US National Debt Crisis Simplified! :)
U.S. Tax revenue: $4,690,000,000,000
Federal budget: $6,660,000,000,000
New debt: $2,000,000,000,000
National debt: $37,500,000,000,000
Now just remove 8 zeros and pretend it is a household budget:
Annual family income: $46,900
Money the family spent: $66,600
New debt on the credit card: $20,000
Outstanding balance on the credit card: $375,000
The #Bitcoin answer and solution :
1.Controlled and limited money: #Bitcoin has a cap (21 million coins). Unlike the dollar, the government can’t just print more to cover budget deficits, so debt and inflation can’t spiral out of control so easily.
2.Solution for the “American family”:
•Spend less than you earn: Reduce expenses to match income.
•Use real, limited-value assets: Instead of printing money, invest in scarce assets like #Bitcoin.
•Financial transparency: #Bitcoin is transparent and trackable, making government spending and money supply clearer.
3.Big picture:
If the U.S. or any country used a limited and transparent monetary system like #Bitcoin, it couldn’t endlessly pile up debt. People would better understand how much real money exists and how it’s spent.
Here's a theory, not sure it's possible but maybe someone can tell me why it's not.
Basically it's what the Russians were saying in that press conference not too long ago.
To get a handle on US debt and inflation, the stablecoin regulators will slowly depeg all USD stablecoins, increasing their worth in USD by small increments, like $.0000001, now possible with a completely digital ledger.
Over a period of time, 1 USD stablecoin could be worth up to $2 USD or more, effectively cutting the debt in half, if creditors are willing to accept stablecoins instead of USD.
At some point, with mainstream adoption, the USD will fade away and there will only be stablecoins.
In essence they are copying btc. Instead of creating more money to support economic growth, they are dividing what has already been created.
The last ones to adopt stablecoins would be the biggest losers though.
Is something like this feasible?
Of course just buying btc now, you would bypass this whole transition.
We need an X to NOSTR cross poster tool 😂
I believe nostr:nprofile1qqsgmjrgsgqtg3lv9eqp36j7gtw96jqfgr9n7xw23ump62qhnhzt5hspp4mhxue69uhkummn9ekx7mqpzpmhxue69uhkummnw3ezumrpdejq9y0tuz built one.
It’s at https://yall.pleb.one , you need to setup your x developer account though
I’ve always wanted to be a developer!
Does that mean I can delete the algorithm? 😂
Imagine you earn $100,000 yearly, you are in debt (mortgage, cars, credit cards) $700,000 and you are actively spending $150,000 a year ($50,000 on credit cards). That is the state of the US. No bank will lend you the additional 50k - But…. What if you own the bank?
One more thing, the only asset you own is a house worth $150,000: https://fiscal.treasury.gov/reports-statements/financial-report/balance-sheets.html
Nothing stops this train! 😂 😅
Haha nailed it 🫣
