Saturday, June 29, 2024

National Debt Crisis Will Destroy The USA (It Just Got Worse)


This is a great video that very clearly explains the problem.  It's only 8 minutes and worth watching.  

The problem is that the deficit over the next 10 years will be larger than the CBO is projecting because most of the tax cuts that expire in 2025 will be extended.  The only way of dealing with this is to print more money, but this will cause inflation, and the newly printed money won't be evenly distributed.  "Inflation creates a larger division between the haves and have-nots. When wealth inequality gets to a tipping point, there will be civil unrest."

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