Garrett
@garrett
It’s going to be very difficult to get the U.S. Debt under control without making voters angry The options are some mix of: - higher taxes - cutting defense - cutting social security - cutting Medicare - cutting Medicaid Doing nothing will result inflation eventually which could be very painful for everyone
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Geo Ppls
@geoppls
Why do you think it’s gonna be hard now if it wasn’t hard before? You’re implying it’s out of control. What do you think will happen if it keeps going up? Debt ceiling is a topic of conversation every other year and all it does is go up.
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Garrett
@garrett
It was always gonna be hard but it’s been accelerating at a much faster rate which could cause lots of issues as it relates to the U.S. Dollar and global monetary policy
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Geo Ppls
@geoppls
No, it wasn’t always going to be hard. It hasn’t been hard. OK, so you’re worried about the acceleration. That makes sense. But you know that our currency is Fiat right? You know they just print more money when we need it right? Like during Covid. It wasn’t a problem then. So why will it be a problem now?
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Garrett
@garrett
The more we print, the less it becomes attractive for other countries to hold our debt. We’re just continuing to push the limits. If there’s no buyers of US Debt then we’ll have problems. Frankly, i don’t think we’ll actually cut spending or increase taxes to solve this so i think we’ll just try to innovate our way out of it and try to do keep the U.S. at the top of the global economy. Don’t see that changing but others like China have started to catch up a bit
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