Originally Posted by ChuteTheMall
It's been going on for nearly half a century so far.
Having experienced high inflation, I absolutely prefer lower inflation, although I've done well enough under both. YMMV.
Disaster delayed is, um, disaster postponed? Prevented?
72 years to be exact. The debt has increased every decade since 1940. The ramp up really started in the 70's. The problem is what used to take a decade to add to the debt now takes 6 months. The public debt and entitlement programs are just like credit cards: you can max a card in a month and take 5 years to pay it off.
During inflation, deflation, stagnation...anything one thing has stayed current: the fed spends more money, runs up more debt and is simply running out of "wiggle room." Politicans on both sides of the aisle haven't been responsible mangers of this country for decades.
Every disaster has a starting point - the gravy train will end at some point.
I can run simple mortgage like numbers and show if 1) the budget was balanced tomorrow 2) taxes increased 3) interest rates on all public debt were reduced to 0% 4) entitlement programs were frozen we could dig ourselves out in about 50 years. Now enter reality.
What took 50 years to charge up could take hundreds of years to pay off. Our Republic won't last this long.