How the stimulus package works.

[Steppenwolfe]

The projected national debt for 2024 took a big jump lately. It is now at $40.3 trillion. Unreal.......:shocked:

Yeah... it will be our demise.

 

[Gator6x4]

Sending a dead person a check is no big deal; it is when those checks get cashed that I scratch my head/get concerned! (LOL)

How dead people receive checks.

Mom or pop dies. They had direct deposit for SS. SS was never notified Mom or Pop had died. The checks keep coming every month. FREE MONEY. "Rep. Thomas Massie, a Republican from Kentucky, said Wednesday a friend texted him to say his father, dead since 2018, had just received his $1,200 in stimulus money." Same thing if Mom or Pop was living with a son or daughter and received his SS Check by mail each month. SS Not notified mom or pop died. The check keeps coming each month, the son or daughter endorses the check and cashes it. FREE MONEY

 

[RickB]

Yeah... it will be our demise.

Sadly. Print money today, kick the can down the road.

 

[BrokenTrack]

How dead people receive checks.

Mom or pop dies. They had direct deposit for SS. SS was never notified Mom or Pop had died. The checks keep coming every month. FREE MONEY. "Rep. Thomas Massie, a Republican from Kentucky, said Wednesday a friend texted him to say his father, dead since 2018, had just received his $1,200 in stimulus money." Same thing if Mom or Pop was living with a son or daughter and received his SS Check by mail each month. SS Not notified mom or pop died. The check keeps coming each month, the son or daughter endorses the check and cashes it. FREE MONEY

I know how it works, but it is still against the law.

My neighbors got caught doing that. It took a few months for the Government to catch up with them, but they did.

 

[BrokenTrack]

That dog wash station is on my list also. It's been six months since his last bath and he smells like it. It's a nice day for a bath today though.

Yeah ours is pretty bad too.

Normally she would have had a date with the groomer to have her annual shearing done (Great Pyrenees), but due to Black Swan, they are not open.

 

[ruffdog]

Sadly. Print money today, kick the can down the road.

At what point does the debt get so high that the country can't pay the interest? Most of us watch our personal budget and we wouldn't get that far in debt. What is the break-even point for the national debt?

 

[fried1765]

Yeah... it will be our demise.

Yes:......and the Chinese will have accomplished their goal of world dominance,...... without firing a shot.

 

[RickB]

At what point does the debt get so high that the country can't pay the interest? Most of us watch our personal budget and we wouldn't get that far in debt. What is the break-even point for the national debt?

I don’t know. Folks who do usually express the debt payment as a percentage of GDP which makes sense. As the ability to service debt increases, so does the point at which there is too much. A shrinking GDP is counterproductive. I have said since 2008 that what is wrong with our economy and society cannot be fixed and I still believe it.
What I have not heard much of is that the oversold stock market and our economy in general was long overdue for a correction. We may well get more of that than we bargained for. All this newly printed money will certainly bring inflation sooner than later. Then the fun will begin.

 

[ruffdog]

Interesting read....I'll have to read it several times as there is lots of info.

The National Debt Explained

 

[shooterdon]

At what point does the debt get so high that the country can't pay the interest? Most of us watch our personal budget and we wouldn't get that far in debt. What is the break-even point for the national debt?

They devalue the dollar and address it that way. If you are invested in annuities, T bills, CD's, etc...you take a hair cut. If interest rates rise, it will be a blood bath. Think about your SS check buying half or less than it will purchase today?