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Both sides are actively harming America in ways that will remain for more than a generation. The growing deficit will force us to devalue the dollar, which wil
by bitmasher9 2y ago
Both sides are actively harming America in ways that will remain for more than a generation. The growing deficit will force us to devalue the dollar, which will remove the status of global reserve currency. This inevitably is going to raise the price of imports, which is why both sides are focusing on reshoring strategic manufacturing.
Currently we are getting a pass because all currencies are being devalued, and ours is devaluing slower than others. Growing deficits might cause us to devalue faster, or economic recovery might push foreign currencies into a stronger position.
EDIT: I’m not arguing that both sides are the same, or that one side isn’t better than the other. I’m arguing that neither side is taking our long term interests to heart.
- mindslight 2y agoYou've got the causality backwards. Pulling back from the world and ending the US as a source of stability will destroy the status of global reserve currency. And the focus on the "deficit" (which tacitly ignores all the artificially-cheap loans given to the financial industry by the Federal Reserve) is just a kayfabe partisan point rather than a real analysis. In actuality that high price inflation from the first Trump term caused the first shred of fiscal responsibility from the Fed that we've seen in over two decades. Our country would be in a much better state if monetary creation could have continued with deliberate spending on domestic industry rather than being directed back at the everything bubble plus some magical-thinking tariffs.
- Jgoure 2y agothey aren't very intelligent and have the inability to read news sources produced outside of the US. why waste your time