Like, yeah. It certainly f#cking well is. Was eight years ago. Still is today.

The $34 trillion dollar debt, which is increasing by $1T every 100 days, has the potential to wipe out the nation -- in fact, it's usually overspending that sinks governments through history.  Servicing the debt will shortly exceed the military spending.  The fed has continued to spend at COVID "emergency" levels since 2020.

A CR completely ignores this problem.  Even a 0.5% cut across all government agencies would be something.

The traditional way a government deals with debt is by burning it out with high inflation (essentially making it's debt less).   That also means higher interest rates on bonds or no one will buy the debt.  

The dollar is also the world's reserve currency which complicates all the traditional economic theories with regards to debt and prompted VP Dick Chaney to say "Reagan proved US debt doesn't matter."  Politicians today continue to believe that lie. (I heard Biden repeat it.)  Stagflation and high interest rates from the Fed in the 1970s were associated with many of the similar problems that we face today.  Our domestic overspending and weaponization of the dollar (e.g. Russia) is starting to (once again) unsettle the rest of the world as it did leading up to Nixon leaving the gold standard in 1972.  Having kicked the can for decades, are now left with very little wiggle room.

In many ways, we never recovered from the recession of 2008 despite all the Quantitative Easing trickery (invented by Japan!).

With regard to Harris, I have yet to hear a single thing from her to-date that made me think she is smart.  And by "smart" I mean makes me pause for a second and say "whoa, I didn't realize that" or "I know she understands the critical issues".  So far it's been all feel-good platitudes, identity politics, and vibes.  I don't give a hoot for "vibes" and value merit over identity.   Ultimately, her lack on mental clarity doesn't matter---clearly someone(s) else is running the government now and will be for her admin too.  I find the latter most disturbing because I personally fear rule by a bureaucratic elite more than anything else.  In 1776, that elite was called the British monarchy and aristocracy.  Today, "they" wisely don't have a public name but Eisenhower's warning resonates.

Compare it to someone with a mortgage on their house. National debt is akin to the mortgage. GDP is akin to your annual salary. Having a mortgage that exceeds your annual salary is not problematic. Constantly borrowing more as a % of your salary, even as your salary grows is not wise in the long run, of course.

I don't disagree on most of that, but consider real inflation as one cause for the stock market run since COVID (i.e. the wealthy put money into real assets).  That inflation was driven by fed spending.

QE has created a credit bubble.  Two predicts: 1) credit bubble bursts in the next year and markets plunge 2) we are already in a recession and it will be acknowledged after the election..

I don't think we can service the debt for much longer if we stay on the current trajectory.  Time to shrink government spending.