I personally don't think the two parties will get their act together (as discussed at the 4:50 mark). Each party will criticize the spending of the other party, and then increase spending when they are in power themselves. We are already at WWII spending levels, and I don't see our spending going down. Anyone here disagree with me?
The "unraveling," which is when a critical mass of people (of the capital markets) start to believe as I do...then that unraveling could come at any time.
Link: https://www.youtube.com/watch?v=Xi7RvweuIUk
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Trump solves too many wars to please the opinion page.
Maybe the WSJ should give him credit for the tame inflation, record tariff revenue, monthly surpluses, and 3.0% GDP growth, but it never will.
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People fire-bombed his cars, chargers and dealerships when Elon tried to solve this problem.
But AI is the next revolution happening at the moment, it is the new arms race.
trade deals have a component of the other country investing in our businesses), the corporate tax cuts made permanent, (much of the spending side of the BBB was what was necessary to secure the tax),
the tariff money, the energy production.
Granted, I'm not an expert on this, so take what I say with a grain of salt. But, WSJ and CNBC think we need all levers to move the debt, not just one.
Now, there could be an order to this. For example, it probably makes sense to (1) deregulate to promote growth first, (2) then cut spending, (3) then cut interest rates and issue longer term debt to replace shorter term debt, (4) then raise taxes.
Also, there is the 4 year presidential cycle to think about. 1, 2 and 3 could be done under Trump, then do 4 in next presidency. But, Dems may undo 2 and 1 if they win the presidency.
Interestingly, much of this should be the domain of Congress, but Congress doesn't seem to act much even when the majority party matches POTUS...and goes dormant when it doesn't match. POTUS has a lot of power ... so much power that one could consider this a new historical era in the US.
And in this way, Chris is correct, the debt is irrelevant. We can add it to the list of human created problems that are unsolvable by humans: anthropogenic climate change, tribalism (racism and other bigotries), the collapse of the empire.
If you can, get a yacht and sail away.
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all would have fallen apart.
Not one Demo would support a budget cut.
Most, but not all R’s would support a budget cut.
The margin in congress was slim.
Thus, compromise needdd…and I think you are smart enough yo know this so please stop posting glib, politically advantageous answers when you know there is s good answer.
Now Trump gets to work (barring liberal court interference)….RESIST!!!
Nobody in the government seems to be too worried about it. And no one seems to want to do anything serious about it. And by that I mean raise taxes and cut spending.
Both are necessary.
Remember idiot Chris94 that told us the debt was irrelevant?
We "debted" ourselves out of the 2008 financial crisis and the covid crisis. But, you can't "debt" yourself out of a debt crisis.
When Adm. Michael Mullen was asked in 2010 what was the greatest threat to the United States, his answer surprised everyone: the national debt. But, now, he believes there is a greater threat. The political divide, where parties would rather score political points against each other than solve real problems, which means they won't even try to solve the debt situation.