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High levels of government debt aren't exactly unique to America, however, America has the unique ability to issue it's own reserve currency that other countries
by 3vidence 2y ago
High levels of government debt aren't exactly unique to America, however, America has the unique ability to issue it's own reserve currency that other countries will absolutely buy.
Also isn't by far the number one government spending item the military? Why aren't they starting there?
- realdjtthrow 2y ago[flagged]
- 3vidence 2y agoDoes that really align with occupying Gaza, invading Panama and occupying Greenland? Let alone the loose threats to Canada.
- realdjtthrow 2y ago[flagged]
- motorest 2y ago> According to the UST it's Social Security Social security is reported as 21% of the total spending. It is also financed through a dedicated payroll tax. This means the federal government only acts as an income redistribution system where payroll taxes collected today are redistributed as pensions paid today. So even though social security shows up so high, it just reflects the income redistribution scheme where the current workforce maintains retirement pensions of workers who retired. The second largest expenditure is national defense at 15%.
- tzs 2y agoDefense is the largest discretionary budget item. They can cut it by simply not including as much money in the budget for it. Social Security is mandatory. They would have change the law cut it.
- jrs235 2y agoThey'll keeping buying dollars so long as they trust the US. Being erratic and shifty hurts that.