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The Gov’t Will Spend More On Interest This Year Than Defense Or Medicare

LOL...Reality doesnt care about feelings. Voters vote on feelings, so this is the result.
 
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2019 total US debt - 23 Trillion
2023 total US debt - 33 Trillion

I don't think I can say anything more to convey just how fucked the poor and middle class are.
 
Franko said:
2019 total US debt - 23 Trillion
2023 total US debt - 33 Trillion

I don't think I can say anything more to convey just how fucked the poor and middle class are.
Click to expand...

The truly poor aren't affected by this. One might argue that they benefit a bit.

The middle class are indeed fucked.

The numbers are even more entertaining when going back further:

fredgraph.png


So for approximately 6 of the last 40 years, we saw a decrease in debt as a percentage of GDP (and in fact a couple of those years there was actually a nominal decrease in total debt). This was driven mostly by inflows of FICA payroll taxes (SS/Medicare payments) during the Boomers' best years.

The rest of the time, the debt grew because of crises (there's always a crisis) or promises of greater-than-average GDP growth sometime in the future or just politicians proclaiming that "deficits don't matter".

In hindsight, it's both hilarious and sad to revisit things like the Paul Ryan "Path To Prosperity" proposals, or the "Penny Plan" (which has now become "The Six Penny Plan" in acknowledgement that a 1% yearly reduction in only a part of the budget is absolutely meaningless).
 
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It's fiat monopoly money anyway. There's nothing to back the paper it's printed on. So they can just print some more to pay it off.
The plan for central bank digital currency is going as planned. Gov. Will have complete control of the citizens at their fingertips.
 
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DarnYankeeUSMC said:
It's fiat monopoly money anyway. There's nothing to back the paper it's printed on. So they can just print some more to pay it off.
The plan for central bank digital currency is going as planned. Gov. Will have complete control of the citizens at their fingertips.
Click to expand...
Sweet story son . You sound scared .
 
DarnYankeeUSMC said:
It's fiat monopoly money anyway. There's nothing to back the paper it's printed on. So they can just print some more to pay it off.
The plan for central bank digital currency is going as planned. Gov. Will have complete control of the citizens at their fingertips.
Click to expand...
That is correct. All those who say otherwise are either in banking & want to keep the ball rolling or, don't have a fucking clue. The latter applies to most!
 
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Haney said:
Sweet story son . You sound scared .
Click to expand...
Laughing, when it all goes to shit over servicing the debt, we'll see who has the tallest boots. You stop that inked paper B/S or ink on a ledger, & get the popcorn out. W/perception gone, it all falls apart rapidly. Those w/o life skills are fucked, the way it should be, and will be again.
 
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