Answer: STOP UNCONSTITUTIOAL GOVERNMENT SPENDING, THE SOURCE OF INFLATION AND OUR DEBT, BEYOND THE GDP.
Politicians from both parties are equally guilty of the coming economic debacle, some of them are too stupid to realize what they are doing, others are perfectly aware of what they are doing and are deliberately trying to blow up the economy.
Hello Germany 1932! We are catching up with their records.
This condition is 100% related to Biden’s massive multi-trilion$ domestic spending programs. Meanwhile the populist controlled GOP house members rail and scream against the pittance, paltry aid to places like Israel and Ukraine, instead of the U.S. border, when there are trillions that can be denied for Biden’s domestic spending and some that reduction sent to the border, but where is MTG holding everything up for that?? She’s not and neither are most of the other psuedo-conservative populists in Congress, They rail against “Ukraine, Ukraine” when they should be stomping their feet over Biden’s trillions in inflationary spending and borrowing for his domestic programs. THAT is what is hurting us the most.
Gold is starting to make some sense.
Completely useless statistic. What kind of debt is it? Politicians are such shady people.
Absolutely nothing will be done about the debt unless we have a majority in both the House and Senate like MTG and Rand Paul.
I wonder how long it will be before our wonderful government will empty out Ft. Knox’s gold bars to pay for their fiasco?
The only plausible way out of this is a combination of SUBSTANTIAL cuts in spending, as in the abolition of entire departments and entitlements and massive tax increases. This will hit the middle class extremely hard as that is where most where the real money is.
Most politicians know this but they insist on whistling past the graveyard. They don’t want this to hit on their watch. It will be uglier than most can imagine.
There is no stop. There is only the plan.
There’s an old saying, “That which cannot continue forever will therefore by definition stop”. This WILL stop when we collapse, but the lead-up and the finale will be a horror no one wants to live through.
America is unlikely to elect people who would “stop” any of this.
$60 trillion of budget on the books with at least $210 trillion in future, unfunded liabilities, as well as the $145 trillion that Dr. Mark Skidmore has found missing in HUD and military spending that is now hidden away behind national security brings us some $300 trillion in debt.
Think we can pay that back?
Dr. Mark Skidmore and the missing $145 trillion.
https://www.youtube.com/watch?v=kxJ0fgqX8b0&ab_channel=ArcadiaEconomics
Another confusing article from the dopes at Confounded Interest.
Congress creates the US National Debt, not the Fed.
Congress authorizes and orders the amount of debt to be issued, and the Treasury Department funds it by selling Bonds.
Treasuries are sold at weekly auctions. Interest rates are determined by what Primary Dealers are willing to pay. They aren’t set by the Fed, the Treasury, or anybody else.
If we want to reduce the size of the US national debt and the amount of money paid out in interest we have to figure out how to get Congress to quit spending. No one has figured out how to accomplish this.
TAXATIOIN without representation
INFLATION without representation
INVASION without representation
DEBT NATION without representation