I don't believe that 'the money has to come from someplace' is accurate. Our problem isn't generating enough income. The problem is that our government spends too much.

Our ruling class has absolutely NO intention of paying down the national debt. It's our great, great grandchildren that aren't even born yet that will pay the price for this country's reckless fiscal policies.

What I find ironic is that our push for 'green energy' is probably worse on our environment and our nation that fossil fuel production. An abundance of rare earth metals are needed for solar and wind energy production. Open pit mining is needed which ravages the land and, yes, takes huge amount of fossil fuels to perform. Most rare earth minerals needed come from China making us further dependent on that country.

Mr.detroit
 

Do you really think for one second that employers of minimum wage employees are not already raising prices to off set increase?

Not so. USA is a major player in setting gas prices since we're self sufficient - when fracking goes, we'll again become dependent on others...

I believe the price of gas will double within 3 years. The real key is to watch how much US production declines. Demand will increase as the world’s population is vaccinated. If OPEC is smart they won’t increase production and will profit from the increase in demand. The new administration will be fine with this as it will fit their narrative. People of means will buy electric cars with a substantial tax credit. The less fortunate will have an ever increasing percentage of their income go to energy.

I totally agree with you but the 3.3 trillion is already spent and the money to pay that off still needs to come from someplace.

I do not have the answers but, one of the cries during the American Revolution was no taxation without representation. With the national debt, we are taxing people not old enough to vote and people not even born yet.

We, all of us are hooked on spending money we don't have-the national debt. I have a pile of German Reichmarks that belonged to my grandparents. A lesson either not learned or perhaps forgotten. Even the german government will not honor them in anyway. They are interesting. A nice printing job. I'm not selling mine but you can buy tons of them on ebay.
Perhaps we should all frame one and hang it on your wall as a reminder.

As today, it was not just Germany. I also have an Italian printed bill that says due to current financial issues this bill is poorly printed. When, things are straightened out we will exchange it. Hum, I do not know if Italy will honor that promise either.

It cannot happen here? People in Germany and Italy thought the same. What to do?
BEATS ME.

I will have the number one combo with coke to drink. That will be $21.50. Please pull around.

What is going to happen when electricity is our only source of power and it goes down? Also batteries are toxic waste, what are we going to do about that and lithium batteries are known fire hazards. We just had a fire in our neighborhood from a lithium battery that was charging in the garage. There are pros and cons to everything.

I am not arguing the pros and cons of batteries. I am only suggesting what may happen. Feel free to start a new thread. By the way, nearly every portable device, including 100% of cellphones, has a lithium-ion battery and very few are bursting into flames.

You're right I should not have used you as an example. The point I was trying to make was that everyone is so concerned about the cost of gas but no one is considering the cost of alternate energy sources. One way or another it is going to cost us all.

SUV's, that typically have poor millage, will be for sale like crazy because people won't want to pay the increased gas prices.

I agree with the above, but would add that it will also put a disproportionate burden on people who choose to live in rural areas. One of the primary ways they try to reduce carbon is to tax the hell out of energy and use the proceeds on public transit. People living in rural areas depend greatly on their automobiles as a way of life and Public transit simply is not an option. Furthermore, many rural folks need to drive gas guzzling four wheel drive vehicles to safely navigate the associated terrain. Hugh carbon taxes on energy is a form of forced urbanization.

It will also be a tipping point where many repetitive tasks will be turned over to robots. Robots will be flipping your burgers. They never show up late, call in sick, talk back to the boss, require benefits, and don’t take bathroom breaks or have to wear a mask.

You are correct, alternate energy sources cost more than fossil fuels. The less fortunate, however, will wind up spending a greater percentage of their income on energy.

Very good post, until the last few years the Federal Reserve had a longstanding monetary policy that they attempted to set interest rates so that savers earned a real rate of return above the rate of inflation. Our nation was not addicted to debt anywhere near how it currently is. That has all changed, individuals, corporations, and our nation are all up to their eyeballs in debt, savings are at all time lows, and interest rates are near zero. We are in an unsustainable bubble that keeps growing, and the longer we let it grow, without making some hard choices, the worse it will be when it bursts. Our children and grandchildren are not going to have it nearly as good as we enjoyed. Our national debt is currently at about 100% of GDP and growing exponentially as we enter indebtedness levels of countries like Greece and Italy, not good : (