The National Debt
The national debt is obviously on an unsustainable path.
Can someone explain how the United States is not totally fucked? Thanks.
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Can someone please bring this up every time the defense budget is questioned? Kthx
Yeah I'm pretty sure we're fvcked.
The nation's defense is actually a rare constitutional directive of the federal government, unlike the entitlement/welfare state. It's funny, liberals are all the same, whether it's at the federal or local level. At the federal level, whenever the budget needs cutting, liberals' knee jerk reaction is to say cut spending on the one area (defense) where the gov't has a constitutional mandate to the benefit of the welfare (i.e. slave) state. At the local level (and we've seen this all over the U.S. the last 24 months), when the budget becomes tight, liberals start cutting the police and fire department so that the unionized regulatory bureaucracy remains, even at the expense of public safety (see Newark, NJ and St Louis, MO).
The one thing I've learned growing up in a highly politicized and highly liberal Washington, D.C. is that liberals are as predictable as objects under the laws of gravity and talk like a broken record.
Because the US debt is denominated in US dollars. Until that changes there is no amount of debt the US cannot print its way out of. It may suck in the short term, but if it comes down to it, the US isn't like Greece which can't devalue it's own currency, or Russia which had to pay its debts in other currencies or even Wiemar Germany which had to pay dollar denominated debts with marks.
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