Inflation Reduction Act may be Unconstitutional - Take your Credits ASAP

[HighDesertOffgrid]

Government spending has to be brought under control AND it must be drastically reduced. We're already past the debt tipping point - it's just a matter of time until the financial disaster hits.

Debt/GDP dictates the only way out of this is massive inflation. Make the dollar worth(less) and the debt is sustainable. Why is no one suspicious that there isn't, and has never been, a plan by anyone to pay it back?

 

[B-ManFX4]

To be blunt, I could not afford my house if I was to try to buy it today. The only reason we can afford it is because I bought it when it was worth nearly $100k less only a handful of years ago and because interest was less than half of what it is now.

I understand that. I bought this house in 2010. I paid $245K and I refinanced some years later and locked in a 2.1% loan. My neighbors recently sold their house. Their realtor came over and asked me if I wanted to sell. He told me he could get me $650,000 for the house and he could get it in a week. I said that's nice but where would I go? He also mentioned that 15 year mortgages are hovering around 5.5 - 6%. That's an incredible difference in total cost of the loan and in the monthly payment amount. I really don't see how younger people are making it.

Good for you that you are doing well !!!

 

[B-ManFX4]

Debt/GDP dictates the only way out of this is massive inflation. Make the dollar worth(less) and the debt is sustainable. Why is no one suspicious that there isn't, and has never been, a plan by anyone to pay it back?

Because paying it back would run counter to the real initiative, which has been in place for decades...

 

[MTM98290]

Wait, let me get this straight and tie to back to the original posting...these tax rebates GIVING US MONEY BACK are all about money and control?!?!

Holy shit you guys are geniuses!

It is called incentivizing. Allowing less theft of ones personal wealth is not giving back, it is manipulation of markets with our own money.

 

[12VoltInstalls]

Why is no one suspicious that there isn't, and has never been, a plan by anyone to pay it back?

Ross Perot was strong on it (paying it back).
Ronald Reagan was for paying it off but was soft on that and in fact spent a lot on Star Wars (which did produce a good result)
Bill Clinton was more energetic about not raising the national debt, but also soft on reducing it.
BushJr said nice things but didn’t care in action about the national debt.
Obama was more of Bush, just a different platform, and didn’t oppose “printing money” or borrowing money federally.
Trump seemed unconcerned about debt, although he should have been ideally configured to reduce spending, debt, and economic security.
Biden apparently isn’t concerned one iota. Plus he apparently observed the last three presidents so he thinks government spending at a deficit is perfectly acceptable- which makes no sense.

So it’s not “nobody” - just nobody recently.

I think Ross Perot had a good idea. We should’ve done it. Warren Buffet would have approved- he’s said things along the lines of he’d accept slower growth at Berkshire for a more secure economy for America. In 2008(09?) he even offered to pay taxes early and said other successful businesses would be willing to do the same to help America.

But the officials ’we’ elect don’t seem to care.

Again approaching a 4-year election cycle we are stuck choosing the lesser of two “evils.”
Neither party is offering a palatable choice. I’d be fine with trump again (disappointing to admit that; my eyes are always open) and sincerely hope for some candidates like JFK, Eisenhower, Reagan, or Jefferson get offered up for 2028.

 

[B-ManFX4]

Again approaching a 4-year election cycle we are stuck neither choosing the lesser of two “evils.” Neither party is offering a palatable choice.

This is one of the most disappointing aspects of life in America today. Unreal that a country with over 1/3 of a BILLION in population cannot offer up better candidates than the ones we see, year after year after year...

 

[Tulex]

This is one of the most disappointing aspects of life in America today. Unreal that a country with over 1/3 of a BILLION in population cannot offer up better candidates than the ones we see, year after year after year...

It's a small pool to pick from who can and will rule for the elite. There are so many people who could do a better job, but they aren't what the controllers want. Government simply no longer serves the people.