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E.J. Antoni--If we continue inflating away the value of the federal debt, it'll substantially cut the real value of interest payments at the end of the decade from over $3 trillion annualized to about $1.8 trillion annualized - that's the play:

We are fast on our way to smashing all previous records for interest on the debt relative to the size of the economy - today's slight upward revision to nominal GDP doesn't even put a dent in the projection:

@RealEJAntoni Savings rate has tanked, now below 3% - not only have folks expended their pandemic-era savings but have also eaten through their pre-pandemic savings as well; consumer is on last legs.

Nothing new about debasing one's own currency. it happens throughout history, now it is the turn of the U.S.

https://premium-ancient-coins.com/en-us/blogs/news/the-fall-of-roman-coinage-the-silver-debasement-disaster?srsltid=AfmBOop1ETF1-n-jZ-Sr748TqyA926YqyX9LII79sDlqnxXq-4FeP8tm

The Fall of Rome has been attributed to many different causes – Barbarian invasions, political division, even Christianity.
But what about inflation?
That is, inflation caused by watering down the money supply through debasement of silver coinage.
Fiscal policy is perhaps not as flashy as widescale war or the death of polytheism, but it is equally as important (if not more!).
Instead of finding ways to raise revenues to pay off crippling war debt and make up for the dwindling silver supply,
ruler after ruler of Rome decided to decrease the value of common coins by altering their silver content.
Eventually, Rome was left with a failing monetary system based on a weak currency containing 2% the amount of silver that it originally had.

1972 - Gallon of Gas - $0.15
1974 - Gallon of Gas - $0.25 - A monster increase
2024 - Gallon of Gas - $4.00 give or take - THAT is Inflation