If you intend on a financial reset, what does it all matter in the short term?
The system was so far gone that it’s impossible we would have ever been able to pay it back. Every man, woman, child and illegal immigrant in the US would have to pony up $85,000 just to pay it off. I see people frustrated that they are raising the ceiling again but the fact is, the system was already terminal, we can speed up its death or extend it.
Raising the debt ceiling is like borrowing more money to meet the interest payments on your credit card debt. It bites its own tail.
If you intend on a financial reset, what does it all matter in the short term?
The system was so far gone that it’s impossible we would have ever been able to pay it back. Every man, woman, child and illegal immigrant in the US would have to pony up $85,000 just to pay it off. I see people frustrated that they are raising the ceiling again but the fact is, the system was already terminal, we can speed up its death or extend it.
It's around 500k for all liabilities, not 85k.