pull down to refresh
21 sats \ 5 replies \ @Bell_curve 10 May \ parent \ on: U.S. Treasury Cash Surge econ
Surplus means taxes are coming in faster than Congress can spend it.
Deficits and surplus don’t matter. What matters is total expenditures or budget.
Biden latest proposal is 8 trillion dollars budget for the next fiscal year
8 trillion is evil regardless of deficit or surplus
I don't think so. If they spent just as much but were running a surplus because taxes were so high, that would be worse.
I agree though, that most of the time it's a distraction and spending is more important.
reply
Good point about surplus and high taxation.
Spending is the key metric because taxation is what governments spend not what it collects.
I wish people would stop talking about balancing the budget. We can “balance” the budget with high taxes but that trade off is unacceptable
reply
I think it was Ron Paul who said “Spending is the tax.”
reply
And Milton Friedman
Adam Smith and Frederic Bastiat probably said it too.
reply
I don’t think Smith would have said that, but the other two might have.
reply