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I think raising taxes is a good idea but arbitrarily making up the number is not. The idea that this would cover some 'Green Deal' ignores the 800 lbs gorilla i
by AimForTheBushes 8y ago
I think raising taxes is a good idea but arbitrarily making up the number is not. The idea that this would cover some 'Green Deal' ignores the 800 lbs gorilla in the room- a trillion dollar deficit year after year. We really need to figure out how to make the government more efficient and work in the allotted funding for it. Every politician wants to spend a whole bunch of money trying to push their agenda but it's always on credit.
- mempko 8y agoTrillion dollar deficit means there are a trillion dollars extra floating around in the private sector. Trillion dollars more in people's bank accounts. If there was no deficit spending, there would not be money floating around in circulation that isn't debt issued bank notes.
- zozbot123 8y agoExactly. And all this money sloshing around is what leads to inflation, so the central bank has to make up for it by doing things like "tapering" QE, raising interest rates, and generally crashing the economy.
- AimForTheBushes 8y agoOnce the deficit eclipses the total GDP it won't matter if there is extra money floating around because inflation will spiral.
- millstone 8y agoDid you mean debt? The deficit is nowhere close to GDP. Japan has a much higher debt to GDP ratio than the US, and inflation of <1%.
- chefkoch 8y ago>ignores the 800 lbs gorilla in the room the defense budget?
- AimForTheBushes 8y agoPartially, yes.