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re: Budget Deficit?
Posted on 10/27/20 at 12:48 pm to jyoung1
Posted on 10/27/20 at 12:48 pm to jyoung1
The entire deficit/debt problem is one that cant be fixed due to a number of issues.
The incentives are all out of whack.
What politician can tell their citizens:
"im going to charge you more and give you fewer services in order to pay for past excesses....and in the process it's going to result in a calculated recession"
and still get elected?
Gov spending (net of taxes) is a component of GDP. When GDP growth has been dependent on deficit spending for the better part of 20 years no wants to be the person that stops that growth.
You will get blamed for the recession and the longer term benefits that come with the fiscal fix will be enjoyed by your replacement.
The incentives are all out of whack.
What politician can tell their citizens:
"im going to charge you more and give you fewer services in order to pay for past excesses....and in the process it's going to result in a calculated recession"
and still get elected?
Gov spending (net of taxes) is a component of GDP. When GDP growth has been dependent on deficit spending for the better part of 20 years no wants to be the person that stops that growth.
You will get blamed for the recession and the longer term benefits that come with the fiscal fix will be enjoyed by your replacement.
1
Posted on 10/27/20 at 1:08 pm to Sooner5030
Fortunately for the concerned academia now has taken Keynesian theory to it's logical conclusion when humans are in charge and now think deficits are a benefit to tax payers. Good news is they won't have to raise your taxes using this new brain busting logic that defies all of civilized human history 
This post was edited on 10/27/20 at 1:09 pm
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