Pretty interesting to consider the various outcomes. I agree no one in DC and some states care anything about paying their debts or cutting spending. If they raise taxes significantly w/o cutting spending its just deferring the inevitable. If they cut spending a bit thats simply another deferral. If they cut spending significantly the Entitled Class will riot. If they steal everyones retirement the tar & feathers come out. No matter what they do it wont be enough, the debt is just too big. They’ve (really we’ve) painted themselves into a corner. I dont see this ending well no matter what happens. I think most in DC have figured this out and are preparing for it.
I think the political jerks in DC know what is coming; but they also think they personally will not be affected since they (think) they have amassed enough wealth through decades of being corrupt to weather the storm. If the SHTF in a massive way, however, (and it looks like that’s a good possibility) no one will be immune. It’s going to get really ugly.