The Unseen Cost of Government Largesse
With America’s debt now hovering near 125 percent of GDP, and deficits topping $1 trillion yearly as far as the eye can see, we can no longer ignore this drag on the US economy.
Source: The Unseen Cost of Government Largesse - Foundation for Economic Education
This article points out that one of the unseen costs of so much government borrowing is that it makes it so there is less available for anyone else to borrow. This means there is less available for private investment which has all kinds of negative consequences, including hindering scientific advancement. And it's not as if the government turns around and invests the money in useful ways for the American people (nor to they have the ability to do so efficiently anyway). Instead, billions and billions (and trillions) go to things like paying the pensions of Ukrainians, funding scientific studies with virtually no scientific value, building bridges to nowhere, and other nonsense.
But even worse, every penny that is borrowed must be paid back in some form of future tax which again means that there is less available for private investment. With ever rising debt comes ever rising interest on that debt. That means more and more of our tax dollars go to simply servicing the interest on the debt each year. You would think that the wealthiest country in the world could manage to balance a budget with ease, or at least come reasonably close to it. Instead, politicians want so badly to spend ever more of your tax dollars that they try to make the debt ceiling a taboo subject when it comes to negotiating the budget which is incidentally the only tactic that has had any success at all (however limited that success may have been).
Debt currently stands at somewhere near 125% of GDP. Where does it end? Perhaps only with the collapse of the dollar...
Algunos de esos son los que estoy necesitando, jaja tu lo has dicho el pueblo paga y los políticos gastan a su antojo sin ningún tipo de remordimiento.
People don't understand this. We are dangerously close to a collapse and too few understand it, let alone how to prepare.
Collapse is going to be really painful however the war in Russia actually is supporting the United States in ways we barely understand. The international military industrial complex and resulting economic support are keeping us afloat.
Is it even possible to pay all of the debt? Because of interest on central bank loans, there is more money owed than exists!
I remember back when the debt clock in NYC or whatever was an ominous reminder of how much the USA was overspending. It, like a Y2K clock, didn't have enough digits for the future, and if that clock still exists they had to add a few more numbers!