So, why budget deficits and national debt?

[Woodznutz]

Deficits and the debt are hung around the neck of the president and party in power. However, neither are entirely guilty of this. America hemorrhages a $Trillion per year just through the trade deficit, drugs, and remittances. This must be backfilled by borrowing the shortfall which increases the debt. Each administration must borrow a $Trillion each year, more or less, to keep up with needed expenditures. Raising taxes, besides not being enough to cover the borrowing, is political suicide. The patient, the economy, is on perpetual life support but gets closer to death each day. Let's hope no one pulls the plug.

 

[IM2]

Racial and ethnic inequality has cost US economy $51 trillion since 1990​

https://www.weforum.org/agenda/2021/09/racial-and-ethnic-inequality-has-cost-us-economy-51-trillion-since-1990/

This is the cause.

 

[MisterBeale]

Racial and ethnic inequality has cost US economy $51 trillion since 1990​

https://www.weforum.org/agenda/2021/09/racial-and-ethnic-inequality-has-cost-us-economy-51-trillion-since-1990/

This is the cause.

Nah, I'm pretty sure it was the deficit spending.

 

[MisterBeale]

RFK Jr. pays lip service to the debt while pushing policies that would increase it

It's good to hear a candidate actually talk about our spending problem. But his campaign promises would exacerbate it.

reason.com

Is RFK Jr. Really as Pro-Liberty as He Claims?​

Jul 30, 2024

 

[Woodznutz]

It gets worse. More immigrants, more remittances. Kamala believes that these remittances will bolster the economy of those countries so they will stop emigrating to America. The problem is that once they're here they don't leave but continue send U.S. dollars out of the country.