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I'm confused. The US government spends around $3.8 Trillion and takes in around $3.1 Trillion (2014 estimates). So it seems like it could pay 85% of its bills w

by spikels 13y ago

I'm confused. The US government spends around $3.8 Trillion and takes in around $3.1 Trillion (2014 estimates). So it seems like it could pay 85% of its bills without borrowing. Wouldn't they be able to pay the less than $200 Billion annual cost of military personnel out of the $3.1 Trillion?

FireBeyond 13y ago
Nothing to be confused about, if you realize the underlying rationale - which is not that they can’t pay the military, but that if they don’t, or threaten not to, that can be used as leverage for whatever else they may want.