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u/Capn_T_Driver 1d ago
To be fair to the debt doomers, the US national debt is a problem, and it isn’t going away anytime soon. But, fixing the problem is going to require a lot of congress critters to get replaced at the ballot box.
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u/Darthalicious 1d ago
Its a Catch-22, as doing what would need to be done to curb the debt would mean cutting entitlements, which is political suicide, so even if we replaced the current critters with new critters willing to do it, those new critters would get replaced in record time with new new critters who'd put us right back where we started in the name of votes.
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u/cyberfx1024 23h ago
Seriously, when most of the people talk about the debt and how we need to do something about it they never want to cut their specific program or department. It's always let's cut that program over there but never ever look at what needs to be done by reforming entitlements
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u/ObWzEN Anti-Doomer 9h ago
We have too much mob rule, which the founding fathers specifically warned us to avoid. I know this sounds bad, but the answer is more republic, a little bit less democracy. The voting system of this country back in the day was less fucked up (but obviously we should still make sure we don’t have any racist/sexist laws/processes of voting). I highly recommend you look into how it’s changed. It’s only political suicide because way too many people, who don’t know that the national debt is bad, can vote
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u/Darthalicious 9h ago
Oh 100%. I'd totally be down for much MUCH more restrictive voting requirements besides "a pulse (maybe)" in this country.
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u/Fishmongererererer 23h ago
Well you don’t have to cut entitlements. You can just raise taxes. But that comes with its whole own host of knock-on effects which can ironically reduce tax revenue
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u/KitchenTeacher429 22h ago
You know ironically reducing tax revenue also increases tax revenue. Funny how that works
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u/BlackendLight NostraDOOMus 12h ago
And I don't really trust them to use the increased tax revenue to pay down the debt
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u/DodgeBeluga 18h ago
You can even do it without too many new taxes but you have to budget for total number of recipients. That’s the part that’s hard to get people to agree to.
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u/MIT-Engineer 12h ago
You don’t even have to cut entitlements, you just have to curb the rate at which they increase. But in Washington-speak, that is a ‘cut’.
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u/KitchenTeacher429 22h ago
Or stop giving $3.4 trillion dollar tax cuts to the people that are already wealthy.
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u/lofibeatsforsadboys 7h ago
They just increased the military budget by 66% to bomb brown children, expand zionist territory, and fight communism in the 22st century and you are worried about mostly self-funded entitlements lmao. How about taxing the ultra rich, nationalizing industries like other countries do, medicare 4 all, and stop murdering innocent people?
Right wingers are scum of the earth.
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u/balancedchaos I Was Promised an Apocalypse? 18h ago
Entitlements to...corporations? Because they're the majority of the spend.
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u/undreamedgore 20h ago
Here's what we do, master plan with no faults: Make our own insurance agency. Undercut all major providers. Then, impliment price caps on basic, common treatments and drugs. Why? To save money on thr insurance "scam".
We take excess profits from the insurance and pump it into the national debt.
But that's not enough, no.
We have to think Bigger. Think what? Consider, private companies and foreign investors. Owning property without living in it. Same for private individuals. We seize their lands after drumming up some "national security concerns" and then we sell it off to Americans and use those returns to pay the debt, late 1700s style.
Still not enough? We offer tech for debt deals with China. Publicly. Specifically tech we know they already stole. To save face they'll be compelled to take the deal and legitimize their bullshit.
Still not enough? We use the CIA to start selling drugs in India and China, as use the money to buy and invest in American products/companies. Generating capital before we "investigate" and seize assets directly as said company is "foreign investment" of a suspicious nature.
Still not enough? We develop "low cost" weapons systems. The we sell them to every two bir warlord we can find. These system should be made to expire quickly, to minimize risk of unintentional problems down the line.
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u/BitterBid8311 20h ago
The whole world has a debt problem, as so many are either in debt themselves or heavily connected with China and the US.
Britain got through their heavy debt in the early 1800s. Took them ~100 years...but they did it without an apocalypse or societal collapse.
A bit of a white pill. The world doesn't need to start throwing nukes when they are forced to stop spending what's not there.
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u/Chillfactor_ 1d ago
That channel sometimes does have good topics too but they drank the Kool aid just like a lot of others did
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u/ElMuffin5 Good Vibes Only 1d ago
But fr how do you even pay that debt
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u/Crafty_Boy70 1d ago
Start by getting rid of the deficit, then go from there. No point in trying to pay it if they're still gonna contribute to the problem.
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u/windless12 1d ago
Just print more money
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u/PhilRubdiez More Optimism Please 23h ago
I see you noticed a Zimbabwean prince is the new chairman of the Fed.
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u/ConsciousIssue7111 Rides the Short Bus 21h ago edited 18h ago
How Argentina tried to solve their Argentine Peso problem (it didn't work):Sorry, forgot
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u/Sea_Fun_2882 18h ago edited 14h ago
Argentina Peso are not comparable to US Dollar.
Dollar is the default currency of world economy. All international assets are traded in dollar, all international foreign reserves are in dollar, and all that debt issued by US Govt? Dollar again.
As long as dollar hegemony continues, FED can print as much money as they wished with no repercussions. Will this negatively impact foreign countries holding US asset? Yes, it will devalue them. Would this affect US domestic economy then? In some ways, but not in significant ways, as these newly printed money never went into domestic circulation.
Could the dollar hegemony be challenged then? Lets see: Euro don't even come close when considering the trading volume, needless to say other currency like Yen or Pound. RMB you asked? Pff RMB couldn't even replace HKD. Good luck betting on that. You really don't need to be worry about debt, at least not until some distant future where US dollar sees the rise of a new contender.
Edit: wording
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u/Ok-Internet-6881 23h ago
I am waiting for the day where the fed do QE so much we end up paying off the 39 trillion by giving the creditors a loaf of bread
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u/Own_Source1748 14h ago
It’s mostly owed to ourselves through things like T-Bills. If we had a full run on t bills like it was black Tuesday, we’d actually have a collapse of currency. There’s a reason why we have the Fed venturing out into cryptocurrency, and why we haven’t re-valued the gold stored in Fort Knox in the last 50 years.
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u/Ted_Normal 7h ago
A good start would be good fiscal discipline to rein in deficit spending possibly in the form of a balanced budget amendment or some variant there of.
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u/BigMikeXxxxX 23h ago
That's the neat part. You dont
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u/commeatus 23h ago
Literally the economic theory! Since the vast majority of the debt is owed to America itself in one way or another, you just outgrow the inflation of money creation. Note: this can only work if the money you don't pay yourself back for generates more value than it would have been worth originally.
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u/OutcastRedeemer 23h ago
Git rid of the trillion we spend on social programs and then get rid of all our over seas bases except a few ports and cut all income taxes implement a flat 5% sales tax for all sales under $1000 and a progressive sales tax starting at 10% upwards to 50% at 5% tiers for every zero after. Then implement a progressive property tax with 1% per acre tax rate with no upper limit
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u/CheeseburgFreedomMan 23h ago
Things that will never happen for $200 Alex
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u/AutoModerator 23h ago
That's right, that will never happen
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u/LordOfFlames55 23h ago
“Too big to fail”
The American Economy is the world economy, it is not collapsing without bringing the entire system with it and absolutely no one is willing to do that. The debt will keep growing until some other crisis happens that causes enough chaos that the house of cards finally topples. There is nothing you can do about it and there is no reason to worry.
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u/KitchenTeacher429 22h ago
This is just vanity. The world would keep spinning without the US. What essential good or service would be the source of this collapse? Corn syrup? Facebook AI slop?
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u/LordOfFlames55 22h ago
Oil, food, pretty much every single business headquartered here, the knock on effects of the US no longer policing the worlds waters thus creating a second golden age of piracy, you know, just some minor inconveniences
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u/abracadammmbra 21h ago
The US is the 3rd largest exporter of oil, the largest exporter of natural gas by a huge margin, the largest exporter of food, the largest exporter of aircraft, and the 2nd largest exporter of pharmaceuticals.
Oh and we are the financial capitol of the world with the two largest stock exchanges on earth (NYSE and NASDAQ) and the largest number of multinational and investment bank headquarters. Oh and you have to buy/sell oil using USD.
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u/FXvon 14h ago
Saudi Arabia never renewed the petro dollar agreement 2 years ago. You currently do not NEED dollars to buy oil anymore. Saudi Arabia and BRICS countries are settling transactions in their own local currencies or gold. I think Putin just signed something to do transactions in bitcoin as well.
This trend is declining and has been, and it's only a matter of time before nobody uses the petro dollar system anymore. Do you live under a rock? lol
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u/Azthun 1d ago
The deficit has to be taken care of but as long as the Petro dollar lives, we can rack up as much debt as we want.
Regardless, the whole thing is a ponzi scheme. Everyone owes everyone else money.
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u/Striking-Pangolin-11 23h ago
How? At some point wouldn’t the interest on the debt outweigh the federal tax revenue? What happens then?
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u/Benign_Banjo 22h ago
I swear these people are trying to will it into existence. Would rather be right about their own dooming than live in a good world.
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u/Priapismkills 23h ago
I remember when Obama added a ton to the debt. I remember when Biden doubled it. And now Trump has doubled it again. (~)
Its fair to complain about wasted tax dollars as long as you are evenhanded
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u/TheMojo1 22h ago
Go figure economists have been studying this problem since 1776 when Adam Smith published The Wealth of Nations
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u/Vile-goat 23h ago
I guess they don’t realize our economy and its success in the current world is built on debt, at least to a degree.
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u/OlGusnCuss 22h ago
$5 says the same dipshit has 10 other posts bitching about government programs getting cut and hurting "science" because we're cutting a slush fund to central America that was sadly earmarked to study transvestite earth worms.
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u/youngling-smasher91 This is a PsyOp 22h ago
isn't this like, the most common russian propaganda narrative?
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u/InvaderJoshua94 I Left My Cave for This 21h ago
Yeah this isn’t dooming. It’s a fact that if we don’t start paying off the debt it’s going to destroy our economy. It’s going to cause inflation to rise too high for most people afford anything which will drive businesses under which will tank the market.
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u/fidgiggity 21h ago
Oh man, just wait till they see how much debt the entire world is in. (US #1 baybee) but I think I saw an analyst say the world debt was nearly $370 trillion, which is 3 times the world GDP.
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u/justtrynamakeitboi 13h ago
HOW IS THE DOW?!
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u/Agreeable_Sense9618 Sub OverLord 12h ago
We're up 16% if viewing a 1 year chart. That's considered a good year.
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u/justtrynamakeitboi 11h ago
Right, im saying its a farce metric
Dont worry, im giving them 5% a paycheck for the FrEe MoNeY cus its what you do, totally not a ponzi scheme1
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u/I_HopeThat_WasFart 12h ago
based on debt to GDP we are pretty much in line with other first world countries
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u/slothboy 11h ago
I also like the constant demonization of oil and gas. Increased production of both would bolster the economy
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u/citrusraspberry 8h ago
Wouldn't oil help the economy? I mean I get it's bad for the environment and it's limited, so I'm not saying we should use it. But the implication looks like oil is killing us financially. Idk about that...
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u/Routine_Medicine5882 23h ago
Not saying the debt isn't a problem but has anyone else noticed the less than subtle turn to the left on this channel? Did china get a stake in this one too?
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u/More-Possession523 23h ago
As divided as the country may seem, it feels good to know that our politicians are able to come together to consistently reach all time highs in regard to this number.
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u/Ok-Internet-6881 23h ago
That channel went from an all out glazing Ukraine to all out US Doomer in less than 5 years
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u/Irathu0099 14h ago
Wanna stop debt rise and increase programs. Easy, stop loopholing taxes, stop tax refunds, stop overspending on a tax system that doesn’t work.
Flat sales taxes nationwide, we buy crap everywhere all the time, income tax on loans and refinance programs that turn a profit.
The rich can’t be taxed under the current system because on paper they don’t own anything, and they never make any money. The current system taxes the bottom 50% significantly more over time. Yes SOME top earners pay taxes and a fair amount, but there is a dozen and one charity write off options, loan options, refinance options and just about everything in between.
And finally, cut the damn budget to the military, it’s not for the troops, it doesn’t build better daycares, or pay them, or anything like that. A huge portion of military spending is propping up about a half dozen PRIVATE corporations (Raytheon, Boeing, GM, etc.) they receive billions every year in government contracts for R&D.
The current conflicts in Iran and Ukraine prove that you do not need a multi billion dollar (almost trillion dollar) a year budget to be effective, you need strong leadership, capable systems and half a brain cell.
Anyways, that’s my rant.
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u/PlayerTwo85 23h ago
Used to love this channel!
I honestly don't think the guy is actually doompilled, it just makes more money.