Quote:
Originally Posted by jyl
Answer: probably nothing much, other than play chicken with the debt ceiling, assuming no big external event that it has to react to. That inaction, in the face of pressing issues, is part of the insanity. What might Congress do over the next five years? No clue, other than play chicken with the debt ceiling.
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It’s now hard to imagine that 5 years could possibly pass without some “big” event(s) the Govt “has” to react to in a huge way (i.e., trillion(s) of reactionary spending).
The only thing that
can be counted on is massive spending, entitlement expansion and debt increase is now never going to stop, or even be slowed in any meaningful way. That ship has sailed.
To me, given what’s happened in the past 3 years, it feels like inflation is going to be much harder to tame than people think. It feels like whatever the opposite of “transitory” is. (I don’t have any hard analysis to support that feeling though).