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0 pointsumvi11mo ago0 comments

Maybe the federal government needs a reset/dismantling/pruning/whatever you want to call it. With any "normal" president (including Kamala Harris), the federal government would likely be expanding spending and gov't programs right now even though the debt is so huge that interest payments on the debt now eclipse the defense budget, which itself exceeds the next 9 defense budgets in the world combined.

0 comments

xorcist11mo ago

No need for the scare quotes. The current federal budget is expanding, under the current administration.

Had they the slighest wish to shrink the debt, or at least not expand it further, tax cuts would have been out of the question until the budget allows for it.

eru11mo ago

Well, they are trying to enacted the biggest tax rise in history.

tomrod11mo ago

Current budget is set to expand deficit spending due to tax cuts and certain spending increases, in spite of project cuts to social safety nets and entitlements.

ImPostingOnHN11mo ago

> With any "normal" president (including Kamala Harris), the federal government would likely be expanding spending and gov't programs right now

Perhaps, and in such a case, the american economy would not be cratering like it has been lately, and americans would be suffering less, and america would be stronger on the international stage. In fact, all things considered, more spending would have been better for america than the current state of things.

> the debt is so huge that interest payments on the debt now eclipse the defense budget

There's always taxing the rich, but the plan by the american ruling elites in the republican party currently seems to be to increase the debt sky-high via tax cuts for rich americans, only partially paid for via increased taxes on non-rich americans, with the rest piled onto the american debt burden.

umviOP11mo ago

You can't just spend your troubles away forever. It might temporarily alleviate things, but long term it will collapse the entire system. At some point there need to be painful austerity measures - budget cuts, increased taxes, and the like. It's unpopular to do painful things, but it's necessary for survival.

ImPostingOnHN11mo ago

You can't just cut your troubles away: Poor educational system; low education; high income inequality; low real income growth rate; high rates of drug addition; low social mobility; housing shortages; poor public transit; decreased access to healthy food; private equity buying everything and jacking up the prices; etc.

In fact, most solutions to troubles require spending time and/or money. Very few are resolved by "do less, and do it worse".

> At some point there need to be painful austerity measures - budget cuts, increased taxes, and the like.

Perhaps: america can start with increasing taxes on the rich, instead of decreasing taxes on the rich and increasing taxes on the non-rich. That should get america more money and hurt fewer people.

tinyplanets11mo ago

But you also can't just cut taxes forever. The tax cuts being proposed by the current Republican budget are projected to add even more to the deficit.

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mattfca11mo ago

you have a fundamental misunderstanding of govermental debt and the US.the US CAN 100%, its not a guess its a fact, spend away their troubles forever.

learn how the global economy is, understand what fiat is, find out what your missing. (first hint, money is a construct - and follow the tbills)

you know what does make the US have to do "painful austerity measures - budget cuts, increased taxes, and the like. It's unpopular to do painful things, but it's necessary for survival" ??

Watch everything the current administration does because they dont understand modern economics and you'll see.

1 more reply

spwa411mo ago

Trump is looking to increase spending. Musk's future is dependent on increasing spending. Where do you get the idea they're cutting the budget? They're cutting normal people ...

j / k navigate · click thread line to collapse

0 comments

xorcist11mo ago

No need for the scare quotes. The current federal budget is expanding, under the current administration.

Had they the slighest wish to shrink the debt, or at least not expand it further, tax cuts would have been out of the question until the budget allows for it.

eru11mo ago

Well, they are trying to enacted the biggest tax rise in history.

tomrod11mo ago

Current budget is set to expand deficit spending due to tax cuts and certain spending increases, in spite of project cuts to social safety nets and entitlements.

ImPostingOnHN11mo ago

> With any "normal" president (including Kamala Harris), the federal government would likely be expanding spending and gov't programs right now

> the debt is so huge that interest payments on the debt now eclipse the defense budget

umviOP11mo ago

ImPostingOnHN11mo ago

In fact, most solutions to troubles require spending time and/or money. Very few are resolved by "do less, and do it worse".

> At some point there need to be painful austerity measures - budget cuts, increased taxes, and the like.

Perhaps: america can start with increasing taxes on the rich, instead of decreasing taxes on the rich and increasing taxes on the non-rich. That should get america more money and hurt fewer people.

tinyplanets11mo ago

But you also can't just cut taxes forever. The tax cuts being proposed by the current Republican budget are projected to add even more to the deficit.

1 more reply

mattfca11mo ago

you have a fundamental misunderstanding of govermental debt and the US.the US CAN 100%, its not a guess its a fact, spend away their troubles forever.

learn how the global economy is, understand what fiat is, find out what your missing. (first hint, money is a construct - and follow the tbills)

you know what does make the US have to do "painful austerity measures - budget cuts, increased taxes, and the like. It's unpopular to do painful things, but it's necessary for survival" ??

Watch everything the current administration does because they dont understand modern economics and you'll see.

1 more reply

spwa411mo ago

Trump is looking to increase spending. Musk's future is dependent on increasing spending. Where do you get the idea they're cutting the budget? They're cutting normal people ...

j / k navigate · click thread line to collapse