“Budget process starts out idealistic and it ends up devolving into a turf war between members over over who can control what, and the whole system falls apart,” says Brian Riedl.
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So you see. When there are not a lot of comments I can see that have you delete mine. That free speech thing getting in the way? How Republican and Democrat of you.
I care about the national debt.
That it’s so out of control is just another symptom of a dysfunctional political ruling class whose interests are not aligned with the people of America.
https://youtu.be/KgUemV4brDU?si=E83YLx9BUodhJ6nX
It used to be, particularly with Reagan, that the debt was our most important issue and he claimed his tax policies would solve the problem. When Reagan left office instead of lowering the debt he almost tripled it. Every GOP President since has continued the trend although they try and blame the Dems. Today more than 3/4 of the debt is from GOP Presidents. Under every Dem President, particularly since Clinton, they were working on reducing it. So the question we should be asking is not why both sides do it but why we let the GOP get away with it particularly because the fault is with tax cuts that primarily go to the top 1%. Finally as with any Republican President, Trump or otherwise, the first thing they do when they come into office, regardless if the economy is doing great or not, is give another tax cut primarily to the rich which further increases the debt.
No one cares but they will
And what’s the austrian economics view on deficits of punitive-states? What would Rothbard say about this?
$500bn per year in interest payments alone. Yes people care about it.
As long as the fridge is full on friday evening.Very few will care."Give me control over the money supply of a country and i do not care who makes its laws." : Mickey Mouse 1971
No, no one that matters cares.
We should, but we dont.
the USA needs a Milei (and Trump ain't it)
Spend spend spend
we only care in the fact that when it all blows up, we are going to be hurting and suffering. it will never be repaid and when the brics nations get their new currency deals straight, bye bye petro dollar as the worlds reserve currency.
prepare now.
The economic news over the next 2 weeks is mostly CPI and Fed related and we know inflation is up so I'm of the opinion prints will come in hot and markets will correct throughout most of March now that they don't have NVDA earnings to save them by pulling the trend back into that bearish rising wedge forming since October. We already have bearish divergences on the RSI on the longer time frames, should play out soon….This pattern offers a valuable insight for strategic planning. Despite these trends, i have delve deeply into active trading and managed to grow a nest egg of around 100k to a decent 432k in the space of a few months… I'm especially grateful to Kerrie Farrell, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape…
It doesn’t even make sense to collect taxes any more since the government spends money regardless of the income. Taxes are killing off the middle class but essentially meaningless with regard to spending.
At the end of the day, it comes down to who has the biggest stick.
CERTAINLY not the 1% who hold 99% of the wealth!!
America in 2024 is Rome around 380. The collapse is inevitable.
Printing money is just a tax without declaring it !
Nobody cares. It's just brazen looting at this point. Everyone in Washington DC is getting their "10%". Get all you can before it all comes crushing down.
Republican don’t want to raise taxes and democrats don’t want to cut spending
$25 trillion of the national debt is held by the US public. That just means entitlement programs will disappear in a couple of decades. If you are depending on the government now, well, that gravy train will be ending in the next 20 years.
Maybe not wasting money on pointless wars would help
When they printed 1t to give everyone less than one months rent, and no one batted an eye anywhere, I knew we had passed the rubicon as a nation. We're finished, and it's by design.
In my limited understanding, a few things,
1) The National Debt is not real, it's like counting how many hotdogs you've ate in your lifetime, the hotdogs are already ate, the national debt has already been covered and inflation picked up the tab. It's just a different way to calculate how much money we've created over the years (and why a backed currency couldn't work).
2) All money is printed or created to fund federal programs, your tax dollars do not go to a fund that is then spent and then they print the remaining deficit, all of it is printed, your tax dollars are just an inflation sink and adds value to the currency as you need it to pay taxes,
3) If you look at deficit spending over the years you'll see an increase in the 80s, right when Reagan axed the 70% top tax bracket. Maybe we can finally talk about bringing that back or unfortunately, cut military spending like Clinton did that got us in the black for the first time since Carter.