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re: $34 TRILLION of DEBT must be fake. Not a damn soul in DC seems to worry at all about it
Posted on 4/20/24 at 4:31 pm to Covingtontiger77
Posted on 4/20/24 at 4:31 pm to Covingtontiger77
Debt service is like taking a crap on a bear trap.
0
Posted on 4/20/24 at 4:59 pm to Covingtontiger77
$34 trill today isn’t worth near what $34 trillion was worth before Biden took office……
Posted on 4/20/24 at 5:04 pm to Covingtontiger77
Everyone talks about the national debt.
Everyone mentions how much of the federal government budget is merely servicing that debt.
No one asks enough questions about who those debt payments are actually going to.
Everyone mentions how much of the federal government budget is merely servicing that debt.
No one asks enough questions about who those debt payments are actually going to.
Posted on 4/20/24 at 5:10 pm to Covingtontiger77
Option A) global currency reset
Option B) world war
There is no option C.
Debt service will force us to take option within the next 5-10 years assuming we don’t lose reserve currency status before that in which case we will have to choose immediately.
Option B) world war
There is no option C.
Debt service will force us to take option within the next 5-10 years assuming we don’t lose reserve currency status before that in which case we will have to choose immediately.
Posted on 4/20/24 at 5:12 pm to Covingtontiger77
quote:
34 TRILLION of DEBT must be fake. Not a damn soul in DC seems to worry at all about it
Makes one wonder why they talk about SS being insolvent soon. How so when you can simply print more money?
This post was edited on 4/20/24 at 5:12 pm
Posted on 4/20/24 at 5:12 pm to tide06
They will use the military before they lose it. In 30 years America will be like Russia in the 90's.
Posted on 4/20/24 at 5:20 pm to Covingtontiger77
$34.67T right now.
We add $1T every 100 days, roughly.
We hit $34T first week of January.
We'll be at $35T around May 1st.
We add $1T every 100 days, roughly.
We hit $34T first week of January.
We'll be at $35T around May 1st.
Posted on 4/20/24 at 5:21 pm to Revelator
quote:
Makes one wonder why they talk about SS being insolvent soon. How so when you can simply print more money?
SS is not insolvent.
It was/is stolen to pay for more war, i.e., forked over to military industrial complex companies/multinationals.
Posted on 4/20/24 at 5:23 pm to Nosevens
quote:
I get what you are saying but it is actually just money “borrowed “. It’s closer to 100 trillion when factoring in obligations outwards
Technically, if we assume that we never crash, it's infinite, because I imagine that figure relies on future SS/Medicare payments, right?
This is why SS/Medicare have to be the first focus.
Posted on 4/20/24 at 5:26 pm to Covingtontiger77
Every congressman...
Posted on 4/20/24 at 5:27 pm to loogaroo
quote:
Every congressman...
Talk about decreasing SS payments and you'll see plenty of voters (From Leftists to the most hardcore Patriots) mimic the same gif
Posted on 4/20/24 at 5:39 pm to SlowFlowPro
quote:
Talk about decreasing SS payments and you'll see plenty of voters (From Leftists to the most hardcore Patriots) mimic the same gif
Has proposing SS/Medicaid cuts ever been attempted before on a national stage by a serious person - historically? Something like what Frank Underwood did in house of cards.
Posted on 4/20/24 at 5:42 pm to Covingtontiger77
I hear that we add a trillion about every hundred days.
I don't see how we pay the interest on that.
I don't see how we pay the interest on that.
Posted on 4/20/24 at 6:00 pm to Samso
quote:
Has proposing SS/Medicaid cuts ever been attempted before on a national stage by a serious person
No, because it's political suicide to even mention slight adjustments (like the age you start receiving the welfare).
Trump even attacked RDS on this very issue earlier this year.
Now compare those Trump comments to these right wingers
Oh, and this is the inception
Posted on 4/20/24 at 6:06 pm to Covingtontiger77
They are certain that they will be fine (even richer and more powerful) when it all goes down.
Posted on 4/20/24 at 6:07 pm to Covingtontiger77
I honestly don't know what will happen. I know too much debt can cripple countries and cause severe destabilization. But... our empire is the biggest in the history of the world. Our presence is in almost every existing country. And on every ocean.
With our empire expanding over most of the world.. I somewhat feel that when our economy does get utterly destroyed and everything collapses, the fallout will only be brief before a new currency and system is put in place.. that is basically the same as the current one. Don't quote me on that. This is just hillbilly thinking based on how massive and all encompassing our empire is.
With our empire expanding over most of the world.. I somewhat feel that when our economy does get utterly destroyed and everything collapses, the fallout will only be brief before a new currency and system is put in place.. that is basically the same as the current one. Don't quote me on that. This is just hillbilly thinking based on how massive and all encompassing our empire is.
Posted on 4/20/24 at 6:11 pm to Plx1776
quote:
With our empire expanding over most of the world.. I somewhat feel that when our economy does get utterly destroyed and everything collapses, the fallout will only be brief before a new currency and system is put in place.. that is basically the same as the current one. Don't quote me on that. This is just hillbilly thinking based on how massive and all encompassing our empire is.
If we fall, like legit fall, everyone comes down with us in a cloud of chaos.
There is no country even close to taking over as a hegemon, especially for the long term.
There is no currency close to replacing USD. The Euro is the #2 option and Europe's backbone is the USA.
People like to compare today to when the British Empire was collapsing, but that was done over a period of time and was nipped in the bud with 2 World Wars. There was also not one, but two options ready in wait to replace it (USA and USSR). There is no USA or USSR on the horizon.
Posted on 4/20/24 at 6:11 pm to Plx1776
As Ron Paul once said, they will inflate the dollar
It's will be the old regressive inflation tax.
Tax the poor and middle class effectively.
It's will be the old regressive inflation tax.
Tax the poor and middle class effectively.
Posted on 4/20/24 at 6:55 pm to Revelator
quote:
Makes one wonder why they talk about SS being insolvent soon. How so when you can simply print more money?
The problem is SS payouts are tied to CoL. Pri ting money just means benefits go up.
It’s going to take cuts—which is about the only thing that will get an incumbent primaried. Not happening
This post was edited on 4/20/24 at 6:56 pm
Posted on 4/20/24 at 6:58 pm to loogaroo
quote:If I had $1 every time someone on here said “but it’s my money!” about SS… I’d be as rich as Chicken.
Every congressman...
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