The only problem that exists is spending too much money. They could fix this overnight if people were willing to give up public entitlements and healthcare support. But they aren’t willing to so the US will eventually see hyper inflation or less likely bankruptcy

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rayiner 4 hours ago | parent | next [-]

No, you can also raise taxes. The deficit is 4% of GDP. If we raised taxes by 4% of GDP, we'd still be less than the OECD average. We'd be the same as Australia, which is the second lowest-tax Anglosphere country.

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DoesntMatter22 2 hours ago | parent | next [-]

We are spending 3 trillion extra dollars than we take in taxes per year. That means taxes would go up by 75 percent. Even then it doesn’t matter because we will spend even more. Everyone agrees to spend, no one agrees to cut

	▲	rayiner a few seconds ago \| parent [-]
		[delayed]

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9rx 3 hours ago | parent | prev [-]

If taxes are raised then the people have to pay for the services, which is exactly what they don't want to have to do. That is the whole appeal of having those services — that they are, for all intents and purposes, free.

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rayiner 3 hours ago | parent [-]

I mean this is the problem with half a century of global-hegemony-fueled debt binging. We could balance the budget our taxes would still be $2.7 trillion lower than what they would be if we were at the EU average.

	▲	DoesntMatter22 2 hours ago \| parent [-]
		Hegemony is large irrelevant as much of Europe is facing the exact same issue, some of it much worse than the US

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QuarterReptile 3 hours ago | parent | prev | next [-]

The overnight fix, to be perfectly clear, would require illegal firing of federal judges and getting rid of the filibuster, just to start fixing.

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LocalH 3 hours ago | parent [-]

The real overnight fix would be something we can't say on the internet without getting banned from whatever site we say it on

	▲	TimorousBestie an hour ago \| parent [-]
		Eventually, paraleipsis will be insufficient to protect yourself from this sort of behavior, c.f. the new Comey indictment.

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bdangubic 3 hours ago | parent | prev | next [-]

we should give up 765 things first before entitlements - starting with cutting Department of War budget by about 90% and go from there

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rayiner 3 hours ago | parent [-]

That would be irrational. Even the UK and France spend 2% of GDP on defense, and they live under America's shield. Cutting our spending down to their level would save $400 billion/year. That's not peanuts, but that's only 1/3 of the deficit.

Having sufficient capacity for violence is indispensable for the existence of a state. You need a military so you can kill people in other countries, and you need police so you can maintain an internal monopoly on violence. You can't have state-funded preschool if you don't have a state. The Ukrainians unfortunately are learning this the hard way right now.

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dh2022 2 hours ago | parent | next [-]

Re: "You can't have state-funded preschool if you don't have a state" - USA is protected by two immense oceans right and left and two huge, weak and pliable neighbors up and down. From all sides USA is well protected without spending hundreds of billions anually. About ballistic missiles threat - USA already has 1,200 nuclear warheads deployed in various forms (submarine, air force, ground silos) so MADD takes care of that.

With 2% of GDP USA would take care of all its defense needs. USA does not need 11 aircraft carrier groups, about 100 nuclear-powered submarines, about 2,000 jet fighters, only God knows how many destroyers, to protect itself.

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AngryData 2 hours ago | parent | prev [-]

Who would ever want to invade the US? You would be destroying nearly everything of value because half the US economy is based on financial services. And it would make middle eastern insurgencies seem like childs play compared to the 10x higher gun ownership rate with better and more modern firearms in the US with a far higher percentage of practiced shooters and veterans.

	▲	TimorousBestie an hour ago \| parent [-]
		> Who would ever want to invade the US? Effectively, no one. The CCP doesn’t have the logistics capability or manpower to manage the largest occupation in the history of the world from half a world away. They can and do want to destabilize American hegemony, but that doesn’t necessitate an end to the American state. My read is they prefer something like the British model for ex-imperials.

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UltraSane 3 hours ago | parent | prev [-]

Taxes can always be raised before going bankrupt.