Given the constant drumbeat for more, I’m guessing not. That debt is $29 trillion by the way. Not even Musk can help.
Look at the trends, does it matter? Do you think politicians are telling you the truth about spending, taxes, liabilities or the long-term implications of unfunded promises by government?
Do you believe only 1% of American taxpayers can or should carry the fiscal burden for what the 99% want or believe they are entitled to – expanded Medicare, higher Social Security benefits, premium subsidies, student loan forgiveness, more tax credits, just more?
You are wasting your time. Instead, go out there and spend, spend, spend, borrow, borrow, borrow.
Until we are Venezuela, or Weimar’s Germany, or some other variant of hyperinflation, little will be accomplished.
They are all on a sugar high. And, once we are in a period of hyperinflation, it will take a recession or depression to wring it out of our economy – a true detox effort like the world has never seen. And, yes, because it is the United States, it will trigger a world-wide depression. See https://www.thebalance.com/what-is-hyperinflation-definition-causes-and-examples-3306097
Did you hear even one word from any of the D’s, from Biden or from Trump, regarding the deficit, when they all ran for president in 2020? No, from the D’s, it was lets have a lot of free stuff. From Trump, it was I won’t touch Social Security or Medicare.
Biden – 1/20/21 – 12/24/21, Up $1.6T $27,751,896,236,414.77 $29,366,487,278,631.21
Trump 1/20/17 – 1/20/21, Up 8T $19,947,304,555,212.49 $27,751,896,236,414.77
Obama 1/20/09 – 1/20/17, Up $9T $10,626,877,048,913.08 $19,947,304,555,212.49
Bush II 1/22/01 – 1/20/09, Up $5T $5,728,195,796,181.57 $10,626,877,048,913.08
That’s 21 unbroken years of profligate spending far in excess of revenues. And, if you look at the White House or CBO projections, they are $1+T each year for as far as the eye can see or anyone wants to project.
We will be pawns in the New World Order. Serfs and Underlings, owning nothing and anesthetized to meaningful life, we will exist hand to mouth crawling over our mother or other people to get at the scraps thrown at us for the day. I may not see it , I pray my friends and family members don’t either. Only God can intervene in the future we built for ourselves unless we get a dose of sanity.
The national debt concerns me very much. The Debt per Citizen is my grandkids future. Politicians complain the student debt is hurting people, wait until this house of cards falls crushing Americans with the cutting of entitlements.
The other number to watch is Interest on the Debt. The highest rate that I ever got on an US Savings I-bond was just under 5% in the mid 2000’s. They currently are selling for 7.12%. The Federal Reserve can only keep interest rates so low for so long. The markets will start demanding higher rates on bonds because of the risk. Higher interest rates will make that debt number grow even faster without any new spending.
The last time that I had CD’s greater than 7% was in the 1980s with 10-14% mortgages. I don’t ever want to go back to that.