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Posted on 5/20/25 at 12:15 am to TBoy
quote:Horeshit In 2007 our entire federal budget was $2.5T. And our deficit was $165B. This year we will end up spending around 2.5x that much money, with just short of a $2 Trillion in deficit. IOW, today’s deficit is almost as much as the entire budget was in 2007. If spending was the same as 2007, we’d have almost $2 trillion in surplus.
We can’t cut our way to paying down the national debt. We will have to increase revenue.
Posted on 5/20/25 at 3:35 am to BuckI
You know it really is simple. When me and you right a check and it bounces the bank charges you with an over draft charge, you ain't got enough money to cover it.
The federal govt just prints more money to cover the hot checks, frick it ain't there money, it's mine and yours all they do is talk and never change anything
The federal govt just prints more money to cover the hot checks, frick it ain't there money, it's mine and yours all they do is talk and never change anything
Posted on 5/20/25 at 5:58 am to Taxing Authority
quote:Unfortunately, in a fiat system, you're dead wrong.
The government doesn’t get to choose.
Posted on 5/20/25 at 6:06 am to BuckI
The only answer is growth.
So, naturally, we are being sold on higher taxes.
So, naturally, we are being sold on higher taxes.
Posted on 5/20/25 at 6:25 am to TBoy
quote:
We can’t cut our way to paying down the national debt. We will have to increase revenue.
When you’ve dug your chain saw deep into your thigh, and you’re bleeding out, you stop the bleeding. You worry about flu season later.
Posted on 5/20/25 at 6:26 am to PerplenGold
Default isn't as bad as folks make it sound. Hell we defaulted twice in last century.
Posted on 5/20/25 at 10:39 am to Sweep Da Leg
quote:
You’re a retard. We’re not the only one with lots of nuclear bombs
Yeah, but that is exactly the point. Public debt doesn't really matter to great powers when every great power possesses the means to end civilization. You're not going to start a war over the rug pull if they cancel your bond holdings and you're not going to stop trading with them for the same reason. Modern monetary wonks try to find some scientific reason for why money isn't real anymore when they're just simply observing the great power position in the nuclear age. Classical monetary and fiscal realities do not exist for those in the top cut. China and the US have fundamentally silly monetary and fiscal policy but who is going to check them for it? The same cannot be said for the Venezuela's of the world.
Essentially, I'm sort of suggesting that great power treasury bonds are like a nuclear bomb protection racket. Everyone hoists up these large economies because instability is potentially civilization ending.
This post was edited on 5/20/25 at 10:54 am
Posted on 5/20/25 at 10:40 am to DesScorp
quote:
The debt will never be paid and everyone in DC knows it. At some point in the future, world governments will all default and start over.
I've wondered whether or not the debt will ever be paid. I'm glad I read your response.
Posted on 5/20/25 at 11:12 am to aTmTexas Dillo
the world will default and we'll start over?
prior world history would say nations fail (weimar germany, USSR, Roman Empire, British empire) replaced by others (usa). if we don't get our act together, we'll either devolve into nation states and or end up in war with china. china will replace the us as the world superpower. they're building small modular reactors, educating physicists, etc.
we're arguing about shells on the beach and transgender bathroom. we had a prior president that couldn't walk up stairs, lied to about his condition only to be replaced by a republican congress that is about to enact another bill adding 3 trillion to the deficit.
the us experiment will end in debt spiral hyperinflation, china taking our place, not default and start over unless bessent / trump just beat the shite out of the republican congress. It's kinda now or never. The window is here for the next two years to shrink the government and reduce the deficit. If they add to it then we'll have Dems again in a few years and we'll be like Greece for awhile then down the drain.
prior world history would say nations fail (weimar germany, USSR, Roman Empire, British empire) replaced by others (usa). if we don't get our act together, we'll either devolve into nation states and or end up in war with china. china will replace the us as the world superpower. they're building small modular reactors, educating physicists, etc.
we're arguing about shells on the beach and transgender bathroom. we had a prior president that couldn't walk up stairs, lied to about his condition only to be replaced by a republican congress that is about to enact another bill adding 3 trillion to the deficit.
the us experiment will end in debt spiral hyperinflation, china taking our place, not default and start over unless bessent / trump just beat the shite out of the republican congress. It's kinda now or never. The window is here for the next two years to shrink the government and reduce the deficit. If they add to it then we'll have Dems again in a few years and we'll be like Greece for awhile then down the drain.
This post was edited on 5/20/25 at 12:47 pm
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