I’m no economist…should we begin “prepping”
They never run out of money. They will borrow or print money to make up the difference.
And continue to rack up the debt in order to keep the economy “growing.”
So… Another “government shutdown” this year?
Plan A: Just take it from all the rich people who don’t have political connections, except there are so few of those.
Plan B: Take it from the middle class. There are a lot of those and they are used to it.
Sooner or later the Day of Reckoning shall come. Debts will be called and Treasury Bonds dumped. It’s inevitable.
Scroll down to the table headed “National Debt to GDP Ratio.” The United States is listed in twelfth place. You can see that a country’s ranking in this table doesn’t have any noticeable correlation to overall prosperity. Japan is by far the world’s worst performing country, in terms of this indicator, but it doesn’t seem to be doing the Japanese economy any harm, does it?
Oh, Oh! Mnuchin better be quiet or Trump will solve the problem the only way he knows how…Fire his Treasury Secretary for even saying it, call it Fake News, or blame it on Obama!
Probably all three. The question is, in what order?
Not fake, but Obama’s fault
I can dream, can’t I?
I would vote for anyone regardless of political party, I look at the agenda they bring. and this is where I am extremely skeptical of the democrats running for president. How do they promote free college and free healthcare for illegals even when Citizens do not have it yet. Giving $1000 per person, and a few other monetary promises, if we can barely make do with the programs we have at the moment?
I only see Empty promises.
Yep!,So are their empty promises reflective of their base continuing to support them regardless of the fact that they never deliver?
I’m removing the last one because Mnuchin is among the “best and the brightest.”
And I will add, “But her emails.”
The Japanese economy is a mess. They have lost their leadership in the world in many high technology areas. You might want to reconsider your position if it is dependent on claiming a good Japanese economy.
The government won’t run out of money. Since it usually spends more than it takes in, it has to borrow to cover current expenses. But because of the debt limit, congress must increase the debt limit periodicallly in order to keep the borrowing going. Eventually maybe the great grandchildren of the current generation may pay it off. Or not. I heard one commentator on a money program once recommend that the US just default on the debt. “We’re going to default on it one way or another eventually,” he said. “Just tell government bondholders they’re not going to be paid back. They were crazy to buy government bonds in the first place.”
There’s a word for defaulting on your debt or stop making interest payments. It’s called bankruptcy. Trump knows all about that. That’s why no US bank will lend to him.
May work if you call it a tax rebate like W did.
@drcube, I’m sorry I failed to make my meaning clear. Look at the list of the twelve most indebted countries, as measured by that indicator (national debt as a % of GDP). You will see that, at one end of the scale, the list includes five countries having a current (2019) per capita income estimated at $20,000 or higher:
• United States, $65,000
• Japan, $42,000
• Italy, $37,000
• Portugal, $25,000
• Greece, $22,000
At the other end of the scale, the list includes several very poor countries:
• Venezuela, $3,241
• Eritrea, $2,207
• Sudan, $1,936
• Mozambique, $495
That is what I was referring to when I wrote, “You can see that a country’s ranking in this table doesn’t have any noticeable correlation to overall prosperity.” I hope I have made my meaning clear now.
No, I did not describe Japan as “a good economy” nor did I intend to imply that it is “a good economy.” On the whole I find it helpful to avoid seemingly judgmental terms such as “a good economy” and “a bad economy.”
The per capita income figures quoted above are taken from this source:
I see what you are saying, but, of the five first world countries you have on the list, three are among the weakest economies in Europe and Japan does not have a strong economy either. This would seem to indicate there are issues with carrying a large deficit.
And in order to buy votes with “free” government stuff.