I keep hearing these stories, but lack empathy. Do these people not realize that they sent someone to the unemployment line, or shuttered a business, when they started manufacturing or sourcing there products from places abroad with cheap labor.
Is there anything that those who benefit most from social security should have to do to save the program?
The answer always seems to be tax the rich more. From a standpoint of principle, when is it fair to ask those who will benefit the most to sacrifice?
So there would be a bit of a "detox" period as we adjust to less government spending. That's my only point. I don't find the administration's statement wild. The government spending $900 billion less than they did in the previous year is a big deal.
1) Is there any evidence that the crowding out effect is occurring? Private sector spending has remained robust. And isn't there a counter argument that if spending is on productive investments (infrastructure, CHIPS) that it has a stimulative effect?
2) This seems to neglect the...
Looking at charts. For the last 30 years we have spent around 20% of GDP except for the financial crisis (2009-24.3%) and Covid (2020-30.7%). After the financial crisis spending fell back to 20% of GDP by 2012. In 2024 we spent 23.4% of GDP. The government has spent a lot of money the last 4...
That’s all a little disingenuous. Don’t you think? The difference between spending 20% of GDP and 23% of GDP is like $900 billion dollars. Those dollars are certainly circulated through the economy and have a stimulative effect.