Is that the smell of someone being cooked?
On federal level the deficit is actually the sum of wealth the US gov injects/ed into its economy. There is no such thing as ‘my taxdollar’ on fed level. The gov proposes policy, congress ok’s it and FedRes pays the bills. Through creation of new money from the 12 magic computers Elon discovered during his doge tenure.
Not so on state level: states have no monopoly over a currency and have to hold up their own pants or go bankrupt. ‘My taxdollar’ absolutely applies on state level.
Source: MMT/Sectoral Balances
Maybe we shouldn’t spend so much on the military then
And still have triple AAA rating 🤔
This seems like a very big deal, but I’m no financialologist
The United States casino.
Also federally defunded generations of scientists so that other countries will benefit from their expertise, ensuring that other global powers will be leading the charge and reaping the rewards of new, lucrative technologies.
Lot more money and power going byebye for a lot longer than just the current ledger.
Best we can do is a ballroom, oh and a new Middle Eastern war
And the beginnings of our very own holocaust.
I’d venture to guess it’s far more than beginnings and we just don’t know yet.
Don’t forget the Arc Du Trump.
don’t worry, it will be promptly fixed by firing people responsible for the statistics…
The project Squeezing America Dry (formerly Draining the Swamp) is complete.
The Great American Fire Sale isn’t over yet.
Looking forward to the US collapsing under the weight of its own incompetence.
I’m actually terrified of this. With all it’s flaws and even evilness - I/we can’t ignore the fact that it was keeping other major powers in check. China would far more likely invade Taiwan and likely whatever else they want, I’m in Baltics so… Russia won’t be so scared to attack it. Shipping lanes and global transportation of goods will no longer be protected by US (where credit is due, they really cared about it, up until Trump), other powers like Pakistan, Turkey and Venezuela might get funny ideas, etc.
Ironically, world without US would look less secure to me
Ironically, world without US would look less secure to me
On the other hand, the world wouldn’t have wars and coups, caused by the USA.
Sooo… Currently unstable regions get a bit less unstable and stable regions get to become unstable? I guess we would be nicely averaging out then. Is this us government communist after all? Equality for all, but not the equality anyone desired! :(
/s incase it wasn’t obvious
If the US goes down, they won’t be able to NIMBY over South America. Those countries can rise to prominence on the world stage.
Yeah, because the US military is just going to vanish if the government collapses.
All those aircraft carriers, nuclear subs, and land based missiles will just leave.
Gotta pay and feed your soldiers and sailors and pilots to keep that military running.
The US military will be too busy with power struggles to care about South America.
They’ll likely be subdivided between costal states and be scrapped. A lot of that shit is non-viable to maintain if you aren’t the US, if memory serves right aircraft carriers are generally built in Maine for example kinda doubt South Carolina has the infrastructure to maintain one.
Mind you that’s assuming a lot of things going a relatively specific way but I can’t imagine even a reduced federal government maintaining any of the fleets.
I, too, am actually terrified of this yet still looking forward to it.
we can’t ignore the fact that it was keeping other major powers in check
But otoh it was also always the major power stirring the pot, and more so recently. So much that that argument doesn’t hold anymore imo.
Same
Israel has the US to fund their economy. The US will need a similar sponsor to turn up or fail in the worst possible manner (if it isn’t already too late).
Yes. Us.
Land of the free! Just not free of debt though nobody is I suppose.
