The country's eventually going to go broke, which will precipitate a colossal worldwide depression, since the whole world is connected financially. I doubt it will mean war, or civil unrest, but that can't be ruled out either. There's only one thing that can stop it, massive cuts in government spending AND simultaneous and roughly equal massive increases in taxes, which will both generate a severe economic recession. The Left will not allow the former, and the Right will not allow the latter.

Who's at fault? Everybody. Consumer debt, government debt, and business debt (they like to call it "investment", but its still trying to get something for nothing; buy now, pay later). Greed is playing a role, too. Government is greedy for votes, the public wants easy jobs with high pay and lots of toys, and business wants to make huge profits, not share them with their workers, and not deliver anything of value for it.

Does ideology play a role? A lot less than you might think. Both sides just want to do favors for their constituency, because it gets them votes. The Dems have no ideas, the Reps only have bad ones. I tend to have a bit more sympathy for the Democrats because they find it is in their interest to keep me happy, but I know perfectly well they don't do it because they love me. They only want my vote. The Republicans, on the other hand, don't give a damn if I live or die. All they care about is not paying taxes and keeping salaries down.

What's the best I can hope for? Deflation instead of inflation. Its better for people like me on fixed incomes. Deficit spending leads to inflation, and that's what business and government both want, because it erodes debt. But recession brings deflation, and that's good for people like me on fixed incomes.

What am I doing to prepare myself? There's only one thing I can do, stay out of debt, save money, make sure the house is in good repair, the pantry stocked, and keep the cars tuned up and topped off.

Any questions?