Every single day, the United States pays $3 billion in interest on its national debt.
That money doesn't go to a single human being you will ever meet.
It goes straight to the people who already own everything.
The debt itself sits at $38.91 trillion.
Politicians write $3 billion daily cheques to JPMorgan, BlackRock, the Saudi sovereign wealth fund, the People's Bank of China and Japanese pension funds. The debt ceiling is also a massive scam. The interest gets paid first automatically. Your tax dollar lands in a bondholder's account before it lands anywhere else.
This is not fiscal mismanagement, that would imply someone is trying to manage it. Nobody is trying.
Then they debase the dollar to inflate the debt away, so you pay it twice. Once on your spending, and once on the bonds that financed the spending you never asked for.
And there is no exit. They cannot raise rates without breaking the Treasury market. They cannot cut rates without lighting another inflation fire. So they grind. Forever. $3 billion at a time. Day after day. Year after year.
The right calls this socialism. The left calls this capitalism. Both are wrong.
This is feudalism.
The cost-of-living crisis is really a sovereign debt crisis.
You can only print and borrow for so long.
It causes problems in the long run.
And the long run is here.
Today, Los Angeles and the Bay Area will see 130 flights in both directions, equivalent to a plane departing every 6.5 minutes for 18 hours a day. Hard to argue it's not a perfect candidate for fast trains.
@kennymxu The TARP act was signed into law by President Bush (R) as part of EESA and gave banks $700B. Obama continued it and the program later had a $1B profit in paybacks. I personally hate banks and the fiat system, but this is not all on Obama, the printer has been running since 1971.
@Logically_JC PBS does awful things like help with our literacy rate at $2/taxpayer/year. Over 1000 evalautions and 146 studies for 40+ years have shown 90%+ positive impacts on early reading and language arts. So, will it be replaced with a concept of a plan?
I was excited to hear that President Trump is open to the idea of being the next Pope. This would truly be a dark horse candidate, but I would ask the papal conclave and Catholic faithful to keep an open mind about this possibility!
The first Pope-U.S. President combination has many upsides. Watching for white smoke…. Trump MMXXVIII!