Does the United States have a spending problem? Obviously, but I really wanted to talk about how the cost of living crisis is presenting itself in your community. That relates to this article because you can’t squeeze blood from a stone. If all of you have no disposable income, no savings, and a job market that can’t support your current cost of living… What happens if you lose your job? Do you default on loan obligations along with America because we are stretched to the edge. Should we vote in members of congress to pass more tax breaks for private jets?Are mods whack? Let me know in the comments.
Its almost like this Trump chap doesn’t pay any attention to due debts.
I am out of work but old. I have savings that has gotten me by but it will run out. As incredibly bad and stupid as it would be I kinda hope trump does something to allow people to pull from retirement accounts before retirement without getting fees. Its the kind of relief he would do where it helps for the short term and completely fucks you for the long. When it comes to a roof over you head having it today is more useful than ten years from now. It will let some skate for awhile. Maybe I can get a 40 year mortgage.
Hopefully the social security kicks in soon, or you’re not that old! If you’re looking to buy a house I think there are some tax loopholes for using retirement savings. I’m sure trump and his cronies would also love to relieve you of your retirement in some diabolical way. So I’m guessing your job market is fucked too?
yeah and unfortunately im not that old. just into my 50’s so to far from retirement but definately a minus when job hunting along with being unemployed for over a year now. its like two strikes. I mean they won’t say that outright. honestly like anything when you look at how fucked so many people are I know im not getting the worst of it.
Just wait until people stop lending money to the US.
that’s the day when they stop trading with us, and mango seems to be working hard on bringing that day.
Seems like the US consumer is stuck between a government with drunk spending, and a ton of debt. Next to a corporation who’s squeezed every last penny out of people between wages and costs of goods and services. If GDP is to increase enough to pay off the debt, how does that happen? The only GDP growth comes from sucking up wages and monopolizing, and good old government spending.
They are going to tie the national debt into crypto and sink it.
I’ve got my eyes on that possibility as well. Although right now im kinda thinking they just dump crypto because they couldn’t sell the dream fast enough. Crypto might just be used to grift the crypto investors and not the entire globe. Time will tell.
Mods don’t want us discussing what our back up plans are for job loss. But if you lost your job today, what job would you apply to on indeed, and would there be enough money from that job to pay your current bills? Do you think there is security in your job market if you lose your job?
Mods also don’t want us talking about assassinating the entire Trump administration
Lmao is that what got removed from my last post? Im trying to gauge sentiment here and this is a reading.
If you’re talking about your “Vote like you will be competing against me for $16 an hour jobs.” post getting removed, it’s because this community only allows links to articles. It’s the first rule listed. If you want to self-post try something like !politicaldiscussion@lemmy.world instead. You can check the modlog for moderation actions taken on comments and posts btw (on the webui there’s a link at the bottom of the page)
fair enough. I’d argue that news articles really fail to capture some of the real politics and worthwhile discussions. There’s a reason why the rightwing media bought up all the local news agencies.
I don’t know about your post history. But the mods on .world are very pro-government.
I mean im pro government too. Order is one of the bonuses of living in a society.
So, which government do you like?
I sure do enjoy a democracy even if I have to vote with glass lickers.
So stop issuing bonds. They’re unnecessary in a fiat currency.
Totally necessary when you need to finance 10 Trillion dollars in tax cuts for the rich over 10 years. They also bolster international trade so it’s not all bad. Issuing bonds for infrastructure with built in returns for example good use of leverage and tax payer dollars.
I assume the first sentence is a joke.
Don’t know how they bolster international trade. If anything, they inhibit it as China parks its trillions of dollars in treasuries to artificially inflate the value of the dollar to make their exports more competitive and the US’s less.
The federal government doesn’t need bonds to fund infrastructure. It issues the currency. We don’t need to get a loan in a currency we issue.
I wish it was a joke, they just did that with the Big beautiful bill last year. It’s not an ideal way to use them and probably should be banned.
Japan/china hold US bonds because its makes for easy trading, it stabilizes the currency exchange market and allows for large payments to be made without much fuss. The only reason why they want our bonds is because we trade so much. chinas mechanism of controlling the exchange rate is the same as the US, we both like to just print more money. National bank buys bonds to stabilize market. anyway most of the time the bonds are held to avoid exchange rates. They themselves becoming a medium of trade like cash between nations.
Of course we don’t need to issue bonds at all for funding, again they are just a useful tool for global investing and trade. They get abused and extorted like any other financial market. christ imagine if we were using silver as a medium of exchange. their not really something I’d spend much effort defending politically, but economically idk I invest in them. They were kinda nice back when the federal government functioned
Other states have been dumping bonds at unprecedented levels and investing in BRICS.
Okay. And?
China was among them.
China is investing in China?
And?
You want the government to stop issuing bonds. If states are dumping them, there’s an inference there, somewhere.
I don’t really care about the national debt. The OP is worried about national debt. One way to fix that (if it bothers you) is to stop issuing debt. As bonds mature and aren’t replaced, no more debt.
What does it matter if “states” are dumping bonds? Who does it hurt if they sell bonds at a loss? Or a profit? What’s the inference?
No im concerned that we came together and made a budget that’s like 20% military 20% interest 40% boomer care and 20% rich people hand outs. Are we dumb?
If the USA can’t pay it’s debts, we can’t trade. Everyone should care about the national debt. It’s not coming out of the billionaires’ bank accounts, and multinational corporations will simply do business elsewhere. We don’t have the infrastructure to produce internally, and if our credit score degrades enough, we won’t be able to build it, either.
