could AI solve the national debt

[tyroneweaver]

The looming gorilla in the room. I feel sorry for the president when the collapse happens.
All this gloom looming about the debt wha is even scarier is that SS is not factored into this. Ya know SS that hand out all the illegals are getting now

well, at any rate could AI solve this gigantic problem

Yes, Social Security Does Indeed Add To The Federal Deficit

If we're going to engage in a conversation about Social Security and retirement system reform, we need honesty, not rhetoric.

www.forbes.com

 

[JohnDB]

The looming gorilla in the room. I feel sorry for the president when the collapse happens.
All this gloom looming about the debt wha is even scarier is that SS is not factored into this. Ya know SS that hand out all the illegals are getting now

well, at any rate could AI solve this gigantic problem

Yes, Social Security Does Indeed Add To The Federal Deficit

If we're going to engage in a conversation about Social Security and retirement system reform, we need honesty, not rhetoric.

www.forbes.com

The old axiom....
If the money I paid into SS was invested in low risk index funds....I would be a multi millionaire. Those who have the loophole (railroad and certain other exempt workers) are usually millionaires when they retire.

The rest of America gets robbed by politicians buying favor with our money....except now it's our retirement money. The next stop is our IRA accounts. They will confiscate those to buy votes....

 

[P F Tinmore]

The looming gorilla in the room. I feel sorry for the president when the collapse happens.
All this gloom looming about the debt wha is even scarier is that SS is not factored into this. Ya know SS that hand out all the illegals are getting now

well, at any rate could AI solve this gigantic problem

Yes, Social Security Does Indeed Add To The Federal Deficit

If we're going to engage in a conversation about Social Security and retirement system reform, we need honesty, not rhetoric.

www.forbes.com

Why do we have debt at all? We can create our own money a no cost. There is nothing to pay back and there is no interest.

So then, why do we borrow it?

 

[Harpy Eagle]

Why do we have debt at all? We can create our own money a no cost. There is nothing to pay back and there is no interest.

So then, why do we borrow it?

so that our money has some value to it.

 

[P F Tinmore]

so that our money has some value to it.

How so?

 

[JohnDB]

Why do we have debt at all? We can create our own money a no cost. There is nothing to pay back and there is no interest.

So then, why do we borrow it?

Because printing money causes inflation.

Our money is what they call a "Fiat currency". In other words it's not a commodity in itself....it only has value so long as someone else wants it. It's not a commodity like gold or food.

As it is fiat we(collectively through the Government) can manipulate its value to increase or decrease to assist in the development of the economy and make debts shrink in value.
However, shinking debts by inflation will kill a certain percentage of the population that are retired or on fixed incomes.
Shrinking the value does create liquidity and helps it move (creating GDP) but also more debt.

Increasing the currency value creates more wealth for the citizens....(deflation)
However it decreases the amount of goods we export as they become too expensive for other nations to purchase. It does make imported goods much cheaper.

 

[P F Tinmore]

Because printing money causes inflation.

Our money is what they call a "Fiat currency". In other words it's not a commodity in itself....it only has value so long as someone else wants it. It's not a commodity like gold or food.

As it is fiat we(collectively through the Government) can manipulate its value to increase or decrease to assist in the development of the economy and make debts shrink in value.
However, shinking debts by inflation will kill a certain percentage of the population that are retired or on fixed incomes.
Shrinking the value does create liquidity and helps it move (creating GDP) but also more debt.

Increasing the currency value creates more wealth for the citizens....(deflation)
However it decreases the amount of goods we export as they become too expensive for other nations to purchase. It does make imported goods much cheaper.

All that does not change whether we create our own money or borrow it. It is the amount of money that matters. The source does not.

The bottom line is that if we create our own money, there is no debt.

 

[JohnDB]

Using AI to "fix" the economy is a really bad idea.
Because of the limited goals AI will seek to achieve.

The USA lives among 200+ other nations that we influence in some fashion by our actions or lack thereof. Which can result in a war if we are not careful.

Economic problems are just ONE aspect of leadership and governance. Sure, back pocket politics tend to be the most important thing to influence how people vote....but essentially the current AI programs are not much more than glorified search engines. Incapable of independent thought.

The largest mutual funds all use computer modeling for shorting or purchasing stocks. Since others have figured out their algorithms people like Keith Gill (Roaring Kitty of GME fame) can manipulate and devastate hedge funds with nothing more than a few posts on social media.

 

[Votto]

The looming gorilla in the room. I feel sorry for the president when the collapse happens.
All this gloom looming about the debt wha is even scarier is that SS is not factored into this. Ya know SS that hand out all the illegals are getting now

well, at any rate could AI solve this gigantic problem

Yes, Social Security Does Indeed Add To The Federal Deficit

If we're going to engage in a conversation about Social Security and retirement system reform, we need honesty, not rhetoric.

www.forbes.com

It probably could but won't be allowed, or if it is allowed, it will not be told to the public

After all, the powers that be don't want the problem to be solved, which is why they either need to destroy AI or control it.

 

[JohnDB]

All that does not change whether we create our own money or borrow it. It is the amount of money that matters. The source does not.

The bottom line is that if we create our own money, there is no debt.

Creating money creates debt. Money must have a source. It is issued out as bonds. Government bonds are what is termed as commercial paper and usable for collateral on loans or sold for cash.

 

[JohnDB]

And like the article discusses....

Just because you don't call it debt doesn't make it not debt.

 

[P F Tinmore]

And like the article discusses....

Just because you don't call it debt doesn't make it not debt.

Indeed, if we create our own money, who would we owe it to?

 

[JohnDB]

Indeed, if we create our own money, who would we owe it to?

When the government creates money it is YOUR DEBT....you personally owe the money.

 

[Darkwind]

so that our money has some value to it.

It has none right now.

 

[fncceo]

could AI solve the national debt​

Since AI doesn't actually exist, it's hard to say.

 

[P F Tinmore]

When the government creates money it is YOUR DEBT....you personally owe the money.

The government creates some money and gives it to someone on SS. I don't see any debt here.

 

[Harpy Eagle]

It has none right now.

Not sure if you are just not very well informed or if this is wishful thinking to gain your beloved party a few more votes in Nov.

 

[Captain Caveman]

All that does not change whether we create our own money or borrow it. It is the amount of money that matters. The source does not.

The bottom line is that if we create our own money, there is no debt.

Quantitative Easing devalues the currency, increases inflation, and wipes out returns on savings. Borrowing doesn't.

 

[P F Tinmore]

It has none right now.

Inflation is not that prices have gone up; it is that the value of money has gone down.

Quantitative Easing devalues the currency, increases inflation, and wipes out returns on savings. Borrowing doesn't.

Isn't Quantitative Easing and Borrowing the same thing?

 

[Captain Caveman]

Isn't Quantitative Easing and Borrowing the same thing?

No.