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Well, the lowest recorded debt for the US was in 1980, which only made up 30 percent of the total GDP. Now, it's almost $10 trillion, about 68% of the GDP!! Add the unfunded Medicaid, Social Security, and similar conflicts, and you get a whopping $60 TRILLION!! That's the size of the world economy itself.
Bush cut taxes and then started a $5 billion/day war in Iraq. The tax cuts are fine in themselves, but when he started the war he should have either raised taxes or cut spending somewhere else.
Very simple answer: We like to have the government do all kinds of nice things for us, but we really don't want to pay for it. We elect people who will follow these wishes.
People usually get the government they deserve.
Quote:
"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the Public Treasury. From that moment on the majority always votes for the candidates promising the most benefits from the Public Treasury with a result that a democracy always collapses over loose fiscal policy always followed by dictatorship. The average age of the world's greatest civilizations has been 200 years."
Sir Alexander Fraser Tyler "Decline and Fall of the Athenian Republic"
War without tax increase - never happened before
We don't produce anything anymore so we have huge current account deficit from imports
Many people don't pay anywhere near their share of tax burden
No great society ever survived as a consumer society without producing goods. We currently have consumption as 70% of GDP.
The thought is completely true if you realize the "voters" are the corporate state that actually controls the government. The mass of the population has little to do with it. The real rulers run the government for their benefit with deficit spending and endless war. They make a profit off the loans and supplying the weapons. They also get their right to loot a foreign resource protected by other people’s kids lives while theirs squander the family fortune in great debauchery.
We are running deficits because the people with the assets would rather lend the government money and collect interest than loose the money to the tax collector without earning any interest or ever getting it back. If the general populace actually controlled the government we would have a truly progressive tax system and have the people that own the country pay for the operation.
Very simple answer: We like to have the government do all kinds of nice things for us, but we really don't want to pay for it. We elect people who will follow these wishes.
People usually get the government they deserve.
People do get the goverment they deserve in the end ,but everyone
doesn't ask for the never-ending wars,socialism for the rich,10K coffee
pots for the Air Force etc etc.
Also it is a partial defense of the people to note they neither made or
control the factors that make them perhaps the most brainwashed lot
in the world.
People do get the goverment they deserve in the end ,but everyone
doesn't ask for the never-ending wars,socialism for the rich,10K coffee
pots for the Air Force etc etc.
Also it is a partial defense of the people to note they neither made or
control the factors that make them perhaps the most brainwashed lot
in the world.
agree for the most part but fiat currency and socialism in general are the big problems
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