Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It is getting worse. 2 to 5 years will be my best guess . Inflation will kill our economy with many lay offs and more printing of money . It cannot be easily fixed. Too far gone now
With other countries forming economic alliances/buying gold, and Saudi Arabia already having abandoned U.S. dollar agreement; it won't be long. The Fed can't handle this type of inflation, as less greenbacks are being used for trade overseas; and therefore coming back home to roost.
Going back 500 years in history, the average shelf life of all of them is roughly 99 years.
Whether the government defaults is dependent on how these American idiots with the checkbooks play it out on a geopolitical scale.
And so far, they're using the wrong deck of cards; cuz' it's the same worn out deck.
Coincidentally, Russia has almost no debt; imagine that.
My prediction: Close to 10 years from now.
At some point, the debt will reach the point of no return. Then it's not only default time, but a reorganization of the nation, not unlike a company that goes bankrupt. And part of that reorganization will be getting rid of our pesky Constitution that's in the way of their grandiose plans for us.
Irrelevant. US government debt is denominated in dollars. The Fed can make dollars. Therefore there'll never be a need to default. However the debt payments may not be worth very much.
Irrelevant. US government debt is denominated in dollars. The Fed can make dollars. Therefore there'll never be a need to default. However the debt payments may not be worth very much.
Turn on the printing press to pay your bills, brilliant!.
It depends on how long, and how often, Republicans want to keep playing these "games" of brinksmanship. I think it was mostly started by Newt Gingrich. If Republicans keep supporting their elected officials who do this, it'll keep happening. Last I heard, Republicans still hadn't submitted a budget.
Quote:
Originally Posted by mirage98de
So if the Republican Party vaporized tomorrow and the population was 100% democrat, we could keep pumping the debt up trillions and trillions (quadrillions??) until the end of time and never default?
No, but if the GOP gave up its stubborn grand-standing goal to simply fight Democrats at every turn, regardless of the issue (for instance, the secret meeting, as Obama arrived, to block everything from him, no matter what), and remembered that politics is a matter of compromise, they might realize that keeping us perpetually teetering on the edge of a cliff isn't a great idea.
“After all the government's borrowing needs are accounted for, debt held by the public rises from $24.3 trillion at the end of 2022 to $46.4 trillion at the end of 2033 in CBO's baseline projections”
And that is assuming we don't have another "crisis" that costs trillions more to fight?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
