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250 billion isn’t much relative the revenue and expenditures of governments. Government operates in the trillions. California lost 40 billion in a couple months
by 2devnull 3y ago
250 billion isn’t much relative the revenue and expenditures of governments. Government operates in the trillions. California lost 40 billion in a couple months trying to administer unemployment insurance, something you would expect a government to be able to do with some competence, having many decades of experience. But nobody cares in the government if the government should lose 100 billion here, a trillion there, because hey there are still rich people we can tax to get more money! There are no consequences for losing tens or 100s of billions on dollars, you get promoted in the public sector because your budget was large, not because you spent the money well.
Government will never be incentivized to function properly until their revenue, like any and all successful institutions, is dependent upon their own competence. Endless skies the limit money with no consideration for how wisely or efficiently that money is used is an obvious recipe for national failure.
- Retric 3y agoCalifornia has a larger economy than Germany and is only beaten by US, China, and Japan. It just has vastly more money than most countries.