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Are we desensitized to large dollar numbers? The past year we have spent trillions more than previous years. Has anyone looked at the total govt debt in a whole

Are we desensitized to large dollar numbers? The past year we have spent trillions more than previous years. Has anyone looked at the total govt debt in a whole?

RobLach 5y ago
A lot of this bill is R&D and infrastructure which has historically generally paid back a multiple of the original investment.
- fennecfoxen 5y ago
  This bill does not claim to fund infrastructure, though given the things the "infrastructure" bill refers to as "infrastructure" and funds, perhaps we should take what we can get. I would stay it's at least as much "infrastructure" as elder care, and probably more. That said, while the returns on some government funded investments have been good, the return on others is nil, and the accounting is often puffed up by those who will benefit. It is quite reasonable to question whether this funding will be directed effectively, or whether it will be free money to inefficient dinosaurs like, say, IBM, which has lauded the bill. Others in these pages have noted a Blue Origin bail-out, more or less, which does more to reward the company for being politically connected than it does reward it for successful innovation. With regards to the question in the grandparent: Yes. Yes, we are desensitized. Do not expect this to change soon. If you fear we shall face ruin, take comfort in the words of Adam Smith: there is quite a lot of ruin in a nation.
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antognini 5y ago
Here is a figure from the CBO: https://www.cbo.gov/sites/default/files/images/full-reports/2020/56165-sumfig1_debt-history.png https://www.cbo.gov/sites/default/files/images/full-reports/...
29athrowaway 5y ago
Let's say the government spends $250b. Even considering all the blatant tax evasion in the private sector... some of that money will be spent on payroll. And each one of those salaries pay income tax. Then, each person will go and stuff with their salary, stuff that pays sales tax. And they will also be paying taxes in various ways. So, tl;dr: some of those $250b will become tax revenue. Let's hope those $250b won't become stock buybacks, executive bonuses and other forms of corporate welfare.
- krferriter 5y ago
  These sorts of funding measures should come with strings like that any company receiving funds cannot do any stock buybacks for a certain period of time (a few years).

Are we desensitized to large dollar numbers? The past year we have spent trillions more than previous years. Has anyone looked at the total govt debt in a whole?

RobLach 5y ago

A lot of this bill is R&D and infrastructure which has historically generally paid back a multiple of the original investment.

fennecfoxen 5y ago
This bill does not claim to fund infrastructure, though given the things the "infrastructure" bill refers to as "infrastructure" and funds, perhaps we should take what we can get. I would stay it's at least as much "infrastructure" as elder care, and probably more. That said, while the returns on some government funded investments have been good, the return on others is nil, and the accounting is often puffed up by those who will benefit. It is quite reasonable to question whether this funding will be directed effectively, or whether it will be free money to inefficient dinosaurs like, say, IBM, which has lauded the bill. Others in these pages have noted a Blue Origin bail-out, more or less, which does more to reward the company for being politically connected than it does reward it for successful innovation. With regards to the question in the grandparent: Yes. Yes, we are desensitized. Do not expect this to change soon. If you fear we shall face ruin, take comfort in the words of Adam Smith: there is quite a lot of ruin in a nation.

deleted 5y ago

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antognini 5y ago

Here is a figure from the CBO: https://www.cbo.gov/sites/default/files/images/full-reports/2020/56165-sumfig1_debt-history.png https://www.cbo.gov/sites/default/files/images/full-reports/...

29athrowaway 5y ago

Let's say the government spends $250b. Even considering all the blatant tax evasion in the private sector... some of that money will be spent on payroll. And each one of those salaries pay income tax. Then, each person will go and stuff with their salary, stuff that pays sales tax. And they will also be paying taxes in various ways. So, tl;dr: some of those $250b will become tax revenue. Let's hope those $250b won't become stock buybacks, executive bonuses and other forms of corporate welfare.

krferriter 5y ago
These sorts of funding measures should come with strings like that any company receiving funds cannot do any stock buybacks for a certain period of time (a few years).