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We were probably doomed to see a major public debt crisis eventually when we cut taxes going into two extremely-expensive long wars under W Bush, the “probably”
by alabastervlog 1y ago
We were probably doomed to see a major public debt crisis eventually when we cut taxes going into two extremely-expensive long wars under W Bush, the “probably” was upgraded to an “almost certainly” when we cut taxes again under Trump, then Covid happening removed the “almost” from that.
Now we appear to be trying to move the timing of the crisis from 20+ years out, to less than a decade out.
- justanotheratom 1y agoFederal Revenue actually went up after Trump Tax Cuts. I hope we can agree that there was some justification for a big spending bill in Covid time window. But after that, there was no justification IMO for the crazy spending that happened in the last 4 years. Data: Table of Federal Revenue vs Spending: https://chatgpt.com/share/681e9040-edf8-8008-ae3d-370bb5a0d285 https://chatgpt.com/share/681e9040-edf8-8008-ae3d-370bb5a0d2...