U.S. Public Debt Probably Will Reach 40 Trillion Dollars This Year

President Trumps second year in office will have U.S. public debt reaching 40 trillion dollars. Interest on the debt is about one trillion annually. The debt is a consequence of economically uncreative politicians borrowing money to finance the government. Someone said long ago that the U.S.A. doesn’t intend to pay off the debt; that it never will.

When President Trump leaves office the bet may be around 45 trillion. One term of a Democrat President might cost 10 trillion more. I suppose would could estimate the cost to the public debt hile that each Presidential candidate would cost and decide if the policies each says they would pursue are worth the extra ten or fifteen trillion over four years.

Conservative estimates of the cost of interest on U.S. public debt in ten years are about three trillion dollars annual. To offset that taxes would need to increase 300% or government services cut by 3 trillion dollars. Obviously the U.S.A. and it’s government are moving toward economic forced options down the road not too far. Of course fixing the damage upstream is a lot easier than waiting for the dam to break.

In 12 years the public debt may be about 60 trillion dollars. That is without financing any Democrat ecological schemes to spend trillions to make the air more fresh and cool- possibly by charging billionaires capital taxes for affluent flatulence.

The present form of the economy is harmful to the environment and unsuitable for sustaining the national standard of living since it can’t keep up with the cost of borrowing money to finance various things. It borrows more than 6 billion dollars each day.

The good news is that you can make a Faraday cage for your laptop with three payers of tin foil and no gaps in it of any kind (including power holes). The bad news is that wars and the end of nations are a traditional way of liquidating public debt. All of those drones and AI operated automatic weapons tech being developed may require a civil populace to protect its own laptops from emp pulses of war eventually.

Alternatively, one might hope for a transition to ecological economics and a new axiology possibly guided by AI with materials efficiency increases to reverse debt economics as a tool for incompetent governance that outlasts individual Presidential administration.