Do you care that the Gov't is spending all that money?

[task0778]

This I agree with: "most Americans want their kids and grandkids to be better off than they are/were,"

The national debt is a concern, yet the costs and debt will be over a decade, and the benefits will benefit our posterity. We can't forever kick the can down the road and that defines fiscal conservatism. Cutting taxes and doing nothing has been on going the past forty years.

It seems people like you think a Trillion Dollars doesn't have cost benefits, and is going to amass a great debt. Taxes paid by skilled labor repairing or replacing and building a new bridges, canals, heavy and light rail will bring forth user fees; adding two years of free education in Community Colleges will benefit American Citizens in elementary school now (to be able to challenge children from foreign nations taking good paying jobs for our kids and grandkids); fees and fines to the private sectors for lateness in the contract and/or failure to pass inspection; the millions of workers who will spend on Main Streets in all communities which see fit to compete for their needs.

I am aware of the cost benefits of gov't spending AND cutting taxes, the US got a nice bump in economic growth as a result of Trump's tax cuts. It seems though that people like you don't seem to factor in the inflation that Biden's massive spending is going to create, and actually has already started to take effect. And I highly doubt we will see the benefits amount to as much as those on the Left think. And I think the Left ignores the negative effect that raising taxes has on economic growth.

According to the NY Times link below and updated just last week, the CBO projects Biden's deficit in 2021 to be approx $3 trillion, and that was as of May 18th of this year, and that doesn't count the recent bipartisan $1.2 trillion Infrastructure bill that hasn't been signed into law yet, or the much larger $3.5 trillion bill that the Dems want to ram through in reconciliation. And who knows what else after that. If anyone believes all of that spending will be paid for, they are simply crazy, or that the benefits will be anywhere near worth it.

I believe that the debt will rise in Biden's 1st four years far in excess of Trump's $6.7 trillion. JMO, much depends on whether the Dems can keep the House in 2022 and their Senate majority.

Budget Deficit Projected to Hit $3 Trillion as Pandemic Spending Buoys Economy (Published 2021)

Stimulus spending will help fuel economic growth and erase pandemic job losses, according to a new report from the Congressional Budget Office.

www.nytimes.com

 

[rightwinger]

Do you even read other poster's sources when you know it doesn't match your own take? A true question, not being snarky. Because you left out percentages, I can say you didn't read mine.

If I thought you wanted to compare notes about Obama's expenditures with having a much greater percentage in increased spending compared to his predecessor GWB, outweighing Trump's percentage increase from Obama's last term in 2016, I'd spend the time looking for multiple sources to support my facts. This comparative about overspending is accurate, but looking how both sides overspend it just doesn't make sense to support any overspending which has led to production of new money, that is (as the norm) followed by another adjustment of interest rates. What a balancing act.

Actually, after eight years of Republican griping about Obama debt and promising a balanced budget…….Trump was a DISASTER

Even before COVID, Trump ran up trillion dollar deficits. That was with his self proclaimed record economy.
Once COVID came, there was no stopping him. $3 trillion deficits.

Now, Biden inherits that same COVID economy and tries to bring is to recovery. What do Republicans do?

Start whimpering about debt again

 

[ClaireH]

Actually, after eight years of Republican griping about Obama debt and promising a balanced budget…….Trump was a DISASTER

Even before COVID, Trump ran up trillion dollar deficits. That was with his self proclaimed record economy.
Once COVID came, there was no stopping him. $3 trillion deficits.

Now, Biden inherits that same COVID economy and tries to bring is to recovery. What do Republicans do?

Start whimpering about debt again

Again, both sides overspend. Blaming one and not another doesn't help anything. All administrations that have passed the buck are accountable, not one, not two but numerous consecutive administrations. The one thing ole Willy got right.

It's worth clarifying here that presidents alone are not responsible for the rise and fall of the federal deficit. Blaming only one side isn't reality, but I trust you'll continue to do so.

 

[Ringo]

In fact, such epic failures will happen more and more often for the capitalists. Money is no longer just distributed, and then stolen, but immediately stolen. Capitalism has entered an irreversible phase of eating itself up

 

[Woodznutz]

Debt...schmebt. An expanding population and economy needs more money, which is met by government printing and borrowing, deficit spending. How can you have too much of a good thing? Also, there is no financial equity in a fiat money system, all financial 'assets' are debt (Yikes!).

"Economics has always been a mystery to me." -Henry Kissinger (arguably a very smart person).

 

[Mikeoxenormous]

In fact, such epic failures will happen more and more often for the capitalists. Money is no longer just distributed, and then stolen, but immediately stolen. Capitalism has entered an irreversible phase of eating itself up

It isnt capitalism, but cronie capitalism where the government picks the winners and losers, but most progressives cant see this, because of liberal thinking.

 

[task0778]

In fact, such epic failures will happen more and more often for the capitalists. Money is no longer just distributed, and then stolen, but immediately stolen. Capitalism has entered an irreversible phase of eating itself up

Where did this shit come from? Who wrote it? This total crap.

 

[Ringo]

It isnt capitalism, but cronie capitalism where the government picks the winners and losers,

No other capitalism has ever existed and cannot exist.

 

[Mikeoxenormous]

No other capitalism has ever existed and cannot exist.

Again, true capitalism where every person is responsible for their own worth, trade and honesty, once the corrupt government stepped in and moved US towards a socialist society, cronie capitalism has become the new norm especially with Ho Joe Biden in charge. Ho Joe is owned by China...