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The larger issue for the US is the debt ratio between the interest paid vs the actual tax dollars collected.
The US is paying about $3.5 trillion in interest on the debt and only collecting $4.5 trillion in taxes...
The yearly budget is about $6.5 trillion. So every year we are adding $5 trillion a year to the debt.
At some point soon, the tax collected will equal the interest paid.
You cannot keep kicking this can down the road... you can keep printing money and raising inflation or you start cutting the budget. Either way, its not good in the short term for the economy.
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