3 ms·
When the US has a surplus with no debt, as it was pre-Nuclear Arms race, they can afford to do things like be generous with housing, etc. We can't do that now b
by reenorap 1y ago
When the US has a surplus with no debt, as it was pre-Nuclear Arms race, they can afford to do things like be generous with housing, etc. We can't do that now because we have too much debt, and most of the money is being funneled to the elites.
- ckemere 1y agoWe had a surplus under Clinton (well after Nuclear Arms race) which was parlayed into deficit by Bush tax cuts.
- reenorap 1y agoI misused the word "surplus". Surplus is talking about a net positive in terms of government income less spending. What I meant was total government debt. Yes we had surpluses under Clinton but the US was still deeply in debt. We went from the largest creditor nation to the largest debtor nation in the world under Ronald Reagan.
- terminalshort 1y agoMost of the money is being funneled to the old. The US government is an insurance company with an army.
- reenorap 1y agoFrom Obama until now, the income gap between the wealthy and regular people has skyrocketed. Most of the new money being generated in our economy is going into the pockets of the top 0.1% and none is going into the bottom 50%.
- terminalshort 1y agoThe actual numbers show it rising during Obama and being flat ever since https://fred.stlouisfed.org/series/WFRBST01134 https://fred.stlouisfed.org/series/WFRBST01134