At some point I realized: there is no plan to fix it. Both of the parties are just hoping that the upcoming crisis happens while the other party is in power.
Some mitigating circumstances are COVID in his first term (also effecting Biden), but there's also a lot of 'self-inflicted' damage, especially the last two years.
It turns out tax cuts may not actually pay for themselves (never mind ill-considered military adventures).
The smart thing to do would be to raise taxes (not just on the wealthy) and cut entitlements. Reducing the deficit would indeed slow down inflation, give the Fed room to cut interest rates, and boost business investment. The economy would be in a much healthier place.
At some point I realized: there is no plan to fix it. Both of the parties are just hoping that the upcoming crisis happens while the other party is in power.
It take a hero to dive on the grenade.
Such dives tend to be fatal.
Until AI can produce a blast-management plan to ensure the hero's survival, the necessary courage shall remain elusive.
Over his 1.5 presidential terms, Trump has accumulated over a quarter of the US debt ($11T / $40T):
* https://www.us-debt-clock.com/presidents
Some mitigating circumstances are COVID in his first term (also effecting Biden), but there's also a lot of 'self-inflicted' damage, especially the last two years.
It turns out tax cuts may not actually pay for themselves (never mind ill-considered military adventures).
That's about the nominal GDP of Spain.
Category error. These comments are only relevant with a democratic administration.
I assume you're being satirical.
The GOP only defines a deficit as bad when Democrats hold power.
They appear to be stating what’s essentially the official position of one of the parties if that’s evaluated based on actions. So is it really satire?
> The red ink has led to dire warnings from economists that the US now routinely runs annual deficits that were previously seen only during recessions
imagine what's going down after two more years of this
Iran War will still be happening at a BILLION dollars a day
gas will still be draining an extra BILLION dollars a day from everyone's pockets
how much healthcare and homes could have been bought with that
Theres noone in charge.
Algorithm for surviving "rats on a sinking ship":
1. Watch the program execute
2. Examine behavior patterns
3. Best guess where they point
4. Prepare for that, whatever that is.
5. Error correct and repeat step 1.
The smart thing to do would be to raise taxes (not just on the wealthy) and cut entitlements. Reducing the deficit would indeed slow down inflation, give the Fed room to cut interest rates, and boost business investment. The economy would be in a much healthier place.