It's math, not politics. We are nearing the end of a long exponential function which will inescapably explode upwards. Any president making the required deep cuts will be savagely attacked and run out of office by the ignorant masses. It's a lose-lose situation for all the pols who must make the decision... and every month that goes by in avoidance, makes the ultimate solution increasingly more painful.
Blessent mon coeur d’une langueur monotone.
The entitlements will be cut.
It’s just a matter of whether they are cut in a managed way, or in a catastropic failure.
These kinds of articles may be of interest to those who are now only getting up to speed. But for those of us who have been on top of this since the beginning know how it's gonna end - badly.
I used to fall in the deflation camp - I actually thought (silly me) that governments would follow the rule-of-law with regard to defaults and proceed via 'normal' bankruptcy channels.
Now I know better - they've chosen effective default via currency destruction. After all, this allows them to retain their bonuses & positions of power.
At the end of the day, it functionally doesn't matter if (a) they tell the 47% there is no more money; or (b) they lock the CPI and pay the 47% pennies on hundreds of dollars.
Option B keeps the structure in place - for awhile at least, which is all they're hoping for at this point.