is wiping out American soft power in large swaths of the globe.

 

What will emerge to replace the lowly dollar? The euro? Gold? Bitcoin? Asian currencies? I would consider the Thai baht safe right now. Alot of issues with the economy here, but nothing like what the US faces. 

[spidermike007]

7 hours ago, Screaming said:

U.S. Trade Deficit Narrows by Record Amount as Imports Decline and Exports Rise (Just in)

https://www.breitbart.com/economy/2025/06/05/u-s-trade-deficit-narrows-by-record-amount-as-imports-decline-and-exports-rise/

 

 

President Trump is winning again! And this is more proof that Trump's tariffs measures are very effective and will reduce the trade Deficit. But yet the left wing socialists are crying in their Chang beer that Trump will bankrupt the U.S. 

A total misunderstanding of what is going on. April was an aberration for many reasons. Wait and see what the numbers are moving forward. You will be bitterly disappointed. 

[spidermike007]

8 hours ago, MCPO_Ret. said:

I bet you praised the Biden/Harris Admin adding ~$8T to the debt in 4 years.

 

 

https://www.heritage.org/debt/commentary/the-lefts-7-trillion-lie-biden-far-outpaces-trump-racking-the-national-debt

Prior to that Trump added 7.1 trillion. And he is on course to add 10 trillion or more, on this current, very reckless spending expedition. 

[save the frogs]

11 hours ago, spidermike007 said:

And he is on course to add 10 trillion or more,

that's a lot of moolah.

it's a gazillion short times. 

 

[spidermike007]

The "big super ugly spending bill", is something even his former buddy Musk is calling out as horrific and very bad policy. A huge tax cut for the super rich is not what the people asked for, Donnie. 

 

A quote from Musk. "This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination," Musk posted on his site X, as some lawmakers have expressed reservations about the details. "Shame on those who voted for it: you know you did wrong. You know it."

 

I predict this goon will only go after Musk on every level possible, he will try to cancel his government contracts, he will try to steal his money, you will try to cancel all the Tesla tax credits, and he will try to cripple the man for having the audacity to tell it like he sees it, and to speak the truth, something that you never, ever should do around Trump, as he abhors truth on every level possible. Truth has always been the enemy of the huckster and scam artist. 

[newbee2022]

8 hours ago, gamb00ler said:

I can't make sense of this statement.  The US Treasury sells Treasury bills to the SS trust funds.  The Treasury issues SS benefit payments to the retirees, disabled, spouses, survivors, etc.  Each time the Treasury makes those payments it is essentially repaying the SS trust funds dollar for dollar at full face value.  The SS trust fund is mandated to buy the Treasury bills with excess funds that are not needed immediately.

 

The US President (even Trump) doesn't have authority over the SSA.  It is an independent agency since 1994.  

Are you familiar with 401K ?

73 million pensioners will get their money out of this fond.

9 billion Dollars.

This fond is related to stock exchange indices.

If the stocks are falling, the pensions are to decrease.

Less money means less money for spending.

Less money for repayments.

This is the beginning of the end of America we know today.

Because of Trump

 

 

[gamb00ler]

1 minute ago, newbee2022 said:

Are you familiar with 401K ?

73 million pensioners will get their money out of this fond.

9 billion Dollars.

This fond is related to stock exchange indices.

If the stocks are falling, the pensions are to decrease.

Less money means less money for spending.

Less money for repayments.

This is the beginning of the end of America we know today.

Because of Trump

 

 

Are you familiar with 401K???? This post shows strong evidence you only have a hint of how they work.

The 401K holder almost always has a choice of where the funds are invested.  If they chose the stock market they should have been aware of the risks associated with that choice.

 

I do agree that Trump is destroying America's reputation and a large part of the economy.  However the investors should be paying attention and avoiding the markets if they aren't comfortable with the fluctuations and risks.

[newbee2022]

2 minutes ago, gamb00ler said:

Are you familiar with 401K???? This post shows strong evidence you only have a hint of how they work.

The 401K holder almost always has a choice of where the funds are invested.  If they chose the stock market they should have been aware of the risks associated with that choice.

 

I do agree that Trump is destroying America's reputation and a large part of the economy.  However the investors should be paying attention and avoiding the markets if they aren't comfortable with the fluctuations and risks.

In that fond are 9 billion dollars, invested in stocks. Fact.

If the stocks are falling...... money's gone.

We saw this in the beginning 2008. Fact

[gamb00ler]

13 minutes ago, newbee2022 said:

In that fond are 9 billion dollars, invested in stocks. Fact.

If the stocks are falling...... money's gone.

We saw this in the beginning 2008. Fact

Fact.... it is the account holder's choice where to invest.

Fact.... despite all the gyrations the stock market has not lost much since Jan. 20

Fact.... past performance does not guarantee future results

Year To Date:

DJI -.53%

S&P500 +1.56%

Nasdaq (QQQ) +2.56%

 

Wind your neck in!

[1FinickyOne]

10 hours ago, Yellowtail said:

Well that's great. You just proved that tariffs do not cause inflation, but they do generate additional tax revenue. Win-win! 

You are flat out wrong.

 

It proves nothing - most companies will pass on the price increase - I chose not to... please don't be so foolish as to think that my small company has any affect or is in any way an indicator of the whole economy. 

 

You are in over your skis if you think your limited knowledge applies to everyone... 

 

And actually, since my profits were smaller due to eating the costs, you could say that I paid less in taxes. And, I eventually stopped carrying that item. 

 

Have you ever been in business? 

[mogandave]

9 hours ago, Patong2021 said:

There is no denying  what you wrote.  However, the super wealthy are  not  always paying their  taxes as intended. They have the money and means to find  ways to circumvent tax obligations.   I think you can agree that  tax evasion is a significant problem and that if people paid their taxes as they should there could actually be a tax rate reduction for everyone.

You are conflating tax evasion with tax avoidance. Hiring more IRS agents and doing more audits will do nothing the stop tax avoidance. 

 

You have to change the tax code and eliminate socially engineered deductions.

 

Lawyers for the super rich are generally smarter than lawyers for the IRS.

[newbee2022]

14 minutes ago, gamb00ler said:

Fact.... it is the account holder's choice where to invest.

Fact.... despite all the gyrations the stock market has not lost much since Jan. 20

Fact.... past performance does not guarantee future results

Year To Date:

DJI -.53%

S&P500 +1.56%

Nasdaq (QQQ) +2.56%

 

Wind your neck in!

Bessent tried to sell 20y  Treasury bonds for 5%. 17% unsold. Never happened before.

[newbee2022]

17 minutes ago, gamb00ler said:

Fact.... it is the account holder's choice where to invest.

Fact.... despite all the gyrations the stock market has not lost much since Jan. 20

Fact.... past performance does not guarantee future results

Year To Date:

DJI -.53%

S&P500 +1.56%

Nasdaq (QQQ) +2.56%

 

Wind your neck in!

Nothing to do with account holder's choice.

9 billion are invested in stocks

[Cameroni]

1 hour ago, spidermike007 said:

pork-filled

 

Why pork-filled? Does anyone know what this means?

[gamb00ler]

6 minutes ago, Cameroni said:

 

Why pork-filled? Does anyone know what this means?

When budgets have significant funds set aside for the various pet projects of the supporting politicians, it is traditionally called pork-filled.

[mogandave]

6 minutes ago, newbee2022 said:

Nothing to do with account holder's choice.

9 billion are invested in stocks

And stocks are generally up, yes? 

 

$9B/73M is ~ $173 

 

Oh nooooooooooo