I've never felt so alienated from the leaders of my industry, from my politicians, and from my fellow citizens. Ya'll should have known better. It is the information age, all ignorance is willful ignorance.
That debt is never getting paid, I'm afraid.
Can't mortgage the economic future of the US forever (which is what treasuries are, borrowing off of future US taxpayer revenue), as the bond market is actively demonstrating. Something will give, even if that is "monetizing the debt" and a soft default, with US purchasing power rapidly declining. Pick your crisis adventure, the message is this fiscal policy is unsustainable.
The only real solution is to enforce the actual debt ceiling, the begin lowering it a few hundred billion each year, destroying things we don't need. Require all new spending be funded by the 2.5x destruction of existing spending and departments.
That has been one of many failures of the Dems to both pursue and socialize.
It's also majority private sector funded, and numerous admins have made substantial changes to the White House.
Bush 2 and Obama made substantial renovations to the White House, as did Clinton.
Trump has a massive and growing pile of rightful criticism and you're focusing on a project which costs 1/1,000th the cost of the Iran War and Obama staffers admit is necessary? Priorities?
Social Security hurtles towards a cliff while it has a 'fix everything easily' button because no large scale reform is possible until it's the very last minute or far too late, then a sloppy and terrible solution is rammed through full of more pork.
The popular narrative is that one party is the party of fiscal responsibility and the other is fiscally wasteful. But the data don't really bear that out, and it's arguable that the opposite may be true.
I'd contend that yes they both need to be incentivized as such, but also a necessary but not sufficient step is to halt the narrative that one party is the one who cuts the waste.
latchkey•46m ago