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| BFR said: What about student loan debt relief for existing loans? I thought you guys were all for that one, that's something like $700b +.
The US national debt is already $35t, how much is enough for you guys? You want to push it to $50t with ease. Keep it up and the USA will go bankrupt one day, and when it does, I will be moving to a long held (and currently unoccupied) family property in New Brunswick, Canada. That is my escape plan, what is yours when the USA goes under and we see Civil War #2 unfold? |
The US national debt sits at 129% which is higher than you would like to see, but we are not even remotely close to in trouble there. Japan for instance is at 264% debt to income, USA currently sits at 12th highest debt to income. Nothing a huge temporary (decade or so) increase in taxes couldn't fix. From 1944-1963 income tax was up to 93% for the highest income earners and was 70% all the way up to 1965 to pay down debt and pay far wars at that time. A lot of the USA debt is from tax cuts, the last Iraq war, 2008 recession, 2020, covid, and Trumps tax cuts to businesses and top tax earners.
