America just ran a $2 trillion deficit.
We're spending over $1 trillion a year on interest alone—more than on national defense.
And that's without a recession.
So what's the way out? Spending cuts, higher taxes, faster economic growth—or are we already past the point of fixing this?
https://i.redd.it/lhooflj0jwuh1.png
Posted by ExcellentWinner7542
11 Comments
Winning, so much winning
“Republicans” ran a $2 Trillion deficit. Fify
Give everyone $5k apparently
We are past it. The Oligarchs are positioning themselves to acquire everything after the collapse.
It ends with Democrats and Social Security getting blamed
Spending cuts but it won’t happen so we will never get out
We need all 3 unfortunately. We need to raise taxes, cut spending, and focus more of the budget in areas that bring in more economic benefit such as SNAP. The best thing to refocus spending on would be some form of infrastructure with considerable oversight of the budget to avoid the usual fluff.
IMO we need Warren Buffets proposal that if the deficit is more than 3% of GDP all members of. Congress are ineligible for reelection. As much as it would suck right now it’s the only way to actively incentivize balancing the budget in any fashion. Congress is actively incentivized to spend more which is the problem.
Runaway inflation or we end up having a mysterious blackout that wipes the system clean with a new system put in place. The digital dollar era.
They’re gonna cut all the welfare programs as a whole and don’t even check which one is necessary and which one is wasteful and then cut taxes for the rich just because
Tax the billionaires and corporations.Simple.
What does the US government own that it could sell off (national estate sale). The government owns 640 million acres of land. Assume 50% of this is usable. Assume it could be sold for $20k per acre (I don’t know if either of these assumptions are close to correct). This sale would raise $6.4 trillion. It’s not an answer but it could be a start.