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PLS READ: How America Went From Paying Down Its Debt to $40 Trillion This article is part of ONEST’s Financial & Geopolitical Literacy Series, made possible by generous donors who support independent ONEST journalism and allow us to keep this reporting public. www.onestnetwork.com/how-america-...

onestnetwork.comHow America Went From Paying Down Its Debt to $40 TrillionThis article is part of ONEST’s Financial & Geopolitical Literacy Series, made possible by generous donors who support independent ONEST journalism and allow us to keep this reporting public.

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It's important to note that a balanced budget is not nearly good enough. That image needs a NEGATIVE $1T just to keep up with the interest on the national debt. We need some serious change in leadership.

This is the best explanation I’ve read of debt vs deficit and the scary situation we’re in due in part to 2 decades of massive tax cuts mostly benefiting corps and wealthy. Staff up IRS. Reform and modernize Internal Revenue Code (has not been recodified since 1986). Tax hikes on uber wealthy.

GOP: "Just one big tax break treasury giveaway to the rich after another - one GOP administration after another." (And pretending that they can declare such moves "permanent".)

Teacher, I have a question... The article says "What is actually driving the debt now? ...Social Security ...Medicare and healthcare" How about the primary cause being "not taking trillions in taxes on the WEALTH of the super rich, and instead giving them more tax cuts?"

Because debt growth is a gap between spending and revenue. The article identifies the largest structural spending pressures; revenue policy is part of the equation too, including repeated tax cuts and the political refusal to match revenues to commitments.

Yes, that is how debt is created. But when the article makes its big conclusion by only pointing at spending instead of the purposeful not-taxing the wealth of the rich (the "trickle" elephant in the room since Reagan), it gives readers the impression that SS and Medicare are the primary causes.

The article separates two questions: what drives federal costs, and why revenues are insufficient to cover them. The first includes Social Security, Medicare, healthcare, military spending and wars. Taxation belongs to the second question. Conflating the two makes the analysis less precise.

I’m sure it’s a good article - but I already know the answer is REPUBLICANS. All you need to do is look at the numbers and who was in charge at the time.

Stop funding old people. They got us in this mess. Tax the wealthy into the ground. They got us into this mess. Stop senseless wars. They got us into this mess. Stop voting Republican. They are selfish, mean, and stupid so they are incapable of getting us out of this mess.

Ironically, one of the main architects of Clinton's budget was Republican John Kasich. He would have made an excellent president if people hadn't been distracted by the antics of Trump in 2016. Kasich was also the first Republican to reject Trump from Day One.

Let’s size up this big US achievement. The annual interest payment on debt is twice the wealth of Elon Musk. US needs two Elons to pay one year’s worth of interest. US needs many more Elons. Enjoy!