Phillip Swagel on US Debt Burden, Inflation

No way out of debt burdens, already one foot in the grave.

It should be on every tv channel. However, it has just a few thoughts views on youtube...

900 billion will be needed to pay down debt or was that just the interest on the 33 trillion? It is like a total national military expensive owed on the interest a year?

Increased risk premiums on US government debt will also have budgetary implications. The resulting political strife will tend to increase those risk premiums.

"We've given ourselves tax cuts after tax cuts ... and somehow, there's no money for Social Security." or "We've spent trillions on senseless wars ... and we don't have money for Social Security". At some point, the American people either acknowledge that they're committing fiscal suicide or stop electing the same bought-and-paid for incumbents in both parties. Time to flush both parties. Or enjoy old age poverty.

Spending cut is easy. Stop spending billions on stirring shit around the world)) Ukraine, Palestine, Myanmar, Taiwan and spending on NGOs around the would. Cutting defence expense and MIC funding would alsohelp drastically reduce deficits))

Tax the millionaires and billionaires!

Somehow these government interest payments are helping to stop inflation? Hmm

This is the government’s debt, not the nation’s. The nation works hard.

Wow. None of this sounds good

1. The federal government does not owe the “federal debt. 2. The federal government does not borrow dollars 3. Social Security and Medicare Trust Funds cannot become insolvent 4. FICA does not fund Social Security or Medicare 5. Federal taxes do not fund anything. 6. T-bonds are not debt 7. Interest rates are not determined by investor demand 8. Taxpayers do not owe the federal debt 9. Federal deficits are necessary for economic growth 10. Federal surpluses cause depressions. 11. The federal debt/GDP ratio is meaningless. 12. Federal taxes are destroyed upon receipt.