kyzr
Diamond Member
Trump's 2019 Budget was $4T with revenue at about $3T.The conservative way of handling this is for the government to stop spending more than it takes in.
Cut everything that's not a "have to do" kind of thing. You gotta pay social security benefits. You gotta pay for medicare. Those are a given. But cut out all the BS spending and reduce the size and scope of government to what only the US constitution allows.
No more pork. No more nation building and getting ourselves into wars FOR other countries. And no more a lot of things.
Then, and only then, after you cut all the BS spending, ways to make money that doesn't cost the American tax payer extra (Not like Trumps retarded trade war with China). I don't necessarily support nationalizing oil. But it would be something to consider.
Then you see how much the people need to be taxed. Maybe tax increases are what's needed.
Seems every time we get a tax cut, the value of the USD eats all of that up and we're right back to where we started. And the government ends up with more money.
Also, we need a federal Reserve who'll start taking money out of the economy to help reduce inflation. The Fed needs to go back to keeping the USD value in check. Because for the last 50 years, they've neglected that part of their responsibility.
Biden's Budgets are running about $7T with revenue about $4T.
Totally agree that we need to cut spending to 2019 levels, fix SS & Medicare, and then cut spending even more.
After that pass a new Balanced Budget Amendment.
Even then we are not good, the interest on the Debt will still be about $1T to $1.5T a year until we reduce that $33T Debt.