How/when does the U.S pay down debt?

[oldtimer28]

Covid/Modern Monetary Theory has blown out the deficit.

Democrats want to and most likely spend.

So what happens - I know this board has strong views left or right but please provide serious economic analysis and predictions.

It looks to portend the downfall of the U.S dollar (hence probably why crypto is going crazy - which I don't participate in).

But many have predicted the downfall of the U.S and were wrong (or too soon?)




Senate Majority Leader Chuck Schumer said that making enhanced child tax credits permanent is an important goal for Democrats, as they seek to move forward with bold new initiatives that also include legislation to upgrade U.S. infrastructure.

Senator Kirsten Gillibrand, Schumer’s fellow New York Democrat, called separately for enhancements for a nutrition program aimed at women, infants and children in the $1.9 trillion bill to be extended indefinitely.

[Facepalm]

No mention of Trump's $2.3 Trillion gift to corporations?

https://image.spreadshirtmedia.com/image-server/v1/mp/products/T1355A787MPA2756PT17X2Y28D1010342428FS19236Cx00000 0/views/1,width=378,height=378,appearanceId=787,background Color=F2F2F2/your-agenda-is-showing-unisex-heather-prism-t-shirt.jpg

[Cleverness]

^Trump's National State of Emergency (which you're a fan of) has effectively transferred way more than $2.3 trillion.

[oldtimer28]

Update for those that can't read. How about answering the post instead of (incorrectly guessing) what I think.

As for Republican vs Democrats posters, read these and comment on them if you like but please don't derail the thread.

https://towardsdatascience.com/which-party-adds-more-to-deficits-a6422c6b00d7

https://www.thebalance.com/democrats-vs-republicans-which-is-better-for-the-economy-4771839

[Stanley Kobrick]

https://i.redd.it/ml742t4yx2n61.jpg

[oldtimer28]

^Trump's National State of Emergency (which you're a fan of) has effectively transferred way more than $2.3 trillion.

You are completely wrong. My position has consistently been that lockdowns/pandemic fearmongering does more harm than good - especially longterm.

[Cleverness]

You are completely wrong. My position has consistently been that lockdowns/pandemic fearmongering does more harm than good - especially longterm.

I was replying to Facepalm, not you. I agree with you.

And you ask a good question, but the answer is simple: we're not paying it down and there is no plan to do so. #MMT

[Gayfuk]

Never.



It's okay to use foreigners as slaves.


Protect the American negros at all cost.



#BlackAmericanKings
#F*ckAfrica

[Axe]

Never.



It's okay to use foreigners as slaves.


Protect the American negros at all cost.



#BlackAmericanKings
#F*ckAfrica
Racism is ban-worthy here :milton

[Boris Pen]

Racism is ban-worthy here :milton

Me killing you is death worthy.

[Axe]

Me killing you is death worthy.
Calm yo tits kenny. For i am not your enemy.

[Rocket]

Neither political party seems to care much about the debt when they are in power. The government spends WAY too much frickin money. Most of it is pork designed to buy votes. Republicans can be really bad about it but democRATS are in a class all to themselves. Soon this country will fall due to the ever expanding debt and eroding value system both of which are accelerating daily to previously inconceivable levels.

[Doomsday Dallas]

https://i.redd.it/ml742t4yx2n61.jpg




Which is why we should all hand over our $1,400 stimulus checks to our kids.

good image.

[Axe]

Which is why we should all hand over our $1,400 stimulus checks to our kids.

good image.
But if they don't have kids yet, then where do you think they should go?

[Doomsday Dallas]

But if they don't have kids yet, then where do you think they should go?


Give it back.

Just like Russell Crowe did in the movie Cinderella Man.

He returned his welfare money back to the government because it was the right thing to do.

[oldtimer28]

I was replying to Facepalm, not you. I agree with you.

And you ask a good question, but the answer is simple: we're not paying it down and there is no plan to do so. #MMT

Thanks, sorry. I have facepalm (and many trolls) on ignore, so it looked like you were replying to me. I am pained by the sacrifice of liberties so quickly and the mob pressure to conform and not describe the emperor's new clothes so you r post hit a sensitive spot that I had to correct.

[oldtimer28]

So it seems the answer is never - it continues to grow until when and what?

What will it mean? Seriously, any economists?

[Doomsday Dallas]

So what happens - I know this board has strong views left or right but please provide serious economic analysis and predictions.



Well, I've mapped out two situations that will most likely develop in the next 6-8 years.

one, we will have a commercial real estate industry that will collapse. Hotels, Restaurants, Retail, Shopping, office space.... a lot of that will be cut in half. Much of this will be the demand not meeting the supply.

two, we will have a homeless epidemic that will spiral out of control much like it already has on the West Coast.

three, the government will give us solutions to both of these problems.



https://media.tenor.com/images/005c1ea2942ee5f973a957ed29db1d84/tenor.gif

This is America's commercial real estate industry.

it's the Next Big Short.

[Doomsday Dallas]

https://www.youtube.com/watch?v=lnnoV_X1UTw

[Axe]

Give it back.

Just like Russell Crowe did in the movie Cinderella Man.

He returned his welfare money back to the government because it was the right thing to do.
I see but if i only had mine's then i might as well donate it to the welfarefan so he can have some cash funds to keep his huffy two-wheeler fresh like a preserved garage queen

[oldtimer28]

Well, I've mapped out two situations that will most likely develop in the next 6-8 years.

one, we will have a commercial real estate industry that will collapse. Hotels, Restaurants, Retail, Shopping, office space.... a lot of that will be cut in half. Much of this will be the demand not meeting the supply.

two, we will have a homeless epidemic that will spiral out of control much like it already has on the West Coast.

three, the government will give us solutions to both of these problems.



https://media.tenor.com/images/005c1ea2942ee5f973a957ed29db1d84/tenor.gif

This is America's commercial real estate industry.

it's the Next Big Short.

Interesting but not economic analysis. Am sure Michael Burry used numbers to explain. Plus, then what?

You think gfc? 5 years later, markets started to boom like nothing happened. More debt was added.