News Will the U.S. Economy Collapse Without Government Debt?

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A potential U.S. government shutdown raises concerns about federal funding for research and other programs. While some believe that existing funds will continue to flow, others argue that agencies may rescind spending authority, halting payments for approved projects. Government workers at federal labs would likely be furloughed, and contractors may also face uncertainty regarding their work and pay, depending on contract terms. Essential services, including social security and Medicare, may not be immediately affected, but non-essential federal employees would be laid off. The discussion highlights frustrations with partisan politics and budget negotiations, emphasizing the need for a more responsible fiscal approach. Concerns about the impact of shutdowns on local economies and federal employees are also noted, alongside debates over the implications for specific programs like Planned Parenthood. Overall, the conversation reflects a mix of anxiety about funding continuity and criticism of the political process surrounding budget approvals.
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JDStupi said:
I think that this gets to the heart of one of our most potentially pressing modern economic issues. The very peculiar modern situation that is characterized by racking up a massive debt being nearly a pre-requisite for economic mobility.

First, our contemporary society is suffering massively from educational-inflation, x amount of years ago you could get a *decent* job without a college degree, and not necessarily have to worry about a glass-ceiling limiting you to a crawl-space.
And no, it is not because "the modern world demands more education", many jobs do not require college education, including newly created-jobs that didn't exist "x amount of years ago".

In order to properly enter the workforce, you nearly MUST put yourself in a situation where you are massively in debt before you can ever begin to get a decent paying job.
This is a problem with the structure of our economy and social situation.

It seems to work fine now, but what if there is a long-term crisis? The very structure of the economy must change, not just "cut government funding to students" that could be disasterous to our advantage in the global market, nor just "fund everything with government". Something has to be thought up, and the problem with politics is political inertia. Nobody wants to radically re-conceptualize the way we conduct our economy and, in turn, its ramifications for social structure.

That should be the first on our list. Not abortion, not drugs, or a slew of other banal crap that gets passed off for politics.

I would love to see that happen. But I know that it won't happen. So in the meantime, I'll build up my massive stock of debt.
 

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