Debt perspective

[~Rocktar~]

[ClydeR]

A lot of things are about to happen at the same time..

• Slow growth in the global labor supply because of a shrinking workforce in China
• Higher average annaul inflation because of smaller global labor force
• Higher interest rates, closer to historical averages, because of increased inflation
• Much, much, much -- at least three muches -- higher percentage of federal budget devoted to interest on the national debt, because of higher interest rates
• Insufficient Social Security trust fund projected in 2033
• Demographic shifts in the US that favor Democrats

Interest on the debt was 5% of budget outlays in the last fiscal year. Obviously, a small increase in interest rates, like we have experienced recently, would amount to doubling or tripling interest rates.

If the above list is correct, what would be your forecast? Increased fiscal responsibility in the face of crisis? Higher taxes? Collapse of the dollar? Highly entertaining 2032 presidential election?

You won't be bored.

[Neveragain]

A lot of things are about to happen at the same time..

• Slow growth in the global labor supply because of a shrinking workforce in China
• Higher average annaul inflation because of smaller global labor force
• Higher interest rates, closer to historical averages, because of increased inflation
• Much, much, much -- at least three muches -- higher percentage of federal budget devoted to interest on the national debt, because of higher interest rates
• Insufficient Social Security trust fund projected in 2033
• Demographic shifts in the US that favor Democrats

Interest on the debt was 5% of budget outlays in the last fiscal year. Obviously, a small increase in interest rates, like we have experienced recently, would amount to doubling or tripling interest rates.

If the above list is correct, what would be your forecast? Increased fiscal responsibility in the face of crisis? Higher taxes? Collapse of the dollar? Highly entertaining 2032 presidential election?

You won't be bored.

I think we will see a great number of global governments go insolvent. More friction between nations as they make it more difficult to access their shrinking markets. More government control over their citizens as they will have a need to collect more taxes. Higher healthcare costs due to aging populations and shortages in highly trained professionals.

We've already experienced some of the impacts with aging populations in 2008 with countries like Greece.

The dollar will probably remain the strongest currency as more countries will be wanting to access our market. The US's natural resources remain largely untapped when compared to the "Old World".

Interesting factoid: The US would have to triple their population to equal Germanies population density at the beginning of the 20th century (early 1900's)

[Seran]

Amazing how the National Debt has skyrocketed since corporate and high earner taxes were slashed! Surprisingly there is a Democrat on the list, less surprising it was a compromise bill from a Republican Congress to extend Bush's tax cuts.

The Economic Recovery Tax Act of 1981 - Reagan
Economic Growth and Tax Relief Reconciliation Act of 2001 - Bush
Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 - Obama
Tax Cuts and Jobs Act of 2017 - Trump

[~Rocktar~]

Amazing how it never occurs to morons like you to just not spend more than you have instead of trying to take more from others because you want too.

[Seran]

Amazing how it never occurs to morons like you to just not spend more than you have instead of trying to take more from others because you want too.

Except when Republicans cut taxes, they didn't cut programs and thus made the deficit. They knew if they cut programs they'd be performing political suidicd, so they fucked the budget and counted on Democrats to fix things as ever. Republicans are notorious for lighting their own houses on fire and begging others to stop them.

[Shaps]

2 Options:

Keep more of your own money - give less to the Government.
Keep less of your own money - give more to the Government.

I vote option 1 is the best option for people.

[Parkbandit]

2 Options:

Keep more of your own money - give less to the Government.
Keep less of your own money - give more to the Government.

I vote option 1 is the best option for people.

But what about people like Seran who obviously cannot hold down a paying job and requires the government to subsidize their living expenses?