0 sats \ 4 replies \ @Bell_curve 12 Jul \ on: Debt spiral is coming bitcoin
USA interest payments on debt are high but that's not the reason to panic. Total government expenditure is the area of concern.
The solution is to cut spending and not default on interest payments to bond holders and other lenders.
One benefit of interest payments being the highest line item is that voters can see it and politicians can't lie about fiscal irresponsibility.
first
-No government is going to commit to spending less, that is what the government is dedicated to, spending.
second
-There is no fiscal irresponsibility because the interest payment is larger than the defense budget, there is no tax that can match that and if you tell me that you will charge more to large capitals, then they will go to another, friendlier jurisdiction.
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"....No government is going to commit to spending less..." The next government will (one would hope). All things point to that, but nothing is certain.
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At least half of the federal government payroll can be cut and no one would notice except for more efficiency
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We all hope that you do it since the pain of thousands of people can be avoided. but "nothing is certain."
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