(The Center Square) – The federal government spent $1.8 trillion more than it collected in tax revenue in fiscal year 2024, according to figures released Friday by U.S. Treasury Department.
The way the fed lends money to the US we will mathmatecially always have more debt than we have currency. What happens to this system when growth functionally stops since our planet has a finite number of resourcs? We need something better relatively soon or we’re going to chase the dragon off a cliff.
Growth doesn’t matter as long as people still treat the currency like it has value. Most of that debt is owed the the people of the United States, and as long as the US govt continues to pay interest on T bonds and make Social Security payments people will continue to have confidence in the system.
Take a look at Japan as a more advanced example of this, with a larger debt as a percentage of GDP than the US and still maintainjng a sustainable economy despite population shrinkage
The way the fed lends money to the US we will mathmatecially always have more debt than we have currency. What happens to this system when growth functionally stops since our planet has a finite number of resourcs? We need something better relatively soon or we’re going to chase the dragon off a cliff.
Growth doesn’t matter as long as people still treat the currency like it has value. Most of that debt is owed the the people of the United States, and as long as the US govt continues to pay interest on T bonds and make Social Security payments people will continue to have confidence in the system.
Take a look at Japan as a more advanced example of this, with a larger debt as a percentage of GDP than the US and still maintainjng a sustainable economy despite population shrinkage