The Fed has raised the debt limit to 11 Trillion dollars. The real amount of debt is probably closer to 110 Trillion dollars when you consider
unfunded liabilities like medicare, social security and future warfare.
I'm wondering if hyper-inflation will take ahold first or will people start crying murder when they start getting thier tax bills?
What happens when people quit paying taxes? Excise taxes,federal fuel taxes,sales taxes? The Government has to find more money.Raise income
taxes,property taxes,inheritance taxes.Soon enough it won't matter if bread is $.25 and milk is $1.00 a gallon.If all you make goes to pay taxes you
can't afford to eat anyway.
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