..."It’s a transfer state where the main purpose of your taxes is largely buying votes."...and so you vote and you get the same garbage over and over but it's just a different color.
Over the last two months, the over-spending has ratcheted up to an annual pace of a $4 trillion deficit. The end of the fiscal year is September 30th and the vote buying is ramping up. True, it's a total waste of money like wars and golden ballrooms.
While all of this is true, and I greatly appreciate the content let’s be fair as I don’t see any mention or criticism in your article of Donald J Trump, who is the most responsible person for these deficits. Starting from the money he printed during Covid to this unnecessary war with Iran. It’s the forever wars, not just the Social Security that is the problem so let’s be fair and honest here.
This is ridiculous. Trump hates the welfare state but knows that R votes are dependent on it continuing. IOW they would slash it if it was politically feasible.
The Democrats not only want votes they actually support the welfare state as a matter of principle - they would increase it even if there were no extra votes in it.
If the fed can print 'let's pretend' money, then the interest due on that money should also be 'let's pretend'. If we can set different interest rates for different activities; real-estate, cars, HELOC's, education, etc., why can't we set a separate interest rate for the 'let's pretend' interest on the debt? If we're playing a let's pretend game, let's pretend the interest on the Federal debt is .001% and stop pretending to bury ourselves with these 'let's pretend' payments!
Imposing interest rate rules on the Fed is a good start toward dismantling it completely.
113 years ago, the Fed created a new debt money system that depended on interest paid by big perpetual debtors, like governments(repaid principal is extinguished upon receipt).
By now, our government is scrambling to sustain the debt money system with any new big spending projects they can think of (like AI data centers, big wars, universal income, alien attack threats and fraud)
Fraud was all that was left to spend big money on; and pandemics are good cover for fraud.
Basically, the Fed need the US gov to have a $40 trillion debt to sustain this system.
If they are clawing back waste, fraud and abuse, how can our debt be increasing? Also, I've heard some say that this administration wants to grow our way out, is that possible?
..."It’s a transfer state where the main purpose of your taxes is largely buying votes."...and so you vote and you get the same garbage over and over but it's just a different color.
Over the last two months, the over-spending has ratcheted up to an annual pace of a $4 trillion deficit. The end of the fiscal year is September 30th and the vote buying is ramping up. True, it's a total waste of money like wars and golden ballrooms.
Good points.
While all of this is true, and I greatly appreciate the content let’s be fair as I don’t see any mention or criticism in your article of Donald J Trump, who is the most responsible person for these deficits. Starting from the money he printed during Covid to this unnecessary war with Iran. It’s the forever wars, not just the Social Security that is the problem so let’s be fair and honest here.
This is ridiculous. Trump hates the welfare state but knows that R votes are dependent on it continuing. IOW they would slash it if it was politically feasible.
The Democrats not only want votes they actually support the welfare state as a matter of principle - they would increase it even if there were no extra votes in it.
How can you not see the difference?
The extreme disregard for ending waste and fraud tells us we better batten down the hatches and increase inflation protection allocation.
Thank you, Congress and the Fed. We are now speeding down the road to collapse. For those less historically endowed, history does repeat.
Thank you!, Mr. St Onge!
Now that we know what is coming we only need two things, what to do & when to do it!
I'm glad I subbed!
And I'll be watching closely to see what you suggest we do, since the political system is too corrupt for it to work.
Keep up the good work.
Have a GREAT day, Neighbor!
If the fed can print 'let's pretend' money, then the interest due on that money should also be 'let's pretend'. If we can set different interest rates for different activities; real-estate, cars, HELOC's, education, etc., why can't we set a separate interest rate for the 'let's pretend' interest on the debt? If we're playing a let's pretend game, let's pretend the interest on the Federal debt is .001% and stop pretending to bury ourselves with these 'let's pretend' payments!
The bond market doesn't play "let's pretend".
Imposing interest rate rules on the Fed is a good start toward dismantling it completely.
113 years ago, the Fed created a new debt money system that depended on interest paid by big perpetual debtors, like governments(repaid principal is extinguished upon receipt).
By now, our government is scrambling to sustain the debt money system with any new big spending projects they can think of (like AI data centers, big wars, universal income, alien attack threats and fraud)
Fraud was all that was left to spend big money on; and pandemics are good cover for fraud.
Basically, the Fed need the US gov to have a $40 trillion debt to sustain this system.
Americans can survive without it.
Social secuirty and pensions is not welfare - its only returning (usually a portion) of money back to the original owner.
Forever wars for Israel aren't cheap either.
Spot on cutting to the heart of the issue writing. Love it
If they are clawing back waste, fraud and abuse, how can our debt be increasing? Also, I've heard some say that this administration wants to grow our way out, is that possible?
Epic pain awaits on the road ahead.