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You really aren't worried about that. If you were you would have had a heart attack by now about the 10T Obama laid on us.
Actually I understand that the time to add to our debt is during economic crisis's. Thats basic economics. I also know the time to pay that debt down is right now.
I also criticized Obama for not working to lower the deficit even more in his final years. Any more ad hominin attacks?
And how will it be paid for? By slashing your Medicaid, Medicare and Social Security.
You keep avoiding the simple fact that regardless of the tax rates, the federal revenue is ~17.3% of GDP and annual federal spending is ~19.5%. Year in, year out, we run about 2.2% of GDP as budget deficit.
Since it's inception, Mediwelfare has spent less YOY exactly once - 1998.
Since its inception, Medcaid has spent less YOY exactly once - 2006.
Point being, deficits happen every year which results in the debt increasing every year, yet Mediwelfare hardly ever (once for each of the two programs, ever) gets "cut."
Ever single time a proposed cut to the federal income tax happens, these same doom and gloom predictions about Mediwelfare and Socialist Security get bandied about. You do realize that these two programs have their own tax, correct? Nothing is happening to either of the payroll taxes, except proposals that they should be/are going up at some point to retain solvency.
I just crack up at the hysterics and hyperbole about "slashing" entitlements that have almost never done anything but get bigger and bigger, to the point that they now represent half of all federal spending. Just three programs bundled under two taxes. HALF OF ALL SPENDING.
You really aren't worried about that. If you were you would have had a heart attack by now about the 10T Obama laid on us.
The debt from the two wars, Bush tax cuts and Wall Street crash is not an argument for increasing the debt at a time of full employment! We need to REDUCE the debt in these times, not increase it in order to force slashing Medicare and Social Security to the bone during the next recession.
You keep avoiding the simple fact that regardless of the tax rates, the federal revenue is ~17.3% of GDP and annual federal spending is ~19.5%. Year in, year out, we run about 2.2% of GDP as budget deficit.
Since it's inception, Mediwelfare has spent less YOY exactly once - 1998.
Since its inception, Medcaid has spent less YOY exactly once - 2006.
Point being, deficits happen every year which results in the debt increasing every year, yet Mediwelfare hardly ever (once for each of the two programs, ever) gets "cut."
Ever single time a proposed cut to the federal income tax happens, these same doom and gloom predictions about Mediwelfare and Socialist Security get bandied about. You do realize that these two programs have their own tax, correct? Nothing is happening to either of the payroll taxes, except proposals that they should be/are going up at some point to retain solvency.
I just crack up at the hysterics and hyperbole about "slashing" entitlements that have almost never done anything but get bigger and bigger, to the point that they now represent half of all federal spending. Just three programs bundled under two taxes. HALF OF ALL SPENDING.
2.2% budget deficit does not grow the debt to GDP ratio if nominal GDP growth is higher than 2.2%. Its fine to run budget deficits when there is wiggle room for it. Thats not the case now. We should REDUCE the debt-to-GDP, not increase it. Medicare and SS will be slashed, make no question about it. Perhaps you will see a retirement age of 72 until you get SS?
And Obama was lowering the deficit almost every year. Trump is raising it.
If we are giving Obama credit for deficits, he ran the four highest annual deficits (as % of GDP) since WW2 in hi firs four years in office, and his "lowering the deficit almost every year" last 4 years, in constant 2009 dollars, is third only to WW2 and his own first four year record for the highest average deficit in constant dollars in US history.
Sure you want to hang the deficit on Obama and not Congress? 2009-2016 were awful by almost any measure of fiscal policy. You're better off, being a Democrat partisan and all, to let the House and Senate hold the bag on that one, although the Dem House under Pelosi represents the worst budget deficit management in the history of the US House, but she only really had control of the whole thing for like 18 months when the Senate was filibuster proof for the Dems (2009-2010). But wouldn't you rather hang that albatross 'round her neck and Reid's instead of He Who Must Never Be Spoken Ill Of?
2.2% budget deficit does not grow the debt to GDP ratio if nominal GDP growth is higher than 2.2%. Its fine to run budget deficits when there is wiggle room for it. Thats not the case now. We should REDUCE the debt-to-GDP, not increase it. Medicare and SS will be slashed, make no question about it. Perhaps you will see a retirement age of 72 until you get SS?
1) You're wrong. Mediwelfare and Socialist Security are not getting slashed. They will doubtful even see a slightly less steep slope in their growth curves. Trump loves entitlements, and so does every Republican member of the House and Senate, event the ones who like to play at being quasi-libertarians. Cuts to either is political suicide, and there's no way they'll do it. Not that self-serving bunch of criminals.
2) I've already planned to work until I am in my 70s. My salary is one hell of a lot more than Socialist Security will afford me, and my healthcare benefits are better and cheaper than Mediwelfare. Plus, my job involves sitting in front of computer. This is a job I can do pretty much until my marbles get lost or they drop me in the ground, whichever comes first. Your appeal to emotion is wasted on me. I like work and I like the money it pays me even more.
I says we save over 6 thousand I don't believe it.
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