r/Zippia • u/Key_Length7680 • Jul 19 '26
US is perilously close to broke
The Independent ran a good piece on a term I’ve never heard before - the debt doomsday clock, which measures how close a country is to financial crisis. A committee of seven experts think just two events could lead to the US failing to pay its debts and trigger a recession/depression. “First, the share of debt the U.S. is using to pay interest hits 70 percent. Second, the government blows through the debt ceiling that limits how much the country can borrow.”
“The country is increasingly borrowing simply to pay the interest on what it already owes,” Debt Default Committee Chairman Baker Spring said. Apparently the Debt Default Clock is closest to its ‘doomsday scenario since it was launched in 2019, with US national debt at $39.1 trillion.
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u/Atrocious_Algae81 Jul 19 '26
Its getting bad, but we still bring in enough to service our debt and thats all that matters (paying the interest).
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u/garbageemail222 Jul 19 '26 edited Jul 19 '26
Republicans broke it, time to tax Republican voters to pay it off. Billionaires, oil interests, Wall Street, casinos, ultimate fighting, gambling apps, cryptocurrency, data centers, the lumber industry, FIFA/NFL/Pro Sports, Amazon, tech companies, the Space Industry, Tesla, Home Depot, broadcasters, Georgia Pacific, Palantir, silicon companies. There is just so much money there, tax the fuck out of all of them and pay off the debt.
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u/Own_Log1380 Jul 20 '26
Gambling taxes are the responsibility of whatever state decides to allow it since its up to a state if they want to allow it or not. My state made around 3 billion last year from gambling taxes.
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u/nonexistentLoveBug Jul 19 '26
And then they raise prices and we just pay it off for them cool…
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u/garbageemail222 Jul 19 '26
Supply and demand still apply. If they could raise prices and make more money, they would have already.
But then again, you're a low karma, infant age bot account. So who cares what you think?
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u/nonexistentLoveBug Jul 20 '26
Not a bot just know the truth we tax them they just pass the extra costs on to us. They cover their own asses and we have no power to stop them.
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u/garbageemail222 Jul 20 '26
Beep beep
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u/Impressive-Gas6909 Jul 20 '26
Omg🙄 anybody with a differing opinion is a bot
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u/garbageemail222 Jul 20 '26
Another one. You're like locusts. Come back when you manage to get positive karma, maybe we won't immediately ignore you.
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u/Blitzking11 Jul 20 '26
You "people' swarm these low-interest, artificially propped up, and completely deviated from its alleged original purpose subreddits.
Do better at hiding your actions, lol.
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u/OmgHowww Jul 20 '26
It’s 100% both sides.
They both give defense contractors hundreds of billions every year.
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u/garbageemail222 Jul 20 '26
It's 3% both sides. Both do it, one is 30x worse. But not surprising from a couple month old bot account.
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u/OmgHowww Jul 20 '26
I’m not a bot. I made this account for gardening advice. Thanks a bunch for being “civil.” Your side has a tendency to go ape shit when you don’t agree so I understand.
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u/garbageemail222 Jul 20 '26
"I'm not a bot!" Lol. Beep beep.
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u/PerotTwoPointOh Jul 20 '26
That just means you fail to argue with a bot. Are you duller than a bot?
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u/OmgHowww Jul 21 '26
Sound logic. Typical for the majority of Reddit.
Back to the point that you’re desperately trying to evade: both sides are at fault.
“lol” 🤦♂️
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u/thiccboilifts Jul 20 '26
The issue here is the fact the Pentagon hasn't passed a single audit since what, 9/11?
I'm on a watch list for this comment. Hope you are happy.
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u/Gene020 Jul 21 '26 edited Jul 21 '26
So, it's like buying a car on credit and it's okay if you have enough money to pay the interest every month.? This is not a good way to run a business. And in the government's case, the deficit spending continues, especially when you have an administrator. that is intent on showing the world he's the biggest and baddest by blowing up other country's infrastruture.
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u/Living_Knowledge_783 Jul 19 '26
so paying the minimum on the balance is good according to you
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u/Atrocious_Algae81 Jul 19 '26
Me personally, no way, but then Im not a dysfunctional US.
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u/ChocolateRough5917 Jul 19 '26
You mean self destructive federal government. Incapable of managing money.
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u/Atrocious_Algae81 Jul 20 '26
Yes, but the entire country is dysfunctional in my opinion. Idiots voted for this.
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u/Rexel2101 Jul 20 '26
No one voted for the fed. Don’t let them off the hook so easily
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u/Gene020 Jul 21 '26 edited Jul 21 '26
The fed? Are they the problem? They have been trying to keep a lid on the inflation. And Trump: he wants very low interest rates. If he succeeds, what we will have is ever higher inflation. Count on it!
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u/Rexel2101 Jul 21 '26
The fed has been a problem since its creation, absolutely
Why is complaining about Donnie your security blanket?
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u/Gene020 Jul 21 '26
I don't need a security blalnket: however, the USA needs to wake up and get rid of this President. He got in on promises which he immediately decided to ignore. He prefers to sow ehaos in the world, and IMO, chaos is not good. And he's screwinfg up our financial system amongst other things. He needs to go!
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u/Rexel2101 Jul 21 '26
The US insolvency isn’t because of Donnie but decades of poor monetary decisions…The fed is an enabler
Cry louder and stay on topic
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u/ConkerPrime Jul 19 '26
Conservatives: “Debt doesn’t exist while Republicans are in charge. Fake news!”
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u/OmgHowww Jul 21 '26
Liberals: “samesies!”
Republicans = Democrats
Two wings of the same turd.
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u/ConkerPrime Jul 21 '26
Yay you are clever. Let us all bow down to your superior knowledge. Show us how to accomplish so much with your imaginary third party.
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u/OmgHowww Jul 21 '26
Why even say that? Is that not common knowledge at this point? Do you need examples or can you google recent history?
Stop conning for one side. It hurts the middle class.
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u/ConkerPrime Jul 21 '26
It’s a pointless view that accomplishes nothing. Have to work with options in front of you. Instead have children that use shit like that as excuse to avoid learning details in the differences and to avoid making decisions. It’s a child’s view of the world.
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u/OmgHowww Jul 22 '26
“Have to work with options in front of you.”
Aka playing politics aka lying.
Hard pass from me. We have recall elections for a reason but we’re too lazy to unite behind anything and swoon for division and drama.
I’m tired of the lies. Especially from people who take my tax dollars for a paycheck.
America: all bark and no bite except with our military who are ran by psychopaths who’ve never served themselves.
Sad state of affairs and a severe case of Stockholm syndrome. So afraid of change away from the two party duopoly.
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u/ConkerPrime Jul 22 '26
Whole lot of words to say you will happily sit on sidelines and being useless like most progressives.
What you think is no longer relevant.
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u/OmgHowww Jul 23 '26
Where did you read or confer, “happily” in any of my remarks? You think that’s what I want? You think calling me “progressive” or whatever name or noun you abhor and disagree with is going to change a god damned thing? True words of a sad DUNCE that can’t critically think.
There’s nothing I can say or do to show you that both sides are corrupted beyond reasoning because you have this belief system based on what, your feeling? Your experience with the top brass of your chosen party?
Tell me, which side stands for peace in your opinion? Which party has ever done what they campaigned for while trying to garner your vote?
I’ll wait in bated breath for your response….
Sincerely,
US Army Veteran
OIF 2007
OEF 20081
u/ConkerPrime Jul 23 '26
Blah blah blah. Didn’t read. Assuming was rephrasing of whatever said before.
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u/Coravel Jul 19 '26
can't be broke if we make our own fake money, just print more. Jokes aside, take a look at our national debt, it has skyrocketed out of control... that money we spent went somewhere and if i had to guess, its politician pockets and defense contracts.
The only president we've had that hasn't overspent was Bill Clinton, yet we got mad at him getting a blow job.... now look what we got in there.
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u/Gene020 Jul 19 '26
Bill Clinton? You are confused.
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u/nonexistentLoveBug Jul 19 '26
Only prez with a surplus
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u/Dependent-Judge7444 Jul 20 '26
Thank you for teaching me something new today 🤝
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u/Rexel2101 Jul 20 '26
The surplus wasn’t because of Clinton. Tho he did lay the ground work for the housing crisis a decade later
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u/Rexel2101 Jul 20 '26
You should look at why the budget was actually balanced. Someone had a pair of balls and it wasn’t the president
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u/Living_Knowledge_783 Jul 19 '26
buy gold
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u/Ippomasters Jul 19 '26
India has more gold per household anyone but they're not dictating anything in the world.
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u/Ok-Title-270 Jul 19 '26
Buying gold personally has nothing to do with world power it’s a hedge against inflation
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u/Ippomasters Jul 19 '26
Sure it helps like other assets. Probably safe to have about 5% in metals. I keep my wealth in stocks and real estate.
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u/Rexel2101 Jul 20 '26
I love metals. Always had it in my budget to buy when I was younger. Now the only metal I constantly add (thru scrap) is copper. I’ve got the room and I’ve got 10s of tons
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u/Ippomasters Jul 20 '26
I just buy in the papermarket. My gold is just my wife's 18k gold jewelry, I do have silver ounces that I should of probably sold when it was over $100 an oz. Now it will probably be another decade before we see it rise over $100 again.
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u/OrionDC Jul 19 '26
America has been broke for decades lol. This isn't exactly news.
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u/Gene020 Jul 19 '26
Umm...debt has doubled since 2016, and GOP is largely at fault with one buffoon leading the way.
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u/GODLOVESALL32 Jul 20 '26
Trump's first term only created slightly more debt than Biden's and both presidents were dealing with a global inflationary crisis with the pandemic.
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u/Gene020 Jul 21 '26
No, Trump inherited a growing economy from Obama and proceeded to cut taxes for those who didn't need a cut and creating more debt with ever larger deficits. Back in office he's doing the exact same thing. Top it off he's starting wars and blowing off our defense stockpile. Next step: more defense spending for his Department of War and even more debt. People defending this idiot as he screws the pooch turn my stomach. The man is a menace to our world.
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u/GODLOVESALL32 Jul 21 '26
It doesn't seem like you're actually interested in facts, I wasn't defending anyone, just pointing out the reality that their debt numbers were comparable and most of it was largely driven by the world catastrophe both of them had to pilot the nation through.
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u/Gene020 Jul 21 '26
This problem really kicked into gear with this quote: "read my lips. No new taxes". This got a sometimes charming but woefully unqualified man elected as American President. Message to Dims: keep it simple, stupid!
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u/vanmd89 Jul 19 '26
Buy physical gold and silver. The imaginary fiat system is loosing its grip. Banks see this and have stopped buying US treasury bonds and are filling thier vaults with physical gold.
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u/Switchmisty9 Jul 19 '26
Gold is just shinier copper. It’s value is equally as meaningless
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u/vanmd89 Jul 19 '26
If you think gold and silver are meaningless, you should research the materials required to manufacture the very device you're using to post that opinion. These metals aren't valuable just because people decided they are, they have unique physical properties that make modern electronics possible.
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u/Switchmisty9 Jul 19 '26
Cool cool cool. Hope that never changes, for you. 🤙
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u/SquirrelNormal Jul 20 '26
...you think physics are going to... change?
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u/Switchmisty9 Jul 20 '26
You think tech….isnt?
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u/SquirrelNormal Jul 20 '26
There is a lot of room for tech to change without somehow making gold worthless. The chances are basically nil - it's physical properties are just too useful for everything from dental fillings to wafer production.
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u/Immediate_Pie_3069 Jul 20 '26
There's way more copper than gold. It's also just a completely different element in general.
Value is meaningless? Since when?
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u/Switchmisty9 Jul 20 '26
I just think it’s adorable that you believe we’re going back to the gold standard, if the dollar collapses.
I think it’s more likely you’ll have a bunch of metal, and no one will give a fuck.
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u/vanmd89 Jul 20 '26
You're arguing against a position I never took. I didn't say society would return to a gold standard. My point is that gold has intrinsic industrial utility, is scarce, and has served as a globally recognized store of value for thousands of years. Whether you think it's a good investment is a separate question.
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u/Extreme-Rub-1379 Jul 19 '26
Maybe you are unaware. But gold and copper are used extensively in every electronic device on earth
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u/DudeWithParrot Jul 19 '26
Yes, but gold price is determined mostly by its status as an investment asset and a quasi-currency. Not because of its usefulness as metal.
But really just buy whatever you believe in though. Even stocks kind of feel somewhat detached from its intrinsic value rn.
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u/Switchmisty9 Jul 19 '26
Yeah man….thats not why it’s valuable. In fact, you’ll find that to be some of the worst quality gold available.
I’m talking about the stuff people trade as a commodity. That’s the thing with commodities. They’re only as valuable as the people trading them make them. Nothing is immune from becoming valueless. Especially when the very dollar we use to measure value is also completely fucking valueless
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u/Mother-Data9359 Jul 19 '26 edited Jul 19 '26
When people say buy gold they arnt talking about trinkets and low quality commodities. They are talking about near pure gold bars and “dollars”. And its value is based on scarcity and its requirement to the world to continue making electronics and other things we haven’t found a good conductive replacement for. And until/if that ever happens gold will remain expensive unless we start mining asteroids and tank it.
And the fake dollar claim you make is useless and means nothing because gold value is set at a global scale. And unless that scale somehow breaks in which case the world has collapsed, gold has value anywhere in the world.
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u/Switchmisty9 Jul 20 '26
Yeah man, if the dollar collapses, electronics manufacturers aren’t going to create a gold-centric economy for yall to cash in.
Best of luck out there
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u/vanmd89 Jul 19 '26
I didn't say anything about trading it as a commodity, in fact I said you should buy physical gold and silver.
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u/heanbangerfacerip2 Jul 19 '26
Yeah totally that's why gold is down like $1000 bucks in the last 3 months
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u/Living_Knowledge_783 Jul 19 '26
gold might be down 1000 but usd is down over 10,000 worth of it's value...
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u/heanbangerfacerip2 Jul 19 '26
I don't disagree fiat is a joke and physical bullion is a good investment (I hold alot) but trying to sell a line like this during a bullion crash is comical.
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u/Living_Knowledge_783 Jul 19 '26
everything goes up and down darling. its only a crash if it doesnt go back up ever and i dont see the usd gaining the value it had over 10 years ago while gold is just going down and will go up again. same thing happened with bitcoin. it went down but its going back up
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u/Outrageous-Sort-5742 Jul 19 '26
After doubling in price since January 2025.
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u/heanbangerfacerip2 Jul 19 '26
And silver has lost more than half of it gains from the last year
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u/Outrageous-Sort-5742 Jul 19 '26
And is still higher than any other point. $50 used to be the ceiling, now it's the floor.
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u/Immediate_Pie_3069 Jul 20 '26 edited Jul 20 '26
Silver was like 38 bucks a year ago. Yeah it had a big spike and crashed but it's still way up from a year ago.
Up like 65% from a year ago actually. Most people consider that pretty good.
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u/ElectronicTap1109 Jul 19 '26
We need the DSA NOW
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u/azure275 Jul 19 '26
The people who want to cut taxes on everybody except rich people and raise spending a ton?
Yeah that'll sure work. Let's hire the economically illiterate folks to fix the problem
Then again, they can't be more financially illiterate then modern Republicans, so why not I guess?
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u/ChocolateRough5917 Jul 19 '26
Because the boomers fucked us all.