Nope, Trump didn't even manage to reduce the debt. The amount of spending in our government is out of control and it would take a unified government dead set on reducing it to do anything... and we know that won't happen.
The only difference is that now the Democrats are intent on spending in chunks that are much greater than anyone has ever done in the past.
I believe this was exactly Trump's goal when he decided to run for office. He felt like he was the one man that could unite the nation, and he knows that when the nation is united it can do literally anything.
Everything was ran off tracks and off a cliff when the left decided to fabricate RUSSIA RUSSIA RUSSIA 24/7 and wage a never ending information war designed to divide Americans.
At that point, all his hopes and plans were out the window, and he did what he could do in the situation.
I've been sliding a bit of my investments to physical gold a silver. My thought is that I'll need enough to cover the absolute basics while the shit hits the fan, say two years.
I'm not sure what can be done about it. When you add up the debt and unfunded liabilities, there really isn't a way to pay it off by traditional means. It would be like making $4,000 a year and trying to pay off $175,000 debt. But your expenses are $6,000 per year. I think it went past the point of no return a few years ago.
When Obama got into office, the debt was $10 trillion. Look at what has happened in 11 to12 years.
I can remember being horrified when they passed a stimulus bill of $1 trillion and a bail out of $1 trillion (up until that point, we had dealt in billions) but it was as though Congress had broken through a new ceiling when passing spending bills. Now everything is in trillions without push back.
The dollar is a weird animal being a reserve currency so typical economic principals don't seem to always apply in ways one would think regarding inflation etc.
Once they realized this their now pushing more and more and seeing what they can get away with without large immediate effects (lasting effects are the next guys problem).
It's a cookie jar but it's a black box, you can't see how many cookies are in it. In the past we said don't take more than 10 a day or you won't have any more tomorrow, but then someone took 11 and the next day nothing much changed, so they took 12 so on and so forth. Someday though there going to reach in for 35 and only pull out 10, that's the beginning of the end.
In another way the dollar is not to unlike bitcoin, nothing backs it except the confidence of value and in the dollars case the backing of a historicaly rule of law respecting nation (something vastly disappearing). If the confidence is lost or something better floats along it's in trouble.
You have two groups one pillaging wanting it to continue so there's more to pillage, the other actively trying to destroy it via instability. Both sides seem to think they can use or outsmart the other to their goals and are racing to the same result.
Sometimes I think this push for chaos and the lack of law and order is to overwhelm the public with such an unsafe environment that it justifies them coming down hard.
Look at what they did after January 6th--it was certainly no armed insurrection (it was great support for the MAGA movement, yes, but no insurrection and definitely not armed). They are using a relatively minor even (when compared what went on over the summer) against Americans that did not support the Democrat party. It is obscene what is going on in Congress.
Democrats are spending money everywhere to buy votes. I keep saying they are building up a slush fund. Of the $1.9 trillion Covid-19 Relief Bill, less than 10% went to Covid-19. The latest $2.3 trillion Infrastructure Bill, 10 to 25% actually goes towards infrastructure (depending on who is doing the reporting) but most of the money is not related to infrastructure.
When emergency bills are passed, they should not be allowed to add on anything that is not related to the emergency. It becomes a way to blackmail the public. If the public wants relief, they must agree to give congress a blank check.
Won't stop no matter who is in power.
We will economically collapse first, before anything is done about it.
Nope, Trump didn't even manage to reduce the debt. The amount of spending in our government is out of control and it would take a unified government dead set on reducing it to do anything... and we know that won't happen.
The only difference is that now the Democrats are intent on spending in chunks that are much greater than anyone has ever done in the past.
I believe this was exactly Trump's goal when he decided to run for office. He felt like he was the one man that could unite the nation, and he knows that when the nation is united it can do literally anything.
Everything was ran off tracks and off a cliff when the left decided to fabricate RUSSIA RUSSIA RUSSIA 24/7 and wage a never ending information war designed to divide Americans.
At that point, all his hopes and plans were out the window, and he did what he could do in the situation.
Don't forget the RINOs like Ryan, McCain, and Romney stopping him when he had a majority in both houses.
When that happens, Democrats will have what they were after--the total breakdown of America.
What happens then is unwritten. What happens then is up to the people that want it the most and have the most skill.
Buy gold and silver
I've been sliding a bit of my investments to physical gold a silver. My thought is that I'll need enough to cover the absolute basics while the shit hits the fan, say two years.
Smart. No guarantees, but gold has doubled since 2008. I’m hoping it does again. All,part of a good diverse portfolio.
If you have no money how are you spending?
There isn't any money.
The federal government owes trillions.
It's all a show.
The money is real, but debt is not because they keep printing and devaluing the dollar.
The worst is that as they print, the wealthy become more wealthy (money is far more readily available to the wealthy)
Devalue?
What do you think gives the US dollar value?
The world still trades on the US dollar but there are those calling for a decoupling from the US dollar.
Brings things into perspective.
Ok, but I asked where does the value come from.
Nice Strawman.
When you DEvalue something, you take away its value.
The federal government PRINTED trillions. Why? No one but the Fed would "lend" them that much. It's a shit show that won't end well.
We should actually go back to the gold reserve.
Money is the mark of the beast.
The most egregious thing.... So far
I'm not sure what can be done about it. When you add up the debt and unfunded liabilities, there really isn't a way to pay it off by traditional means. It would be like making $4,000 a year and trying to pay off $175,000 debt. But your expenses are $6,000 per year. I think it went past the point of no return a few years ago.
When Obama got into office, the debt was $10 trillion. Look at what has happened in 11 to12 years.
I can remember being horrified when they passed a stimulus bill of $1 trillion and a bail out of $1 trillion (up until that point, we had dealt in billions) but it was as though Congress had broken through a new ceiling when passing spending bills. Now everything is in trillions without push back.
How long to count to 1 trillion? 30,000 years or something like that.
Ridiculous that people do no push back because the get a check for $1,400
Meanwhile the total cost was a loss. It's short sighted thinking.
1.9T / 143.3M taxpayers = 13.25K per person - 1.4K stimulus = 11.85K net loss per tax payer. Great job folks.
The dollar is a weird animal being a reserve currency so typical economic principals don't seem to always apply in ways one would think regarding inflation etc.
Once they realized this their now pushing more and more and seeing what they can get away with without large immediate effects (lasting effects are the next guys problem).
It's a cookie jar but it's a black box, you can't see how many cookies are in it. In the past we said don't take more than 10 a day or you won't have any more tomorrow, but then someone took 11 and the next day nothing much changed, so they took 12 so on and so forth. Someday though there going to reach in for 35 and only pull out 10, that's the beginning of the end.
In another way the dollar is not to unlike bitcoin, nothing backs it except the confidence of value and in the dollars case the backing of a historicaly rule of law respecting nation (something vastly disappearing). If the confidence is lost or something better floats along it's in trouble.
You have two groups one pillaging wanting it to continue so there's more to pillage, the other actively trying to destroy it via instability. Both sides seem to think they can use or outsmart the other to their goals and are racing to the same result.
Sometimes I think this push for chaos and the lack of law and order is to overwhelm the public with such an unsafe environment that it justifies them coming down hard.
Look at what they did after January 6th--it was certainly no armed insurrection (it was great support for the MAGA movement, yes, but no insurrection and definitely not armed). They are using a relatively minor even (when compared what went on over the summer) against Americans that did not support the Democrat party. It is obscene what is going on in Congress.
Democrats are spending money everywhere to buy votes. I keep saying they are building up a slush fund. Of the $1.9 trillion Covid-19 Relief Bill, less than 10% went to Covid-19. The latest $2.3 trillion Infrastructure Bill, 10 to 25% actually goes towards infrastructure (depending on who is doing the reporting) but most of the money is not related to infrastructure.
When emergency bills are passed, they should not be allowed to add on anything that is not related to the emergency. It becomes a way to blackmail the public. If the public wants relief, they must agree to give congress a blank check.