It's so over bros.https://www.heritage.org/debt/commentary/federal-debt-the-ticking-bomb-your-wallet
>>58774403there are unironically retards who will smugly say "who do we owe our debt, ourselves?" while ignoring this entirely
>>58774403>>58774412Problem?
>>58774403>75%How do they compute this? Every other source I've checked has interest payments around 15-20% of the budget.
>>58774413ThisAnything that is bad for the usa is good for humanity
>>58774440Interest is now equal to more than three-quarters of all personal income taxes, and over 30% of all taxes and duties received by the Treasury in June.
>>58774403Literally does not matter
>>58774403Inflate away the debt. Reduce global supply via transition. Bond more debt.Liquidate said bonds. Create demand via transition. Frankly it’s simple. I personally see no problems as long as I look at no single detail specifically for any amount of time.
I've got it covered bros , step aside.
The Muskrat has spoken.
How are most currencies around the world in a non-stop dump against the USD? How fucking bad is it in India, Russia, Turkey, China, Argentina...?
>Taxes pay for le roadsKEKW
>>58774997Well if the USA is going to collapse and bring everything down with it anyway you might as well get in on the fun and print away your jewish coupons for real things like iron and grain. It's not as if it's going to be worth fuck all when the petrodollar collapses and everything crashes to 0 anyway. Silly countries that are trying to be fiscally responsible will regret being so stolid and sensible.
>>58775030>It's not as if it's going to be worth fuck all when the petrodollar collapsesThe petrodollar collapsed four weeks ago. The dollar is completely untethered.
>>58774403Why do they need taxes to pay interest when they can literally print the money?
>>58774440>ComputeYou have the number for interest to be paid and the number for income tax collected wtf is there to compute
>>58775048Because they fake the printing as "borrowing" so there is interest
>>58775048The tax code exists so the government can indict anyone they don't like for tax evasion. It's a way to keep people in line.
>>58775067He was looking at all taxes (property, sales, etc), when the 75% statistic is specifically regarding personal income tax.
>>58774403The government can infinitely print money to infinitely pay off the debt. The real problem is making sure the debt remains valuable to owners of the debt.
>>58775079All fiat goes to zero. 100% failure rate, not a single currency has or will ever survive this fact. At some point they run out of road to kick the can down. The debt is losing value every second of every day. The whole ponzi is just so a few elites own all the actual stuff, the currency will be sacrificed.
>>58774403Doesn't this mean that the Fed will inevitably lower rates? If they keep rates high the interest will just accumulate even faster.
>>58775092Can you give other examples of fiat currency failing?
>>58775106>If we lower rates, the Jew will get slightly less money...why won't they do it to help America?
>>58775110Central banks in other countries (also ran by Jews) have already lowered rates.
Got a bad feeling. It doesn't matter who's in Congress or the presidency. The spending is just going to get more and more out of control. Is it even fixable?
>>58775067Subtraction is computation
>>58775045Kek and no one even realises it until its too late. The house is burning and the Americans are sitting in it while going all muh tax payments.
>>58775092The USD would have gotten away with the current scheme if it wasnt for the stupid decision to weaponise it against countries who dont fall in line. The USD is used for global trade because it is a highly trusted currency
>>58774403Dude just put the printers on 3
>>58775130Its not. Unless you allocate every expenditure towards repaying the debt, it is going to continue on and on and on. Sure the next administration will alleviate it for awhile but what happens in the next administration? The US Government knows it has no way out.
>>58774458You just reworded the OP pic without showing where the info comes from
>>58774440You dense twonk!TAX RECEIPTS! Tax receipts are not the same as budget!Thanks to common core math we have to put up with anons like this
>>58775171A politician can't even run on a platform of fixing this because you're essentially running against a political Santa Claus in the eyes of your average NPC. It would take 4 presidencies of focus to fix it and that just can't happen because one candidate is going to be promising more gibs me dats while promising that things will also get magically better at the same time. We basically just gave Ukraine and Israel a trillion dollars in the past two years
>>58775590And even if this impossible scenario did happen, what would be the result? A net zero debt, sure - but your public services and infrastructure would be run into the ground; assuming you didn't already suffer some massive catastrophe - a power plant blowing or a water treatment plant failing. Worst of all, the banking cartel would be several trillion better off and would essentially be in a class of their own.The only real solution is a revolt against the creditors. As far as I know, they don't actually have an army or many guns.
>>58775724The creditors are the American public who hold bonds
>>58774458>>58775075>>58775453>I spend 75% of my income on mortgage and car note>Also my wife (we share the house and same car) makes way more than I do but I'm not going to count her income because *shrug*>waaah I'm totally going broke guys
>>58775166This. This was the biggest fuck up from the administration.
>>58774403Wait till you see the unrealized losses of the banks lmaohttps://www.fau.edu/newsdesk/articles/unbooked-losses-banks-capital-equity>Larger banks on the list with more than $10 billion in equity had unbooked security losses more than their equity capital: Charles Schwab, where unbooked losses equaled 64%; USAA Federal Savings Bank, where unbooked losses equaled 67% of their equity capital; and Bank of America NA, where unbooked losses equaled 58%.
>>587750454 weeks ago? What happened?
>heritageliteral illuminati-tier. discarded
>>58775724To be fair, if the government (intelligently) sold off its assets and opened up to the free market to provide almost all of its current services, then we'd be much better off. The problem is that any time people talk about "privatisation", they think it means the government selling its monopoly on something to create a private monopoly instead.
Thats too bad for the 1500 or so political class Americans.I own my home and defend it with the rights afforded to my by God alone.
>>58775724There's a lot of waste you can cut and either nobody would notice or the world would become a demonstrably better place, but the professional parasites and media would see to it that the administration doing the cutting was blamed for anything that goes wrong. Terminating the department of Education for instance would save money and improve schooling across the country, but any drop in test scores or school failure anywhere would subsequently be blamed on the cuts.
>>58776343The deal that's been in place since the 70s that caused oil to be sold based on the dollar ended.
>>58774403Why have to pay the debt? Why can’t just it be forgiven? Like who gets to use the money that goes to the interest of the debt?
>>58774467first correct answer i've seen in this thread
>>58774440>interest payments around 15-20% of the budget.The budget is far larger than net tax, which is where the problem stems from.
>>58775048taxes are a way to delete money and reduce inflation
>>58775109wiemar germany was a big one
>>587751091 0 9
>>58777755The federal reserve
Debt to who? what happens if "we" miss a payment?
>>58777656Oh, the Petrodollar deal closure was last month. time flies.
>>58774403Austerity, default, hyperinflation/monetization:1) which do you personally prefer? 2) which is likely to happen?Personally prefer a default and return to gold standard. Suspect US will do austerity with massive consumer taxes.
THE USD WILL COLLAPSE IN TWO MORE WEEKS
>>58775166Its literally the only play you have with a fiat system. Playing on level ground against sound money will get your economy wrecked. Fiat speeds everything up in the near term and will eventually, every time, burn out. Its like the economic equivalent to cocaine
>>58775106That just means that the government will waste more money on useless shit and more people will borrow money they can't really afford to pay back at a time when job security is very tenuous.High interest rates are supposed to incentivise people and the establishment to save money rather than spend it, but the interest rates aren't really high enough to achieve this, so people are just spending but not borrowing as much.I think that the DEI initiative was an incredibly misguided effort to kick-start economic growth by giving people who were traditionally not seen as a part of the conversation but the real reason that they weren't was never because of systemic racism but because they never had the ability or ingenuity to make anything of value.Women were never held back by men. They just aren't any good in business or technology, forcing them into positions they didn't earn and aren't capable of doing has exponentially exacerbated the problems with Western civilisation.
>>58775113Depends what their national debt and private debt stands at.Just because someone else has done it doesn't mean it's applicable across the board or that they've done the right thing.This is the problem with MMT, nobody knows what they're doing, there are no experts in this and there are no precedents for anything that happens because it is an ongoing experiment. They can make guesses but that's all they are and they don't seem to be doing a very good job with it thus far as many nations are on the verge of bankruptcy.
>>58778878The Yen is just collapsing at a higher rate than the USD retarded monkey.
North America is about to become like South America. The rich will leave because everyone is about to get taxed into oblivion. Kek
>>58774403debt isn't real because the money they use for it is fake
>>58778878>US raises interest rates because of debt>Every other currency that is pegged to the dollar is getting fucked by this.How hard is it to understand? The dollar is a toxic currency now and the countries who rely on it are going to get absolutely fucked beyond doubt.
>>58774403my 5 house are always worth guess what?5 housesfeels good
>>58775764>waaah I'm totally going broke guysAre you 34 trillion dollars in debt too or is that just the US government?
OY VEY STOP NOTICING THINGS DELEET THIS!
>>58778024What would "they" do?
>>58774412Yes. There is no problem when 'we' print the money/debt. The government can do all kinds of fuckery to devalue the dollar further, waive it's debt to certain foreign entities, and continue on right into WW3. You act like China deserves to get paid back. Just freeze their treasures and shove a nuke up their ass. Problem?
>>58778878The USD is losing value in the last few days. The downtrend has started
>>58775159>The house is burning and the Americans are sitting in it while going all muh tax payments.
>>58782021>impoverishing your own people isn't a problemIt isn't?!?!
>>58782082>won't someone think of the heckin goblerinos!
>>58782087what?
>>58782138lurk moar
>>58782156>i'm retardedk
Maybe Kamala will mint a quadrillion dollar coin.
>>58780597My share of the federal debt is about $100,000. A lot higher if you only count tax payers :^)
>>58774412Same idiots will then cry about inflation and not connect the fucking dots
>>58774412Everyone else is also stuffed to the gills in debt so I don't lose sleep over it. If the US defaults then so does everyone else
You'r are making these doomsday threads every year for years.Nothing ever collapses. Fiat money looses value be it dollar, euro, ruble whatever the fuck it is they all do the same thing so you can't even point to anyone else when you'r complaining. stupid kids.
>>58777656that turned out to be fake1. the saudi riyal is pegged to USD2. what "deal" are we talking about?3. the crown trades their oil for other currencies all the time news agencies literally had to retract their articles and correct themselves once the realization hit that NOBODY had any clue what the actual deal was. inb4 2016 revealed a 1974 deal for the saudi crown to slurp up XXX treasuries in exchange for us military has nothing to do with USD exclusivity, which never even happened.. reserve currency status is up for discussion. short term the usd and its rivals weaken, but the usd has bled noticeably less than its next strongest rival which places it in a good spot. uncertainty actually improves the demand for the dollar btw which is why the dollar remains very strong overseas. nips and euros are seething right now over american tourist coming in and pricing them out.the dollar WILL take a hit if trump executes a protectionist agenda of devaluing the USD to make imports more expensive in the hope that US exports become more competitive (i.e. cheaper). WHAT exports, or WHAT mystical manufacturing base is trump referring to, I have no clue. The world's largest consumer-based economy gets knee capped. The US can't pivot from service to manufacturing. And we might just see a day where US debt becomes entirely worthless when the Fed has to inflate the dollar to avoid a default (which will happen with or without Powell).
>>58782025how many more weeks do we have left>>58778931>>58780414>heh its just that every other currency is dying faster>my closet full of silver will show you
>>58774403It is, fun is officially ready to moon
>>58782021>You act like China deserves to get paid backThey don't need to wait for repayment. Countries can dump their treasury bonds on the market as they see fit. And if they do, that would make the interest rate skyrocket. How do you think the economy would be affected?Fun little fact: during the 2008 financial crisis, the russkies tried to persuade the chinese to do exactly this in order to, and I quote "send the american economy back to the stone age". The chinese refused and even warned the US treasury secretary Hank Paulson. Let's hope for everyones sake that the chinese will show the same type of restraint this time
>>58774457Dangerously based
>>58784168Did you miss the part where I said>waive it's debt to certain foreign entitiesand>continue on right into WW3Western central banks have the ability to nullify/freeze any Chinese owned US Treauries.
