Congress has bankrupted our country

It’s both of their faults. The republicans cut taxes and then don’t follow through on the spend side. The democrats spend first and tax later, with the additional revenue spent on something else before the checks even clear the treasury. There are hundreds of instances each year where these lines get blurred, but what is always in focus is that neither party gives a rat’s ass about the debt.

We couldn’t get to a point where the government has borrowed/printed $100k/citizen with IOUs in the form of unfunded liabilities of twice that amount borrowed without both parties being at the orgy. If our government regulated themselves the way they regulate banks and insurance companies it have shut itself down decades ago.

Any attempt to differentiate the two parties and assign “more” blame to one or the other is really ludicrous. People really need to look in the mirror on this as we have all enabled it by sending so many crooks back to DC over and over and over again.

 

When basically the entire developed world is deep in "debt," who is really going to do anything about it?

 

The GOP “never follow through on the spend” side. Almost like that’s by design.

 

Thank you for making my point. Pubs do have no intention of reducing spending commensurate with the tax cuts and the Dems have no intentions of limiting their spending plans to the tax increases that they support or even the next one they plan to support.

Both sides piss on our backs and tell us it’s raining. This is how we get $34T in existing debt and an additional $120T in unfunded liabilities. With little to no control over when those unfunded liabilities become actual payments it is a really ticking time bomb.

 

Are you proposing that nothing needs to be done?

 

Sounds like a great time for more student loan forgiveness. Oh wait, wrong party.

 

There’s never a great time for student loan forgiveness, unless it’s an election year and you need to pander for votes

 

Sounds like a great time for Trump to assure the billionaires and corporations of continued tax cuts. Oh wait, wrong party. Perhaps it's time to get a message to both parties.

 

Nothing? Not entirely. I am, however, proposing that it's not a big deal.

 

As an attorney you should soon, if not already be making good money and accumulating wealth. Not to tell you what to do but it would be a good idea for you to reconsider that thought.

Im not a “Great Depression II” or economic Armageddon thinker but I believe we are in for a significant currency devaluation in the not too distant future. There are good ways to hedge against this that are still decent investments even if a currency devaluation doesn’t occur or is not as severe as expected.

I look at things through this lens: we will always be solvent because we can print money. Social Security will always make payments. The issue will come to be that the social security check will only buy bread, spam, and a gallon of milk.

 

I mean we have a federal reserve 'doing stuff' all the time, you cant even call it neglect. But I guess we live in a world where we didnt even have double digit inflation for a couple of years but certain people want to basically do massive austerity and inflict untold misery on the general population to make them (who are mostly insulated from said misery) feel better about some made up number WRT the deficit/debt.