Post
Topic
Board Economics
Re: US Gov. on the brink of defaulting, + National Debt Clock
by
The Sceptical Chymist
on 29/01/2023, 17:51:27 UTC
Oh man, the US Debt figures are moving faster than the income tax revenue alongside.
Uh, yeah....that's not just something that happened overnight or only since Biden's been president.  That debt clock has been ticking away for years at an alarming rate. 

If tax revenue were sufficient to fund all of the US government's expenses, do you think they'd even be in debt?  Taxing citizens is just like putting a band-aid on a slit artery that's gushing blood.  And the worst part is that I have no idea what the plan is to stem the bleeding in the long term.  Money can't just be printed indefinitely without serious consequences, like we've already been seeing with inflation.

The US might be stable in my lifetime, but I think it's a sinking ship that's just going down very slowly, and it's the next few generations that are either going to drown or figure out a solution.  Good luck, kids!