LOL giving workers a 5% raise is universal basic income. What the hell is wrong with some of yall? Seriously?! Are you seriously okay mentally?
It is basic math. If the government spends less money, then the deficit is reduced by the amount of the spending reduction. If the government spends zero money, then there cannot possibly be a deficit. You don't need examples, these are basic principles. If you really need an example though, the government reduced spending from 2021 to 2022 and the deficit decreased. Why would a libertarian support raising taxes?
You do realize the economic growth that this country has had is literally 100% due to running deficits. The austerity years of Obama had the worst wage gains and worst gdp growth. There's literally zero evidence of how deficits are bad when you are the global reserve currency by a country mile.
Stimmy checks was a 500 billion dollar one time injection. The government spends 780 billion dollars on salary. If their giving a 5.5% raise that counts for a 39 billion dollar cash infusion in the economy. 39 billion dollars when the government spends 6+ trillion dollars a year. I genuinely have no idea how we have grown adults like yourself with zero economic knowledge. Education system has failed us long time ago
again, to the extent that you've been unwilling / unable to provide any eg, ur just spinning meaningless rhetoric. all that spending for Bidenomics came in 2022; so i don't think spending was cut this rhetorical question suggests that you don't a leg to stand on
Absolutely incorrect. Most GDP growth takes place in the private sector. Government spending is a much smaller piece of the pie. I provided an example, which you literally quoted in your next line. I was using the government's own numbers from the treasury department for fiscal years 2021 and 2022. Federal Spending | U.S. Treasury Fiscal Data 2021 - 7.38 trillion 2022 - 6.27 trillion National Deficit | U.S. Treasury Fiscal Data 2021 - 2.77 trillion 2022 - 1.38 trillion The government spent 1.11 trillion dollars less and the deficit decreased by 1.39 trillion dollars. Incorrect, it shows @astros123 doesn't have even a basic understanding of libertarianism.
Hahahahahah can you tell me how many battery plants we had in this nation before Biden? Solar panel manufacturing? Magnet facilities? Critical minerals processing? <3mm CHIP manufacturer plants? All of our critical supply chains are onshoring at a rapid pace because of IRA and biden. I can go on and on about how the private sector has ****ing failed this country. The idea we can sit on our hands and expect the private sector to Bail us out is effin insane. The idea that you don't grasp that there's alot of factors that go into deficit blows my mind. Tax collection, interest rates, trade surplus, etc. Again the 2010s was the worst economic decade for usa in terms of growth and productivity. We literally tried the Austerity angle @StupidMoniker it was called the Obama admin. Obama was a failure
Why would I care what specific industries are moving in or out of the country? Especially if they are only moving in because I am paying them to do it? I would prefer to not pay them and they can manufacture batteries and solar panels in Taiwan or Vietnam and sell them here cheaper. The private sector has made this country the most powerful in the history of the world. What makes you think I don't grasp that the deficit is a combination of many factors? Interest rates don't technically affect the deficit, they affect how costly the deficit is (how much money has to be paid out on treasury notes). At bottom though, the deficit is simply the difference between revenue and spending, when spending is higher than revenue (when spending is lower, it is surplus). If you increase revenue or decrease spending, it lowers the deficit. I would say the 1930s was the worst economic decade for USA in terms of growth and productivity, or the 1860s. For me the 2010s was my best decade economically.
Such a weird take. Do you not love America? Globalization made manufacturing in the country take a huge hit which caused a decline in our middle class since manufacturing jobs were a lot more scarce. Private corporations don't care about people, they care about making money. Americans getting stuff for cheaper means good paying jobs are leaving this country and being replaced with lower paying jobs. I would think the rust belt states are a perfect case study of how globalization ****ed us over all for private corporations to get richer while Americans got more poor. This Libertarian utopia you'd like to be part of would really **** us over.
You know the *only* thing libertarians care about is not paying taxes. They could care less what happens with the nation.
once the world inevitably moves to a bitcoin standard and the money printer is shut off, the libertarian utopia will be realized, whether you want it or not
Not particularly. I live here because I was born here. I have lived in London when I did study abroad, and it was roughly equivalent. There are some things I like more here, some there. I'm sure if I lived in Australia, I would have similar feelings. I care about doing work that I care about, being paid accordingly, and keeping as much of the money I am paid as possible to use as I see fit. I couldn't care less whether or not there is a solar panel company in Cleveland instead of Ho Chi Minh City, especially if I both end up paying more for solar panels and I have money taken from me and given to the Cleveland company to make solar panels. Globalization was great for everyone except those individuals whose jobs were shipped out. Everyone else gets the same products for lower cost.
related Mayor Adams announces cuts as high as 15% for all NYC agencies amid ballooning migrant costs https://www.nydailynews.com/2023/09...l-nyc-agencies-amid-ballooning-migrant-costs/ excerpt: Mayor Adams announced Saturday there would be cuts as high as 15% to all city agencies by next spring — including NYPD and health department — in response to the costly migrant crisis, which could further impact the delivery of city services. The mayor made a surprise speech over the weekend telling New Yorkers that the lack of substantial support from the federal and state government regarding the crisis — at a time when COVID aid is drying up — has forced the city to impose austerity cuts. “We are in the middle of a humanitarian crisis involving asylum seekers, a crisis that will cost our city $12 billion over three fiscal years,” Adams said. “While our compassion is limitless our resources are not.” Those cuts, the administration said, intend to “minimize disruption to programs and services, and there will not be layoffs,” according to a press release on the announcement. The current budget stands at $107 billion. The cuts must be submitted ahead of the city’s budget update in November. If the city doesn’t get more federal help between now and January, Adams warned that there could be an additional 5% cut in January and another 5% in April. Adams also intends to impose a 5% cut in the following four years. City agencies could stave off those cuts if more federal and state aide comes through, according to Adams. Adams’ announcement comes as the city continues to take in thousands of migrants mostly entering from the U.S.-Mexico border. To date, there have been somewhere around 110,000 migrants arriving in New York City. An estimated 60,000 migrants are currently under the city’s care, according to the government figures. more at the link
when you lose the Washington Post . . . https://www.washingtonpost.com/opinions/2023/09/09/federal-debt-deficit-chart/ Opinion : These charts should alarm Congress and Biden By the Editorial Board September 9, 2023 at 6:30 a.m. EDT In 2023 — with the economy humming along — the federal deficit is spiking to $2 trillion, according to calculations from the Committee for a Responsible Federal Budget, a watchdog group. That’s double last year’s deficit. The deficit has been this high and surged this fast only during global crises such as World War II or the covid-19 pandemic. This isn’t supposed to happen in a good economic year, in which tax revenue rises and fewer people need government aid. The big problem is rising interest costs. The U.S. government must pay more to borrow money now than it has in recent years. The 10-year Treasury bond has an interest rate of about 4.3 percent, up from about 3.3 percent a year ago. The 3-month Treasury bill yields are even more eye-popping: 5.5 percent now vs. 3 percent a year ago. It’s tempting to write this off as a fluke. The Federal Reserve has aggressively hiked interest rates to fight inflation. In fact, this is warning of what’s ahead. The Fed is unlikely to slash rates back to 2021 levels anytime soon, and the U.S. government is set to borrow massively in the years ahead. Interest costs will likely double in the next decade. Interest costs aren’t the only budget whammy this year. Tax receipts are coming in lower than expected despite strong corporate profits and low unemployment. It’s especially noticeable in capital gains. Home sales are down, and poor 2022 stock market performance (the worst since 2008) left many with losses. Federal spending is also up from last year as inflation caused Social Security and Medicare costs to rise, and as President Biden’s green energy plan and bipartisan industrial policy and infrastructure programs ramp up. This can’t go on unchecked. Federal debt is on track to hit a record level by 2029, meaning it will be higher as a percentage of the U.S. economy than even World War II’s peaks. And it will only get uglier from there if politicians continue to ignore it. more at the link
