Pres. Roosevelt signed the Public Debt Act, raising the national debt ceiling to $49 billion. Adjusting for inflation it would take our 117th Congress about 56 days to spend that money, which is roughly $1 trillion in 2021 dollars.** And we aren’t mobilizing for a global war.
Not to drill too deeply into economics, but it is worth mentioning that 80 years ago our national debt was just 40% of our gross domestic product. Today’s official debt, not accounting for unfunded liabilities, is 140% of our GDP.
the official debt is greater than annual GDP. The unofficial debt is tens of trillions higher, I’m sure. Where is the money to pay the debt going to come from? Does the government have a secret stash of Bitcoin, to be sold as needed to cover it?
A scene in the movie “Darkest Hour” has Churchill speaking on his direct line to FDR during Lend-Lease. In the conversation, Churchill says he needs planes- FDR says he can’t fly them to a brit aircraft carrier00 these were Brit purchased bombers (Hudsons?) because of the Neutrality Act and other laws recently passed. He then offers to fly them to Canadian border. Here’s a clip from the movie.
“Look we could possibly..we could take your planes to about a mile from the Canadian border, and you send in a horse team over from Canada, nothing motorized.... we could do that, Winston...” Apocryphal not an actual quote, though the calls had to have been recorded.
Here: https://www.youtube.com/watch?v=Wo4U1SqnRpA
LET’S BRING BACK THE 5 CENT CANDY BAR
When politicians particularly members of today’s in name only democrat party started pushing for a higher minimum wage. The focus should have been on purchasing power of the lowest coin of the realm. Each time it was passed the price of an item like an individual candy bar and everything else increased. What began at 5 cents in the 1940’s was when the minnimum wage was 50 cents an hour . As the rate steadily increased so did candy bar prices to what it is today. The result has always been since it began devaluing the purchasing power of the dollar.
Storyline is based upon a German BB (think Bismark) in the Iceland Gap circa 1940-1. The Costal Command is the coordinating group to bring air&sea attacks against it.
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