At this point the Corona virus has cost the United States 2.2 trillion dollars in new government debt, billions in lost revenue and wages, and millions of jobs.
China holds a significant portion of the United states debt.
In an ideal world GEOTUS would tell China "we are no longer paying interest or principal on that debt. Fuck you and your bioterrorist ruling class"
Hell, I'd go a step further and just default on all Chinese held debts
Still less than Obama, though.
He had what...6 trillion in his first term?
Still less then Spent in The Middle east the past 20 years. At least this is staying in Our country. But some of it could be spent more ton the People instead of these Large Banks and other bullshit
Completely agree.
I agree that it's a lot of bullshit covering up for other bullshit
but the number could get a lot higher and we'd still be fine once it all gets rolling again
the shutdown is nuking the middle class and small business
throw all the fake money you can to speed up the opening as far as I'm concerned , no one was paying off the debt anyhow ... in a second term trump will find a way to juice up the economy and we will outgrow the new fake debt
saving the middle class is and should be Trump's priority
and 100% let China lose its investments here as payment for their negligence/arrogance
It's already more than that. The amount of work lost has cost a shit ton in lost taxes. Theese things don't happen in a vacuum.
fuck china I email all companies before i purchase shit only to ensure they are not producing in china, I’m glad we are off reddit the CCP is out in full force on health care subreddits
The quarter warriors are cleaning up during this virus
If trump loses, we is el fucked.
If you don’t pay the interest you promised, you are defaulting on your debt. And that would result in an immediate, substantial downgrade of our bonds, raising our overall interest payments to unsustainable levels.
Our interest payments to China are fairly low - probably $50 billion a year or less, so we couldn’t recover our losses from this virus by withholding interest payments anyway.
The only possibility would be some kind of lawsuit where (assuming we win) the USG could “confiscate” the bonds as a full or partial payment. This would generate much more income and not result in a debt downgrade since it wouldn’t be a default.