Maddog wrote:The US is at about 107% debt to GDP and 5% annual deficit to GDP.
Membership in the EU requires 60 and 3 percent respectively. The US couldn't join the EU based on its debt.
Nobody of either party gives a shit. Democrats never did and Republicans are now kissing Trumps ass.
The economy here is good, but Trump knows it has to stay that way if he wants to win the next election. Lowering the rates would keep it going until at least after the election.
Rates are already stupid low. 15 year loans for houses are below 3%.
When the day of reckoning comes, its going to be ugly.
Based on the economic history of the United States I have to disagree with your characterisation of the parties.
It is true that during the times when Democrats are in power the Republicans have a 'come to Jesus' moment about balancing budgets but the rest of the time they're all for spending by X and taxes by 2X which can only grow the deficit
By contrast the Democrats generally want to raise taxes by 2X in order to spend X, which will have the effect of shrinking the deficit and debt.
I know that for ideological reasons you always favour tax cuts and spending cuts of any kind, never seeing that the tax cuts benefit only the wealthiest and the spending cuts persecute only the most vulnerable, but that's a different matter
Earning, or if you want to call it stealing go ahead, $100 and spending only $50 leaves you $50 ahead
Giving away $200 to get back $100 only leaves you $100 deeper in the hole.
[quote="Maddog"]The US is at about 107% debt to GDP and 5% annual deficit to GDP.
Membership in the EU requires 60 and 3 percent respectively. The US couldn't join the EU based on its debt.
Nobody of either party gives a shit. Democrats never did and Republicans are now kissing Trumps ass.
The economy here is good, but Trump knows it has to stay that way if he wants to win the next election. Lowering the rates would keep it going until at least after the election.
Rates are already stupid low. 15 year loans for houses are below 3%.
When the day of reckoning comes, its going to be ugly.[/quote]
Based on the economic history of the United States I have to disagree with your characterisation of the parties.
It is true that during the times when Democrats are in power the Republicans have a 'come to Jesus' moment about balancing budgets but the rest of the time they're all for spending by X and taxes by 2X which can only grow the deficit
By contrast the Democrats generally want to raise taxes by 2X in order to spend X, which will have the effect of shrinking the deficit and debt.
I know that for ideological reasons you always favour tax cuts and spending cuts of any kind, never seeing that the tax cuts benefit only the wealthiest and the spending cuts persecute only the most vulnerable, but that's a different matter
Earning, or if you want to call it stealing go ahead, $100 and spending only $50 leaves you $50 ahead
Giving away $200 to get back $100 only leaves you $100 deeper in the hole.