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We don't have the capability or capacity to pay any of this down.
Congress didn't worry when they passed the 2017 Tax Reform which cost about the same, the difference is this was necessary so the economy wasn't destroyed.
People dont understand how helpful stimulus spending is amidst a crisis. There are literally a ton of economic papers out there discussing this.
What people ALSO truly dont seem to understand is that in the good times we need to pay that down. A major criticism of mine for past presidents such as Obamas last few years, and Trumps first few is that neither did that.
What you fail to understand is they SCALE of this. This amounts to over $22,000 of ADDITIONAL DEBT for each family of four. The scale of this bill is such that it will never be possible to pay this back in "good times". On top of that many of these program continue even in good times. They make it easy to live off the government instead of being a productive member of society. Even in "good times" we will still be paying for all these programs. That leaves even less money available to pay down this reckless spending. Do you actually think in "good times" people will vote for the candidates who will pass massive tax increases to pay down this mountain of debt?
Congress didn't worry when they passed the 2017 Tax Reform which cost about the same, the difference is this was necessary so the economy wasn't destroyed.
To that point we were ALREADY in trouble prior to the COVID dump.
If Americans cared about the economy or national debt, they wouldn't have given Democrats total control of all branches.
The Democrats are attempting to create a permanent one-party group dictatorship where so many people depend on the democrat programs they cannot vote them out of office.
. Do you actually think in "good times" people will vote for the candidates who will pass massive tax increases to pay down this mountain of debt?
No they won't vote for any candidate that supports tax increases. But no matter who is in the driver's seat at some point you've got to turn the vehicle around or create more asphalt to avoid flying off a fiscal cliff.
But the question is when do we run out of gas or asphalt.
The problem is nobody knows when creative accounting no longer works. The numbers already don't add up. So do we just keep adding zeroes ?
To that point we were ALREADY in trouble prior to the COVID dump.
The purpose of lowering taxes is to make the tax rates in the United States comparable to other countries so companies will invest and create jobs HERE. That ultimately increase the tax base so more taxes are collected. That is a growth policy. The democrats create programs which dis-incentivize people from working and the eventual higher taxes cause companies to invest and create jobs IN OTHER COUNTRIES. Both of these effects contract the economy.
Americans increasingly think that it's possible to get something for nothing, hence widespread support for more "stimulus." If only they knew how incredibly harmful the "stimulus" is, and just how grotesquely it warps the entire economy. And it will all have to be paid back, in full, with interest, at loan shark rates. People hundreds of years into the future will be paying off our spending spree. But of course, the infantilized masses of people don't think that far into the future- it's all about what benefits me and makes me feel good right now. Americans just want their pumped up stocks, their government welfare and handouts, they want to keep getting fatter and fatter and be able to give in to all their impulses, cravings, and addictions.
We just passed a $1.9T stimulus. We don't have any of that money, it will all need to be borrowed and printed. Furthermore, the "stimulus" isn't actually a stimulus. It's really a sedative for the real economy. When you print and hand away massive amounts of funny money without the work, energy, and productivity to back it up, all that can happen is that you end up looking like Venezuela.
We still haven't even felt the full effects of the last QE binge after the 08' crisis, but we will. Last time, it seemed that we were able to "get away" with it. This time, we'll just overdose on stimulus, and end up killing the dollar and with it the entire global financial system.
Give me your check then since it's "harmful".
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