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The Collapse of the American Empire, page-1107

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sharps2r800

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22/09/21

10:52

Post #: 56259113
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Originally posted by moorookamick: ↑

Republicans holding out on raising US debt ceiling :

https://www.theguardian.com/us-news/2021/sep/19/government-shutdown-fears-debt-ceiling-talks-latest-democrats-republicans

If the ceiling of $28 trillion has been hit already then they'll have to lift the ceiling to at least
$35 trillion in order to accommodate Biden's spending splurge, IMO.

Given the Republican/Democrats hostilities at present, it will be interesting to see
how it all pans out. Biden programs are close to an extra $4 trillion financed by debt
which , when implemented, will take US sovereign debt to almost $33 Trillion or
well over 150% of GDP

https://www.usdebtclock.org/cbo-omb-gop-budget-estimates.html

At the current US rate of spending (budget deficits,) US debt would
balloon to $48 Trillion by 2025 or a ridiculous 177% of GDP.

In the interim, the US is facing an impossible choice: deficit spending
(more debt) or recession, IMO.

Its quite ironic that the Billionaires are having a hayday while the
country is going down the tube! Who does the Government represent;
the billionaires who are pocketing the lollies now or the general taxpayer
who will have to foot the bill later?

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"Who does the Government represent;
the billionaires who are pocketing the lollies now or the general taxpayer
who will have to foot the bill later?"

Every single capitalist government and capitalist party in the world including the ones with "labor" or "social democratic" or "socialist" or "liberal" or "Democrat" in there name, represent the billionaires over the general taxpayer.
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