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re: What will it take for us to deal with the national debt?
Posted on 7/31/26 at 3:53 pm to E Redcoat
Posted on 7/31/26 at 3:53 pm to E Redcoat
we won't - we will inflate harder and harder and harder and harder and the "dealing with" comes in the form of reduced purchasing power, choice, and class mobility.
step 1 to fixing it? accept that maybe the S&P 500 won't return 20% every year for the next 10 years. can't even begin to address the debt until accepting this.
step 1 to fixing it? accept that maybe the S&P 500 won't return 20% every year for the next 10 years. can't even begin to address the debt until accepting this.
0
Posted on 7/31/26 at 4:02 pm to ErectileReptile
quote:
The country we just gave a $40 billion bailout to?
Ask yourself why you believe that. I'd really be interested to know what made you say that.
Posted on 7/31/26 at 4:08 pm to frogtown
quote:
FWIW, Argentina used $2.5 billion which they have already paid back.
Fair enough. Admittedly Argentina’s economy was not on my radar before the deal. Glad this deal paid off actually.
Posted on 7/31/26 at 4:08 pm to Zgeo
No. Very few grasp how bad the situation is—there’s no easy way around the fact we have to cut where it hurts, if we cared about actually fixing things.
Loading Twitter/X Embed...
If tweet fails to load, click here.Posted on 7/31/26 at 4:12 pm to E Redcoat
quote:
What will it take for us to deal with the national debt?
A treasury market fail/default, then elect a strong man that says he'll "fix" it.
Nothing will be done until then.
Whoever is best at pointing the fingers to blame for what happen will win
Posted on 7/31/26 at 4:17 pm to E Redcoat
Cancel all welfare and social programs.
Posted on 7/31/26 at 4:19 pm to stuntman
quote:
Ask yourself why you believe that. I'd really be interested to know what made you say that.
Like most Americans I’m not paying a single bit of attention to Argentina pretty much ever. So when you tangentially hear news about an economic deal involving them that’s probably all you know. Like I said, glad it worked out though.
Posted on 7/31/26 at 4:29 pm to ErectileReptile
Thanks for the reply, ER.
Just so you know, the swap was only 2.5B. It was swapped back in full w/ a stronger peso, and interest in Dec last year.
The media had zero interest in telling the whole story. Not bashing you at all. I'm bashing the shite media we have to deal w/ 24/7.
Just so you know, the swap was only 2.5B. It was swapped back in full w/ a stronger peso, and interest in Dec last year.
The media had zero interest in telling the whole story. Not bashing you at all. I'm bashing the shite media we have to deal w/ 24/7.
Posted on 7/31/26 at 4:29 pm to E Redcoat
quote:
What will it take for us to deal with the national debt?
99.99% turnover in Congress.
Posted on 7/31/26 at 5:31 pm to E Redcoat
quote:Yes, it must be. But not for the "reasons" in that class-warfare twitter post.
And this is part of the problem. Social security has to be on the table. Along with all the other welfare programs.
It's trying to conflate wealth and payments into social security which make ZERO sense whatsoever considering SS is taxed on wage income, and it then only a portion of said income. By the time one collects SS, they have amassed sizeable wealth from real estate, other investments, etc that have nothing to do with payroll taxes on income.
Posted on 7/31/26 at 5:32 pm to olgoi khorkhoi
quote:Latter is not an option. We already have WWII level debt and deficits. Realistically, we cannot fight a real war anymore.
there are only two options:
Default
War
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