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SLCW 10mo ago 💬 17

Trump is slapping the low and middle class with $4.5 trillion in debt to pay for more tax cuts for the wealthiest 2% of the population. That's in addition to the $8 trillion he added to the national debt last time he was in office.

He's gutting the government, and talking about how we have to live with austerity, while he's essentially pumping all that money into the hands of the people who need it least. And why not? He's not going to be around to have to pay it back. That burden falls on our children, and grandchildren, and great grandchildren.

This is ultimately what the Trump presidency is all about. Massive theft from the American people, and generations of our families.

https://www.newsweek.com/republicans-reveal-trump-tax-plan-will-cost-us-45-trillion-2030024

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HoloKat 10mo ago

Don’t forget the 2 trillion cut in mandatory spending.

But hey, USAID!! 🤦‍♂️

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A.A.Ron 10mo ago

No one is ever paying back the national debt.

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Akashi Hyogo 10mo ago

This guy gtes it.

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SLCW 10mo ago

Payments on the national debt are made everyday. Whether we ever pay it off is totally different issue. But the fact is, the higher the debt, the higher our payments. And that's money we all pay

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Akashi Hyogo 10mo ago

I am not shure you can count "paying out old debt and interest with more new debt" as "payments on national debt are made"

They are technically being made, but not really. (This is the theme thoughout the whole fiat money system it seems)

https://fred.stlouisfed.org/series/GFDEBTN

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Control-Plane Capital 10mo ago

Trump is an actor, just like Biden was an actor, Obama, Bush, Clinton, and all of the rest.

You can whine about it or buy Bitcoin and prepare for the reset.

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SLCW 10mo ago

Yeah that doesn't have anything to do with the reality of math. Maybe it's of no concern to you, but definitely don't speak for everyone. Ignore literally everything and just buy bitcoin is a shallow, obtuse philosophy that conveniently absolves you of any need to understand or care about the consequences of what's happening. But you do you.

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Control-Plane Capital 10mo ago

The math is that nobody intends to repay the real debt and you still haven't got the memo. But you do you.

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SLCW 10mo ago

We pay the debt every day of the year. It's not like a delinquent credit card bill that's just sitting on the the kitchen table. We make payments on it every day. And the higher the debt, the higher the payment. That's me, you, your children, my children, their children, and their children who will be making payments in perpetuity. I got the memo. And it says you don't know jack shit about macroeconomics, or the logistics of how nation's manage debt.

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Akashi Hyogo 10mo ago

Wow, this fiat system leaves endless possibilities for interpretations ..

What are we going to argue about when Bitcoin finally takes over?

I am not in US and was getting worried. Due to eurodollar global monetary system "USD up" means we all go bancrupt. Tarifs means USD up + US spending cuts means USD up even more.

+ USD up means US trade deficit goes up - opposite of what Trump claims to want.

On the other hand - huge deficit means not smaller government just "bad" byrocrats exchanged for "good" byrocrats ...

So you should be OK with that no? Means government is not going to be "dismantled", it is mostly a theater.

Or maybe they are going to use deficit to massively build infrastructure .. Like china. But big gov projects need big gov ..

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Akashi Hyogo 10mo ago

+ USD up would mean more capital flight from EU to US, which would nudge EU to capital controls that would be start of full out communism (or fascism, because big corps and banks would stay private probably)

a6
unknown 10mo ago

Woo Hoo. Money printer go brrrrrr 🥳

ea
ea7f3d35... 10mo ago

Robber Barons be robbin'

Why did nobody warn us.