The United States is $222 trillion in debt

Discussion in 'Political Opinions & Beliefs' started by ProgressivePower, Aug 30, 2019.

  1. dagosa

    dagosa Well-Known Member

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    Thought that might be “ over your head”.
     
  2. Belch

    Belch Well-Known Member

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    This is true, but it's a lot like saying you can always find a penny under the sofa cushions. You won't technically be broke, but you won't be able to buy anything with your vast wealth.

    If the federal reserve decided to just print 200 trillion (or whatever the number is) dollars and paid everybody off, the money wouldn't be worth anything. Since governments are funded through taxes paid for using those worthless notes, the salaries of government workers wouldn't be enough to buy an egg. Everybody could pay off their mortgages, debts would be wiped off the books, but banks would all fold. The government workers would become corrupt and you'd end up with another currency being accepted as payment by stores and cops who threaten to put you in prison if you don't slip them some real money.

    I routinely keep a $100 bill in my passport when visiting certain countries because that will buy you out of any trouble. You might get stopped for breaking some law you didn't know about, you show him your passport, the hundred bucks disappears in his pocket and you both go your separate ways.

    In other words, while the government can't technically go broke, realistically, it can get very very broke. Things tend to get very third worldish very quickly when that happens.
     
  3. squidward

    squidward Well-Known Member

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    Yeah, your clever metaphores are all that
     

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