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Old 09-21-2015, 12:05 AM
 
Location: Hamilton, New Zeland
100 posts, read 67,170 times
Reputation: 111

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Correct me with i'm wrong but the US is in a lot of debit, the most since WWII or something? Why then is it that they can't produce balanced or almost balanced budgets like other countries that have similar tax rates, far better and more extensive welfare systems, government funded health care, low unemployment and similar living standards? I thought military spending may have been a factor, but as % of GDP wise it isn't that significant I thought it's probably not...So what gives, surely with what I've outlined they would be running massive surpluses.
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Old 09-21-2015, 12:08 AM
 
256 posts, read 294,315 times
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Because that's how the elite make their money. It's on purpose.
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Old 09-21-2015, 02:24 AM
 
1,162 posts, read 1,271,494 times
Reputation: 1629
Quote:
Originally Posted by Raysuxx View Post
Correct me with i'm wrong but the US is in a lot of debit, the most since WWII or somethings w? Why then is it that they can't produce balanced or almost balanced budgets like other countries that have similar tax rates, far better and more extensive welfare systems, government funded health care, low unemployment and similar living standards? I thought military spending may have been a factor, but as % of GDP wise it isn't that significant I thought it's probably not...So what gives, surely with what I've outlined they would be running massive surpluses.
The notion that other countries are all glitter and gold is a farce.
Assuming
At the end of the day a bunch of countries can do somethings better than the USA, but not everything. But in comparisons people take a stat from country A, another from B, and a bunch from C-Z and slap them together to say hey, look theses guys are doing A-Z. But they aren't.

You can't come up with many nations that don't run a deficit.
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Old 09-21-2015, 03:22 AM
 
Location: Hamilton, New Zeland
100 posts, read 67,170 times
Reputation: 111
Quote:
Originally Posted by MDrenter223 View Post
The notion that other countries are all glitter and gold is a farce.
Assuming
At the end of the day a bunch of countries can do somethings better than the USA, but not everything. But in comparisons people take a stat from country A, another from B, and a bunch from C-Z and slap them together to say hey, look theses guys are doing A-Z. But they aren't.

You can't come up with many nations that don't run a deficit.
I'm not trying to have a go at the USA, just looking at the statistics from the OECD that show how much of a deficit the govt is running and wondering why it's so bad... Government deficit / surplus as a percentage of GDP - Economics: Key Tables from OECD - OECD iLibrary

And for the record in 2015 Japan is the only country in the OECD running a higher deficit!
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Old 09-21-2015, 03:36 AM
 
2,563 posts, read 2,600,696 times
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Our budget isn't balanced because the political process is broken. Way back when, Ronald Reagan convinced voters that tax cuts always brought in more money. People actually believed that and look where we are now. Nobody wants to pay taxes, but we all want government services. And because we have the world's reserve currency, we've been able to print more and more money with much of that money staying overseas. Hence, lower inflation than would otherwise be the case. It all works great until one day when the rest of the world wises up.

At this point, there's no going back. And if interest ratters rise much, then it's really game over. Just the interest on the national debt would eat up a big chunk of the tax receipts.
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Old 09-21-2015, 06:18 AM
 
Location: MD's Eastern Shore
2,253 posts, read 2,736,181 times
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One reason is we keep sending our money to other country's. Many which hate us. But still, it gets sent over because the A-holes in charge must think they need it more then us.
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Old 09-21-2015, 06:21 AM
 
2,262 posts, read 1,403,961 times
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Triffin Dilemma
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Old 09-21-2015, 07:33 AM
 
Location: New York Area
13,467 posts, read 5,247,534 times
Reputation: 10790
Quote:
Originally Posted by Raysuxx View Post
Correct me with i'm wrong but the US is in a lot of debit, the most since WWII or something? Why then is it that they can't produce balanced or almost balanced budgets like other countries that have similar tax rates, far better and more extensive welfare systems, government funded health care, low unemployment and similar living standards? I thought military spending may have been a factor, but as % of GDP wise it isn't that significant I thought it's probably not...So what gives, surely with what I've outlined they would be running massive surpluses.
Pretty hard to balance our budget when we have to carry the defense costs of just about every Western style democracy except, maybe, Australia and New Zealand.

These "other countries" with "similar tax rates, far better and more extensive welfare systems, government funded health care, low unemployment and similar living standards" afford all that since we defend them from their enemies, whether the former Soviet Union, Putin's Russia or Islamists.
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Old 09-21-2015, 07:43 AM
 
12,404 posts, read 9,233,027 times
Reputation: 8868
Quote:
Originally Posted by Raysuxx View Post
Correct me with i'm wrong but the US is in a lot of debit, the most since WWII or something? Why then is it that they can't produce balanced or almost balanced budgets like other countries that have similar tax rates, far better and more extensive welfare systems, government funded health care, low unemployment and similar living standards? I thought military spending may have been a factor, but as % of GDP wise it isn't that significant I thought it's probably not...So what gives, surely with what I've outlined they would be running massive surpluses.
Lack of political backbone and impulsive voting.

If a politician considers raising taxes, it is political suicide.

If a politician doesn't implement new programs, it is politically damaging.

If a politician wants to reform entitlements or raise retirement age, it gets a lot of backlash.

If a politician wants to shrink the defense budget, someone will cry "terrorist threat"

And don't forget that partisan gridlock has created a situation in which it is difficult to get anything done, never mind measures that many will perceive as hurting __________ . (fill in the blank - some suggestions will include veterans, children, seniors, homeowners, students, small business owners, single parents, minorities...)

and so on.
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Old 09-21-2015, 07:54 AM
 
17,645 posts, read 12,266,270 times
Reputation: 12883
What do you mean balance it's books? Do you want to see no debt? No deficit? What's your end game?
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