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re: "Conservatism" has to be more than just a defensive posture
Posted on 4/15/24 at 10:50 am to SlowFlowPro
Posted on 4/15/24 at 10:50 am to SlowFlowPro
quote:
We have to maintain our GDP while drastically cutting spending (which will, in turn, lower GDP, creating the need for more cuts).
You understand this is paradoxal right? Cut spending and you cut GDP. There’s a reason we calculate economic growth this way. What we really need is to grow the private sector and to stop crowding out new loan growth to small and medium sized businesses. Which is not going to happen.
2
Posted on 4/15/24 at 10:52 am to wutangfinancial
quote:
Cut spending and you cut GDP
Not necessarily in a booming economy.
No one has tried it in 20 years.
The GDP will have to drop to "fix" our current issue. The only other solution is massive subsidies, which kicks the can down the road.
This post was edited on 4/15/24 at 10:53 am
Posted on 4/15/24 at 10:52 am to wutangfinancial
quote:
You understand this is paradoxal right? Cut spending and you cut GDP.
quote:
which will, in turn, lower GDP,
Yes, I understand.
quote:
What we really need is to grow the private sector
Already covered, with napkin math.
quote:
Not really possible. Do the math and calculate what sort of GDP increase we will need (assuming no extra government spending and a return in taxers of 20% of GDP).
Every $100B in tax growth will require $500B in private sector GDP expansion. Our current deficit is $1.6T, so just to get even (ignoring the debt), our private sector GDP will have to increase what, $8T?
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