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Federal Reserve’s Jerome Powell “Very Worried” About Massive U.S. Debt
submitted 1 year ago by dcjogger from nz.finance.yahoo.com
[–]Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 1 year ago (0 children)
[–]dcjogger[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 1 year ago (0 children)
Maybe the debt will be paid off by illegal immigrants, technology, a zero percent tax rate, or magic fairy dust, but the reality is that the US debt is increasing constantly, no one cares, and spending more money to reduce the debt will only lead to disaster.
Debt didn’t work out too well for Rome, Germany, Japan, Greece, or Zimbabwe.
Those who fail to learn from history are doomed to repeat it.