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America's ruin will be spending itself into bankruptcy.
by WalterBright 1y ago
America's ruin will be spending itself into bankruptcy.
- dashundchen 1y agoTrump and Republicans had a great hand in this (Afghanistan and Iraq invasions, Bush tax cuts, Trump tax cuts, PPP helicopter money for the rich), and are looking to double down with their current disaster of a bill. Hope you're opposing that.
- brookst 1y agoThis wouldn’t be possible as the world’s reserve currency and provider of political stability. At incredibly low interest rates, most investments are positive ROI. But by destroying the US’ position as reserve currency and establishing the country as too untrustworthy to do business with, Trump has made your statement true. We can’t afford what we spend without those special economic benefits. And we just threw them away for no reason.
- 6figurelenins 1y agoThe geopolitical stability is now cheaper[1] than the debt service. Naturally, that calls into question the incredibly low interest rates, and the reserve currency status. If you need to blame Trump, the last straw was COVID. > At incredibly low interest rates, most investments are positive ROI. Step 1: Hold short term rates at zero, forever Step 2: ??? Step 3: Profit Step 4: Wow, that's a lot of debt [1] https://www.cfr.org/blog/first-time-us-spending-more-debt-interest-defense https://www.cfr.org/blog/first-time-us-spending-more-debt-in...
- matwood 1y agoIf you truly believe that, the fix is the opposite of what the GOP is proposing. Freeze spending at today’s levels, raise taxes (uncap SS, add higher tax brackets, add a wealth tax, etc…), then let the economy grow naturally.