Is the USA going to end up being the world's piggy bank?

[exitseven]

President Biden gave a speech last night. He wants the US to support Israel but also wants to continue to finance the war in Ukraine as well. He spoke for about 20 minutes and mentioned that we will support Israel for now and for the future. He did not mention a dollar amount. I think he wants a blank check. Should the US really be borrowing money to fund these endless wars? Should congress put the brakes on? Should we instead spend the money to secure our own border?

Updates

6 mo

I just heard that the magic number is $105 billion. It sounded to me like this is a down payment.

Updates

6 mo

He wants it fund Israel, Ukraine and Gaza. He expects Israel to fight with no casualties. How do you fight a war like that?

[lightbulb27]

Ron Paul has been banging that drum for quite some time. No, because we will be broke eventually...

We've been that way for a while and it's crushing us. It isn't just Joe only, we are the worlds superpower and reserve currency... for now, and we are losing it.

I love how they throw out numbers without any clear end goal or objective. 100$ million buys what? $500 billion in Ukraine achieves what? D Rumsfeld said the Iraq war would be around a few billion or something... it was 1-2trillions. We've spent 20 trillion on wars over the last decades or two. We just blew through 32 trillion onto 33 trillion... and I'd question if that's actually correct...

Yes... but it isn't a piggy bank... as if there are "savings" in it, an empty bank. Borrow what and from whom? We are simply confiscating from our future by way of inflation. We aren't producing anything more, not that much.

Your "Social Security" and mine... what it buys, just declined... again. We are getting poorer. The poor know that as they end up in the streets. How they achieve that is is a mechanical question...

Theft! Waste!

[YesterdaysChild]

And the thing is, we the people, have no say about how our money gets spent. The people we elect to represent us are only representing their own interests, not ours. Our government has turned Robin Hood - taking our tax money and giving it to everyone but ourselves. What have we put into infrastructure to fix crumbling bridges and overpasses? When will they start robbing Social Security funds again? That is not their money, it is OURS! What is this going to end? I'm thinking it will not end well.

[lightbulb27]

Yes can already see with so many older people that struggle to survive… their savings inflated away… only gets worse…

[YesterdaysChild]

If everyone in the US paid $1500 a month, it would take 21 years to pay off the National Debt - Make that 22 years, wait, 23, no, 24... It goes up every minute that Congress is in session finding new ways to spend the taxpayer's money.

[OlderAndWiser]

It is easy - and appealing - to say that we should spend our money repairing problems at home. But it is also shortsighted to think that we can ignore what happens in the rest of the world as if it won't have any consequences for us. How would our life change if Hamas/Iran were victorious and annihilated Israel? Do you think Israel is so strong that it couldn't happen?

On the other hand, funding both sides of a war is stupid and such a tactic has only one purpose: pandering to voters at home. Biden is shamelessly doing that and the MSM seem to give him a free pass on his election tactics.

[exitseven]

Why not sell arms to Iran and Israel? These countries have been at war for 3000 years. It is what they want and will do it anyway. The US should be the ones profiting from it.

[msc545]

@OlderAndWiser If Hamas were to defeat Israel, we would just have a new customer for our weapons manufacturers to sell their wares to. I doubt that either Hamas or Iran would invade the US.

[DubiousIntentions]

Israel will not be annihilated or else they wouldn't be the subject of the Last Days as it is in Revelation. They will still be around when a 10 nation confederacy tries to destroy Israel. Except the tables will be turned on the attackers, just as it was every time someone attacked them.

[msc545]

It's just another country and not a very nice one.

[jshm2]

@DubiousIntentions That shit is bunk, and you know it. The "Israel" of today has no link to the old.

[DubiousIntentions]

@jshm2 Sure it does. Israel is around in the End Times and the War of Armageddon is centered around it. Of all the countries on Earth, the Bible talks about a little country like Israel, home of the Jews. As nations go, it is tiny. And yet it kicks larger countries, like Egypt and Syria's asses.

[msc545]

@DubiousIntentions the war of Armageddon and the rest of that garbage it's nothing but a fairy tale. The only reason that Israel has defeated other countries is because it has the support of the United States arms makers and it has enough money to buy arms because the United States subsidizes it. All the biblical stuff you rely on is simply garbage.

[DubiousIntentions]

@msc545 Is that so? Then why are Biblical prophesies coming true? Here is another one for you. Israel will rebuild the temple on Temple Mount, which is now the home of a mosque. Both can't be there so we'll have to see how that plays out. This is also prophesized to be true in the end times.
2 Timothy 3
3 You can be certain that in the last days there will be some very hard times. 2 People will love only themselves and money. They will be proud, stuck-up, rude, and disobedient to their parents. They will also be ungrateful, godless, 3 heartless, and hateful. Their words will be cruel, and they will have no self-control or pity. These people will hate everything good. 4 They will be sneaky, reckless, and puffed up with pride. Instead of loving God, they will love pleasure. 5 Even though they will make a show of being religious, their religion won't be real. Don't have anything to do with such people.

[msc545]

Sure, you can always find things that match up if you look hard enough. All of this is bullshit

[OlderAndWiser]

Thanks for MHO!

[Curmudgeon]

@OlderAndWiser I get what you are saying, but there is such a situation as just being overwhelmed and overextended, with too many foreign commitments.

[OlderAndWiser]

@Curmudgeon Yes, it is always a balancing act.

[DubiousIntentions]

@msc545 I'm beginning to think yours are as well, so we're even. 🤔😐😅🤣😂

[DubiousIntentions]

But let me point out that just about every civilization have had beliefs in a higher power. That is billions of people alive today. They all can't be wrong. But as Blood, Sweat, and Tears said, You won't know by living, only your dying will tell.
https://youtu.be/iLXA7s55dl4?si=i8JAs6RlEW6IPwte

[Curmudgeon]

@DubiousIntentions I'm impressed somebody your age or younger knows that song! 😊

[DubiousIntentions]

@Curmudgeon Don't be, it's just music. They don't play those old songs except on SiriusXM Radio. They have every Genre you want to listen to.

[Curmudgeon]

@DubiousIntentions I know, it's just great to see someone linking it.

[exitseven]

@DubiousIntentions Wow, I have that record album. I have not listened to it in years.
https://www.youtube.com/watch?v=DPQ_GdtrgyQ

[madhatters4]

world's piggy bank? no

but what happened last night is no different than what we've been doing since the end of WWII. EVERY SINGLE PRESIDENT HAS DONE THIS. nothing is different today then it was yesterday, ten years ago, 20, 30, 50.

until we stop the military industrial complex, which would potentially be ruinous we will continue to act in this manner. blame Harry S. Truman. When he became the first wall street president, the oval office ceased being a government for the people and became a government for the banks

[msc545]

Everybody does does it? It's not a defense to anything. It's still wrong.

[madhatters4]

@msc545 it doesn't matter if it's right or wrong. we sit around and blame a president for doing the same thing the last president did and the president before him and the president 30 years before. it's not up to a single man to change this tact. it would require a fundamental shift in the American economy.
is it wrong? a portion of the world hates, a larger portion of the world relies on it. is it wrong? a portion of america hates it but ALL of america relies on it.

i agree that we should not be the world police. but to simply say we need to stop it's wrong is elementary. restructuring america in a way where if we aren't the world's police our economy doesn't collapse is the Phd level discussion we have to have

[msc545]

Our economy would collapse if war industries made less money?

[madhatters4]

@msc545 how many people are employed by boeing, lockheed, northrup, etc etc? how many military personnel would suddenly be rendered unnecessary? and consider the trickle down from that. it's not a vaccuum. 3/4 of a trillion dollars go into military and defense spending per year. the total economic impact of our military industrial complex is in the trillions. so let's say tomorrow we change direction

where do you make up all that up the next day? where do all those people go for work?

i agree the military industrial complex needs to end. but that's the intro course. how you unravel it all and spin it into something else that provides GDP, jobs, tax revenue, wages, etc, etc are much more difficult to address

[normalice]

For one thing you put money in a piggy bank, not take it out. For another, the president does not control the budget, congress does. My guess is Biden only made these requests to remind everyone that the house doesn't have a speaker, because republicans are 100% focused on media engagement instead of representation. For another thing border funding is also in the proposed bill. For ano...

You know what nevermind. These basic facts are widely available to you. Your only excuse for not knowing them is because right wing media bubble you are in doesn't want you to know. But really, you don't want to know, yourself. You're fine with lying and feigning ignorance as long as it makes Biden look bad, because all you people have is nagging, division, and hostility - no solutions or responsibilies. That's why you're people are 100% focused on media engagement - for nagging, division, and hostility instead of taking on the responsibilities for the job they nagged, divided, and raged so much to get.

[jshm2]

The USA isn't supporting shit, it's profiting from it.

The money and weapons being given to the occupying state of Israel, and the wannabe state in Europe, Ukraine; is accruing millions in interest. Both will be paying that money for generations.

There are no "free wars" everyone pays with blood, money and their future. You are paying with your future. You need Israel and Ukraine to "succeed" so that the interest from those wars pays your pension.

Capitalism and democracy rely on conflict and wars to fund them long term. It's why they are terrible systems.

[Static_In_The_Attic]

If truth be told we have always been the world’s piggy bank & the worlds police force as well. Our piggy banks isn’t filled with money it’s filled with IOU’s & our debt ceiling keeps going up along with our taxes. Veterans, military & citizens are losing their houses left & right become homeless meanwhile non-citizens are walking in getting free housing, free food & medical, education & so much more.

[NaultD]

That's how we as usa collor nations. Isolationist is definitely a death sentence to usa from here on out. We have to follow through with democracy for the world or be the first to die. As Above, So Below Dante's inferno style.

It is working for with china That wants Taiwan but china needs our money and trade.

Russia is the largest duck out of usa influence and why we support Ukraine now more then anything else.

Once putin and Russia become irrelevant we can make moral arguments against china with amount of trade will become relevant.

[RealMarek]

Long-term treasury bonds are down over 50%. These are the “safe” assets the banks use to stay solvent. Wouldn’t be surprised to see yields pull back temporarily but the problem will be that we can’t have low yields and low inflation anymore due to dedollarization. The USG can try to bankroll the world but will soon find out its bonds and dollars won’t go far in the global economy. Soon, no more multiple carrier groups and military largesse without taxing the hell out of US citizens to pay for it.

[Constatine]

I understand why he wants to do this... But America has one of the { or the biggest} negative cash number. How can you support an other country if you have no money to support your own...

Other countries also want to support but I. M. O. You only extent the on going war...

[Curmudgeon]

Sadly, it has been for decades. And the USA is going broke and can no longer afford it. Some, like "the Bush dynasty" or Presidential Administrations, thought this was great and would lead to a "Pax Americana", but the reality is that the USA is just plan overextended and going broke. Better to retrench, re-focus, and handle a few foreign policy commitments, done well, instead of multitudes of them, done half-assed.

[Sparkie460]

The US isn't the piggy bank, US American citizens are the piggy bank. They raise our taxes and fine us tax payers just to send the money overseas. If we stop financing other nations and keep our money here , it could help end poverty.
What country helps fund the united states? Nobody

[AviatorTom]

The US already is the world's piggy bank, has been for years.

[Daniela1982]

NO! Not the US, it's us taxpayers who take it in the ass. When the US can't pay their bills they just print more money. When taxpayers can't pay their bills they get visited by the IRS. Biden spouting out his ass about our future safety when he can't even secure our own borders.

[exitseven]

@Daniela1982 He wants to tie support to Israel with money for Ukraine and there might be a couple of hundred bucks in there for our own border.

[msc545]

The only reason that we spend the money it should rightfully be used at home on other countries is to do things like propping up US weapons manufacturers. If we aren't having our own war for them to sell weapons for we make sure there's a war elsewhere where they can sell weapons. The US government provides customers or becomes a customer for the US arms industry all the time and every time.

[noohair]

I can see your point. It is not foreign aid that I object to, it is all the graft and corruption wasting money on studying jellyfish and giving away money to buy voted. And it will end badly as 33 trillion is the beginning of the end of the dollar. Once the world does not trust the dollar, chaos will follow. If I were president I would be having Europe fund their own war. The Mideast is much more complicated.

[sage2021]

I think the drug Cartels should finance these wars. They have more money now and they love killing people with their poisonous drugs.

[rigmarole]

End up? This game has been in motion in America since the Federal Reserve took over in 1913. You're just starting to pay attention.

[Juxtapose]

Man fuck the world, they do nothing but talk shit about the USA. Let's put the money back into the USA.

[Avicenna]

We've been getting used and abused by our dependencies for 80 years now (100 if you want to include the WWI bailout of Britain and France).

[MikeInHawaii]

Joe Biden was a pathological liar and a fucking idiot long before he went senile. He is a career politician with zero grasp of basic economics. Our money will soon be toilet paper.

[Anonymous]

We have been the world's piggy bank for the past 100 years.

[Hispanic-Cool-Guy]

Amazing. Just about 2 months ago they didn't have the money to help struggling Americans to pay their college tuition but will have several billions for foreigners and their problems.

[YesterdaysChild]

@Hispanic-Cool-Guy Very good point. But they certainly like bailing out everyone else offshore.

[Masterodd]

They are going to try... But America will lose and when the folks who really owns the US want their money back... learn to speak a new language.