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US Politics 16w

shield_of_democracy

 Buddy, child, my brother; The National Debt was gained under administrations typically dominated by Republicans. COVID, the Iraq and Afghan Wars, and ‘08’ recession all added on top of the reckless borrowing started by Reagan.
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US Politics 16w
And if he said we need to start paying it off and cut Medicare and SS (the two largest expenses) you’d call him literally Satan and that he’s trying to strangle your grandmother to death. We get it, you hate trump
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Anonymous 16w

The issue of borrowing more than you generated kickstarted in the late 1930s thanks to John Maynard Keynes and his Keynesian economics. This snowballed.

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Anonymous replying to -> #1 16w

I’m aware of that, however the trend of reckless fiscal irresponsibility ballooned under Reagan’s administration and under every administration with a Republican Majority since then. But our country has almost always ran a budget deficit since we were founded

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Anonymous replying to -> shield_of_democracy 16w

It only got worse under the war on terror because defense contractors wanted a bump in their budgets

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Anonymous replying to -> shield_of_democracy 16w

We have, but the problem has never been this bad before.

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Anonymous replying to -> #1 16w

Oh I know it’s VERY bad, I’m terrified of the consequences when we default

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Anonymous replying to -> shield_of_democracy 16w

No politician is going to suggest the spending cuts required to get this back under control because it’s political suicide. Do you think it’s more likely that we’ll get a massive depression, or stupidly large inflation?

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Anonymous replying to -> #1 16w

Banks can stop lending to us since we can longer control the spiral the interest on our debts have started. Only way I can seriously see this correcting is if we slow printing of money, hike taxes on corporations and begin using proceeds of Anti-Trust Lawsuits towards paying off debt in massive chunks

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Anonymous replying to -> #1 16w

And I have no idea how economics works

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