Replies to post #11754 on General Stock Ideas

[gfp927z]

SC, >> debt ceiling <<


The Tea Party wing can make a show of being against it, but not raising the debt ceiling is not an option for the US. They could do a partial shutdown of some government departments for a while, but eventually it would mean a US default on its financial obligations.

Looking at Trump's proposed budget, they're trying to chisel out relatively piddly amounts from social programs and so-called discretionary spending, but the big areas of government spending are - 1) Interest on the national debt, 2) Social Security and Medicare, and 3) Defense spending.

Without the privately owned Federal Reserve system, there would be no interest on the debt since the US Government has the power to issue its own currency without interest. After 100 years of being saddled with the Fed, which is a privately owned banking cartel, the US debt now represents over 100% of the US GDP. So basically the US has a huge tapeworm that has grown bigger than the host.