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U.S. debt-to-GDP ratio reaches 123%

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Re: U.S. debt-to-GDP ratio reaches 123%

#11

Post by faefox »

deadbabe wrote: post #5

This still isn’t too bad compared to other countries, also, most of the AI industry profits are still yet to be fully realized.

AI industry profits have and will continue to be privatized while the enormous costs of job displacement (to name just one of many negative externalities) will be gleefully socialized. We've seen this film before.

Re: U.S. debt-to-GDP ratio reaches 123%

#14

Post by notfromhere »

joinjune wrote: post #7
juujian wrote: post #3

Upsetting how we are reaching these lows while the administration is accusing everyone else of wasting taxpayer money except for themselves. At least under previous administrations you would get something for your money, like science funding and healthcare for the needy, not just bombing runs and posturing.

Both can be true. The previous administration bailed out the unfunded pension funds of cities and state employees when they did Covid-19 bailouts despite it having nothing to do with Covid-19 and without requiring these local governments to properly fund these pensions moving forward. They bailed these pension programs out many times more than their financial support for restaurants they forced closed. Basically, Ame…

The problem is that half the political system thinks you can cut taxes and grow revenues.

Which is an intentional strategy to repeal social programs that they’d never get the votes to do so via legislation

Re: U.S. debt-to-GDP ratio reaches 123%

#19

Post by epolanski »

The entire world is super leveraged at levels generally seen during major recessions or wars.

And that's excluding the huge amount of multi tiered private credit.

While this is not an indication of anything bad on its own it definitely creates the conditions for cataclysms.

It's like being on a very very dry hay field, it does not mean that you're bound to die on fire, it just means that the risks of a fire being extremely destructive are high.

Re: U.S. debt-to-GDP ratio reaches 123%

#20

Post by throwaway894345 »

joinjune wrote: post #7
juujian wrote: post #3

Upsetting how we are reaching these lows while the administration is accusing everyone else of wasting taxpayer money except for themselves. At least under previous administrations you would get something for your money, like science funding and healthcare for the needy, not just bombing runs and posturing.

Both can be true. The previous administration bailed out the unfunded pension funds of cities and state employees when they did Covid-19 bailouts despite it having nothing to do with Covid-19 and without requiring these local governments to properly fund these pensions moving forward. They bailed these pension programs out many times more than their financial support for restaurants they forced closed. Basically, Ame…

There are more than two numbers, so we don't have to force this weird "it's either 0% waste or 100% waste" dichotomy. No one is claiming the Biden admin didn't waste a cent, the claim is that the Trump administration is wasting _orders of magnitude_ more money than the Biden administration.
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