US Politics Thread 2021-24

[Rockstar]

America is now paying more in interest on its record $33 trillion debt than on national defense — here's who holds the IOUs

Serah Louis
Fri, October 6, 2023 at 7:30 AM EDT·5 min read

https://finance.yahoo.com/news/ameri...113000593.html

America’s gross national debt hit an eye-watering $33 trillion for the first time in September — mere months after eclipsing the $32 trillion mark earlier in the year.

The U.S. is also currently spending more to pay interest on the national debt than it does on national defense, according to the Treasury’s monthly statement.

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In the current fiscal year through August, the Treasury has shelled out $807.84 billion in interest on its debt securities, while the Department of Defense’s budget for military programs totaled just $695.44 billion in the same period.

This is particularly alarming when you consider how much of the federal budget goes into defense, with the U.S. outspending every other country.

The last few years have been expensive

A deficit is what happens when the government spends more money in a fiscal year than it brings in through taxes — and the last few years have been expensive for the U.S.

Several large bills with hefty price tags have been approved since the start of the COVID-19 pandemic, including the American Rescue Plan Act, which cost $1.9 trillion.

The Congressional Budget Office estimates the debt ceiling package that was signed into law this summer to prevent a national default could result in a $1.5 trillion decrease to the deficit over the next decade. However, the Committee for a Responsible Budget (CRFB), a nonprofit that addresses federal budget and fiscal issues, says savings could fall to $1 trillion depending on “side deals” that fall outside the agreement.

“Getting the debt under control will require taking a serious look at health care, Social Security and the tax code,” CRFB president Maya MacGuineas said in a news release.

Much of the borrowing in the past couple of years happened while interest rates were historically low, but now that they’re not, with prices still climbing, the cost of this debt will be amplified.

Nearly $2 billion is spent every day just in interest on the national debt, according to the Peter G. Peterson Foundation.

And when the government owes a lot, it makes it harder for corporations to borrow money.

“The federal debt squeezes out other debts in the economy,” Phillip Braun, clinical professor of finance at Northwestern University’s Kellogg School of Management, told Moneywise last year.

“There's only so much money in the economy. And so with the government borrowing such large amounts, there's only so much that people are willing to lend overall in the economy, so it pushes out other types of borrowing.”

The government could have refinanced its debt while interest rates were low, but it didn’t.

“Which means the borrowing costs today and into the future are unnecessarily higher because of that,” Braun said.

Read more: Thanks to Jeff Bezos, you can now use $100 to cash in on prime real estate — without the headache of being a landlord. Here's how

So who owns America’s national debt?

There are different kinds of national debt. Think about it like having a credit card, a mortgage and a car payment — all represent debt, but are different.

The U.S. Department of the Treasury manages the national debt by splitting it into two different types: debt that one government agency owes to another and debt that is held by the public.

Intragovernmental debt accounts for about $6.8 trillion of the national debt, according to the CRFB.

The much bigger piece of the debt is held by the public. Right now, that’s about $26.2 trillion.

Foreign governments, as well as banks and private investors, state and local governments and the Federal Reserve, own most of this debt, and it’s held in Treasury securities, bills and bonds.

Foreign governments and private investors are one of the biggest holders of the public debt, owning around $8 trillion.

About 50% of this debt is held by private and public domestic entities, while the Federal Reserve Bank holds roughly 20%. But there is good news when it comes to the debt the Federal Reserve owns.

“The Federal Reserve owns a lot of government debt,” Braun said. “The Treasury does pay interest payments to the Federal Reserve, but then the Federal Reserve turns around and gives it back to the Treasury — that alleviates some of the issues.”

A warning sign

Ultimately, rising interest rates will only exacerbate the national debt, making it harder for the government to respond to a slowing economy.

“As we have seen with recent growth in inflation and interest rates, the cost of debt can mount suddenly and rapidly,” Michael A. Peterson, CEO of the Peter G. Peterson Foundation, said in a statement.

“With more than $10 trillion of interest costs over the next decade, this compounding fiscal cycle will only continue to do damage to our kids and grandkids.”

[Gorpet]

Damn, If we could,we would.

[Jimbuna]

Not sure where this best fits, the Ukraine, Israel, Politics or even the Joke thread...

Donald Trump Calls Attack on Israel 'Horrible' and Claims It Would Not Have Happened If He Were President

Former President Donald Trump has commented on the recent attack by Hamas on civilians in Israel, blaming the incident on the current administration and claiming that it would've never happened under his watch, RadarOnline.com has learned.

In a post on his Truth Social platform, Trump stated, "THE HORRIBLE ATTACK ON ISRAEL, MUCH LIKE THE ATTACK ON UKRAINE, WOULD NEVER HAVE HAPPENED IF I WERE PRESIDENT – ZERO CHANCE!"

During a rally in Iowa on Saturday, October 7, Trump further discussed the attack, which has resulted in over 600 deaths and the kidnapping of 100 individuals, mostly civilians.

He described the invasion of Israeli territory by Hamas as an act of savagery that must and will be crushed. Trump also shifted the blame onto the Democrats for the attack, claiming that American taxpayer dollars had funded it.

Trump's criticism of President Joe Biden continued, stating that the current administration's actions were "weak and ineffective."

"They didn't have that level of aggression with me. They didn't have it. This would have never happened with me either," Trump said.

Later in the day, he also declared during a Cedar Rapids rally that Biden had "betrayed Israel" by releasing $6 billion in funds to Iran in exchange for American prisoners.

However, the claim that Biden's prisoner exchange fueled the Hamas attack has been challenged, even by Fox News.

Jennifer Griffin from Fox News conducted a fact-check and revealed that none of the money returned to Iran had been spent.

Additionally, intelligence operatives have suggested that the attack was likely planned for months, given its high level of coordination.
https://www.msn.com/en-gb/news/world...86ec4603&ei=17

Two major conflicts are raging as I type this and the usual suspect fears he may lose the limelight.

[Catfish]

Originally Posted by Rockstar

Ya sure beats anti-Biden conspiracy theories doesn’t it? Oh and btw I wasn’t seeking your approval, don’t need it, don’t want it.

Just thought that the info was good, nothing personal

[Rockstar]

Conflict in the Middle East has caused oil prices to spike prior to the opening of markets on Monday morning, which will inevitably lead to an increase in gas prices that are already choking Americans. Bidenomics trashing the economy even further draining the strategic petroleum reserves for political clout. Which now has only give even more leverage to OPEC countries to take advantage of the Israel/Palestine conflict.

Some places in the US are already suffering from gas prices that are over $7 PER GALLON, and that number will do nothing but go up.


No more drilling, he says! Any bets that statement is going to bite him in the arse like ‘not another foot’ did?

[Rockstar]

For the trolls out there. I don’t know if Trump could have prevented this new war. Frankly I think it’s safe to say it’s almost impossible even for him to know, but his comments now are a start, because at least we now have an idea what his goals would be be.

What I do know is this, in four years;

1. We moved our embassy to Jerusalem. No war.

2. We withdrew from the JCPOA. No war.

3. We undertook the maximum economic pressure campaign and crippling, historic sanctions on Iran. No war and they stayed below 4% enrichment.

4. We recognized Israeli sovereignty over the Golan Heights. No war.

5. We eliminated Qassem Soleimani and Abu Mahdi al Muhandis (and Abu Bakr al Baghdadi). No war.

6. The results? Iran isolated under crippling sanctions reducing their capacity to threaten the region, and historic peace brokered between Israel and its neighbors via the Abraham Accords.

7. Two years after Biden took office Iran is enriching over 60%, they’re two weeks from sufficient material for a nuclear weapon, Sudan fell into a civil war, and Israel just experienced the greatest loss of life in a single day since the holocaust.

8. In seeking to avoid conflict, it is upon us. By embracing our enemy and spurning our friends it will not be easily contained.

(hat tip: Robert Greenway)



—————-



Biden has been in office for three years now anyone have a clue what his goals are and what may have lead to this predicament?

I’ll start with the following Biden appointments.

1. Reema Dodin as Deputy Director of the White House Office of Legislative Affairs. She will be the most senior Palestinian-American woman ever serving in the executive branch. Her past involvement as a Palestinian student activist alarmed some Israel supporters.

2. Hady Amr as Deputy Assistant Secretary of State for Near Eastern Affairs. He served as a Fellow at the Brookings’ Doha Center for Qatar.
Robert Malley as U.S. Special Envoy on Iran. He has been a frequent critic of Israel and a vocal supporter of the Iran nuclear deal. In 2023, he was suspended and investigated for misuse of classified documents.

3. Colin Kahl was appointed Undersecretary of Defense. He is another supporter of the Iran deal.

4. Samantha Power as head of the United States Agency for International Development (USAID). Power was President Barack Obama’s ambassador to the UN and a harsh critic of Israel.

5. Wendy Sherman as Deputy Secretary of State. Sherman negotiated and continues to support the Iran deal.

6. Jake Sullivan as National Security Adviser. Sullivan was involved in initiating secret talks with the Iranians.

7. Avril Haines as Director of National Intelligence. She signed a letter urging the Democratic Party to change its platform to include language opposing settlement expansion and occupation and supporting Palestinian rights.

8. Maher Bitar as senior director for intelligence at the National Security Council. Bitar, a Palestinian American, was on the board of the anti-Zionist group Students for Justice for Palestine.

9. Former Secretary of State John Kerry as White House special envoy on climate. Though not directly involved in Israel-related issues, he was a vitriolic critic of Israel and negotiator of the Iran deal in the Obama administration.

10. In May 2022, Karine Jean-Pierre was appointed as press secretary. She raised concerns because of her 2019 call for Democratic Party presidential candidates to boycott the annual conference of the American Israel Public Affairs Committee (AIPAC).

It does appear the joke is on you again.

[Jimbuna]

Former U.S. President Donald Trump is not pleased about his exclusion from Forbes' annual list of the 400 richest people in America.

This marks the second time in three years that Trump has not made the cut.

Trump took to his social media platform, Truth Social, to express his dissatisfaction.

According to Business Insider, he criticized Forbes for employing "really dumb writers" tasked with targeting him. Trump also highlighted a poll indicating that 60% of Republicans would vote for him again and claimed he is far ahead of "Crooked Joe," referring to President Joe Biden.

Forbes releases its list of the 400 wealthiest Americans every year. To qualify this year, one needed a minimum fortune of $2.9 billion.

According to Forbes, Trump's estimated net worth stands at $2.6 billion, falling short by $300 million for a spot on the list.

One of the main reasons for Trump's exclusion, according to Forbes, is the significant loss in value of his social media company, Truth Social.

The platform has not gained the traction Trump had anticipated, with only about 6.5 million users so far, equivalent to roughly 1% of Twitter's total user base. Trump's 90% stake in Truth Social's parent company has plummeted from an estimated $730 million to less than $100 million.
Forbes also noted that Trump's equity has decreased by more than $600 million compared to last year, primarily due to the underperformance of Truth Social.
https://www.msn.com/en-gb/news/world...05423bce&ei=11

Clearly not a happy chappy atm but when is he ever?

[Rockstar]

Before Biden there was no war in the middle east because the Iranian regime had been brought to its knees. After only two years since Trump reinstated sanctions Iran was down to a meager $4 billion in reserves. U.S. energy sanctions cut Iran’s oil exports by more than 2 million barrels per day, depriving the regime of $70 billion that typically funds its budget.. Iran’s central bank controlled more than $120 billion in foreign exchange reserves. U.S. sanctions locked tens of those billions away in escrow accounts, and financial pressure forced Iran to draw down the accounts that remained open.

With barely any economic options, the regime was forced to cut payments to its regional terror proxies. While Iran fended off collapse, much of the rest of the Middle East breathed a sigh of relief. Several countries in the region made historic peace with one another. Progress was made by the Abraham Accords which were struck in August 2020 by Israel, the United Arab Emirates, and the United States

But when Biden took office Iran fortunes changed and with an influx of cash again threatens to undo much of the progress made. How could this happen, just look at the list of Biden appointments I posted above.

How Biden’s Policy Enriched Iran
Failure to enforce oil sanctions has helped Tehran finance Hamas.

https://archive.ph/zMW8r

The Journal’s report that Iran signed off on the Hamas assault on Israel should jolt President Biden from his failed Iran strategy. A place to start would be honesty about how U.S. policy has financed Iran’s support for Hamas.

Secretary of State Antony Blinken insisted over the weekend that the $6 billion the Administration unfroze in exchange for the release of five American prisoners wasn’t used to attack Israel. That may be technically true, but there’s no question the U.S. decision to ease enforcement of oil sanctions against Iran has aided Israel’s enemies.

Speaking of the proceeds from the $6 billion in unfrozen assets, Mr. Blinken said on ABC’s This Week that “not a single dollar from that account has actually been spent to date,” adding that “it’s very carefully and closely regulated by the Treasury Department to make sure that it’s only used for food, for medicine, for medical equipment.”

But money is fungible, and Tehran doubtless anticipated the increased cash flow when it plotted the attack. News reports say Iran’s Islamic Revolutionary Guard Corps had been coordinating with Hamas since August, which is about when the U.S. agreed to the prisoner swap that would give Iran access to the $6 billion.

More important, the U.S. also throttled back enforcement of oil sanctions, which gave Tehran billions more dollars to finance Hamas, Hezbollah and other terrorist proxies. Iran’s oil production jumped to three million barrels a day in August from 2.6 million in April, according to Organization of the Petroleum Exporting Countries data.

Iran’s oil minister said in August the country’s oil production would hit 3.4 million barrels a day by the end of September, the highest since 2018 when the Trump Administration imposed sanctions. Its exports have increased even more—by about one million barrels a day this year—because it has also been shipping stored fuel, namely to China.

Fathom that: Iran has ramped up oil production at a faster rate than the U.S. as the Biden Administration turned a blind eye to its sanctions circumvention. Iran’s production surge occurred mostly over the summer as the Administration sought to strike a new nuclear deal with Tehran and counter rising U.S. gasoline prices.
The White House might say that this is necessary so Russia wouldn’t benefit from rising oil prices amid its agreement with Saudi Arabia to curtail production. But the Saudis scaled back production in part because of Iran’s growing exports, and Russia is benefiting anyway from higher oil prices by dodging the G-7’s price cap on its exports.

It’s fair to ask if the Administration has let Iran and Russia evade sanctions because it doesn’t want to be blamed for higher gas prices as it continues to add regulations to limit U.S. production. In any case, Tehran isn’t using the $30 billion to $40 billion it has generated from oil exports this year to buy food and medicine. It’s been arming Israel’s enemies and supporting Russia’s war machine as they seek to destroy America’s allies.

[Otto Harkaman]

Iran has made around $80 billion from its illicit oil sales since the Biden administration took office and relaxed sanctions on the hardline regime, cash that has helped Tehran keep its terror allies like Hamas afloat.

In April, a bipartisan group of senators led by Joni Ernst (R. Iowa) and Richard Blumenthal (D., Conn.) blasted the Biden administration for blocking federal agencies from seizing illicit Iranian oil tankers, arguing the policy choice was lining Tehran’s pockets.

A large portion of this oil is shipped into China, which counts Tehran as one of its top patrons.

https://freebeacon.com/national-secu...n-took-office/

[Rockstar]

Seems to me there are too many chiefs and not enough indians in the White House. Why we have no continuity in our foreign policy is because the guy elected to be in charge can barely string two words together or find his way off a stage. Leaving unelected bureaucrats running the show. Who really appointed those clowns I listed above that changed tack and gave Iran what they wanted. It pretty much destroyed the Abraham Accords.

On the other hand I did say years ago here I thought a good way for the west to remain relevant in the Middle East is to keep them fighting each other.

Who knows, it’s a mess that’s for sure and there stands a damn good chance it will spread.

As General Butler said: “War is a racket” Here is every US politician in Congress who currently holds stock positions that directly benefit from war in the Middle East:

Alan Lowenthal
Andrew Garbarino
Bill Hagerty
Blake Moore
Bob Gibbs
Carol Miller
Christopher Jacobs
Daniel Goldman
David McKinley
Dean Phillips
Debbie Schultz
Deborah Ross
Diana Harshbarger
Donald McEachin
Dwight Evans
Earl Blumenauer
Fred Upton
Garret Graves
Jerry Moran
Jerry Moran
John Curtis
John Yarmuth
Josh Gottheimer
Katherine Clark
Kathy Manning
Kevin Hern
Kurt Schrader
Lois Frankel
Maria Salazar
Marjorie Greene
Mark Green
Michael Guest
Michael McCaul
Mike Kelly
Mike Simpson
Mo Brooks
Patrick Fallon
Rick Allen
Ro Khanna
Robert Wittman
Roger Marshall
Scott Franklin
Shelley Capito
Steve Cohen
Susie Lee
Thomas Carper
Thomas Suozzi
Tommy Tuberville
Trey Hollingsworth
Virginia Foxx
William Keating
Zoe Lofgren

A bloody reminder.



Well, with things heating up with Islamic murderers & terrorism again. I’m going out on the limb and say we should be prepared for Islamic terrorism & violence in our own countries.

Looking over the the latest Customs & Border Patrol statistics on Apprehensions by Citizenship. Seems there are more than just Central Americans trying to gain access. Keep in mind too the list only covers those that have been apprehended not the so called gottaways.

https://www.cbp.gov/document/stats/n...ide-encounters

https://www.cbp.gov/sites/default/fi...0FY07-FY18.pdf

[Jimbuna]

Donald Trump unleashed on the Forbes editor who he believes made the decision that he was not rich enough to make the annual list of richest Americans — and the ex-president demanded a full apology, RadarOnline.com has learned.

On Tuesday night, Trump continued his attack on the magazine over the list they released earlier this month.

Trump had been on the list for years but has been removed at times in the past. He made the list last year due to the estimated valuation of his social media company, Truth Social.

Trump has a 90% stake in the app but Truth Social’s parent company, once valued at $730 million, is only worth around an estimated $100 million currently.

Forbes estimated Trump was worth $2.6 billion but that was $300 million short of what was required to make the list.

After the list was released, Trump took to his social media account to trash the magazine.

He accused the magazine of conspiring with the New York Attorney General Letitia James.

Trump told his followers, “China owned (China Investment Corp, the Country’s Sovereign wealth Fund!), and very badly failing, Forbes ‘Magazine,’ which lost most of its relevance long ago, and which knows less about me than Stormy Daniels (who doesn’t know me at all!) or Rosie O’Donnell, took me off their Fake Forbes 400 list, just by a ‘whisker,’ even though they know that I should be high up on that now very dated and discredited ‘antique.’ They are working with the Racist and highly incompetent, job killing Attorney General of New York, Letitia ‘Peekaboo’ James, who has allowed Murder and Violent Crime in the State to hit epidemic levels.”

Last night, he decided to attack Forbes' editor personally.

“I hereby demand a full apology from the failing Forbes Magazine, and their third-rate psycho writer, Dan Alexander, for the many false and libelous articles they have written about me, and for the cooperation they have given to the Racist and Incompetent A.G. of New York State, Peekaboo James.”

“You see, Forbes is owned by the Communist Chinese Government, and China will do anything to stop MAGA. Forbes, a Globalist “Rag,” is a propaganda play against TRUMP. MAKE AMERICA GREAT AGAIN!
https://www.msn.com/en-gb/money/othe...8eee363b&ei=11

[Jimbuna]

^ In response to the above.

An editor at Forbes is calling Donald Trump's bluff after he posted a rant on his personal social media site Tuesday evening.

Trump had demanded an apology from the "Globalist Rag," specifically citing editor Dan Alexander.

"I hereby demand a full apology from the failing Forbes Magazine, and their third rate psycho writer, Dan Alexander, for the many false and libelous articles they have written about me, and for the cooperation they have given to the Racist and Incompetent A.G. of New York State, Peekaboo James," Trump posted on Truth Social.

"You see, Forbes is owned by the Communist Chinese Government, and China will do anything to stop MAGA. Forbes, a Globalist 'Rag,' is a propaganda play against TRUMP. MAKE AMERICA GREAT AGAIN!"

In response to the rant on Wednesday morning, Alexander issued his own statement calling on Trump to back up his claims with evidence.

"Hey @realDonaldTrump, if you want to point out a single false fact in any of the articles I've published about you — or in the book I wrote about you — feel free. In the meantime, I'm going to keep reporting — and carefully fact-checking every word I publish," the editor said.

Trump has been at war with Forbes since he was dropped from its list of the nation's richest people due to years of his twisting financial facts. The former president's company is at the center of a fraud trial in Manhattan and the results will determine the future of Trump's real estate empire.
https://www.msn.com/en-gb/news/world...cd06207a&ei=17

[em2nought]

Stolen elections have a price to pay apparently. Biden et al is wrong at every turn. From now on whatever "they" plan to do, they should just do the opposite. He has so much in common with George Costanza.

[Rockstar]

[Rockstar]

Like mentioned before education is not free. One way or another someone is going to pay for it. Unfortunately it turns the ones paying for it arenÂ’t in school and can least afford too.




Democrats have alienated most of the population in a bud light moment with their Diversity, Equity and Inclusion woke agenda, accusing and categorizing white male population and majority of opposition voters as extremists and racists.

Now itÂ’s back to Duty Honor Country because it looks like they need fighters, US Army and US Marines are running ads featuring white males again all of a sudden.

Anyone want to bet this means weÂ’re going to war?