Although the facts are pretty much correct there are two things worth mentioning:
First, a state budget is not really working like a household budget. A limit on lending is usually a limit on investment which is a lever to speed up economic growth in a time of economic stagnation. The us is a few years after Biden boosting the post covid economy. Yes printing money is bad but it is exporting inflation to most of the world because they use the dollar. So cutting of capital is a serious step better deliberated throughoutly.
Second, this isa an opinion piece, not the federal government announcing insolvency. This is a long known issue and an opinion piece is usually as seriousa as a well written comment on Lemmy.
Yes printing money is bad but it is exporting inflation to most of the world because they use the dollar.
The problem with this is that Trump has rapidly accelerated the decline of the dollar as the world’s reserve currency. The US has been over printing dollars for decades now because there was always somebody who wanted them for global commerce. As that begins to turn, the returning dollars will exacerbate inflation which will make the dollar even less attractive. It’s a feedback loop that the US is currently in a terrible position to try and manage.
The world really doesn’t need much that the US has to offer, outside of agriculture. The world economy is hooked on US markets because we are such a financial jughaurnaut, but that won’t last forever. People are waking up to the fact that our biggest contribution to the world economy is consumption.
This is a 5% increase on normal balance budget items and as 15% increase on social off book stuff. Then includ me inflation. That a lot of fithly rich fucks skimming an unsustainable amount off future resources.
There is absolutely no excuse for a country as wealthy as America with its global reach to not to be adequately funded.
The cutting never nuders. Sporting our long sleeves. Pressing the blade ever deeper
We are nation of self harm, sliding ever deeper, a chronic crisis we refuse to address with the seriousness it requires.