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Why is this a news? Doesn't federal debt mature all the time?
it just opens the discussion on this general topic, but nothing really about the specific thing being discussed
Earlier quoted context omitted.
The US Government spends more money than it takes in taxes. In order to finance the difference it takes out loans (in many ways just like you might take out a loan to buy something). These loans take the form of government bonds. Various people/organizations buy these bonds and give the US government money. Later on these bonds "mature" and those people get their money back plus some interest. This post is saying tha…
One buyer, in particular, most likely will stop buying and that is China.
"If you have the right people, like, in the agencies and the various people that do the balancing ... you can cut the numbers by two pennies and three pennies and balance a budget quickly and have a stronger and better country." -Trump "I’m pledging to cut the deficit by half by the end of my first term in office." -Obama "We must balance the federal budget. We can do so without raising taxes. What we need to do is i…
Obama did cut the deficit in half. More than half. At least over the course of his entire presidency, not sure about the first term.
Can someone ELI5 what this means?
"If you have the right people, like, in the agencies and the various people that do the balancing ... you can cut the numbers by two pennies and three pennies and balance a budget quickly and have a stronger and better country." -Trump "I’m pledging to cut the deficit by half by the end of my first term in office." -Obama "We must balance the federal budget. We can do so without raising taxes. What we need to do is i…
Obama did cut the deficit in half. More than half. At least over the course of his entire presidency, not sure about the first term.
"If you have the right people, like, in the agencies and the various people that do the balancing ... you can cut the numbers by two pennies and three pennies and balance a budget quickly and have a stronger and better country." -Trump "I’m pledging to cut the deficit by half by the end of my first term in office." -Obama "We must balance the federal budget. We can do so without raising taxes. What we need to do is i…
Obama did cut the deficit in half. More than half. At least over the course of his entire presidency, not sure about the first term.
The US and world economies are enumerated with USD - a fiat currency. The government says “you may pay your debts with our currency” and only they supply it. Which means all money comes from the government and only the government.
Am I wrong in thinking that this doesn't bode well for the value of the dollar over time, and will likely cause hyperinflation?
The bulwark that protects the Federal Reserve has been steadily attacked from the right since the financial crisis. The GOP almost revolted against Bush for the bail-out, and because the government was slow to respond and did so anemically the Federal Reserve stepped into the void with massive infusions of cash. This resulted in cries for the Federal Reserve's independence to be diminished. Such opponents were never forced to reconcile with the fact that the Federal Reserve saved our bacon.
Elsewhere, on both the left and right, you have the constant reminders that fiscal debt can be "fixed" by inflating away the debt. If our political culture continues to internalize that notion then at some point when things become more dire we may actually attempt it. But in as much as it's a viable approach, it could only possibly work from a position of fiscal and monetary strength, a position we would surely not be in were we seriously contemplating it.
"If you have the right people, like, in the agencies and the various people that do the balancing ... you can cut the numbers by two pennies and three pennies and balance a budget quickly and have a stronger and better country." -Trump "I’m pledging to cut the deficit by half by the end of my first term in office." -Obama "We must balance the federal budget. We can do so without raising taxes. What we need to do is i…
Obama did cut the deficit in half. More than half. At least over the course of his entire presidency, not sure about the first term.
Earlier quoted context omitted.
Obama did cut the deficit in half. More than half. At least over the course of his entire presidency, not sure about the first term.
He did, but only after he doubled it his first couple years.