| ▲ | rbanffy 19 hours ago |
| I guess it’s time to elect a couple democrats to curb the deficit while solving the impending social collapse. Unfortunately, I don’t think that will happen this time. |
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| ▲ | newfriend 18 hours ago | parent | prev | next [-] |
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| ▲ | copper-float 18 hours ago | parent | prev | next [-] |
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| ▲ | 17 hours ago | parent | next [-] | | [deleted] | |
| ▲ | cyanydeez 18 hours ago | parent | prev [-] | | the history has demonstrated these are Republican problems. Democrats are shit for other things, but not for fisical stupidity like cutting taxes and rasing spending. | | |
| ▲ | nomel 15 hours ago | parent | next [-] | | Why does nobody post references anymore!? These are simple facts that nobody should be arguing about. https://www.investopedia.com/democrats-vs-republicans-who-ha... > Republican presidents added about $1.4 trillion per four-year term, compared to $1.2 trillion added by Democrats since 1913. > Democratic presidents have added a total of $18 trillion to the national debt since 1913 (adjusted for inflation), while Republicans have added $17.3 trillion So everyone downvoting and flagging people saying it's a problem with both parties should be ashamed. Tribalism is stupid. | |
| ▲ | Georgelemental 17 hours ago | parent | prev [-] | | [flagged] | | |
| ▲ | seanmcdirmid 17 hours ago | parent | next [-] | | No, republicans have always raised spending more than democrats. They just have no impulse control, and only worry about the budget when a Democrat is in charge. | | | |
| ▲ | 17 hours ago | parent | prev [-] | | [deleted] |
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| ▲ | DoesntMatter22 18 hours ago | parent | prev | next [-] |
| I don't understand that at all. The deficit has been running rampant ever since Clinton left office. Both sides spent with reckless abandon. |
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| ▲ | 17 hours ago | parent | next [-] | | [deleted] | |
| ▲ | epolanski 18 hours ago | parent | prev [-] | | Trump, 1st term, added 24% of GDP worth of debt. That's more or less the same number of Obama and Bush, but they served two terms each. In his second term, he's already added 11% in a record 19 months. | | |
| ▲ | 17 hours ago | parent | next [-] | | [deleted] | |
| ▲ | DoesntMatter22 17 hours ago | parent | prev | next [-] | | What's the difference? Everyone involved has been completely reckless with the debt. You think a democrat will somehow stop spending? Both parties are super happy to drive the car off the cliff | | |
| ▲ | donohoe 14 hours ago | parent | next [-] | | They just told you what the difference is. | | |
| ▲ | DoesntMatter22 11 hours ago | parent [-] | | There is no practical difference. Both parties are glad to drive the car off a cliff | | |
| ▲ | rbanffy 8 hours ago | parent [-] | | The big difference is that, at the current rate, economic collapse of the US will happen in my lifetime, and I’m almost 60. I wasn’t looking forward to that kind of planetary upheaval for my retirement. | | |
| ▲ | JKCalhoun 3 hours ago | parent [-] | | My wife worries about surviving the next Great Depression. "Do we have enough cash?", "Should I put off retirement?", etc. I've tried to tell her that we're all going down. Workers will be laid off, markets will crash, real estate will collapse, money will inflate… Best look instead for ways to try and enjoy life regardless. |
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| ▲ | epolanski 10 hours ago | parent | prev [-] | | The difference is that this administration is running at double the rate of the previous ones, and George Bush oversaw both two wars and the global financial crisis in 2007. Your argument "since you're already over the speed limit, 200 or 300 miles per hour don't matter". Sounds asinine. In any case I didn't say anything about democrats, but for sure, this administration with large tax cuts and increased spending is speeding US into very dangerous territory. | | |
| ▲ | DoesntMatter22 9 hours ago | parent [-] | | Well all the other administrations were driving 200 or 300 miles over, now we are driving 500 over. It doesn't matter really, if we hit anything (like Japan dumping US treasuries) we may be dead. The democrats thing was what I had originally replied to. My whole point is that it really doesn't matter who is in the White House really, both sides seem determined to rack up as much debt as possible and it'll probably spiral out of control. Neither side wants to cut costs (not really), in fact many want to spend more. | | |
| ▲ | rbanffy 8 hours ago | parent | next [-] | | > now we are driving 500 over Keep in mind the car is not designed to generate lift at that speed. | |
| ▲ | epolanski 8 hours ago | parent | prev [-] | | This is true globally, not just in the US, and that's why global debt keeps spiralling. But I still find the argument "it doesn't matter if you're going 200 or 300 or 500 mph" completely asinine. It does, and it makes an enormous difference when the debt is so big in absolute terms. You keep forcing an equality that's not there. At the end of the day it's one specific administration that brought the largest tax cuts in history since 1981's Reagan (another republican) ones while increasing spending. | | |
| ▲ | rbanffy 8 hours ago | parent [-] | | > and that's why global debt keeps spiralling. Yes, but if the dollar collapses and is replaced by a new reserve currency while other countries have debts in dollars, they win and the US loses. Only the US loses, keep in mind. It’ll be the first time the US experiences that side of the stick. |
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| ▲ | voxl 18 hours ago | parent | prev [-] | | Don't bother, Republicans are the only ones that care about the debt and their ideology makes them incapable of realizing there very choice of candidates is the exact problem | | |
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| ▲ | bigstrat2003 18 hours ago | parent | prev [-] |
| Every single administration since the turn of the century, regardless of party, has run a deficit. It's clear that if we want fiscal responsibility (and I do, very much), we can't look to either of the major parties for it. Unfortunately the chances of that are low at best, and on top of that it's not actually very popular to do what is needed to balance the budget. The cold hard reality is that we will need to both raise taxes and cut spending to balance the budget, but lots of people are ideologically opposed to one or both of those things. And even if they aren't, there's no agreement on how to implement said tax hikes/budget cuts. It's a pretty grim situation. |
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| ▲ | porkpieshoe 17 hours ago | parent | next [-] | | It's helpful to avoid "both sides"-ing, or abandoning all hope. Clinton through 2001 - ended with a 1.2% GDP surplus Bush through 2009 - ended with a 9.8% GDP deficit Obama through 2017 - ended with a 3.4% GDP deficit Trump through 2021 - ended with a 12.3% GDP deficit Biden through 2025 - ended with a 5.9% GDP deficit Trump now - running even higher, though final data isn't yet available. There's a clear pattern available, where one party reliably leaves makes the situation worse, and the other party reliably makes the situation better. The fact that Democrats cannot undo all of the massive damage done by each Republican administration does not mean "both sides" are the same. If you want third parties to win, they realistically need to start with local elections, so they can gain momentum and take the spot of one of the majors. (also helpful to get rid of FTTP voting in as many elections as possible). We're seeing great success with local democratic socialists, who keep showing that government can be a force for good, it can be improved, and it can be done without blowing budgets. It's a promising start, and it's clearly threatening Dems and the GOP alike. | | |
| ▲ | blooalien 13 hours ago | parent [-] | | > ...or abandoning all hope. "Abandoning" all hope implies a choice. I never chose to have every last shred of hope and optimism I had forcibly ripped from me and stomped into the dirt by these scumbags we call "leaders" (and their idiot cultists). When will humanity learn that the types of people who become billionaires and trillionaires literally want us all dead? At this point they appear to also want themselves dead too, but it's all gonna be okay in the end, because one of them gets to die last with all the money, thereby "winning" the game. |
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| ▲ | fragmede 18 hours ago | parent | prev | next [-] | | I mean, there's fiscally responsible but the welfare department is never gonna make money at the end of the day spending is a political football. Trump's ICE got $10 billion, because what? So now in addition to DEA we have ICE and the TSA, and well, we can't un spend that money and shut them down so, well, shit. | | |
| ▲ | rbanffy 8 hours ago | parent | next [-] | | > the welfare department is never gonna make money No, but taxes make money and if you just stop spending on things like ICE and their concentration camps or overpriced and ineffective military action and equipment, you’ll see there is a lot of money left for giving everyone healthcare and a college education. As an engineer, things like the F-35 are beautiful, and I want them to be developed - but war is changing fast and what was effective a generation ago is now vulnerable to cheap drones. | |
| ▲ | pstuart 16 hours ago | parent | prev [-] | | ICE got $75 billion, with $45 billion of that allocated for concentration camps. And somebody's got to build those camps and supply them, and their CEOs are all buddies with Trump. |
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| ▲ | b1gTekken 17 hours ago | parent | prev [-] | | Financially ledger is just a social construct; the IOUs of the past are never paid off as they never mattered. Finance shit just keeps innumerates and those ignorant of physics believing wild end of the universe theories. For more look up Debt jubilee's; humans wiped the debt of the dead off the books and no black holes opened within the sun, no gods descended from Olympus and slaughtered the children Fucking mesmerizing how its not just MAGA nutters obsessed with old spoken and written finance traditions; different semantics than religion but same goal of kowtowing the proletariat. This site helps propagate such paranoias with the tilt it has towards startup funding and yada yada. Smartest engineers I have ever worked with earned PhDs designing experiments for Tevatron and working on NASA satellites. We often had a laugh at how such social hacks dupe so many wannabe smart and educated people. On the contrary startup genius software engineers are easily duped by social hacks. | | |
| ▲ | Ohentis 17 hours ago | parent | next [-] | | Occasionally countries do default on debt. It doesn't go well. | | | |
| ▲ | just_mc 17 hours ago | parent | prev [-] | | US Treasuries happen to be a significant part of many peoples retirement savings. So I think your hot take is pretty uninformed. | | |
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