Not to be pessimistic
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But it hard not to be when it comes to economic issues these days.
Link to video -
The middle class are causing the problem with programs they paid for with dedicated taxes along with the poor and what they cost others? It isn't the trillion $ defense budget (war budget now I guess) increased by 1/2 trillion overnight? It isn't the endless wars? It isn't the endless corruption? It isn't the fact oligarchs and corporations pay no taxes?
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Nifty chart that shows where the money goes. And were it comes from.
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The middle class are causing the problem with programs they paid for with dedicated taxes along with the poor and what they cost others? It isn't the trillion $ defense budget (war budget now I guess) increased by 1/2 trillion overnight? It isn't the endless wars? It isn't the endless corruption? It isn't the fact oligarchs and corporations pay no taxes?
The middle class are causing the problem with programs they paid for with dedicated taxes along with the poor and what they cost others?
How do you derive this from the video? He is stating that middle-class "security" is very vulnerable at the moment, that financial instability is inherent in our system, that a major collapse could occur very soon and it will be very uncomfortable for a lot of people.
I hope a few things. One, that Democrats take over the House and Senate this fall and the presidency in '28. That they impeach the mother fucker, start holding those who broke the law accountable, start writing solid, strong regulation of the financial and business sectors, and at the very least, take the essentials of life out of privatization and into non profits. It's the only way capitalism will manage to live on in a way that is healthy for all of society.
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The middle class are causing the problem with programs they paid for with dedicated taxes along with the poor and what they cost others? It isn't the trillion $ defense budget (war budget now I guess) increased by 1/2 trillion overnight? It isn't the endless wars? It isn't the endless corruption? It isn't the fact oligarchs and corporations pay no taxes?
The middle class are causing the problem with programs they paid for with dedicated taxes along with the poor and what they cost others? It isn't the trillion $ defense budget (war budget now I guess) increased by 1/2 trillion overnight? It isn't the endless wars? It isn't the endless corruption? It isn't the fact oligarchs and corporations pay no taxes?
I suppose you’re addressing that to me?
The debt is a distillation of all spending minus taxation. It’s worth mentioning because it has reached escape velocity and is growing faster than GDP and there are zero proposals being discussed that will change that.
As for the unfunded liabilities, they are worth singling out because, as you suggest, we are morally and politically obligated to make good on them but, unlike the debt, we can’t inflate those liabilities away. The amount we owe will automatically increase with the coming inflation. So in that sense it’s a categorically different situation than just the existing debt.
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Well, @bernard the great discomfort is here and it will get worse, imo.
Have you heard the saying that most Americans couldn't come up with $400 cash in an emergency?
This must be an approximation but I don't think anything other than that the middle class has been being destroyed for four decades and parts of two others in addition.
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Well, is there a part of your take on this where you take into account the trillions and trillions of dollars of debt being created to fight wars of choice (and it should be spending for the national defense according to the Constitution but moving on...)?
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