at what point does the debt become a "Houston, we have a problem" situation? or are we there already?
https://www.washingtonpost.com/busin...interest-rate/
i'd say now would be a good time to rescind Trump's 2017 tax cuts and Bush's 2001 tax cuts. and maybe create commissions for Social Security's and Medicare's long-term issues. the Medicare slot machine payouts are going to kill us unless we get a handle on costs. having a salaried care coordinator for every beneficiary would be a good start to avoid the expensive and idiotic Medicare expenditures that aren't needed and make no sense. and for Sec. Sec., lets dump the 100k cap on collections. would generate a huge surplus.
and high interest rates are a bitch for government debt. there is no workaround for that.
first, we need to admit we have a problem. second, we need to throw out the old playbook and hone in on 2 issues: cutting costs and raising revenues, which means cutting the fat while retaining the muscle, and raising taxes. either we solve our own problems, or the market will do it for us, which won't be pretty.
time for both parties to put politics aside and solve our country's fiscal issues. not talking about government shutdowns and debt ceiling drama, but adults at the kitchen table figuring out how to make the numbers work. will require lots of give and take from both parties.
short term, we're okay. long term? not so much.
