Does anybody think USA citizens should worry about the trillion dollar budget deficit

I think the time to worry about the deficit has long time come and gone

Social Security is the largest budget expenditure

Followed by the estimated 2019-2020 military spending of 989 billion Then you can go down the list to lesser numbers

1st of all where do you find a trillion dollars for a balanced budget. I suppose you could do a 10% across the board cut and/or freeze spending at 2019 levels

If you froze spending would those on social security vote out enough of their congress persons to tip the balance of power. The military industrial lobby could freeze out anybody who voted for less military spending. It would take a lot of brave souls to do even that much budget cutting and those who did vote to cut spending would likely have to consider what to do after a failed re-election

Trump keeps on with his trade war with china. What will he gain in the bigger picture

He said the USA can not be the piggy bank to the world

Well if the china thing was resolved even stevens [which it won't], that is a drop in the bucket of the larger deficit And do you really think the USA can stop the technology going to china. Heck you folks gave most of it to china for free when you out sourced manufacturing jobs to china for cheaper labour. That was the time to think about technology going to china. Today, china is more of a leader in new technology than compared to yrs past. Today china doesn't need technology from the USA unless it should happen to be netflix or some thing important like that. You gave the store away for free and now you want it back.

 Well good luck with that

Do you really think a trade deal with china will do very much for the USA. A person might as well spit in the wind as try to win anything on either side with this stupid trade war. A deal will not be a winner no matter what kind of a deal it is. It certainly wob't suddenly balance the budget. I know you say you had to do it

My question is what do you hope to gain??

Billions of soybeans sold to china?? You know china will buy the cheapest commodity on the market

So back to deficits.

You know if you tried to raise taxes enough, that would put you into recession so quick, it would make you head spin

Reducing spending is a no go for multiple reasons

What is left to do??

You know good and well you will never re-pay the debt. You will simply monitize the debt. Which leads to a race to the bottom.

The USA is BK and you know it

If you can't re-pay your debt, does that not mean you are BK???

So keep on printing money as that is your only hope

One day those who own the most gold will make the new rules

Does anybody know if the USA has enough gold, because you had better hope so if you want to survive the day of reckoning. That day will come when a major currency loses faith with the world and faces a run on it's banks deposits.

If the country is a major, big enough country, and is forced to print fiat  to avoid an inability to pay the depositors back their money, then you know something bad is coming 

That is the time when deficits don't matter and the countries or country with the most gold will write the rule book

Has anybody done an audit of the amount of physical gold the USA owns and has in storage, that is not leased out or other wise owned by other countries

When the USA went off the gold standard I think that is when the USA started the down hill slide to BK. Maybe before the USA went off the gold standard the writing was n the wall. I dunno

I could be wrong, but I don't think deficits really matter all that much..  I think it will likely take a long time to find out if deficits really are something to be concerned about, in the USA or any other major country with a reasonably large economy You can have as many zeros as you want, what does it really matter. Faith in your currency is what really matters. That is when you worry about the number of zeros. If the number of zeros get out of balance with the rest of the world, then you might worry about a loss of faith in your currency.

That is why I don't think deficits make a darn bit of difference, in the world of finance, assuming a reasonable balance with other major economies.. The world either accepts your little piece of paper or it doesn't. Settlements either get made or they don't. Plain and simple

If the world has faith in your currency that is the only thing anybody has to worry about. I think the world will accept USD for a very long time.