A deficit that’s topped $1 trillion and sovereign debt that just hit the $23 trillion mark… Runaway corporate and student debt… Grossly underfunded state pensions… These are concerns that should be top-of-mind for the mainstream press and, more importantly, for the career politicians who make decisions on our behalf.
The thing is, they’re not making decisions – heck, they’re not even discussing these problems.
We’ve come to a point where tackling debts and deficits is a political dead issue.
class=”highlight”>That’s amazing in a time when every conceivable issue is being weaponized against the opposing party – but not this issue, as both sides are afraid to touch it now.
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You’d think the Republicans would be all over this one since the Democratic presidential candidates are engaged in a heated game of one-upmanship to see who can spend more of your tax dollars. If the Dems had their way, Modern Monetary Theory would be written into the Constitution and debt spending would keep entitlement programs running in perpetuity.
Democrats could also use the national debt as a talking point since the numbers do show an increase in the debt since Trump took office (though you could also say the same thing about Obama, but talking points are designed to filter out countervailing facts). So again, you’d think they’d be all over this one, at least until November of 2020.
Even so, the debt and deficit hawks have gone silent – or to put it more accurately, they’ve been silenced by their own respective parties. The fact is, all parties are guilty of debt and deficit spending and they’ll all continue the policy of profligacy so long as it garners votes.
Since America has allowed its politicians to promise the world and deliver none of it with impunity, policymakers have no personal interest in discussing debt slavery, be it on a national level or as individuals. If anything, they’d rather we be indebted and controllable, as this allows them to govern without accountability.
They’ll just have to hope that inflation doesn’t get out of control and America’s creditors don’t call in their debts all at once. Until then, policymakers are giving us the silent treatment – they’re staying silent on what is, in actuality, our biggest problem of all.
The default through inflation that is happening in real-time will perhaps have the biggest impact on any of our lives, and almost no one is talking about it in the mainstream press or financial space.
James Davis
FutureMoneyTrends.com
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