The right wing refrain every time we have a Dem president, who usually reduce the deficit: The debt is killing us! The right wing refrain every time we have a republican president, who usually explodes the debt: <Crickets>
Just checked and we are not 'bankrupt' because we control our own currency. Nor is inflation spiraling out of control. I will feel free to not watch the video now.
Seems like there is only party that constantly takes heat for wanting to raise taxes and actually pay for our spending ... it's perhaps the #1 thing republicans try to hit democrats with .... oh, and then republicans complain about the debt ...
As a fiscal conservative, I absolutely HATE our debt. Back in 2000, when we were finally able to wrangle our deficit into a surplus, I had hopes we would start paying down our debt which could hopefully in time turn into tax cuts. But OH NO! The pubs thought that would be terrible and looking at years of potential surpluses meant we NEEDED to cut taxes now. So they cut taxes, started wars, and those years of surpluses quickly became record deficits again. No matter how bad the deficit is, no mater how low our taxes are historically or compared to other 1st world countries, pubs are always ready for another tax cut. Pubs are not fiscal conservatives. Period.
The people to REALLY blame are the people who vote for politicians who raise the deficits and debt by cutting taxes. In other words - Republican voters are to blame the most because they offer the reward to pols for pandering and deficit spending. Edit : It's pretty similar to GOP voters' communicating, through their votes, that it will be OK for a politician to constantly lie, degrade the country and humanity, bang porn stars, and even commit an act of seditious insurrection. Dems don't do anything close. Student loan forgiveness may suck, but it's not country-threatening.
There are no fiscal conservatives in elected office at the federal level. None. I wish I could say this wasn’t true but it is.
Better question, how can we protect ourselves or our liquid assets from being wiped out from the debt. Buy more physical properties?
Historically, real assets have been good hedges. Real estate, precious metals, industrial commodities, etc. If you have any middle age, or elderly family members who rent you can buy properties either jointly with them or buy the property to rent to them and try to hold the rent fairly fixed. That way they are protected from housing inflation and you have a real asset offset the debased currency. Oil stocks have historically been good over the long term but the ride can be a little bumpy at times. Most have pretty good dividends along with price appreciation
That’s it. I’m voting for Trump just so the right wingers stop with all the doom and gloom. I’ll be happy that they are happy. XOXO
The only way to protect yourself is support the establishment. The US has leveraged the dollar as the global currency and put the foot on the throat either diplomatically or militarily on the entire globe to make us the richest country in the history of the world. If that falls apart, the entire world will go into chaos and you and every US resident will instantly become broke. I dont want to be an alarmist, but we are more vulnerable that most folks realize.
Congress is spending too much, and it's bankrupting our nation. Lol... Both sides suck at fiscal responsibility.
As a non-expert, I would just add that the trick to holding precious metals is that you actually have to hold them. Not a piece of paper that claims you own "x" metal in some far off "vault" and that the holding company charging you "rent" promises to deliver on demand. I know a handful of people who bought into the "convert your retirement savings to precious metals" scams and lost a lost of money/value. There are quality sites where you can purchase actual metal for a fraction over the Spot price as long as you have room and can safely hold some amount of precious metals.
Well, this is a self-inflicted wound since Americans continue sending career politicians who love to spend $$ to Congress.
The reason that Americans continue to send career politicians to Congress is because it's the representation that they want. What do you call a member of Congress who supports bills to increase revenue and/or reduce spending? Answer: A former member of Congress or a defeated incumbent.
While I do agree with this, one side constantly blames it on the other, despite many/most of the root causes of the debt being their fault.
