I haven't read through the thread yet (but will do so). But a couple of quick thoughts: --we haven't felt the effects because we are "exporting our inflation." That is to say, the world is still interested in buying up excess dollars, because it's the world's most stable currency. If this wasn't happening, we would feel the effects of inflation, brought on by quantitative easing, a whole lot more. [and somewhat in contradiction] --we are feeling the effects of inflation, but it's in things that the government doesn't put in its CPI basket: education, transporation, housing, insurance, etc. These costs have risen significantly. But yes, I think deficits matter, and if we don't right the ship, it will bite us in the @$$. Namely: higher taxes, and devalued currency and devalued savings. Also: the government can't raise taxes enough to fix the problem, both in a political and operational sense. Spending has to be cut.
Yes; but not in a way that people understand or are honest about. Anyone who's cleaned out their garage or gutters knows that eventually you just run out of space. Also, starting two generational wars after the Berlin Wall fell and fetishizing tax cuts were plainly irrational and avoidable.
Deficits matter because they lead to debt which leads to more of our tax dollars paying the interest on that debt instead of going to programs that benefit the economy. As much as we all rail on the military industrial complex or welfare which dollar wise is primarily Medicaid, cuts in those areas cost jobs. Keep running deficits and eventually you do have less money for Defense and Medicaid as you have more and more interest to pay instead. As an aside and forgive my ignorance but I’ve never understood the old hey none of it matters because we can just print money! Well in that case why have taxes at all? Just let us keep all our income and whenever the government wants to buy an aircraft carrier or pay for SNAP just print the money and sign the check?
You'll have to go in one of his own threads and page him, it's like he's in his own little bubble there.
US budget deficit topped $1 trillion in 2019 for the first time in seven years PUBLISHED MON, JAN 13 20202:21 PM ESTUPDATED MON, JAN 13 20203:12 PM EST https://www.cnbc.com/2020/01/13/bud...st-time-in-7-years.html?__source=twitter|main
Nope. They are all screaming and puffing their chest out blaming entitlements and social services. The Republican Party isn't the same party that it has been in the past. Spending money isn't a concern for most Republicans in the White House, Senate or House. It all comes down to what the money is spent on. Democrats want to spend the money on entitlements and social services and science. Republicans want to spend the money on tax cuts for corporations, the military and a wall to keep out Mexicans.
National parks are for p*****s and socialists. If we cannot tap all the natural resources from Mouth McKinley and Denali national park, then it has got to go. All it is doing is costing us money to maintain. Seriously, we don't even have a military base on McKinley - free riding POS.
I have no faith in either party to do anything about the debt anytime soon. I can't remember the last time I heard a Republican or Democrat talk about taking on the national debt in a serious way (though I've tuned out to a degree). It's not a campaign talking point. Nobody cares. Well, I care... but that's about it.
Well, I hear you, but two things. One, it always seems to be a campaign talking point for GOP candidates running against incumbent democrats. At least in my lifetime it always seems that way. Two, Clinton and Obama both talked about it and actually made steps (moreso Clinton, obviously) to reign in runaway spending. I know you've seen the charts about how the federal deficit expands and contracts under which administrations. Based on the data: a conservative Congress with a democrat in the Whitehouse is usually pretty good for fiscal responsibility. Any other combination is absolutely horrible, from what I can tell.
Yea, I mean, I’m not interested in going back over the whole situation and casting stones at the GOP or the Dems over how we found ourselves here. That path is well worn enough. Something needs to be done moving forward though and unfortunately I don’t see it with either the GOP or with the Democratic field of candidates. I’m lamenting that.
