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Now is a good time to reduce the size of the military, cut the TSA, NSA, CIA, Homeland Security, DEA bureaucracy (all of which are consumption activities that p
by meric 11y ago
Now is a good time to reduce the size of the military, cut the TSA, NSA, CIA, Homeland Security, DEA bureaucracy (all of which are consumption activities that provide political power to certain sections of the government), to reduce borrowings and invest in public infrastructure, yes.
Will it happen? No.
What will happen is the U.S. national debt will grow so large, the cans receive a few more dozens of kicks, the "emperor is naked" fable finally comes into play, U.S. will eventually declare bankruptcy, and force to cut its bureaucracy to the bone. The sudden political change will increase political instability in the U.S., and the government may or may not survive, and no matter what happens, a U.S. state will rebuild, starting with expanding the government through investment in public infrastructure, to justify concentrating political power in its hands once again.
But that's another two to five decades away. It will happen no matter what you or I say.
- guelo 11y agoMeanwhile China continues to dramatically invest in all aspects of its economy and surpasses the US while our investments from last century dwindle away. Because people like you have won and we are not ever allowed to invest in ourselves as a country anymore.
- meric 11y agoI wrote my comments as an observation what U.S. is doing, not what U.S. should be doing. It's only the reality of the situation. I would like to inform you I am in fact Chinese (living in Australia), and I save 80% of my income for my retirement, and invest in myself. You can blame your government for operating in a way to cause the Fed to lower the interest rate to zero, so that everyone borrows to consume and no one likes to save anymore. I put away 80% of my income every month to invest in Australia's economy. How much do you save and invest in yourself and your country? As the saying goes, to take care of the world, first take care of your country. To take care of the country, first take care of your family, and to take care of your family, first take care of yourself.[1] [1] https://books.google.com.au/books?id=jSXjAQAAQBAJ&lpg=PA89&ots=1r2AM1nlnV&dq=Once%20%20person's%20will%20becomes%20cheng%20his%20heart%20mind%20can%20be%20set%20upright&pg=PA89#v=onepage&q=Once%20%20person's%20will%20becomes%20cheng%20his%20heart%20mind%20can%20be%20set%20upright&f=false https://books.google.com.au/books?id=jSXjAQAAQBAJ&lpg=PA89&o...
- tcbawo 11y agoRegardless of nominal debt, the US will never declare bankruptcy. There is no reason to. Our debt is denominated in a dollars, which we have the ability to collect in taxes, or print.