Wars are waged through inflation. Allowing the federal government to "print money", essentially write checks on a negative account balance, is funding these forever wars.
If you continue to support reckless taxation, this is what you will get.
jleyank•48m ago
the US has run deficits for years, so it's not reckless taxation in the form I think you mean. "Pay for its bills" would be a novel concept, involving undoing various "give money to rich people" tax cuts.
In the current environment, very unlikely.
commandlinefan•41m ago
IIRC, the US debt is at 39 trillion right now, with no plan to pay it back. Which is logical, because it's unpayable. There's no way in the world that will ever be paid back. I still haven't seen anybody properly analyze how high the debt can go before it actually can't go any higher, but we're going to find out.
pfannkuchen•34m ago
Monetize it or default are the only options I think. Monetizing affects everyone while default only (directly) affects bond holders. Monetizing is much easier to obfuscate though so that is probably what will happen.
Ancalagon•30m ago
Without any funny business (meaning no re-valuation of the debt, which I guess there are strategies for) and assuming an interest rate on the debt of between 3-5%, I figured between 10-20 years before the interest payments eat up most essential services.
lwansbrough•56m ago
It’s just embarrassing at this point. How long will the Americans put up with this humiliation ritual?
cdrnsf•47m ago
As long as a significant portion of the population continues voting for it.
lwansbrough•40m ago
Well let’s hope, as Bush once said, “Fool me once, shame on you. Fool me twice… can’t get fooled again.”
cdrnsf•21m ago
Hopefully. They've bene fooled into voting for him 3 times already.
justonceokay•2m ago
So many people make so much money from it. I don’t personally this time but I did last time working for tech. Maybe I will again next time. This is the third time America been “humiliated” in my life and my life is awesome and getting better.
/s
But that is the overall sentiment if I had to describe it without pretense
exabrial•58m ago
If you continue to support reckless taxation, this is what you will get.
jleyank•48m ago
In the current environment, very unlikely.
commandlinefan•41m ago
pfannkuchen•34m ago
Ancalagon•30m ago