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Wow, Yahoo running an honest piece on the liberal's dangerous practice of deficit spending. I just wonder how many times they wrote articles criticizing conservatives for "wanting to shut down the government" when they threatened not to burden the country with more debt (continuing resolutions)?
the idea that "Biden" is doing great to get the annual deficit back to $1T, when Trump was rightly howled at for allowing it to get that high, tells us everything we need to know.
As individual consumers, we can "deficit spend" one year - when we buy a home for example - because we won't deficit spend EVERY year, and because the interest/payment on that 1 deficit item is fixed (generally).
This is the core issue with QE and ARP. Every year we deficit spend, we have to "create money" for that deficit, and we have to pay "someone" willing to take that debt. Even if deficits were $0, we've got $30T of debt we now hav to pay rising interest rates on.
the idea that "Biden" is doing great to get the annual deficit back to $1T, when Trump was rightly howled at for allowing it to get that high, tells us everything we need to know.
As individual consumers, we can "deficit spend" one year - when we buy a home for example - because we won't deficit spend EVERY year, and because the interest/payment on that 1 deficit item is fixed (generally).
This is the core issue with QE and ARP. Every year we deficit spend, we have to "create money" for that deficit, and we have to pay "someone" willing to take that debt. Even if deficits were $0, we've got $30T of debt we now hav to pay rising interest rates on.
When the Federal Reserve buys the debt, which is what QE is, they will never require repayment or unwind the debt unless there's major inflation according to their manipulated inflation numbers.... it's basically like a form of debt monetization. They claim to be trying to control inflation. We shall see if they keep their word. There will always be more inflation than they state because their numbers are manipulated.
There is too much debt to service and inflation/monetization are the only options at this point. There are too many unfunded liabilities. There's no way to "balance the budget" without causing a depression.
Enough research into psychology, evolution, etc. has me convinced all nations and cultures eventually destroy themselves and have to rebuild. I see the policies and viewpoints of many of the elites assuming this "2030" green agenda is actually real, and it's much of the same behavior of past leaders. Maybe they have good intentions, but their methods will destroy nations. We have also become victims of our own success.... soft.
Where are those 14 Noble Laureates in Economics now that Biden kept quoting as telling him that we need to spend our way out of the recession? Bueller Bueller Bueller ??
I guess they were just a figment of Biden's imagination that he could lie about?
I agree OP, the National Debt, out of control spending and I would add the wide open Border that is costing us Billions of Dollars will be the end of us.
we've already destroyed our country with our irresponsibility we just don't know it yet. It's like a giant asteroid in space is already on trajectory to wipe out life on earth but for us it's our deficit and we just haven't seen the ramifications play out. We can barely keep our nation together and that is during "good times". We are soft like marshmallows and during the slightest of recessions if not a depression the fabric of our society will come apart.
If an honest politician came on the air and told us that our country is broke, we have no more money, I think that people would be aghast at the news.
A politician tells us that the country is 1T in debt: (applause)
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