US US Politics General - Discussion of President Biden and other politicians

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Some Dumb Faggot said:
It's actually worse than that, typically the Fed Reserve is very generous with those predictions to avoid freaking people out. Then ontop of that they went full retard-mode with money printing and spending to run the scamdemic.

Before the debt-ceiling deal was reached the Feds only had about 59 billion in cash left, so the US is effectively broke.

Not to power-level, but my father was the VP of a large accounting firm for 40 years and recently I asked him what he thought. He said that the US would probably be destitute before the end of the decade, maybe sooner if the US gets involved in a large conflict.
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The only way the government can "run out of money" is if Congress orders spending, then chooses not to authorize the Treasury to borrow the funds needed to spend the money. Since the Treasury borrows money indirectly from the Federal Reserve, and the Fed prints it out of thin air, the limit's infinite.

The deal with Social Security is the program is the money to pay for it is pre-borrowed. Back when the program was in surplus, the government spent the money and issued bonds to itself. The program's now in deficit, so it's selling those bonds. It's expected to run out of bonds in 2030, so in order to keep writing checks to old people, either:
  1. Congress authorizes more borrowing
  2. Congress reforms the program, maybe pushes up the retirement age
  3. Congress does nothing, and benefits are automatically cut
Congress has never actually cut anything when a current statutory limit on borrowing is hit, so we all know what they're going to do.
 
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The Ugly One said:
The only way the government can "run out of money" is if Congress orders spending, then chooses not to authorize the Treasury to borrow the funds needed to spend the money. Since the Treasury borrows money indirectly from the Federal Reserve, and the Fed prints it out of thin air, the limit's infinite.

The deal with Social Security is the program is the money to pay for it is pre-borrowed. Back when the program was in surplus, the government spent the money and issued bonds to itself. The program's now in deficit, so it's selling those bonds. It's expected to run out of bonds in 2030, so in order to keep writing checks to old people, either:
  1. Congress authorizes more borrowing
  2. Congress reforms the program, maybe pushes up the retirement age
  3. Congress does nothing, and benefits are automatically cut
Congress has never actually cut anything when a current statutory limit on borrowing is hit, so we all know what they're going to do.
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Well, that's where I'm getting at the US is already destitue, the US just prints up more everytime it runs out. it would be political suicide to let the welfare benefits run out which is something no politician would ever let happen. What will happen is the Fed Reserve will have to return to QE and print up the money which will cause the dollar to inflate.

If this happens inflation can get alot worse than it already is, they would have to print so much money that the USD would lose it's spending power. If inflation gets bad enough people will start dropping the dollar in order to preserve their wealth.

So you're right, the US will never let itself run out of money because they control the printing press. But eventually they will have to print so much money that the dollar will become worthless and people will drop it to save themselves.
 
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make_it_so said:
Or someone realized that the Millenial chucklefucks running State have fucked up so badly they had to call in help from someone who actually knows what he's doing.
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Sure, that's true, but I don't see what Kissinger is supposed to do here. Get them to buy more US bonds? China wants to diversify its Forex portfolio just in case the US activates the money printer again. Get them to stop trading with Russia? No, trade brings prosperity and sanctions prevents it by design. I think Kissinger is there for WEF reasons rather than US reasons.
 
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The Ugly One said:
The only way the government can "run out of money" is if Congress orders spending, then chooses not to authorize the Treasury to borrow the funds needed to spend the money. Since the Treasury borrows money indirectly from the Federal Reserve, and the Fed prints it out of thin air, the limit's infinite.

The deal with Social Security is the program is the money to pay for it is pre-borrowed. Back when the program was in surplus, the government spent the money and issued bonds to itself. The program's now in deficit, so it's selling those bonds. It's expected to run out of bonds in 2030, so in order to keep writing checks to old people, either:
  1. Congress authorizes more borrowing
  2. Congress reforms the program, maybe pushes up the retirement age
  3. Congress does nothing, and benefits are automatically cut
Congress has never actually cut anything when a current statutory limit on borrowing is hit, so we all know what they're going to do.
Click to expand...
For social security, the government can invent all the money it needs, but if there's not enough supply of elder care shit, it won't matter. And if it does exist, then that essentially means that some massive percentage of all national productivity will be put toward the comfort of people who are just waiting around to die.
 
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pwnest injun said:
For social security, the government can invent all the money it needs, but if there's not enough supply of elder care shit, it won't matter. And if it does exist, then that essentially means that some massive percentage of all national productivity will be put toward the comfort of people who are just waiting around to die.
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Sounds like the kind of problem only unlimited 3rd world immigration can solve!
 
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The Ugly One said:
Sounds like the kind of problem only unlimited 3rd world immigration can solve!
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Not even as a joke, no. On both the population decline front and medical services front.

Which is the problem with that as a solution, it's retarded. I'm sure you and everyone here who's a regular knows that already but it bears repeating, I think.
 
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Vesperus said:
Nah. Romulus Augustus still turns up in Roman histories, albeit in the last chapter.
Some people are so fucked up history always remembers them, if only as a warning to future generations.
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Honestly Romulus Augustus wasn't that messed up. Just a child puppet emperor of an Empire that was already braindead with whatever barbarian general was in power that week puppeting its vegetative emaciated limbs to direct gibs. Odoacer just pulled the plug when he realized the grift was no longer worth it. At least the Eastern Empire died in a blaze of glory with the last emperor dying a hero's death. The Western Empire died with a whimper, and it wasn't really a single person's fault.
 
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