Quote:
Originally Posted by recycled sixtie
I am just wondering from the economists out there what the net result will be in the US with the federal debt? If the politicians dont want to increase taxes, then how will the national debt ever be paid off? Will the govt. just keep printing money? That just leads to more inflation does it not? What are the solutions here?
Do you think that another big depression will occur if the US defaults on its debt?
The US still has a big impact on the rest of the world. Greece is minor compared to the US. Your thoughts?
Guy
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The US has 15T in debt on the books and another 85T in UNFUNDED LIABILTIES..mainly SS and the big one Medicare...Then there is Private Debt which is about 55T or so..add it up. All on a 14T income
If interest rates should GO UP..then a larger amount of US Tax Revenues will have to be commited to paying the INTEREST.
If push comes to shove the Fed and Treasury is going to PRINT MONEY..your USD will become worth Toillette paper...and your wages will not be able to match that increase, and your Investments will be toast. .
NET AFFECT..Your living standard WILL DECLINE before you die...for your Children and Grandchildren (dependent upon your age and theirs) SLAVERY will look like a GOOD career choice.
Think of the wonderful life style you can have on making FIVE USD AN HOUR...
Welcome to mid century America....