Trumpenomics
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The really amazing thing is that he can still speak with all that dick in his mouth.
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How he didn’t see this coming in November I’ll never understand. Or at least by February.
They’ll end up, after a lot of drama, with the same formula they use every time they have a trifecta: take away health care and food assistance from low income families and use the money to fund tax cuts for their donors.
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@jon-nyc said in Trumpenomics:
How he didn’t see this coming in November I’ll never understand. Or at least by February.
He was on stage with Trump while DJT was talking about the TCJA Cuts being made permanent and the Tax breaks on tips and overtime. So him bitching about the $5 Trillion and calling it new spending when it’s not new spending, just reduced receipts according to the CBO hits me as disingenuous at best. I have no doubt that he’s pissed there weren’t more and deeper spending cuts, I’m sure he’s pissed about the increased spending in some areas, but they are small details compared to the tax rates being made permanent. It really does make me think that all of this is the EV credits being rolled back, and the energy policy being presented.
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Worst half year performance of the dollar in over half a century.
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Let's fast forward and say this happens, or in 10 years we have a bajillion dollars in debt. Eventually what are the possible outcomes?
- Massive spending cuts?
- Massive tax increases?
- Dollar security faulters and causes worldwide economic depression?
It seems a mathematical certainty that if we don't change something, all the government will spend its money on is paying debt interest. Which would be quite appropriate given how many families do that today with their credit cards.
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Currency devaluation/inflation … we print (a lot more) money to pay off the debt. May or may not lead to “Dollar security falters” and/or “worldwide economic depression.”
Gotta compare with the alternatives. Cutting spending too much or increasing taxes too much may also lead to some versions and degrees of “Dollar security falters” and/or “worldwide economic depression.” There may be some versions of “printing money” that are less damaging than some versions of “cutting spending” or “increasing taxes.”
