National debt, how much longer before this bubble bursts?

[CamoDeafie]

Since Mexico is near empty, I'm looking...

I Do not think its near as empty as you think it is

 

[po18guy]

I Do not think its near as empty as you think it is

A joke. Actually DW and I are considering Antigua, Guatemala, as there is less crime than in the US. Less inflation. Less taxes. Some of the world's best coffee.

 

[P7M13]

https://www.wsj.com/articles/you-had-one-job-5bc6ff30?st=d4qmhcov8ztvyq3&reflink=desktopwebshare_permalink

From the article:

Here we go again today as Mr. Whitehouse commandeers the Senate institution that is supposed to oversee taxpayer funds for yet another hearing devoted to his climate obsession and specifically an investigation of "Big Oil." Imagine how much waste, fraud and abuse Mr. Whitehouse's staff could uncover if directed to investigate the annual federal budget, currently soaring toward $7 trillion. Just think of what the committee staff might accomplish if Mr. Whitehouse would allow them to do the job taxpayers are paying them to do!

It's too kind to call this a dereliction of duty in ignoring our nation's budget crisis because if the result is more taxpayer funding for unproductive wind and solar projects then it makes the crisis even more severe. This is worse than neglect.

 

[Nosferatu]

I've been hearing about this national debt thing being the nail in the coffin that brings down the country for good since I was old enough to register such a thing.

~40 years later and continuous, exponential increases in the debt, here we still are, talking about how it's going to kill us all.

I guess I'm just not convinced it's really the big boogieman it's made out to be. That's not suggesting that it's a GOOD thing, however, just for those who like arguing for the sake of arguing.

 

[CamoDeafie]

I've been hearing about this national debt thing being the nail in the coffin that brings down the country for good since I was old enough to register such a thing.

~40 years later and continuous, exponential increases in the debt, here we still are, talking about how it's going to kill us all.

I guess I'm just not convinced it's really the big boogieman it's made out to be. That's not suggesting that it's a GOOD thing, however, just for those who like arguing for the sake of arguing.

The thing is the fact the US Dollar is still the leading world reserves currency, and has been since the Bretton Woods Agreement of 1944, and then the Jamaica Accords of 1976.. so, unlike Zimbabwe or Venezeula's economies where hyperinflation destroyed many things, or even unlike the Wiemar era (interwar) where inflation had an outsize effect on political climate in Germany, and when Great Depression happened to the US... the fact that the USD is the world reserve currency means that if the US economy completely implodes, so does the economies of much of the world, that's tied to the USD. At least, from this plebian's point of view as a non-economist

https://www.reuters.com/markets/currencies/us-dollar-remain-worlds-reserve-currency-feds-waller-says-2024-02-15/