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> 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. Tha
by ceejayoz 11mo 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 11mo agoEconomists 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 11mo agoIt'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 11mo agoAre you telling us that the party of golden ballrooms... err.. fiscal responsibility is not actually being fiscally responsible?
- gjsman-1000 11mo agoYou 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 11mo agoThey 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 11mo agoClinton and Obama seem very different results to Reagan/BushI and BushII Odd that.
- ceejayoz 11mo agoThat’s pretty standard for economists.