3 ms·
> If we started that process today But we're not, right? Not only are we not doing that, we're nowhere close to that? We're still on tracking to collect roughl
by MuffinFlavored 4y ago
> If we started that process today
But we're not, right? Not only are we not doing that, we're nowhere close to that? We're still on tracking to collect roughly the same in taxation (leaving loopholes open for corporations on purpose) and spending more than ever (growing every year).
- ashwagary 4y agoEven worse, $19T added to the debt is an extreme lowball by some expectations. Many estimates put the US national debt closer to $90T by the end of the decade. The country is right on the edge of walking into one of the most expensive wars in its history as well as a few delayed economic disasters that would kick the money printer into much higher gear. Trump adding $10T+ in a relatovely uneventful 4 years even before the massive inflation spike hit should give you an idea how quickly diminishing returns on QE can escalate spending.