US hits $35 trillion national debt | The Hill

The United States' national debt has hit a massive $35 trillion. How big of a problem is that for the country? Kevin O'Leary, chairman of O'Leary Ventures, says it's "big" and offers a solution that would help alleviate some of the debt on "The Hill." He believes the issue has to be addressed with legislation.

#debt #economy #finances

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[OlgaBrynda]

Not making up to a million before retirement is unfulfilled retirement.!! I’m 54 and my wife 50 we are both retired with over $7 million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on FED for our misfortunes. Saving and investing lifestyle in the stock and forex market made it possible for us this early, even till now we earn weekly.

[brookss]

The national debit is over $104, 000 per person in the US. We spend more on debt than we do defense. Meanwhile the government keeps printing money and handing it out.

[preciousmetals]

Its amazing how the small business owner has to watch every nickel to stay afloat and be subject to the IRS ..but Washington is like bunch of drunken sailor's funneling money into their own coffers on your grandchildren's backs!!

[Ironstarfish]

Notice topics like this don’t get many views or likes??? Everyone knows it but no one wants to admit the gravy train is over and time is running out

[cyrix_]

The Government needs to call a debt consolidation service and get it down to a low manageable monthly payment.

[toddlane]

I remember everybody freaking out when we hit 3 trillion. And our government said hold my beer, and here we are.

[justcallmejohn]

I guess cutting taxes before cutting spending was a bad idea!

[cheezybred]

Remove tax loopholes for billionaires and send it to the debt

[chipsatterly]

Remember 1982?? remember the Fed Fund Rate then?/? Imagine paying even 10% interest on a National Debt of $35 Trillion. Not to mention a possible 15%. Scary stuff.

[FourthWayRanch]

Were close to everything falling apart, tgeyve given up policing the roads already.
Selling our oil is stupid, we need it

[elephantroom]

What school did the government go to? Their accounting skills suck. YOUR FIRED!!!

[karrr]

About ANWR that Kevin mentioned. Even if the US start exporting oil on the levels that Saudi Arabia does, it will reduce the debt problem but hardly solve it. For instance, the US now pays about a trillion dollars annually in interest payments alone. Saudi government's entire oil export revenue (not profits) is less than that.

[ChatGPT]

Every American should be ashamed at what has happened. Every citizen is in it for a third of a mill and we owe as much as the rest of the world combined. All because of incessant greed and the need for instant gratification, at the expense of our kids and grandkids.

[Random-wbik]

Love this idea but it’s incredibly optimistic thinking that any sort of tax would not have earmarks for special interests

[dannypowers]

Chuck Schumer said all our country owes is the interest. 😂

[pronational]

the only candidate that speaks of it is Kennedy.
trump and Harris have only grossly contributed to it.
Kennedy in 2024.

[ytfeverguy]

Translation: Long live private equity. Thanks Kevin.

[toddlane]

Cut government spending. Grants and give aways to other countries along with across the board pay cuts for politicians.

[heinzbucksandcastle]

The people in WASH will do nothing until the bond market explodes. Then they will forced to do something.

[miken]

Annual deficit is $2 trillion, US gets it's revenue from Income Tax, average income tax on $50k/yr income is $8k, US would need 250 million more workers earning $50k/yr paying $8k/yr income taxes just to erase the deficit, don't see that happening.