Posted on 01/08/2024 11:01:04 AM PST by Kaiser8408a
While ”Angry Joe” Biden screams about democracy (while having his attorney general prosecute his likely Presidential election opponent), and he and Congress continue to spend and borrow like there is no tomorrow (not a bad assumption since Biden is a sickly 81, Pelosi is 83 and assorted other aging policitians in the District of Corruption will never live beyond 10 more years), we are now seeing more attention to the boiling frog problem facing our children and grandchildren. I call this “Biden Stew.”
The country’s soaring national debt — which recently surpassed a record-high $34 trillion — is akin to a “boiling frog” for the economy and Wall Street investors, a senior analyst at JPMorgan Chase warned.
Michael Cembalest, who runs JPMorgan’s market and investment strategy unit in the bank’s asset management division, predicted dire consequences for the economy if the Biden administration doesn’t start tackling the debt.
“Entitlement payments” refer to Medicaid, Medicare, Social Security, unemployment insurance and other aspects of the federal welfare safety net.
The national debt, which is the total amount of outstanding borrowing by the federal government, stood at $34.006 trillion as of Monday, according to the Treasury Department’s official debt tracker. And growing REALLY fast!!
While Biden pushes for MORE Ukraine war funding and cancelling student debt (like a demonic Daddy Warbucks from Little Orphan Annie), he ignores unfunded entitlements of $213 TRILLION.
To be sure, the Biden Stew has been a trainwreck for decades, but Biden has the golden opportunity to act like a leader instead of “Angry Joe” screaming about Democracy as he and his minions attempt to cancel their politicial opponents.
It doesn’t help that The Federal Reserve Board of Governors seems like the cast of the ice hockey flick “Slap Shot.”
(Excerpt) Read more at confoundedinterest.net ...
Sorry Americans, but your ONLY option to save the Republic will be to bankrupt corrupt, ideologue-controlled government, and even that may not work.
Like Milei in Argentina, shutting down our central bank to eliminate government’s ability to issue unlimited debt will be a discussion we will all soon be having
4 more years!4 more years! Good God, I can’t last 4 more days. Lord, we need divine intervention. Amen.
speak for yourself....I can’t afford to be bankrupt....I don’t have a govt pension....there will be blood in the streets...
Please read more carefully. I said "bankrupt government"
Don’t forget state & local debt. That’s almost another $4 trillion.
“There is an infinite amount of cash at the Federal Reserve”
https://twitter.com/WallStreetSilv/status/1635470213377323008
Hmm...$200+ Trillion in unfunded liabilities?
Hey, what’s all the fuss? I can afford $150 for a loaf of bread. And starvation is not too bad a way for this old timer to die. You just get tired and eventually fall asleep. Besides, Trump is another Hitler!
/sarc
He’s just the current figurehead in a long line of enablers.
Looks like the US is another Argentina in the making as it is well on its way.
.
The other day I heard some radio talk show host say that addressing the economic disaster the Biden regime has created should begin with the confiscation of every single dollar and everything else of value belonging to him and his criminal son Hunter.
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