
Federal Tax Revenue Will Barely Cover Mandatory Spending This Year - Four_Star
http://thesoundingline.com/taps-coogan-federal-tax-receipts-will-barely-cover-mandatory-spending-in-2019/
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StillBored
Blah blah... "With the economy strong, unemployment low, and tax receipts at
record highs, now is the time to cut spending and bring the federal budget
into order."

Uh, how about we just stop cutting taxes for people & corps that are in the
top few %? These "trickle down" policies have been repeatably proven not to
actually boost the economy. In many cases its been shown that we are actually
boosting foreign economies more than our own.

Not only that but most "spending cuts" are really just backdoor tax hikes. Cut
the road budget, give eminent domain easements to big corp/bank which builds a
toll road and pockets 50%+ of the tolls as interest/profits. Cut higher
education spending $1, raise tuition on students $2. The best ones are the
ones like cutting spending on "women's health" that comes back as 2-3x in
medicaid spending. It just goes on and on... One party is insane, the other is
afraid of them and won't speak up for fear of the next election (despite
actually being the losers for last last 40 years).

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NTDF9
I think we're going to hit economic recession sooner than we think simply
because the US govt needs to borrow so much money to keep itself running.

I have an idea. How about the politicians who voted for this deficit be on the
hook for deficits and have to liquidate their own assets to pay for the
deficit first. Come to other citizens later.

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amanaplanacanal
I can't quite understand how "spending money today, and passing the debts on
to your grandchildren" became a conservative value. But every time federal
taxes are cut, that's exactly what's happening. I'd like to think that they
would be ashamed of themselves, even though I know it's not true.

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toomuchtodo
Shame is not a trait the people doing this have. You can't appeal to them; you
must treat them as irrational actors and act accordingly.

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awshepard
Is it economically rational, or irrational, to pass costs on to someone else
if one can? It seems a little odd to pass costs to one's grandchildren, but
hey, then it's "not my problem!" and they can vote to pass the costs to their
grandchildren!

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slededit
The costs are diluted by inflation and the children inherit the built
infrastructure. If the diluted debt is less than the value of the
infrastructure then everyone wins.

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malcolmgreaves
Oh no, the US owes all this money......in US dollars.

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codyb
What a silly thing to say.

It's been less than what four decades since the US experienced rapid inflation
during the oil embargo? These last few years of incredibly stable USD may have
clouded your judgment, and this idea that we can just print money whenever we
want is... beyond silly.

We may have more leeway than most as we are the world's largest economy, the
world's largest military, and the largest portion of the global reserve
currency but to dismiss this so arrogantly and easily? That's dangerous.

When things change, they tend to change very quickly. This is absolutely
something we should be concerned about as we continue to allow our hijacked
political system which benefits the few at the expense of the many to hand out
humunguos tax breaks to the already inordinately wealthy among us.

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slededit
Fed policy has significantly changed since then. Much of the stability is a
result of the fed carefully controlling inflation. This is why they are
tightening now.

