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I'm all for raising taxes is on the rich but the government is extremely fiscally irresponsible. The current interest on our national debt is greater than our

I'm all for raising taxes is on the rich but the government is extremely fiscally irresponsible. The current interest on our national debt is greater than our military spending. So if you increase taxes some people think it would just be throwing it into the money fire of Washington. There needs to be a lot of changes in D.C.: term limits in congress, citizens united needs to be repealed, erc etc

ceejayoz 10mo ago
> The current interest on our national debt is greater than our military spending. For quite some time, my mortgage interest was larger than my principal. That didn’t make it fiscally irresponsible.
- gjsman-1000 10mo ago
  Economists currently cannot find a solution, even with computer assistance, to our economy. https://www.marketplace.org/story/2025/07/14/how-our-debt-crashed-a-model-of-the-us-economy https://www.marketplace.org/story/2025/07/14/how-our-debt-cr...
  - iso1631 10mo ago
    It's crazy how in 1992 the US federal deficit was 4% of GDP During Clintons term this turned around to being a 2.3% surplus in 2000. Just 25 years ago the US was spending less than it was taking in tax. The Bush came in and that surplus became a 3.3% deficit by 2003, and then the GFC crashed it to 9.8%. While Obama was in, it crawled back from 9.8% deficit to 3.1% by 2016 - same value as before the GFC Since then it's gone back to 6% of GDP https://fred.stlouisfed.org/series/FYFSGDA188S https://fred.stlouisfed.org/series/FYFSGDA188S
    - cheema33 10mo ago
      Are you telling us that the party of golden ballrooms... err.. fiscal responsibility is not actually being fiscally responsible?
      - gjsman-1000 10mo ago
        You tell me. It's not like the other party is doing better. California is posting a $18 billion deficit next year, despite the highest taxes in the country, and despite record tax revenue from the AI boom.
        ceejayoz 10mo ago
        They had a $97.5 billion surplus in 2022. Seems like they're doing better overall than the Feds? Even the $18B ($450/capita) vs $1.8T ($5,300/capita) looks pretty small for a state that large.
        iso1631 10mo ago
        Clinton and Obama seem very different results to Reagan/BushI and BushII Odd that.
  - ceejayoz 10mo ago
    That’s pretty standard for economists.
dv_dt 10mo ago
The government is fiscally irresponsible fundamentally because the rich have successfully lobbied to prevent taxes from being collectible in sufficient quantity to balance the budget. Once you're at the point where the gap cannot politically be closed - "responsible" budgeting is just an exercise in posturing and lobbying exercises.
fzeroracer 10mo ago
When Trump did the whole tax cut thing in 2017, it massively blew up the national debt. This is because the rich got massive tax cuts. The government is fiscally irresponsible by design, because the government is ran by the plutocrats with all the incentives to give themselves more money at the cost of everyone else.
- pixl97 10mo ago
  Americans love thinking they are temporarily depressed millionaires and one day those tax cuts for the rich will matter for them.
deleted 10mo ago
[deleted]

ceejayoz 10mo ago

> The current interest on our national debt is greater than our military spending. For quite some time, my mortgage interest was larger than my principal. That didn’t make it fiscally irresponsible.

gjsman-1000 10mo ago
Economists currently cannot find a solution, even with computer assistance, to our economy. https://www.marketplace.org/story/2025/07/14/how-our-debt-crashed-a-model-of-the-us-economy https://www.marketplace.org/story/2025/07/14/how-our-debt-cr...
- iso1631 10mo ago
  It's crazy how in 1992 the US federal deficit was 4% of GDP During Clintons term this turned around to being a 2.3% surplus in 2000. Just 25 years ago the US was spending less than it was taking in tax. The Bush came in and that surplus became a 3.3% deficit by 2003, and then the GFC crashed it to 9.8%. While Obama was in, it crawled back from 9.8% deficit to 3.1% by 2016 - same value as before the GFC Since then it's gone back to 6% of GDP https://fred.stlouisfed.org/series/FYFSGDA188S https://fred.stlouisfed.org/series/FYFSGDA188S
  - cheema33 10mo ago
    Are you telling us that the party of golden ballrooms... err.. fiscal responsibility is not actually being fiscally responsible?
    - gjsman-1000 10mo ago
      You tell me. It's not like the other party is doing better. California is posting a $18 billion deficit next year, despite the highest taxes in the country, and despite record tax revenue from the AI boom.
      - ceejayoz 10mo ago
        They had a $97.5 billion surplus in 2022. Seems like they're doing better overall than the Feds? Even the $18B ($450/capita) vs $1.8T ($5,300/capita) looks pretty small for a state that large.
      - iso1631 10mo ago
        Clinton and Obama seem very different results to Reagan/BushI and BushII Odd that.
- ceejayoz 10mo ago
  That’s pretty standard for economists.

dv_dt 10mo ago

The government is fiscally irresponsible fundamentally because the rich have successfully lobbied to prevent taxes from being collectible in sufficient quantity to balance the budget. Once you're at the point where the gap cannot politically be closed - "responsible" budgeting is just an exercise in posturing and lobbying exercises.

fzeroracer 10mo ago

When Trump did the whole tax cut thing in 2017, it massively blew up the national debt. This is because the rich got massive tax cuts. The government is fiscally irresponsible by design, because the government is ran by the plutocrats with all the incentives to give themselves more money at the cost of everyone else.

pixl97 10mo ago
Americans love thinking they are temporarily depressed millionaires and one day those tax cuts for the rich will matter for them.

deleted 10mo ago

[deleted]