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Joined 2 years ago
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Cake day: July 18th, 2023

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  • While the amount of debt has been ever growing, it hasn’t relative to GDP. When it has grown, it’s grown primarily due to policies from Bush and Trump. Both of these president’s also passed massive tax breaks which is a significant contributing factor to the national debt.

    At the end of the day, the national debt only matters if we can’t pay it. All the cuts being made to federal spending right now are more significant because they will slow down the economy and cause reverberations for years to come (public research and investment are multipliers for the economy in many ways).

    As you call out, we should be taxing billionaires, which points to the larger economic concern right now for America - economic disparity.