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WarGamer

(18,054 posts)
Wed May 24, 2023, 07:32 PM May 2023

The National Debt... is it a long term problem? [View all]

Right now, servicing the National debt costs the US a full 9.0% of the entire US budget.

To put that into perspective, the military costs 12% of the US budget.

Social Security makes up 19% of the US budget.




There have to be some great solutions.

Deposit 31 fancy Trillion Dollar Platinum coins in the Treasury?

And then pass a balanced budget law requiring taxes and fees are adjusted to produce the ZERO bottom line annually?

If you start from scratch, reform the tax laws for greater fairness and proportionality it can be done.

31T in debt is 250k for each and every taxpayer.

There's nothing wrong with spending more money, in fact I'm a big fan.

But ya gotta make your numbers add up to ZERO at the end of the year.

Living in the country that has allowed you to be mega rich isn't free... time to pay up.

After all... in ancient Rome, id the gov't ran out of money they'd just "disappear" the wealthy folks and take their $$.








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Problem Is... ProfessorGAC May 2023 #1
If we can start from "break even"... WarGamer May 2023 #2
I'm Ok With That ProfessorGAC May 2023 #6
A balanced budget is not what we should aim for. dawg May 2023 #3
But to spend a trillion dollars a year to serive the debt... WarGamer May 2023 #4
If we can borrow at 4%, and grow the economy at 5%, we are better off. dawg May 2023 #7
I think you're missing my point. WarGamer May 2023 #9
Under your scenario, the investments are paid for inefficiently and the economy suffers. dawg May 2023 #10
I hear ya... WarGamer May 2023 #11
Better to tax the wealthy than the middle class, for sure, but ... dawg May 2023 #13
John Oliver did an interesting segment about the debt a year or two ago stumpysbear May 2023 #5
entertaining but not how an Econ professor would see it. WarGamer May 2023 #8
A balance budget is a reasonable target, but a horrible rule. unblock May 2023 #12
A balanced budget requirement could turn recessions into depressions. dawg May 2023 #15
That's it exactly. unblock May 2023 #18
I'm cool with that... WarGamer May 2023 #20
It Does Not Seem To Be, Sir The Magistrate May 2023 #14
Conservatives scaremonger the debt in order to push for cuts to social programs. dawg May 2023 #16
Exactly, Sir The Magistrate May 2023 #17
Caring about th enational debt is patriotic and smart... WarGamer May 2023 #19
Democrats should scaremonger the debt... to illustrate how the wealthy are cheating. WarGamer May 2023 #21
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