In the last 15 years we had 9 years of 1T+ deficits. One may feel nominally their net worth is higher but in real terms may be falling behind.
It is not just the inflation, even at some level government deficits matter.
1 Like
OK, but what’s the alternative? Are you for raising taxes? Or cutting spending?
Where?
I guess it has to be both raising taxes and cutting spending. In any case, let us not get into this discussion. My point is not discussing the causes, but the effects of the deficit on our wealth.
Solving this problem requires politicians to have intestinal foritude. In an election year, I think that is unlikely. I expect them to kick the can down the road until after the election. Maybe commissioning a study to look into the matter.
This subject is before Congress now in the efforts to avoid a shutdown. Kicking the can is the best we can hope for I fear.
1 Like