@pluralistic you should frame this for when we have to cut all the social programs because every penny of your tax dollars are going to some banker on Wall Street.
Pretty sure it'll be happening within the next 10 years. Remember how morally outraged you were at not pushing for unlimited deficit spending.
Pretty sure it'll be happening within the next 10 years. Remember how morally outraged you were at not pushing for unlimited deficit spending.
- replies
- 1
- announces
- 0
- likes
- 0
@pluralistic and the idea that both parties are pushing for balance to budgets is so offensively wrong, oh my God.
You don't get an extra $20 trillion dollars in debt by pushing for balanced budgets. You increase your federal debt by effectively 100% GDP in 12 years when you have two parties that don't really care about balanced budgets.
We've gotten away with it for now because interest rates are so low that you don't realize the consequences yet, but if interest rates even go back to where they were 12 years ago, major cuts to social programs will need to take place. You could potentially borrow on top of that, but eventually interest rates rise even more because everybody can see what's going to happen next.
You don't get an extra $20 trillion dollars in debt by pushing for balanced budgets. You increase your federal debt by effectively 100% GDP in 12 years when you have two parties that don't really care about balanced budgets.
We've gotten away with it for now because interest rates are so low that you don't realize the consequences yet, but if interest rates even go back to where they were 12 years ago, major cuts to social programs will need to take place. You could potentially borrow on top of that, but eventually interest rates rise even more because everybody can see what's going to happen next.