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Maybe the federal government needs a reset/dismantling/pruning/whatever you want to call it. With any "normal" president (including Kamala Harris), the federal

by umvi 2y ago

Maybe the federal government needs a reset/dismantling/pruning/whatever you want to call it. With any "normal" president (including Kamala Harris), the federal government would likely be expanding spending and gov't programs right now even though the debt is so huge that interest payments on the debt now eclipse the defense budget, which itself exceeds the next 9 defense budgets in the world combined.

tomrod 2y ago
Current budget is set to expand deficit spending due to tax cuts and certain spending increases, in spite of project cuts to social safety nets and entitlements.
ImPostingOnHN 2y ago
> With any "normal" president (including Kamala Harris), the federal government would likely be expanding spending and gov't programs right now Perhaps, and in such a case, the american economy would not be cratering like it has been lately, and americans would be suffering less, and america would be stronger on the international stage. In fact, all things considered, more spending would have been better for america than the current state of things. > the debt is so huge that interest payments on the debt now eclipse the defense budget There's always taxing the rich, but the plan by the american ruling elites in the republican party currently seems to be to increase the debt sky-high via tax cuts for rich americans, only partially paid for via increased taxes on non-rich americans, with the rest piled onto the american debt burden.
- umvi 2y ago
  You can't just spend your troubles away forever. It might temporarily alleviate things, but long term it will collapse the entire system. At some point there need to be painful austerity measures - budget cuts, increased taxes, and the like. It's unpopular to do painful things, but it's necessary for survival.
  - tinyplanets 2y ago
    But you also can't just cut taxes forever. The tax cuts being proposed by the current Republican budget are projected to add even more to the deficit.
    - umvi 2y ago
      I don't disagree with you - I'm in favor of both slashing spending and increasing taxes. It seems as though republicans like to decrease both spending and taxes while democrats like to increase both spending and taxes. Both strategies are not helpful when it comes to national debt. Perhaps when democrats come to power again they will be wise and raise taxes without restoring all the spending/programs Trump cut.
  - ImPostingOnHN 2y ago
    You can't just cut your troubles away: Poor educational system; low education; high income inequality; low real income growth rate; high rates of drug addition; low social mobility; housing shortages; poor public transit; decreased access to healthy food; private equity buying everything and jacking up the prices; etc. In fact, most solutions to troubles require spending time and/or money. Very few are resolved by "do less, and do it worse". > At some point there need to be painful austerity measures - budget cuts, increased taxes, and the like. Perhaps: america can start with increasing taxes on the rich, instead of decreasing taxes on the rich and increasing taxes on the non-rich. That should get america more money and hurt fewer people.
  - mattfca 2y ago
    you have a fundamental misunderstanding of govermental debt and the US.the US CAN 100%, its not a guess its a fact, spend away their troubles forever. learn how the global economy is, understand what fiat is, find out what your missing. (first hint, money is a construct - and follow the tbills) you know what does make the US have to do "painful austerity measures - budget cuts, increased taxes, and the like. It's unpopular to do painful things, but it's necessary for survival" ?? Watch everything the current administration does because they dont understand modern economics and you'll see.
throwaway29812 2y ago
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xorcist 2y ago
No need for the scare quotes. The current federal budget is expanding, under the current administration. Had they the slighest wish to shrink the debt, or at least not expand it further, tax cuts would have been out of the question until the budget allows for it.
- eru 2y ago
  Well, they are trying to enacted the biggest tax rise in history.
const_cast 2y ago
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by umvi 2y ago

tomrod 2y ago

Current budget is set to expand deficit spending due to tax cuts and certain spending increases, in spite of project cuts to social safety nets and entitlements.

ImPostingOnHN 2y ago

> With any "normal" president (including Kamala Harris), the federal government would likely be expanding spending and gov't programs right now Perhaps, and in such a case, the american economy would not be cratering like it has been lately, and americans would be suffering less, and america would be stronger on the international stage. In fact, all things considered, more spending would have been better for america than the current state of things. > the debt is so huge that interest payments on the debt now eclipse the defense budget There's always taxing the rich, but the plan by the american ruling elites in the republican party currently seems to be to increase the debt sky-high via tax cuts for rich americans, only partially paid for via increased taxes on non-rich americans, with the rest piled onto the american debt burden.

umvi 2y ago
You can't just spend your troubles away forever. It might temporarily alleviate things, but long term it will collapse the entire system. At some point there need to be painful austerity measures - budget cuts, increased taxes, and the like. It's unpopular to do painful things, but it's necessary for survival.
- tinyplanets 2y ago
  But you also can't just cut taxes forever. The tax cuts being proposed by the current Republican budget are projected to add even more to the deficit.
  - umvi 2y ago
    I don't disagree with you - I'm in favor of both slashing spending and increasing taxes. It seems as though republicans like to decrease both spending and taxes while democrats like to increase both spending and taxes. Both strategies are not helpful when it comes to national debt. Perhaps when democrats come to power again they will be wise and raise taxes without restoring all the spending/programs Trump cut.
- ImPostingOnHN 2y ago
  You can't just cut your troubles away: Poor educational system; low education; high income inequality; low real income growth rate; high rates of drug addition; low social mobility; housing shortages; poor public transit; decreased access to healthy food; private equity buying everything and jacking up the prices; etc. In fact, most solutions to troubles require spending time and/or money. Very few are resolved by "do less, and do it worse". > At some point there need to be painful austerity measures - budget cuts, increased taxes, and the like. Perhaps: america can start with increasing taxes on the rich, instead of decreasing taxes on the rich and increasing taxes on the non-rich. That should get america more money and hurt fewer people.
- mattfca 2y ago
  you have a fundamental misunderstanding of govermental debt and the US.the US CAN 100%, its not a guess its a fact, spend away their troubles forever. learn how the global economy is, understand what fiat is, find out what your missing. (first hint, money is a construct - and follow the tbills) you know what does make the US have to do "painful austerity measures - budget cuts, increased taxes, and the like. It's unpopular to do painful things, but it's necessary for survival" ?? Watch everything the current administration does because they dont understand modern economics and you'll see.

throwaway29812 2y ago

[dead]

xorcist 2y ago

No need for the scare quotes. The current federal budget is expanding, under the current administration. Had they the slighest wish to shrink the debt, or at least not expand it further, tax cuts would have been out of the question until the budget allows for it.

eru 2y ago
Well, they are trying to enacted the biggest tax rise in history.

const_cast 2y ago

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