Go, Economy!

[Fe 26]

Well, we're cutting taxes so I don't expect any help there.
Does the government think we're too big to fail?

Who knows. But that could be Russia's "just as keikaku" Over spending killed the USSR. Why would it not kill us? I guess because everyone backs their currency with ours, but who is to say how long that will last?

Are the people in charge too busy filling their own pockets now to care about tomorrow?

yes.

[bbobb]

Well, we're cutting taxes so I don't expect any help there.
Does the government think we're too big to fail? Are the people in charge too busy filling their own pockets now to care about tomorrow? Are we too free? I watched a John Oliver bit a few days ago, and there were people that have been bailed out to the tune of several hundred thousand dollars (or millions even) because their house is in a stupid place and they either can't leave (because the money is for repairs, not buyouts) or won't leave (because this here is ware i dun growed and taint leafin'!).

Are we going to be hauling wheelbarrows full of hundred dollar bills to buy bread or am I just being chicken little?

Technically we are too big to fail. The problem is you're looking at national debt the same as personal debt. It's not at all the same, as the gov't can technically print enough money to pay it off anytime it wants.

Not that would be a good idea, but that just highlights how different they are. That's not to say running up endless debt is good either, as that leads to inflationary issues. Currently inflation isn't an issue so more debt isn't a big issue right now, but there do need to be limits as it can start to cause inflation.

That said, this fucking tax cut with it's 1.5 trillion deficit is stupid as fuck all and will probably cause issues. The cost to recover from the disasters is nothing compared to that crap.

[GohanX]

The plan actually benefits me greatly, so I'll enjoy it for a while before it all crashes and burns.

[A Robot Bit Me]

That said, this fucking tax cut with it's 1.5 trillion deficit is stupid as fuck all and will probably cause issues. The cost to recover from the disasters is nothing compared to that crap.

We're getting there. $250 billion in relief for Harvey, Maria, and the CA wildfires collectively, plus twelve other $1b+ disasters this year. Granted these are damage costs, not federal relief figures, but it's pretty bad this year.

[Some Stupid Japanese Name]

I’m not worried about the deficit, but who owns our debt? (that’s rhetorical). If we can just print money to relieve the debt, why is there any debt at all. Why are we borrowing from Cheye Na if we can just do a couple extra runs on the printing press?

[kingoffighters]

A lot of foreign government (think Chinese) owns US Treasuries. Also, Dodd-Frank also created an artificial demand for our debt by requiring all banks to hold "High Quality Liquid Assets", and guess what classify as HQLA? US Treasuries and US cash.

The assumption is that our debt is the safest and during a financial crisis, people will sell other risky assets and buy our debt. But it seems like our government forgot about ass u me and the next crisis will probably be triggered by government debt default that starts a domino effect.

[Josh]

Because all of this is fake, fully out of our control, and nothing matters anyway. That’s why.

[Timber]

The more I learn the more I think South Park may have been spot on.

[bbobb]

If we can just print money to relieve the debt, why is there any debt at all. Why are we borrowing from Cheye Na if we can just do a couple extra runs on the printing press?

Because while technically it could be done once, inflation would then wreck shit.

2/3 of the debt is treasuries, and those are owned by a lot of people as KoF mentioned, including a lot of you here in your 401(k)s.

[Frogacuda]

I’m not worried about the deficit, but who owns our debt? (that’s rhetorical). If we can just print money to relieve the debt, why is there any debt at all. Why are we borrowing from Cheye Na if we can just do a couple extra runs on the printing press?

I know this was not a serious suggestion at a solution, but it is one of the oddities of the American system that the government actually doesn't own and control the federal reserve that prints the money.