Submission Statement:
As the US national debt reaches 39T dollars yesterday (or today, depending on where you are), it doesn't take much for even the most stubborn member of our society to realize that the US dollar is *fucked* — we are *fucked* — as long as they are willing to rub more than two neurons together. Perhaps "neck-deep in shit" is the best description here: we're not completely drown in shit yet, but we know what's awaiting as the water level rises ever faster…
Hence, I felt the need to bring this brief report up again. Remember when Clinton left us with one of the greatest economic conditions America has ever seen in the past few decades? Bush Jr. and the GOP destroyed it all with more than 3T dollars ground down into mush in the Middle East, almost 2T worth of tax cuts (which was supposed to be lifted in 10 years, but guess what happened in 2008?), and one of the most disgusting cases of corruption in the history of mankind (Medicare Modernization Act). Obama tried to fix it, but was hit with the Financial Crisis; similarly, Biden (god bless him, unironically) tried to fix it with Build Back Better, but COVID fucked it all up. And now, with the most stupid moron America has ever seen on the throne, and with an active conflict in the ME that may become an actual war, I fail to see any hope before the end of the decade. Tariffs? Big Beautiful Bill? Lol.
The report (or honestly, common sense) is more than clear in pointing out that if this continues on for the next two decades, the debt-to-GDP ratio would hit a staggering 175% to 200% (and "but Japan" is not an answer). It's coming whether we close our eyes or not. I would honestly support anyone with the balls to say "tax, tax, and more tax right now" and cut everything necessary, although many people of this Republic of dogshit Virtue hates these words even more than they hate each other. Oh, and while we're talking about the future, don't forget that global warming is getting worse every single day, and this government certainly loves their black gold more than the 8B people on this blue planet of ours. I have no idea how the next generation is suppose to live on this land.
It's mind-boggling that for the last ten years, no one seems to be giving a fuck anymore about this ticking time-bomb of our economy, and I'm afraid that if this doesn't get addressed immediately (in 2028 at best, given how utterly moronic this government is), the only thing left to do is to issue some sort of "new dollar" or inflation far worse than anything we've seen so far. GG WP…
I guess this is actually a user-discussion post afterall: is it still possible to save the US from it, whether *democratically* or otherwise?
Posted by jelly-jam_fish
2 Comments
>”but Japan” is not an answer
“But Japan” is an answer.
Debt consolidation through austerity might *not* be one, and inflation tricks might be a big one even if economists mald about it.
In fact Milei’s consolidation in Argentina happened mostly thanks to inflation and so did the recent consolidation in Greece and Portugal, while Europe nearly destroyed itself trying to “solve debt” exclusively through the (atrocious) economists’ preferred means.
> It’s mind-boggling that for the last ten years, no one seems to be giving a fuck anymore about this ticking time-bomb of our economy
The cynical answer is that the deficit/debt has only been trotted out as a concern when a Democrat is president, yet even that credibility got shot through when conservatives bayed unceasingly during the Obama administration that hyperinflation was always just around the corner, something that obviously didn’t play out. Ironically, the fact that Biden’s materialist policies failed to move the needle in his favor might lead the next Democratic administration to focus on more structural issues with the US political system/economy instead of trying to be Santa Clause again for an ungrateful populace.