‘Bidenomics’ fiscal shock: Managing America’s staggering debt

 The debate over a debt limit deal now raging in Congress offers the last possible exit ramp for future American prosperity.

In the long run, the U.S. government will devote more and more of its tax revenue just to service the Bidenomics debt.

Absent significant cutbacks in future spending now, the U.S. government has two ways to address its growing debt problem.

The U.S. Treasury, in cooperation with the Federal Reserve, can simply print new money to pay off the debt.

With the help of strategists like Steve Bannon and Russ Vought, former director of the Office of Management and Budget, these fiscal responsibility hawks have had the courage and vision to fight for significant spending cuts as part of any deal to raise the debt limit.

Your hands are dirty, and the only way to get them clean is through a debt ceiling deal that trims down to manageable levels the future spending that you helped bake into the Bidenomics budget.

Kevin, here's the buried lead: The fiscal apocalypse we are facing is no run-of-the-mill, banana republic, Argentina-style meltdown easily resolved by an international default on U.S. debt and a simple debt restructuring. 

https://www.washingtontimes.com/news/2023/sep/26/bidenomics-fiscal-shock-managing-americas-staggeri/