When, if ever, has concern over the federal debt been a priority?
As the United States continues its struggle with the pandemic-induced economic recession and a sputtering recovery, the country’s burgeoning debt is not anyone’s top concern these days.
Bullshit! The CDC can’t even prove this Coronavirus variant exists. And, can Jay Powell explain why, given the inducement thingy, his cabal was pumping $100 Billion a night into the commercial banks, three months before the first hint of the yet-unidentified virus?
Even deficit hawks are urging a dysfunctional Washington and a chaotic White House to approve another round of badly needed stimulus to the tune of trillions.
Like the virus, these “hawks” have yet to be positively identified.
“The US federal budget is on an unsustainable path, has been for some time,” Federal Reserve Chairman Jerome Powell said this week. But, Powell added, “This is not the time to give priority to those concerns.”
At this point, after so many decades of neglect, the man is correct. This debt, and the other kinds, will never be repaid. Instead, they will be nullified and erased, by someone, sometime. It would be better to do that now, but of course, we still have some hoaxes to play with.