We’ve spent decades bleeding the middle and lower classes dry.
People get all up in arms about private equity groups buying up companies, extracting any value, saddling them with debt, and then skipping out, and understandably so, but that’s exactly what’s happening with the USA. It’s just at a larger scale. The principle remains the same.
Wow, just like all these people ‘going broke slowly’!
Slowly? Isn’t just the interest payment on the debt like $1 trillion a year now?
That interest was totally manageable when America was the largest economy in the world and looking to stay that way. It’s the whole deliberately burning down the economy that’s the real issue
I wouldn’t say manageable, it was only a matter of time before the debt would topple over since it compounds. That’s just what happens with anything that has assumed infinite growth. Deliberately burning down the economy of course accelerates the collapse.
That’s not how the national debt works or ever worked. Every time someone tried to pay it off it was a massive disaster. Clinton’s administration managed to pass a balanced budget that had many tangible benefits and some disputed downsides, but bush easily destroyed that when he took office. FYI, the balanced budget under Clinton was the last time, and only the second time ever, that had been done. Oh, and they did it by raising taxes on the rich and cutting defense spending. Imagine that
https://factually.co/fact-checks/politics/clinton-administration-budget-balance-dd9c9f
The US government is in a significant amount of debt which is constantly growing and will never be paid back. We needed to raise taxes on the wealthy and corporations, but we never did. We needed the banks to fail in 2008, but they stole our tax money. We needed a strong economic correction during a global pandemic, but instead they printed a fuck ton of money.
don’t let the Republicans off the hook like that. It wasn’t “they”, it was literally the guy we have right now, and all the same cronies, they just had different faces.
But… but… the’re making so much money from tariffs!!
and You JP MORGAN helped him.
As it is a great investment opportunity for them.
Trump ain’t going broke quickly, he’s adding to his gilt while lacking any guilt.
How is this news?
It’s been this way for years.
The news is that they are advising people to pull out. Keep in mind up til now this firm was telling people the us was a fine place to park your money.
Oooh no, they focus on the actual problem! Look at that! Too late tho.
Had to watch this video couple months ago about the debt. https://www.youtube.com/watch?v=PQOmqA5zgdsJust like all his businesses. Bankrupt.
And just like his other businesses, he’s pawning the furniture for his own wallet while it all crashes.
Being broke, hungry, sick, and unemployed is good for the economy! 🫲🍊🫱
Actually yes. You being broke, hungry, sick and unemployed is good for the top one percent’s economy.
What the fuck else are we supposed to do when wages are completely stagnant and everything is getting more expensive by the day?
spend everything on protection without starving.
When you expect bank runs and inflation you don’t save money you spend it on assets or survival and debt becomes meaningless.
But but mr orange rapist was supposed to run the government like a business and reduce the debt.
Mr President is amazing at running businesses, assuming that governments can even be run like businesses.
You all know it’s Bidens fault /s
