Could Trump do anything to make you stop supporting him?
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Actually wrong. Spending is what leads to debt.
Reagan's problem was similar to Trump's...never cut spending. But eventually it will be cut...either voluntarily now or forced in the future.
Most people don't understand economics very well. The idea that more revenue creates debt is actually preposterous. If you get a raise but you go further in debt, is it because you got the raise or because you spent more?
Reagan's problem was similar to Trump's...never cut spending. But eventually it will be cut...either voluntarily now or forced in the future.
Most people don't understand economics very well. The idea that more revenue creates debt is actually preposterous. If you get a raise but you go further in debt, is it because you got the raise or because you spent more?
I think Schumer is demanding a continuing CR with a 1% cut as the maximum cuts the senate will accept. I think Schumer is delusional. Already the interest on our debt is more than 20% of our budget, so a very small increase in interest rates on the bonds would outweigh a 1% cut in the budget causing our deficit to increase, not decrease. If we do not treat the debt seriously and demonstrate to the world that we are serious about balanced budgets they will demand much higher interest rates on our bonds and they will demand much shorter terms on the bonds. Already the only thing we can sell are two year bonds. Imagine what happens to the US when we have to refinance half of our national debt each year! If this were a company you would be looking to sell assets as the only way to reach a balanced budget. Basically we need to sell $17 trillion in assets to become fiscally sound again.
Governments do not care about balanced budgets any longer. Since the Gold Standard was abolished, governments believe that they can keeping borrowing, spending, and wasting, since they just print money with no regard for consequences. And now they are all pushing digital currency to make matters worse.
No kidding that spending leads to debt. Who said differently?
I never said "revenue creates debt". You said "revenue creats debt" and then said it was preposterous.
I said corporate welfare leads to a greater debt.
U.S. Debt by President: Dollar and Percentage
Click the link please. You'll see that "Reagonomics" killed the middle class and started the trend of presidents essentially doubling the national debt in their two terms. 160.8% increase to our debt. It's preposterous to think corporate welfare isn't going to shrink the middle class and further increase our national debt on an exponential level when we have data that clearly shows this.
I never said "revenue creates debt". You said "revenue creats debt" and then said it was preposterous.
I said corporate welfare leads to a greater debt.
U.S. Debt by President: Dollar and Percentage
Click the link please. You'll see that "Reagonomics" killed the middle class and started the trend of presidents essentially doubling the national debt in their two terms. 160.8% increase to our debt. It's preposterous to think corporate welfare isn't going to shrink the middle class and further increase our national debt on an exponential level when we have data that clearly shows this.
Reaganomics grew the middle class. We were in the midst of the roaring 80's. And lowering business taxes was the reason. When the cost of business goes down, business explodes. More money...more business activity...more jobs. Win...win...win.
It's Democrats who always increase taxes and regulation, making it expensive to do business. Businesses don't expand, people lose jobs. Less money, less business activity, and fewer jobs. Lose...lose...lose.
Then they push for more government spending. Result: inflation. Why? Because the only source of government revenue is taxes. They don't produce anything. So the increase spending doesn't produce wealth. More money is printed to cover debt. This is the source of inflation.
You have bought into lies concerning Reagan. He was an outsider. He loved America and Americans. That's why he was shot. Trump is in the same mold. He might suffer the same fate.
You are free to believe what you want about both. But you can't change economics.
It's Democrats who always increase taxes and regulation, making it expensive to do business. Businesses don't expand, people lose jobs. Less money, less business activity, and fewer jobs. Lose...lose...lose.
Then they push for more government spending. Result: inflation. Why? Because the only source of government revenue is taxes. They don't produce anything. So the increase spending doesn't produce wealth. More money is printed to cover debt. This is the source of inflation.
You have bought into lies concerning Reagan. He was an outsider. He loved America and Americans. That's why he was shot. Trump is in the same mold. He might suffer the same fate.
You are free to believe what you want about both. But you can't change economics.
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