It’s amazing that the powerful have convinced people that the debt and government programs are bad yet taxes that target the actual wealth and would bring in money to reduce the debt are also bad. All the money that would reduce the debt is hoarded by billionaires and corporations, then people fear monger on things like taxing unrealized gains. It’s over 200 millions dollars. It’s going to affect a tiny number of people. It’s almost like the powerful don’t won’t their money going to helping people via taxes and they control most of the media and politicians.
We are adding historic amounts to our national debt. Roughly $8.5 billion per day at this point.
The consequences? Unsure. Hyperinflation, stagflation, dollar collapse are all possibilities. BRICS could become more widely accepted as well, which would be disastrous for the petrodollar.
Except the government is real and we pay it to do things for us and help us. But our government is one that does a lot less for its people than other governments, even though we are the richest.