Interesting way to think about the issue with the national debt



https://v.redd.it/q6vn384j7vce1

by seenkseeb

8 comments

  2. Why can’t the gov’t hire some smart math people and figure out the percentage of federal spending of every federal program and service provided and autmatically allocate the monetary amount for each department and service based on that percentage of federal income each year? The budget would always be balanced as all spending would be a percentage of income. Sure they would want to put aside a percentage for mad money which would likely be higher than many country’s entire GDP, but there would be no deficit spending unless the gov’t chose to.

  3. The world needs smarter people in charge. Please always promote the smart people over yourself or your friends.

  4. Or your paying for it in the way that some people are not being taxed enough. He conveniently forgets this position.

  5. Federal Government spending by terms, for the last 5 U.S. Presidents:

    1. Joe Biden
    • 1st Term (2021–Now): $14.5 trillion.

    2. Donald Trump
    • 1st Term (2017–2021): $20.8 trillion.

    3. Barack Obama
    • 1st Term (2009–2013): $15.2 trillion.
    • 2nd Term (2013–2017): $17.2 trillion.

    4. George W. Bush
    • 1st Term (2001–2005): $8.9 trillion.
    • 2nd Term (2005–2009): $11.3 trillion.

    5. Bill Clinton
    • 1st Term (1993–1997): $6.8 trillion.
    • 2nd Term (1997–2001): $6.7 trillion.

  6. People with the same mindset have been predicting the fall of China next year for the past three decades

  7. So just assume all government spending is equally inflationary or deflationary, or pro growth or contractionary? hmmmm. Sounds like that priori reasoning Austrian economists are so fond of.

    We are the global reserve currency and a primary destination for global capital flows. You can’t take the fed’s balance sheet out of the global context. Viewing it like a house hold budget is nearly meaningless.

  8. This is such unmitigated bullshit. The real way to think about it is WHO IS PAYING FOR IT AND WHO IS NOT. The answer is obvious- the rapidly declining middle class and the poor are paying for it and the wealthy and obscenely wealthy are not. In fact, percentage-wise they pay much lower taxes than the guy asking you if you want fries with that. Raise taxes on this latter group to the levels of the rest of us, and we balance the budget without cutting government spending on infrastructure and other services that make life better for all. So fucking tired of having to make this obvious argument.

Comments are closed.