OT: 50 year mortgages?

[purplefaithful]

We agree on one thing, trying to better the lives of our future generations...This is going to make it that much harder at a macro level:

[badgervike]

We agree on one thing, trying to better the lives of our future generations...This is going to make it that much harder at a macro level:

We only agree on one thing PF?  lol.

There isn't a chance in hell we solve the debt crisis with the division in this Country.  You try to cut anything and you're killing babies, or seniors, or puppies.  Look at the angst over DOGE.  There's no bipartisanship anymore where bills of importance are passed on a truly bipartisan majority...and certainly not spending bills.  A bipartisan bill these days is 8 Senators from one party.  The US debt jumped way up during Covid and didn't come back to its pre-Covid levels...it was artificially inflated to the Covid levels with spending bills.

[mblack]

Now there is wait for it…. 15 year car loan to go with your 50 year home loan.

[medaille]

We only agree on one thing PF?  lol.

There isn't a chance in hell we solve the debt crisis with the division in this Country.  You try to cut anything and you're killing babies, or seniors, or puppies.  Look at the angst over DOGE.  There's no bipartisanship anymore where bills of importance are passed on a truly bipartisan majority...and certainly not spending bills.  A bipartisan bill these days is 8 Senators from one party.  The US debt jumped way up during Covid and didn't come back to its pre-Covid levels...it was artificially inflated to the Covid levels with spending bills.

You can't solve the debt crisis because there's not enough money to pay off the debt.  If you were to try and pay off all the debt, what would happen is that you would eliminate all the money that is in circulation, and you would still owe massive amounts more money.  This lack of money in existence would mean no one would have money to buy anything, your work wouldn't have money to pay you, and everyone would have to go into more debt to create the money.  This is what life inside a fractional reserve banking system is like.  

The only way to actually pay off the debt is to create money outside of debt (aka the trillion dollar coin)