Your paycheck is now worth 3.1 percent less than last year

#252
#252
utvolpj said:
Eventually it will be required because of spending or we'll default. If you remember the guy you supported handed out a few trillion on top of running trillion dollar deficits
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We’re not going to default. We’ll just keep printing and make the debt instrument return virtually worthless. Sucks to be China….or anyone else that buys our debt.
 
#253
#253
NorthDallas40 said:
Oh yeah all of us Boomers are gonna be sitting on our asses wanting OUR gubmint check. There’s gonna be plenty of job opportunities so give up your damn dream of Central African basket weaving archeology study and get your ass in the 9-5 office and pay those benes 😎
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Just call it workers reps
 
#256
#256
Rasputin_Vol said:
And who's fault is it that alternate parties don't get traction? Is it the GOP and DNC and media? Or does that burden fall on the voters?
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I think many organizations and people are culpable. The candidates, themselves, rarely come off as people capable of leading others. They are more a lose collection of disgruntles than an organized campaign. The other parties certainly do not want to see alternate parties get traction. The media need either sensationalism or access to the likely winner. Alternate party candidates give them neither. And, lastly the voters get locked in with Party-think and anyone without the right party letter is bad.
 
#260
#260
The great virtue of a free market system is that it does not care what color people are; it does not care what their religion is; it only cares whether they can produce something you want to buy. It is the most effective system we have discovered to enable people who hate one another to deal with one another and help one another.
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#261
#261
The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.
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This one is very relevant to our current inflation and labor issues.
 
#263
#263
GreyWolf1129 said:
Politicians have been kicking the can down the road on fiscal responsibility for decades, for a couple of simple reasons...One, by the time the bill comes due, they're long gone...and Two, if they get voted out they are not held liable for their actions while in office.

In the end, it's always the next generation, or the next, that has to pay the tab. Hard to get a 15 year-old (who doesn't vote) pissed off about a bill they will inherit in 20 or 30 years.

American Politics. The ultimate Ponzi scene.
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But these same 15 year olds will be held accountable when they take out student loans in the next few years. So they have to be the engine and the caboose. They have to carry the weight and bring up the rear by paying down their own debt and the debts of the generations ahead of them.

Now think about that as we have Boomers and Gen-Xers calling them "lazy".
 
#264
#264
McDad said:
Do you see how your priority which can never be touched, and someone else's priority of social programs which they feel can never be touched is part of the foundational problem when it comes to spending?
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I get what you are saying, but an argument can be made to preserve the military spending. I don’t think anyone can make a reasoned argument for some of the asinine programs that we dump money into
 
#265
#265
Rasputin_Vol said:
But these same 15 year olds will be held accountable when they take out student loans in the next few years. So they have to be the engine and the caboose. They have to carry the weight and bring up the rear by paying down their own debt and the debts of the generations ahead of them.

Now think about that as we have Boomers and Gen-Xers calling them "lazy".
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I didn’t call them lazy. They are in a ton of debt before they clock in for the first time…
 
#266
#266
lukeneyland said:
I get what you are saying, but an argument can be made to preserve the military spending. I don’t think anyone can make a reasoned argument for some of the asinine programs that we dump money into
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Not only can they make those arguments, they do. Whether it is reasoned or not is subjective.
Under normal circumstances, I would default to spending on those things the Constitution mandates. Defense is one of those things. But these aren't normal circumstances. Each person (not voter) will be responsible for almost 100k of debt after Biden's budget passes. A family of 5 owes half a million. Our thinking has to change.

Each passenger on the SS America is only supposed to bring a maximum amount of weight in their bags. The leaders we agree with say, "It's okay, bring more than the max. We'll make the other guy adhere to the limit". The leaders the other people agree with tell them the same. Everyone stuffs their bags with double the max allowed weight. And we are on a sinking ship pointing fingers at each other to assign blame.
 
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#269
#269
NorthDallas40 said:
Most Ponzi schemes can’t print their own fiat currency.

We won’t default. First we would massively devalue our currency and have rampant inflation before default. Look to Argentina as an example but not that extreme since at least right now the dollar is the world currency. Once that is taken from us we are absolutely toast like Argentina
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The petrodollar is what will start ww3
 
#273
#273
Vol737 said:
Well, and other countries that hold a lot of our debt. Either way, we’re f….up a well known creek without a paddle.
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Almost $30 trillion total. More than $10 trillion is held by other US government entities. About $8 trillion is held by foreign governments and approximately a third of that (10%) is owed to Japan and China. A bit over $5 trillion is held by the rest of the countries on the planet… less than 20% of the total.
 
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