$30 trillion in federal debt
The first $10 trillion in federal debt took 219 years to accumulate.
The second $10 trillion in federal debt took 9 years to accumulate.
The third $10 trillion in federal debt took 4 1/2 years to accumulate.
One of the amazing things about how spoiled Americans are, so dissatisfied with our wealthiest-in-the-world country, is that we aren't even paying for it. During the present era of perpetual dissatisfaction (since 2004) we've borrowed $23 trillion in federal spending. It's like you borrowed to buy a Bugatti, crashed it in 2008, immediately borrowed to buy another Bugatti, crashed it in 2020, immediately borrowed to buy another Bugatti, and you're planning to crash it again sometime in the next year, but the whole time you've been complaining about how much your automobile sucks. That's America.
It continues to mystify me that the rest of the world keeps lending you trillions to crash your car, and that US Treasury Bonds are still considered "the safest asset in the world", even though you're never paying them back.
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Wow, tiny Luxembourg owns half a million USD in US Treasury Bonds per person.
Even more wow, even tinier Cayman Islands owns four million USD in US Treasury bonds per person. Obviously the Cayman Islands is a shell country covering up gigantic amounts of stateless cash.
The second $10 trillion in federal debt took 9 years to accumulate.
The third $10 trillion in federal debt took 4 1/2 years to accumulate.
One of the amazing things about how spoiled Americans are, so dissatisfied with our wealthiest-in-the-world country, is that we aren't even paying for it. During the present era of perpetual dissatisfaction (since 2004) we've borrowed $23 trillion in federal spending. It's like you borrowed to buy a Bugatti, crashed it in 2008, immediately borrowed to buy another Bugatti, crashed it in 2020, immediately borrowed to buy another Bugatti, and you're planning to crash it again sometime in the next year, but the whole time you've been complaining about how much your automobile sucks. That's America.
It continues to mystify me that the rest of the world keeps lending you trillions to crash your car, and that US Treasury Bonds are still considered "the safest asset in the world", even though you're never paying them back.
-----
Wow, tiny Luxembourg owns half a million USD in US Treasury Bonds per person.
Even more wow, even tinier Cayman Islands owns four million USD in US Treasury bonds per person. Obviously the Cayman Islands is a shell country covering up gigantic amounts of stateless cash.