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Not sure if its fixable in the millennial's lifetime. Government can't do anything as boomers ran up the national debt by slashing their taxes. There's no mon
by adrr 9y ago
Not sure if its fixable in the millennial's lifetime. Government can't do anything as boomers ran up the national debt by slashing their taxes. There's no money to go around. There's also a huge infrastructure bill thats also coming due as it wasn't upgraded. Bridges, public utilities, dams, mass transit all need to be fixed at they are past their lifespans. Lot of it was built during "greatest generation" period and not touched afterwards. American Society of Civil Engineers estimate at least $2 trillion to fix our infrastructure over the next 10 years.
- peatmoss 9y ago> at least $2 trillion to fix our infrastructure over the next 10 years. I can only hope that some of this translates into some kind of New Deal work. Being just older than the millennials, I have felt for some time that I grabbed the last rung of a ladder being dangled from a helicopter as the building under me was crumbling into flames.
- eli_gottlieb 9y agoThat sounds like a hell of a lot of well-paid jobs to rebuild that infrastructure, and some great productivity improvements from modernizing.
- colorint 9y ago>national debt [...] no money to go around Let's imagine that I'm a government that reserves the right to be sole issuer of my country's currency (though for political reasons I've delegated that power to a government-sponsored enterprise whose leadership I appoint). Now let's say I also issue securities denominated in that money. From my perspective, what's the difference between money and claims on money? From a holder's perspective, what's the difference between them? Even the obvious difference, one has yield and one does not, is pretty misleading, since the interbank rate tracks the securities rate.