Quote:
Originally Posted by Paper1
I believe national debt has everything to do with Market. If the country was forced to balance it's budget in 2021 and Fed stopped printing money and buying debt I believe the market would tank, no crash. Our entire economy is now dependent on deficit spending, to say that is not propping up market is not logical. Our generation will never see bank CDs pay 4% again. IMHO
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My comment was about the national debt reaching a "record". The debt reaches a record high every day, and the economy has been dependent on deficit spending almost every fiscal year for the last 100 years. Yes, deficit spending does prop up the market, but that is nothing new. I would love to see the country balance the budget, but the budget is controlled by Congress, who are elected by the voters. And, most voters have no interest in a balanced budget. The chance for a balanced budget in 2021 is about zero.