chad1234@lemmygrad.mlOPtoUS News@lemmygrad.ml•ZH: CBO Director Warns Of Debt Market Meltdown With US Debt Is On "Unprecedented" Trajectory
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8 months agowhat you say is true. However, ignore the bitcoin peddling and the core points of the article are true. In summary, the USA is approaching a debt crisis in which the financial markets will not be able to absorb its debt securities at the rate they are growing. Due to interest rates rising, the debt is growing exponentially.
At that point, there will undoubtedly be severe cuts to welfare system.
Most of the economic theories favoring money printing, such as QE and MMT, say that inflation is the limit to money printing. The time in which the USA could safely print money to make its problems go away is over. Inflation is likely persistent and any large increases in money printing will exacerbate inflation.
The most likely way for the bourgeois government to deal with this impending debt crisis is to cut welfare spending.