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Comment by ragnot | Hacker News Reader

So expect massive inflation in the future?

Yes. We’ve written too many checks that we can’t possibly hope to cash.

If the fed gets in the way of the fiscal policy makers and their spending, they will obliterate it - it only exists because of a law passed by congress anyway.

Here’s a taste: https://www.rickscott.senate.gov/2023/3/sens-rick-scott-and-...

Edit:

That SAID, anything can happen. These breakthroughs with AI could very likely change all of that.

>If the fed gets in the way of the fiscal policy makers and their spending, they will obliterate it

"The enemy of my enemy is my ally"

-Rand Paul, probably.

This will be a bipartisan movement, that oversight plan is led by Elizabeth Warren and Rick Scott.

EDIT: Would be fun to see Rand Paul crusading for the Fed in defense of spending cuts.

That or much higher taxes and austerity. Max out your Roth account while you can.

They can always change the law and tax your Roth withdrawals...

I think the best bet is to do what everyone else is doing. They can't fuck everyone and keep their heads and keep their jobs. What do Millenials and Gen Z's retirement contributions look like? How's the picture gonna change as the Boomers die? Gen Z?

You don't wanna be the minority with a 401k when everybody else has a Roth and you don't wanna be the minority with a Roth when everyone else has a 401k. When push comes to shove the political minority will get fucked first. Alternatively, you can do something so off the wall and uncommon that you're a "small fish" and they don't care to tax you.

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