@earl-of-trumps saidGovernments borrow for many of the same reasons as individuals.
You have a certain level of income, don't spend beyond that. Every American has to live by that simple math. And yet the enterprise with the largest income in the history of mankind just can't seem to make ends meet!
Overspending, No1. that's the soul reason.
Sometimes for necessities.
Sometimes for investment.
But often because it is cheaper than saving.
With low interest rates and a growing GDP it
makes sense to have a large national debt.
In the same way that for an individual it makes
sense to borrow if you are pretty sure of career
progression (and growing salary).
Post-war UK had huge debt - didn't hold the country back at all.
Japan today has massive debt - no problem.
The tragedy of Trump's legacy is that he has
increased national debt with nothing to show for it.
@earl-of-trumps saidIf you voluntarily decide to forego x percent of your revenue in the following year, you are going to have a shortfall even if you keep your spending at the same level. Thus, it is nonsensical to blame the spending for the shortfall; some level of spending is always necessary, so tax rates and revenue should be tailored to meet that anticipated spending. By and large, those proposing the huge tax cuts that were enacted claimed there would be no loss of revenue because of them which was either extreme economic idiocy and/or deliberate lying.
@no1marauder said - And the "massive debt" we do have is derived mainly from huge tax cuts for the wealthy and big corporations
you're out of your f'n mind.
Overspending by big fat engorged cats in Washington is why we are in debt and have been going back to Reagan.
You have a certain level of income, don't spend beyond that. Every American has t ...[text shortened]... history of mankind just can't seem to make ends meet!
Overspending, No1. that's the soul reason.
In any case, the US has also decided to waste trillions on unnecessary military expenditures and even more unnecessary wars and occupations.
The result of these two insane policies which progressives have bitterly opposed is the massive growth of the federal debt though a much smaller part of the latter was caused by expansionary fiscal policy during the Great Recession.
@whodey saidI'm sorry to hear your intercontinental business trips have been cancelled due to Covid-19.
Yes, eating meat, traveling by air, being able to leave your home, all luxuries.
We obviously don't need them.
@kazetnagorra saidYour glib sarcasm emphasizes your disdain for the plight of thousands of people.
I'm sorry to hear your intercontinental business trips have been cancelled due to Covid-19.
@earl-of-trumps saidIt is the apocalypse then.
I just saw an article on beef shortage. The burger chain, Wendy's is not serving burgers in California, just chicken sandwiches.
The article was not at all clear as to how many stores in the chain were affected.
@whodey saidLeftists like Warren Buffet?
It is also interesting that Leftists like AOC wanted Americans to not travel by air anymore, and Leftists like Warren Buffet are dumping all their stock in airlines stating that it is a different world now.
https://nypost.com/2020/05/04/airline-stocks-plunge-after-buffett-dumps-berkshire-hathaway-stake/
@whodey saidDon't get an underground hair cut, you could cause the lockdown to last forever:
Should conservatives begin an underground of business with Leftists corporations and government taking everything over?
For example, I've heard of many obtaining underground hair cuts.
https://www.thedailymash.co.uk/news/lifestyle/lockdown-must-last-until-end-of-the-year-says-woman-who-cut-own-fringe-20200423195742
@whodey saidThere’s no shortage in my meat department.
https://www.washingtonpost.com/business/2020/04/16/meat-processing-plants-are-closing-due-covid-19-outbreaks-beef-shortfalls-may-follow/
Isn't it interesting that Leftists like AOC want to stop us from eating meat and now there are shortages looming?
Here is the most disturbing part of the article
Ben Lilliston, the interim co-executive director of the Institute for A ...[text shortened]... stories about a surplus of meat. If they say it’s a shortage, maybe it is, but no one really knows.”
Sorry. Couldn’t resist.
@whodey saidFor all the "sky is falling" "we're running out of food" gullible chumps:
https://www.washingtonpost.com/business/2020/04/16/meat-processing-plants-are-closing-due-covid-19-outbreaks-beef-shortfalls-may-follow/
Isn't it interesting that Leftists like AOC want to stop us from eating meat and now there are shortages looming?
Here is the most disturbing part of the article
Ben Lilliston, the interim co-executive director of the Institute for A ...[text shortened]... stories about a surplus of meat. If they say it’s a shortage, maybe it is, but no one really knows.”
"While pork supplies tightened as the number of pigs slaughtered each day plunged by about 40% since mid-March, shipments of American pork to China more than quadrupled over the same period, according to U.S. Department of Agriculture data. tmsnrt.rs/2YLF1XN"
"Year-to-date, about 31% of U.S. pork has been exported, totaling about 838,000 tonnes, according to the U.S. Meat Export Federation. One-third of that volume went to China, accounting for more than 10% of total first-quarter production, the industry group said."
https://www.reuters.com/article/us-health-coronavirus-usa-meatpacking-an/as-u-s-meat-workers-fall-sick-and-supplies-dwindle-exports-to-china-soar-idUSKBN22N0IN