[ram27bat] I hate this. Playing Russian roulette with our economy and citizens is absolute insanity.

And you don't think a $31 trillion national debt is playing Russian roulette?

It’s more like artillery, it’s out of sight…

It's over $32 trillion now. All chambers in the revolver are loaded. It's just a matter of who pulls the trigger.


US national debt exceeds $32 trillion for first time

By Victor Nava
June 16, 202

https://nypost.com/2023/06/16/us-national-debt-exceeds-32-trillion-for-first-time/ 

Perhpas I slept through macro-economics 101, but why the hell do we need to borrow so much (besides the obvious "we spend more than we earn")...

It’s kinda a living debt.

What's wrong with you? Don't you run a debt larger than your annual income like the gobment?

I find this thread to be transitory.

Because they are drinking Bud Light?

I sure did when I bought my first two homes. But, that was for an appreciating asset that provided us with financial leverage- so it was also a good investment. But, at the very least, there is no financial leverage in an investment in our debt like the purchasing a home with a mortgage as most people do...

One party political control or one party veto power won't ever get everyone on the same page. Sad.

OTOH, there are some economists who believe our debt isn't that bad and that it shouldn't be evaluated based on "household budget" terms and "ideal spending habits" because they say it differs greatly in nature.

Nevertheless, it's got to be better with less to no debt, except for emergencies.

"What is the CPI right now?

Not seasonally adjusted CPI measures The Consumer Price Index for All Urban Consumers (CPI-U) increased 4.0 percent over the last 12 months"


Definitions from Oxford Languages :

tran·si·to·ry-adjective- not permanent.

None of this is intended to defend anyone or anything.

SINCE INFLATION IS A FORM OF TAXATION...INFLATION IS THEFT.

Soon enough we will have 10% negative inflation to get prices back to normal.

I've heard the FED target is 2% THEFT per year.

2% is an economic/political/societal goal, but not the norm.

U.S. inflation over the long run (longer than 50 years) has been approximately 4%.

Some economists question loudly where the 2% goal even comes from- that is what is the mathematical basis for using that particular goal?
(rhetorical question)

A civilized country would strive for 0% inflation or better yet money that increased in buying power. That would make normal people richer instead of making politicians and their cronies richer.

for example...?

to the op...

debt must be paid, as anyone of decency (and means) or any proper society would agree.

I think the part not stated by spey is that paying the debt we have previously agreed to take on should be mutually exclusive from planning new spendings/budgets.
We should learn from the past, but we still owe it no matter what.

Future spending must be debated and blood may flow. That has a process and clearly needs tremendous improvement.

But pay your current debt, the one from earlier budgets and purchases that you failed to negotiate successfully. It's a matter of being honorable and trustworthy.

Don't try to negotiate the future by holding our already committed obligations hostage because you are weak at budgeting in the first place.

Cutting off your nose to spite your face, makes things worse...98.2% of the time.

Medicare, Medicaid and the national defense.

ziiiiiiiiiiiiiiiiiiiiingggggggggggggggggg!