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Politics : The Trump Presidency
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To: mel221 who wrote (117154)4/7/2019 6:58:56 PM
From: i-node  Read Replies (1) of 358360
 
When I was in my first year of college I had to take The intro to Economics course, at a time when the national debt was around 400B, I believe. My instructor, Curly Mason, informed the class that it was meaningless. Don’t worry about it.

But he was a lightweight economist, devoid of analytical skills.

If nothing else, the moment interest subsumed all revenue, finding buyers for debt will become impossible, as there is no “full faith and credit” backing it. And the inflation will come. It will be horribly ugly, but interest rates determine when that happens. Debt service as well as keeping the old folks happy with Medicare and SS will become increasingly difficult as they both run dry, over the coming 10-13 years.

Medicare is already being cut and pressure to do so will become more intense.

To be clear, these are problems the country has not previously faced.
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