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Tax dollars really don't pay for things in the US Federal Government. Deficit spending leading to an ever rising debt is the source of continued spending. Whe
by testfoobar 5mo ago
Tax dollars really don't pay for things in the US Federal Government.
Deficit spending leading to an ever rising debt is the source of continued spending. When Debt/GDP grows, we're spending ever more money that we don't have.
Total Debt:
https://fred.stlouisfed.org/series/GFDEBTN https://fred.stlouisfed.org/series/GFDEBTN
Total Debt/GDP
https://fred.stlouisfed.org/series/GFDEGDQ188S https://fred.stlouisfed.org/series/GFDEGDQ188S
- m348e912 5mo agoYou're not wrong, but exorbitant deficit spending has its own dire consequences. (eventually) Not that I am telling you anything you don't already know.
- zzleeper 5mo agoWhat if we just inflate away the debt? Sure, ppl will hate dealing with very high inflation for a few years, and pensioners and whoever buys those trillions of debt will get screwed, but besides that we should be ok? /s
- dnnddidiej 5mo agoThen why have tax at all? Answer to that is indeed this is tax expenditure. Although rounding error compared to the war.