Federal gov deficit = private sector savings.
U.S. Debt Hits $40T as America's Borrowing Binge Continues
11–20 of 227 posts
Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues
#12By the time Trump leaves office, the whole federal government will be completely trashed, up to and including the East Wing of the White House being torn down to a hole in the ground. I've never felt so alienated from the leaders of my industry, from my politicians, and from my fellow citizens. Ya'll should have known better. It is the information age, all ignorance is willful ignorance.
This debt problem was long before Trump and this is why the US dollar is being printed straight to $0, until it loses its reserve currency status.
It really already did lose its reserve status, in a manner of speaking. There isn't ever going to be a gold standard again (even if there is, would the actual gold have the sort of real life uses it had when the gold standard was around? Not like people fill teeth with it anymore unless you are some sort of thug).
Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues
#13By the time Trump leaves office, the whole federal government will be completely trashed, up to and including the East Wing of the White House being torn down to a hole in the ground. I've never felt so alienated from the leaders of my industry, from my politicians, and from my fellow citizens. Ya'll should have known better. It is the information age, all ignorance is willful ignorance.
I don't understand how US Republicans talk about fiscal conservation, yet allow rampant profligacy. They must have a different agenda than the one they speak of.
When they engage in financial conservation it's cover for destroying programs they don't like. The fact that they are cheering on yet another incredibly stupid, expensive, and pointless war proves that they are not "fiscal conservatives."
Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues
#14By the time Trump leaves office, the whole federal government will be completely trashed, up to and including the East Wing of the White House being torn down to a hole in the ground. I've never felt so alienated from the leaders of my industry, from my politicians, and from my fellow citizens. Ya'll should have known better. It is the information age, all ignorance is willful ignorance.
The East Wing argument is such a weird hill to die on. Even Obama era staffers admitted it was embarrassing to welcome foreign dignitaries to a muddy patch of grass rather than a fit for purpose room.
It's also majority private sector funded, and numerous admins have made substantial changes to the White House.
Bush 2 and Obama made substantial renovations to the White House, as did Clinton.
Trump has a massive and growing pile of rightful criticism and you're focusing on a project which costs 1/1,000th the cost of the Iran War and Obama staffers admit is necessary? Priorities?
Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues
#15By the time Trump leaves office, the whole federal government will be completely trashed, up to and including the East Wing of the White House being torn down to a hole in the ground. I've never felt so alienated from the leaders of my industry, from my politicians, and from my fellow citizens. Ya'll should have known better. It is the information age, all ignorance is willful ignorance.
The challenge now is that we have to have a vision for what we want to build.
Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues
#16Unlimited spending will never cease as both parties are heavily incentivized to spend, pork barrel and defer desperately needed reform.
Social Security hurtles towards a cliff while it has a 'fix everything easily' button because no large scale reform is possible until it's the very last minute or far too late, then a sloppy and terrible solution is rammed through full of more pork.
Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues
#17By the time Trump leaves office, the whole federal government will be completely trashed, up to and including the East Wing of the White House being torn down to a hole in the ground. I've never felt so alienated from the leaders of my industry, from my politicians, and from my fellow citizens. Ya'll should have known better. It is the information age, all ignorance is willful ignorance.
The East Wing argument is such a weird hill to die on. Even Obama era staffers admitted it was embarrassing to welcome foreign dignitaries to a muddy patch of grass rather than a fit for purpose room. It's also majority private sector funded, and numerous admins have made substantial changes to the White House. Bush 2 and Obama made substantial renovations to the White House, as did Clinton. Trump has a massive and g…
The major issue with the East Wing was how it was done, not that it was done ("it": renovations in general, possibly even tear down and full rebuild). Also the costs have been ballooning and the "no taxpayer funding" claim turned out to be a lie.
Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues
#18By the time Trump leaves office, the whole federal government will be completely trashed, up to and including the East Wing of the White House being torn down to a hole in the ground. I've never felt so alienated from the leaders of my industry, from my politicians, and from my fellow citizens. Ya'll should have known better. It is the information age, all ignorance is willful ignorance.
I don't understand how US Republicans talk about fiscal conservation, yet allow rampant profligacy. They must have a different agenda than the one they speak of.
What they always really mean is tax cuts for those who need it least
Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues
#19Unlimited spending will never cease as both parties are heavily incentivized to spend, pork barrel and defer desperately needed reform. Social Security hurtles towards a cliff while it has a 'fix everything easily' button because no large scale reform is possible until it's the very last minute or far too late, then a sloppy and terrible solution is rammed through full of more pork.
This is correct yet also obscures an important point.
The popular narrative is that one party is the party of fiscal responsibility and the other is fiscally wasteful. But the data don't really bear that out, and it's arguable that the opposite may be true.
I'd contend that yes they both need to be incentivized as such, but also a necessary but not sufficient step is to halt the narrative that one party is the one who cuts the waste.
Re: U.S. Debt Hits $40T as America's Borrowing Binge Continues
#20By the time Trump leaves office, the whole federal government will be completely trashed, up to and including the East Wing of the White House being torn down to a hole in the ground. I've never felt so alienated from the leaders of my industry, from my politicians, and from my fellow citizens. Ya'll should have known better. It is the information age, all ignorance is willful ignorance.
This started long before Trump. Ironically things quite stable under Clinton. 2nd term Bush not so great, 2nd term Obama not great, Trump post covid not great, Biden was terrible, Trump 2.0 terrible. The only real solution is to enforce the actual debt ceiling, the begin lowering it a few hundred billion each year, destroying things we don't need. Require all new spending be funded by the 2.5x destruction of existing…
I loathed the actions of DOGE but believe that "government efficiency" (yeah, lily oxymoronic) should be baked into everything the government does, most importantly, even the programs that one supports.
That has been one of many failures of the Dems to both pursue and socialize.