The endpoint of chronically consuming more than you produce as a nation is bankruptcy and miserable poverty. It is not a pretty sight. Oh by the way there will be a price Americans will pay for an $18 trillion Federal debt, printing of trillions more, $10 trillion in state and local debts, $100 trillion in unfunded liabilities. It won’t be pretty either.
A big price!
The problem with that reasoning is that the people who are losing their assets are those who were responsible and did save. They're losing that because of a government that borrowed money it couldn't pay back and used it to fund programs that aren't sensible. Sound familiar?
Seems to me the people who should be losing everything are the bankers.
“It is not a pretty sight. Oh by the way there will be a price Americans will pay for an $18 trillion Federal debt, printing of trillions more, $10 trillion in state and local debts, $100 trillion in unfunded liabilities. It won’t be pretty either.”
What do you think backs up the faith and credit of the United States? It’s our governments ability to tax its
citizens directly. In the eyes of the federal government,
everything on American soil belongs to it, even the citizens
themselves. If need be they will confiscate every dime of
wealth, every square inch of property and force people
into work camps. E.O.’s and laws are already on the books
and in place for this.