-7 upvotes, 1 direct replies (showing 1)
View submission: Elon Musk can’t balance the budget
But now we’re trillions in debt. We kicked the can down the road for immediate gratification
Comment by FuckTripleH at 26/11/2024 at 14:55 UTC
7 upvotes, 1 direct replies
But now we’re trillions in debt.
Which doesn't mean a damn thing. National debt is only an issue if people don't believe your government is able to continue paying returns on its marketable securities and your country's industrial output is at productive capacity. The US is facing neither of those issues.
Federal debt isn't like getting a loan from the bank, it's primarily in the form of treasury bonds people buy because they're betting on the continued prosperity of the US economy. The only scenarios where the debt becomes a real issue are scenarios where the debt will be the least of our worries.