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Given the enormous US government debt conservatively estimated at $37T and annual revenues of $1.86T, it seems like we are on the precipice of a debt spiral. I
by mikestew 3y ago
Given the enormous US government debt conservatively estimated at $37T and annual revenues of $1.86T, it seems like we are on the precipice of a debt spiral.
I've been hearing that my entire life, and I'm about ready to retire. I'm not going to argue it here, but I'd even say there are plenty of apologetics to say that some national debt is a good thing (and plenty of smarter folk than I have already written those arguments, I seriously recommend a search for them).
So to answer your question: no, I'm not worried, for several reasons. First, see the paragraph above. Second, there's not a damned thing I can do to keep it from all tumbling down, and if it does, I can't do anything about that, either. I could go all prepper, but that won't save you, either (not arguing that here, either).
And finally, at the risk of starting pointless arguments, the Republican party tends to start banging the "national debt" drum during election years, whereas any other year they don't give a shit (as evidenced by Congressional budget proposals). So to some extent I would argue that you're being sold a party line to make you worry enough to start posting such questions online, and hopefully vote the way "they" want you to.
- esotericimpl 3y ago[dead]
- wredcoll 3y agoThis is very well put, especially the point about certain people only start caring about federal debt right before elections.
- chiefalchemist 3y ago> 've been hearing that my entire life, and I'm about ready to retire. Yes, and over the course of your lifetime the value of your savings and your buying power has been systematically devalued. You might not be worried, but clearly the sociopolitical system is feeling the strain. Perhaps there's not much we can do about it now, but being in denial about how we got here doesn't make any sense either.