The debt. More at the link. https://reason.com/video/the-next-p...the-national-debt-it-will-crater-the-economy/
As much as I like Reason, people have been saying this for 50+ years and it hasn't happened yet. It won't happen so long as the greenback is still the number one reserve currency on planet earth. Let me give you a medical analogy shared by a Doctor friend of mine. High blood sugar will kill you eventually. Low blood sugar will kill you today. The National Debt very well may come crashing down around us one day. But, this Pandemic is here today. Uncle Sam needs to turn on the presses and we need to start sending people back home.
I have to agree to some extent. As long as the idea of wealth is supported by money and the rich they are not going to let it crash completely. That does not mean the poor are protected from a crash since their only real purpose for the rich is to be pissed on and do all the real labor. An economic crash in america would take down the wealthy in a lot of places, and put others in front of them. They just are not going to give up their place at the table of power when they have poor people to fight and die for their power.
Agreed. To me the frustrating thing is that many of the tools that are available to the government in the form of stimulus were already being used to bolster the economy since that was the only thing Trump could hang his hat on for an achievement. Interest rates were already really low, QE had been going on for years, and we gave a tax cut to the richest 5% when we were at the top of the economic rollercoaster.
I thought this was going to be about the average citizens debt load but I guess that’s not really a problem...
Japan also doesn’t have a gigantic military that globetrotting around the world with a huge budget that if slashed in half could easily pay for our entitlement programs.
Wait...first you said our debt was the next pandemic. Now you're saying it's the military budget that's our next pandemic?
Sure seemed that way. You said the debt was the problem, but then when pointed out that Japan had more debt, you said that's because they don't have our military budget. The implication being that our debt wouldn't be a problem if it weren't for our military budget.
Okay, yes. I do believe the debt is a problem, but I do believe it would be less of a problem if we were to cut the military budget. Let me be clear. Running up the debt is a problem, IMO, but if we cut the military budget in half, I’d be more okay (for lack of a better word) with our entitlement programs, yadda , yadda, yadda.
I have to agree there. Ideally, we should need a military. Realistically, however, given human nature and the need to sabre rattle sadly demands one, albeit it really should be for defensive purposes only. Halting all international adventuring would be a good start.
The American military pulls back to a garrison force, someone else steps into that void. Probably China. And you likely wouldn't be too keen on how they'd arrange things in the world. But yes, there's plenty of room to re-think the American military. Just as one example, fixing the horribly broken procurement system could save a lot of money.
