Everything can be summed up into one little four letter word: DEBT.
We have waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaay toooooooooooo much of it, private and public.
Here is something scary you won’t hear in the press and the LIV (Low Information Voter) will never think about.
Our Federal government is now so large a part of our economy (by current calcs) that their spending affects the GDP. When they “don’t spend so much” the GDP slows.
They have been pumping for so long to inflate the numbers that any curtailing of spending going to affect the US economy and GDP.
We are officially hooked. Our economy is now partly dependent on our FED spending tax dollars they don’t have. The whole GDP calculation has to be re-worked for the private sector.
Remember, the FED produces nothing that creates wealth. They have no product or service that can be used, bought, sold or traded. The FED cannot create wealth.
At least when you things, it provides heat and light. Heat and light can be sold and is usefull. In this way, burning piles of money would be more useful than sending money to the FED.