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Many 401ks are shrinking
(www.nbcnews.com)
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this post was submitted on 05 Apr 2025
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Literally just last week my retired dad was talking about how important it is that the economy contracts and that we cut back so we can pay down the debt.
Now he's freaking out because he's losing tons of money.
Rich boomers are by far the dumbest people on the planet
Surely since he's retired his money is in bonds... surely...
Frustratingly my retired parents lost $20k from their retirement account, but they don't care and still support the tariffs.
“Still love the truck, though.”
Now what? Do they think past success of america was because it wasn't in debt? America's been in debt forever
Well see if we stop spending money somehow that means there's more money. So we have to kill the poor of today so we can save the poor of tomorrow. Or something. I don't know I'm not a dunbass
Debt is literally a useless metric for an imperial global empire like the us. They are the pinkertons that actually bring in the debts of other countries. Like who is going to tell them no?
If the economy contracts, the tax revenue falls more than spending falls so debt goes up. Then the the unemployment benefits, food stamps, and stimulus checks go out and the debt goes up more.
WHO IS THAT DEBT TO?
Get exactly what you want and still cry. Its hard for me to not hate people like this.