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Well again, maybe some people here at CD concerned about debt would like to let us know what we will monetize since all our money these days is monetized debt and bank credit.
The few people that actually do understand, and congratulations for not being complete morons babbling on the internet, might suggest gold and silver but then there are three problems. Who made da guberment god to monetize a commodity? Why can't I stock up on Indium and have that monetized? When da guberment decides to collect a tax , it will de facto monetize it. Lastly, what happens when we go on a commodity standard and our enemies don't, and rapidly build a military with fiat currency.?.....ya know like before.
CBO expects that automatic stabilizers will continue to add significantly to the budget deficit and to support economic activity in 2013 and 2014 but that their effects on the budget and the economy will decline significantly thereafter.
About a year ago, President Trump pledged to eliminate the national debt "over a period of eight years." But for the first time in history, the national debt surpassed $21 trillion this week, according to the U.S. Treasury.
When Mr. Trump took office on Jan. 20, 2017, the national debt was $19.9 trillion, according to U.S. Treasury data. Since then, the GOP-led Congress has passed a $1.5 trillion tax cut bill and a two-year spending deal which, together, are expected to drive the deficit and debt further upward. The Committee for a Responsible Federal Budget estimates annual deficits could top $2.1 trillion per year in the next decade, which would send the national debt soaring even higher. https://www.cbsnews.com/news/under-d...rst-time-ever/
That's what a NO-IQ~ F-A-I-L-E-D Businessman can do to a country's economy when he is allowed to rule unchecked... like a DESPOT!
For once I agree with you - the run up of the debt by Trump, and by Obama before him, and by "W" before him, and on and on, is a disgrace.
There is no excuse for the deficit to go up during good economic times. The tax cuts for rich and increased military spending will be paid for by future generations. It’s already bad enough that they will pay for climate change too.
I think this is the 4th time in the last few days I've pointed out this false claim...
It's not "tax cuts for the rich." It's tax cuts for over 80% of taxpayers.
Show me, in the chart below, how the tax cuts are only for "the rich."
There is no excuse for the deficit to go up during good economic times. The tax cuts for rich and increased military spending will be paid for by future generations. It’s already bad enough that they will pay for climate change too.
LMAO. The next time the Boomers are concerned with how they are screwing future generations will be the first time.
I think this is the 4th time in the last few days I've pointed out this false claim...
It's not "tax cuts for the rich." It's tax cuts for over 80% of taxpayers.
Show me, in the chart below, how the tax cuts are only for "the rich."
If I save a whopping $21 a year. And multi millionaires save 100's of thousands...This tax cut was for them. Everyone knows it, you really arent providing any convincing evidence that would make anyone change their mind.
I think this is the 4th time in the last few days I've pointed out this false claim...
It's not "tax cuts for the rich." It's tax cuts for over 80% of taxpayers.
Show me, in the chart below, how the tax cuts are only for "the rich."
Given the amounts the top 1% will save compared to the middle class, you’d be hard press to buy any of that foolishness. The GOP all but admitted that this was a gift to the donor class when pushing its passage last December.
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