After the cliff? After the cliff taxes will be meaningless.
People talk about how much is owed by the US govt to China, but in truth thats only a small part.
Most of the borrowed $$$ are owed to American citizens. So lots of people are going to go broke and LOTS of small - med businesses are going to bankrupt.
Food, gas and other day to day necessities are going to be unaffordable to most because we only have a 30 day supply on hand and most of their cost is in transportation or the fuel to grow them. Gas is gonna skyrocket making EVERYTHING unaffordable.
Chaos after that.
Hope I'm wrong. But think that's a pretty accurate scenario.
Oh. It starts with the military budget. They’ll suck that absolutely dry. The 47% isn’t going to let the flow of their stuff stop because of the need for a military.