This isn’t the 80’s, they raise rates like Volker then you say goodbye to the government and look for a collapse. Between health care spending, interest on the debt, social security it will not work.
Now if they cut Medicare and Medicaid, we can make it, and i mean to Zero. Prices will totally collapse in health care, lots of unemployment, and hospitals closing, but you will be able to pay for a-lot of stuff with cash, insurance will be gone or only catastrophic.
Interest rates will have to go up a minimum of 1000 basis points, the government would have to balance the budget and austerity will be in.
That sounds just peachy.
Riots will be in when they cutoff EBT cards and Section 8, followed shortly by heads on poles when Social Security and Medicare are reduced or abolished.