What's the plan for places like Highland Park, MI when the debt bomb goes off? We owe more than $16T. At some point, monetizing the debt will no longer work and there's going to be a fiscal day of reckoning like no other for the US. Cataclysmic budget cuts will happen, either through actual cutting or inflation. The residents of Highland Park get a large percentage of their income from the government and they currently live in crime, poverty and social decay.
What are you going to do when their benefits are slashed? More to the point, what are they going to do?
|Enjoy the parades while you can.|