Quote:
Originally Posted by DON10E
BC, (Before Corona) tax revenue to the US Government was at an all time high. We collected more in taxes than ever in history. You'd think that would allow us to take care of business AND pay down some of the debt. But instead, we spent so much money that we ate up all the record income, but borrowed another Trillion.
The issue is not how to raise the money. The issue is how to compel these short sighted politicians to use the money to pay back what we've borrowed. The interest alone on the debt is about $500 BILLION per year. Imagine the good we could do with that money, or the stimulus we could provide to the private economy to generate even more tax revenue and a better quality of life.
Solve the real problem.
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Space Force. The Wall (we needed reinforcements - just not to that extent or expense). Tariffs that raised OUR cost of imports and profited other countries who were happy to provide goods and services to other countries instead of us. Enormous tax breaks for the uber wealthy and major corporations.
Those are some of the things that money was taken from the taxpayer and sunk into, during the past few years. We WERE on a slow road to a reasonable debt (as debts go, for nations in general), until then. But remember as well, we had been devastated over a decade ago. We hit an actual recession due to more incompetency in government that opened up avenues for banks to mislead and defraud their customers, to the point where homeowners had to declare bankruptcy, and the banks had to receive bailouts in order to stay afloat and not turn the recession into a full-blown jumping-from-Wall-Street-Building depression again.