Detroit and the $600 Stimulus or is it to be 2K?

[oladub]

Not that many people will get the stimulus checks. Not even homeless folks. SORRY! And the Kentucky Bourbon drinking Senate Majority Leader want to save rich folks money in their fat juicy wallets. There will NO be $2,000 stimulus money that Trumpy Dumpty requested. A $600.00 Happy Meal stimulus money will do.

Rich people won't be paying for the stimulus money. Our children will. Or at least they will be stuck paying the interest. As China soars ahead, our children will be tethered to this ball and chain of new debt.

There are three ways of paying for debt. Tax more, cut government spending, or print money making each dollar worth less. Both parties are afraid to tax more or cut spending. That leaves option number three. Welcome to $10/loaf bread. Welcome to national decline. Every $1T added to the national debt creates over $12,000 of federal debt and its interest for the average American family of four. The historical average of Treasury yield rates, what the government must pay to service its debt is 4.39%. Should the Treasury yield rate return to its average, that average family of four will be paying $53 of interest on each $1T of federal debt every year. The U.S. already has $27.5T of national debt. [[$53x27.5=$1,457.50). That average family could have probably bought something nice with that instead of the interest on Bush, Obama, and Trump's debt every year.