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The national debt is sustainable. Pay the interest forever.
That doesn't make sense in your household, but only because you will lose the ability to earn income. Countries to not retire like people do. They do need to grow in terms of GDP, but countries are not run like households for very good reasons.
The national debt is too high, and needs to be brought down. And it will. It'll take time and changes, but it'll be OK.
well, on the national debt ... we do pay for long-term items with this year's money, so a much smaller deficit will always be with us unless we REALLY start taxing people.
Many states will have to go through bankruptcy. There’s literally no other way.
End result will be huge reductions in state and local services, deteriorating roads, schools, etc. Massive government layoffs, government salaries will be cut or frozen and pensions will get decimated.
But, once this is over with, we can start rebuilding on a far better foundation. I’m actually looking forward to getting it over with and moving on. Unfortunately democrats are doing their best to delay the inevitable.
Create inflation. Pay the debt off with ever cheaper dollars. Problem solved. Good luck convincing the left to end the lockdowns and economic restrictions they are using to disrupt Trump's precious economy though.
Many of the people making high level economic decisions follow Modern Monetary Theory (MMT), which basically says that the government taking on debt is good for the economy and government budget surpluses cause recessions and increased unemployment. MMT also says that government can never be too far in debt because controls the currency. That is, the government could eliminate its debt whenever it wants by printing more money.
Whether any of this is rooted in reality is another issue, but I’m just saying that this is what a lot to f economic advisors believe and that’s why no president in recent history has truly cared about deficit spending.
A national debt on money FEDs and commercial banks pull from their butts can grow forever for as long people can be entices (or forced) to work for the money. We live on the human farm owned and operated on behalf of money masters running usury based financial system. The objective here is to keep you working using financial instruments instead of whips. Nothing but a mega disaster will collapse the scheme.
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