What people for get about the national debt is that we have to pay interest payments. In 2024 we will have to print over $3 trillion to cover all of our debts. This will lead to higher inflation which will lead to hire rates and the cycle continues. This is what happened in Argentina, Venezuela, Zimbabwe, Germany etc. I’m not sure if it will happen this inflationary cycle, but if nothing changes destruction is inevitable eventually.
It is success only if taxes are raised. Both corporate tax rate and indiduals earning >400k annually. Alternatively, government spending must be cut. So many feed at the public trough to include poor, middle class, wealthy and publicly traded corporations.
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Credit goes to Econimica on X for the chart & data
[https://twitter.com/Econimica/status/1767014937677971723](https://twitter.com/Econimica/status/1767014937677971723)
What people for get about the national debt is that we have to pay interest payments. In 2024 we will have to print over $3 trillion to cover all of our debts. This will lead to higher inflation which will lead to hire rates and the cycle continues. This is what happened in Argentina, Venezuela, Zimbabwe, Germany etc. I’m not sure if it will happen this inflationary cycle, but if nothing changes destruction is inevitable eventually.
It is success only if taxes are raised. Both corporate tax rate and indiduals earning >400k annually. Alternatively, government spending must be cut. So many feed at the public trough to include poor, middle class, wealthy and publicly traded corporations.