If You Think The Riots Are Bad Now, Wait Until America Goes Bankrupt In A Few Years

[mystery-ak]

 If You Think The Riots Are Bad Now, Wait Until America Goes Bankrupt In A Few Years
Medicare is functionally insolvent, people are getting way more from entitlements than they paid in, and Congress has been spending like drunken sailors for decades with no signs of stopping.
Christopher Jacobs
By Christopher Jacobs
February 3, 2021

Two data points explain the current debate in Washington on more rounds of COVID spending. The Biden administration’s repeated statements that “the risk is not…going too small, but…going not big enough” reflects a position Joe Biden publicly articulated while serving in the Obama administration a dozen years ago:


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As to the cumulative effects of these policies, the budget resolution itself tells the tale, with its projected estimates of the total national debt over the coming decade:

    (5) PUBLIC DEBT.—Pursuant to section 4 301(a)(5) of the Congressional Budget Act of 1974 (2 U.S.C. 632(a)(5)), the appropriate levels of the public debt are as follows:

    Fiscal year 2021: $29,943,000,000,000.

    Fiscal year 2022: $31,647,000,000,000.

    Fiscal year 2023: $32,911,000,000,000.

    Fiscal year 2024: $34,102,000,000,000.

    Fiscal year 2025: $35,262,000,000,000.

    Fiscal year 2026: $36,311,000,000,000.

    Fiscal year 2027: $37,261,000,000,000.

    Fiscal year 2028: $38,443,000,000,000.

    Fiscal year 2029: $39,652,000,000,000.

    Fiscal year 2030: $41,068,000,000,000.

more
https://thefederalist.com/2021/02/03/if-you-think-the-riots-are-bad-now-wait-until-america-goes-bankrupt-in-a-few-years/

[IsailedawayfromFR]

May be sooner rather than later.

And America is already bankrupt as it spends more by printing more paper.

The riots are not what will happen when the US is bankrupt.

It will be the theft by the government of IRAs and 401ks "to protect the solvency of this country".

[XenaLee]

May be sooner rather than later.

And America is already bankrupt as it spends more by printing more paper.

The riots are not what will happen when the US is bankrupt.

It will be the theft by the government of IRAs and 401ks "to protect the solvency of this country".

Yeah, at least with Trump in the WH, I had high hopes that the "China debt" would be written off....offsetting some of that national debt.   Instead... now.... we will be officially "owned" by China.  And China wants us dead (proven by the Covid-19 release).   We're officially screwed now, IOW.

And if you own any gold or precious metals, you'd better find a good hiding place for it.  It will be confiscated by the leftists in control.   Not an if, but a when.

[Fishrrman]

From Matt Bracken:
"Alas, Brave New Babylon"
(pdf file, zipped, author's permission to distribute freely)