4 ms·

Federal Debt reached unsustainable levels long before I was born..

• bregma 3y ago
  ... and it's been sustaining it at such unsustainable levels for decades now and probably will decades into the future.
• hotnfresh 3y ago
  It was manageable until we cut taxes while rushing into two incredibly expensive optional wars on the other side of the planet with the executive using those and other post-9/11-reactions to loot the treasury. While, again, cutting taxes. We never made any moves to recover from that and have had no cushion for the two big crises since then (housing in ‘08, Covid in 2020). It’s not even clear trying to recover was realistic after the two Bush terms, the budget and debt was so far gone already. Just a recipe for getting thrown out of power and having someone else who’d ignore the nigh-unsolvable problem take over.
  • phpisthebest 3y ago
    While the cost side is 100% current, you are woefully incorrect to believe that raising tax rates is a solution to the problem (or that tax cuts caused the problem) Through out the entire history of the US federal tax collections are almost flat hovering around 18% of GDP no matter the make up of tax rates, changing the tax rates changes who pays the taxes, but ultimately it is clear total revenues are pretty flat. if the government wants more revenue it has to increase GDP not simply "raise tax rates" . At the end of the day any government spending in excess of 18% of GDP is unsustainable
    • hotnfresh 3y ago
      You and the CBO disagree about whether those cuts added a significant amount to the national debt.