But hey... spending wins elections.
Link: https://twitter.com/RealEJAntoni/status/1767622355294048486
...from the attached Investopedia link...
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Why Has the U.S. National Debt Grown?
While the U.S. national debt can increase and wane, economic strains such as the COVID-19 pandemic, the wars in Iraq and Afghanistan, and the Great Recession of 2008 have been contributors.
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When sanity returns to Congress (i.e. Rational Reps take control of their side of the House)...there needs to be negotiation on a package of tax increases (e.g. on those incomes >$400K), and focused spending cuts...
btw, here's a history of our Debt to GDP ratio...
https://tradingeconomics.com/united-states/government-debt-to-gdp#:~:text=Government%20Debt%20to%20GDP%20in,percent%20of%20GDP%20in%201981.
Link: https://www.investopedia.com/articles/economics/11/successful-ways-government-reduces-debt.asp
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There's not one thing he does right, he's in completely over his head.....
For completion by TBD.
Oh, and that money need is subject to change in one direction only.
remember that?
with their infrastructure...
Link: https://en.wikipedia.org/wiki/California_High-Speed_Rail#:~:text=Construction%20began%20in%20the%20Central,construction%20project%20in%20the%20US.
Because we'll default. And who better to lead the country into bankruptcy than Trump!
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And no one wonders why.
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Inflation has not gone and will stay with us for long time. So will high interest rate. Fed may drop it a bit, but don't expect low interest rate that we had in pre-Biden era.
Thank Biden's 1.9 trillion COVID spending package signed in 2021. It will take quite a few years for American economy to digest this spending monster.
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At least it isn't going to setting up nationally funded youth transgender and sex grooming camps.
We will spend our country into oblivion. The only thing we vote on is how we will do it.
65% of that spending will be in US. Basically it is a subsidy to defense industry at expense of taxpayers (future taxpayers).
I posted one example here before, Switchblade-600. Before the war this drone was $6000 each. When they announced on April 2022 that they would give Ukraine 100 Switchblade-600, the price of that drone went up to $500k each. That's huge profits made by defense industry and the middle men. More aids to Ukraine means more war profits for special interest groups and middle men like Hunter Biden. In this sense Ukraine aid is money laundering.
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