Posted on 03/06/2022 3:20:40 PM PST by fhayek
$7 trillion - $4 trillion
Ronald Reagan used to talk about it. As a frame of reference, the total cost of the federal budget for Ronald Reagan's entire first term was just a tad over $3 trillion. This is the deficit for this year alone.
So, click on the website, pop the cork off your favorite beverage, and have a hearty, sardonic, maniacal laugh along with me as we watch the odometer turn over. It's not like we can do anything else about it.
It’s transitory. Or something.
That makes me feel better...
The idiots in our government are spending us into failure. Totalitarianism is what happens after the financial collapse.
Exactly! 😜
Don’t worry the dollar won’t be worth a rouble after Brandon gets done.
I remember Reagan creating the Misery Index as a way to pound Carter. I think it was the addition of the numbers for inflation and interest rates. That was a winning strategy for him at election time.
Biden has a plan to tackle the budget deficit - more spending.
$1 million to go!
America’s empire is steadily going bankrupt.
As it goes bankrupt, its going to absolutely squash your political and property rights. Many people tied to the government and the empire (and there are A LOT of them) are going to declare you their enemy and cheer it on as it happens.
Quick give some more money to Ukraine !
“As it goes bankrupt, its going to absolutely squash your political and property rights. Many people tied to the government and the empire (and there are A LOT of them) are going to declare you their enemy and cheer it on as it happens.”
About 20 trillion sits in IRA’s and 401K plans — the retirement savings of individual American working people. That nest egg is going to soon become very attractive to a government on the edge of bankruptcy.
This is being done on purpose. You cannot have the “Great Reset” with the dollar as the reserve currency tied to the United States.
They have to tank us to remake the world as the Davos crowd wants.....
PS - our government spending is criminal. It is generational theft and an illegal tax through inflation.
people tied to the government and the empire (and there are A LOT of them) are going to declare you their enemy and cheer it on as it happens.
This is a pretty sweeping statement. I know a lot of people who work for the government who are very concerned about the fiscal insanity out of DC not because it impacts them (although it does and will) but what it is doing to their children and grandchildren.
The sad part is no one cares.
Even on this site posts about the debt/deficit get only a handful of replies.
* Does the debt matter more than Ukraine? Yes
* Does the debt matter more than Covid/Vaccines? Yes
* Does the debt matter more than boys in women’s sports/ Yes
But all of those issues probably get a thousand posts than every one post on the debt.
You know, that thing! Makes you yearn for a Republican president whose last full in office only added a paltry $3.1 trillion to the deficit. (sarcasm?)
The key figure is the debt to annual GDP percentage.
Most experts who have studied this over time conclude that anything over 100% means that a currency “reset” will happen to a country—not if, just when....
The last number I saw is that we were at 130%.
The petrodollar is allowing the US to beat the odds—but the current decoupling of East and West is very close to ending it.
Yep
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