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US debt
Nov 15, 2024 12:04:28 GMT -6
Post by oedipustex on Nov 15, 2024 12:04:28 GMT -6
The problem is, any type of spending cuts will destroy GDP and the economy. Another fool who doesn't underastand that the federal budget is not the economy and vice versa. Spending cuts will spur the economy, as it usually does. |
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US debt
Nov 15, 2024 12:11:52 GMT -6
Post by captbudman on Nov 15, 2024 12:11:52 GMT -6
The problem is, any type of spending cuts will destroy GDP and the economy. More than likely, but what’s the harm in trying to correct course? You are fixated on the doom. But this is the first time anyone has even discussed cutting billions in spending. It has to be done. If you are a pure Keynesian economist, that may be the case. However, you have to look at the efficiency of government spending. Because of government borrowing and spending, we are getting stagnation as a result. If you cut government spending significantly (as in a Trillion dollars or more), combined with deregulation and tax cuts, you'll stimulate the economy with private market investments. If we follow the path of Newt Gingrich and Clinton, combined with massive government cuts/reform, we could be on the path to budget surpluses once again. Of course, the biggest obstacle (especially in the Senate) will be Uni-Party desire to spend, spend, spend as well as reward their lobbyist. |
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US debt
Nov 15, 2024 18:19:58 GMT -6
Post by luvmywammies on Nov 15, 2024 18:19:58 GMT -6
The problem is, any type of spending cuts will destroy GDP and the economy. Another fool who doesn't underastand that the federal budget is not the economy and vice versa. Spending cuts will spur the economy, as it usually does. Lol, What a fool. You take out 2T of deficit spending, you’ll have -5% GDP. |
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US debt
Nov 15, 2024 20:44:48 GMT -6
Post by oedipustex on Nov 15, 2024 20:44:48 GMT -6
Another fool who doesn't underastand that the federal budget is not the economy and vice versa. Spending cuts will spur the economy, as it usually does. Lol, What a fool. You take out 2T of deficit spending, you’ll have -5% GDP. Shall we pat this little Keynesian on his head and send him on his way? |
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US debt
Nov 15, 2024 20:46:25 GMT -6
Post by oedipustex on Nov 15, 2024 20:46:25 GMT -6
Apparently not enough people that are supposed to do anything about it give a shit Welcome to the forum! We are way past being able to do anything about it. You’d have to cut 30% of the military budget and 30% of all entitlements (SS, Medicaid, Medicare) just to balance the budget. That’s political suicide, and there will be a revolution if you cut entitlements. I can't think of a single person, other than you, that believes we will balance the budget in a single year. |
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US debt
Nov 15, 2024 21:34:06 GMT -6
Post by luvmywammies on Nov 15, 2024 21:34:06 GMT -6
Since February 2019, the US national debt has increased by $12.5 trillion and the US GDP by $7.2T
Therefore, in the last five years for 1 unit of GDP, the US government has created 1.7 units of debt.
This is incredible how debt-driven the US economy is
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US debt
Nov 16, 2024 13:44:51 GMT -6
Post by luvmywammies on Nov 16, 2024 13:44:51 GMT -6
The U.S. Now Has:
1. Record $17.9 trillion in household debt
2. Record $12.6 trillion in mortgages
3. Record $1.6 trillion in auto loans
4. Near record $1.6 trillion in student loans
5. Record $1.2 trillion in credit card debt
Total household debt is now up 56% over the last 10 years and total credit card debt is up 53% since 2020.
Meanwhile, delinquency rates on credit cards and auto loans are now at 2008 levels.
Consumers are "fighting" inflation with debt.
This can't end well.
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US debt
Nov 17, 2024 21:02:37 GMT -6
Post by luvmywammies on Nov 17, 2024 21:02:37 GMT -6
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US debt
Nov 18, 2024 10:09:02 GMT -6
Post by oedipustex on Nov 18, 2024 10:09:02 GMT -6
This article is a bit to nice, but still hammers the Democrats for their poor economic performance. A trillion here and a trillion there, soon you're talking about real money. How Democrats Blew It on Inflation |
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US debt
Nov 18, 2024 16:34:12 GMT -6
Post by luvmywammies on Nov 18, 2024 16:34:12 GMT -6
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US debt
Nov 19, 2024 10:23:23 GMT -6
Post by oedipustex on Nov 19, 2024 10:23:23 GMT -6
I don't find graphs like that particularly helpful. They are created and presented for maximum alarmism, something I don't care for and find unneccessary when one's argument is sound. Any sound analysis should use constant dollars, IMO. I think it more illustrative to use debt as a percentage of GDP. The source I found after a cursory look only went back to 1960, but it still shows the immensity of recent debt accumulated since mid-2020. I expect the only time in our history close to this would be the WWII years.  |
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US debt
Nov 19, 2024 18:43:33 GMT -6
Post by luvmywammies on Nov 19, 2024 18:43:33 GMT -6
I don't find graphs like that particularly helpful. They are created and presented for maximum alarmism, something I don't care for and find unneccessary when one's argument is sound. Any sound analysis should use constant dollars, IMO. I think it more illustrative to use debt as a percentage of GDP. The source I found after a cursory look only went back to 1960, but it still shows the immensity of recent debt accumulated since mid-2020. I expect the only time in our history close to this would be the WWII years. GDP is a meaningless statistic because it captures debt. If every American went tonight and maxed out their CC, GDP would be through the roof. Is that really a measuring stick? |
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US debt
Nov 21, 2024 20:14:15 GMT -6
Post by luvmywammies on Nov 21, 2024 20:14:15 GMT -6
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US debt
Nov 23, 2024 9:38:14 GMT -6
Post by luvmywammies on Nov 23, 2024 9:38:14 GMT -6
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US debt
Nov 23, 2024 11:37:17 GMT -6
Post by oedipustex on Nov 23, 2024 11:37:17 GMT -6
Trump can't get into office fast enough. Still, just knowing he's coming in (or, at a minimum, knowing Biden and the woke Democrats are going out) leading economic indicators are starting to improve. The dollar is getting incrementally stronger every day. The Golden Age is coming. MAGA |
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