The national debt surpassed a record $39 trillion on Wednesday, a milestone that comes just weeks into the U.S.-Israeli war in Iran.
The unprecedented figure highlights competing administration priorities, from passing a massive tax law and boosting defense spending and immigration enforcement to chipping away at the debt itself — the latter of which Donald Trump promised to do as both a candidate and as president.
We are going to find out. After they max out borrowing, presuming they succeed in fixing elections, and I don’t see what will stop them at this point, they will print money to pay treasury bills, and it will cause runaway inflation in a de facto default.
Like the European monarchies, always in debt, reeling from one crisis to the next, selling off profitable assets for money now losing money in the long term, not paying their soldiers, creditors. Killing their creditors if they can. Then watering down the currency, lowering the amount of precious metal, to pay creditors, which immediately caused inflation.
Fiat currency or no, the dollar will fail at some point with these clowns in charge, they are extracting everything they can from the federal government, that is their only reason for being.