Given the size of the US economy that is peanuts. Bill Clinton managed to pay for Israel and have a balanced budget. The real truth is that the US has cut taxes for the rich. That meant less income and still old levels of spending, hence more debt.
The problem is it’s no longer peanuts. The debt is larger than gdp and the debt payments are the largest government budget item.
We’re already in a crisis of not being able to afford anything and the debt is large enough to crowd that out.
For sure, tax cuts for the wealthy are a huge part of it, but so has the recent destruction of our economy and trade, random use of the military.
FYI - I believe Bill Clinton mostly grew his way out of debt. Hold things steady while growing the economy (so debt is lower percentage), bringing in more tax income, and lowering interest rates. We’re doing the opposite of all three
He did it partially by cutting Americans benefits.
We could be so much better if we actually taxed the wealthy, stopped funding Israel and invested in the country.
Sadly we have too many people who believe they would be effected by those tax increases because the country is extremely anti education precisely to keep them that way
Given the size of the US economy that is peanuts. Bill Clinton managed to pay for Israel and have a balanced budget. The real truth is that the US has cut taxes for the rich. That meant less income and still old levels of spending, hence more debt.
The problem is it’s no longer peanuts. The debt is larger than gdp and the debt payments are the largest government budget item.
We’re already in a crisis of not being able to afford anything and the debt is large enough to crowd that out.
For sure, tax cuts for the wealthy are a huge part of it, but so has the recent destruction of our economy and trade, random use of the military.
FYI - I believe Bill Clinton mostly grew his way out of debt. Hold things steady while growing the economy (so debt is lower percentage), bringing in more tax income, and lowering interest rates. We’re doing the opposite of all three
I am not talking about the debt of the US, but what the US pays Israel being peanuts compared to the kind of money the US government has.
He did it partially by cutting Americans benefits.
We could be so much better if we actually taxed the wealthy, stopped funding Israel and invested in the country.
Sadly we have too many people who believe they would be effected by those tax increases because the country is extremely anti education precisely to keep them that way