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When you flip off the world, this is how they flip you back --- by refusing to buy USA debt. But the USA runs on credit. Interest on the nation debt is the si
by jqpabc123 2mo ago
When you flip off the world, this is how they flip you back --- by refusing to buy USA debt.
But the USA runs on credit. Interest on the nation debt is the single largest government expense --- larger than the US military, larger than Medicare. Way larger than all those wasteful social programs that Elon Musk was supposed to eliminate.
A lot of US debt is owned by foreign governments, foreign companies and individual foreign investors. When these folks stop buying, interest rates go up, inflation goes up --- economic growth in general slows down.
"America First" is insane fiscal policy for a country in this position.
https://budget.house.gov/press-release/interest-costs-surpass-national-defense-and-medicare-spending https://budget.house.gov/press-release/interest-costs-surpas...