Machiavellian said: Mnuchin warns the US government is running out of money. I wonder if anyone saw this coming?? |
Worse, it's loosing money a lot faster than predicted. By the predictions about the tax cut, the US were scheduled to get 1 Trillion+ additional debt starting 2022. After 3 quarters the new debt of this FY of the US stands by 746 Billions. In other words, there's a chance that it will happen this year already, and next year is pretty much set for it already.
Also, it's not running out of money, the debt ceiling is already reached. It's more like they are running out of money to shift around to keep everything running. Wonder how long this standoff to raise the debt ceiling will last this time around.
RolStoppable said:
Machiavellian said: Mnuchin warns the US government is running out of money. I wonder if anyone saw this coming?? |
Probably not. Giving tax cuts to the rich and relying on their generosity to trickle down the wealth is a foolproof method for the well-being of everyone, so seeing that it may not work is quite shocking.
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That's the modus operandi of the republicans for decades now, probably since Reagan.
Out of power, they cry that the state is loosing money, and point with their fingers at the democrats in charge at the time.
In power? Tax cuts (pretty much one per term) and ballooning military budget make the deficits swell like never before. And continue blaming the democrats and their social programs for it.
Last edited by Bofferbrauer2 - on 12 July 2019