U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected

Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,... by s1artibartfast on Saturday October 28, 2023 @04:10AM (#38048100)

>Not really, because most government debt isn't consumer debt. US isn't increasing money supply to pay for social security or to pay workers. It's increasing things like military contracts for large corporations.

You are confusing the debt owner, and where the money was spent. The governments make create internal debt for a military contract, but the debt is held either by the public (e.g bonds), or intragovernmental ( e.g. borrowed from the social security fund) When these get paid back, they go into circulation.

Besides, Most government spending goes to salaries and benefits.

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Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,... by yogthos on Saturday October 28, 2023 @06:17AM (#38048612)

I'm not, as the link I provided you with clearly explains, personal wealth in US is decreasing. It's now at the point where people have negative assets because they're forced to borrow to meet their basic needs.

If what you claim was happening then we wouldn't be seeing this happening. If money went to salaries and benefits, then workers wouldn't be under water financially the way they are right now.

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