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In 2023 the US had a deficit of $1.7T which we borrowed to cover by issuing Treasury bonds. You could debate which part of the $6.4T was funded by debt, but it
by qeternity 2y ago
In 2023 the US had a deficit of $1.7T which we borrowed to cover by issuing Treasury bonds.
You could debate which part of the $6.4T was funded by debt, but it seems reasonable to say that foreign aid is not a mandatory expenditure. That also doesn't mean it's not worth borrowing for.
There is a helluva lot of fat to cut in the budget. Ukraine aid should not be the first port of call.
- clarionbell 2y agoIt is not mandatory by law. But if you want to keep being a superpower it very much is. Projecting your power and maintaining your commitments is a major part of that.
- bhawks 2y agoThe benefits of being a superpower are up for debate. Being a nuclear power is all that is needed for the security of US interests. There is significant need for investment locally.
- qeternity 2y ago> The benefits of being a superpower are up for debate. What? Nobody debates this. American excellency is a real thing. No country even comes close right now. I say this as an American expat.
- deleted 2y ago[deleted]
- JumpCrisscross 2y ago> if you want to keep being a superpower Foreign aid is about avoiding war. The hope is the belligerents will end things themselves, or at the very least delay the point where we have to ship soldiers.
- blitzar 2y agoForeign aid is often direct (and somehow legal) bribery.
- crngefest 2y ago> it seems reasonable to say that foreign aid is not a mandatory expenditure. Is it reasonable to say though? How is staying on top of global power structures not mandatory for the US? It was in the last 80+ years or so the highest priority.
- hobo_in_library 2y agoWhy does the US need to be the world hedgemon though? Other countries do just fine without being that way Google “BRICS” to see how nations are trying a new way to work cooperatively instead of imposing their will on each other
- votepaunchy 2y agoIt was even worse: “Removing the effects of announced student debt cancellation that the courts ruled illegal, the deficit totaled $2.0 trillion in FY 2023” https://www.crfb.org/blogs/2023-deficit-hit-17-trillion https://www.crfb.org/blogs/2023-deficit-hit-17-trillion