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by ProAm 34 days ago
I cant wait to pay for that with my tax dollars.
1 comments

Tax dollars really don't pay for things in the US Federal Government.

Deficit spending leading to an ever rising debt is the source of continued spending. When Debt/GDP grows, we're spending ever more money that we don't have.

Total Debt:

https://fred.stlouisfed.org/series/GFDEBTN

Total Debt/GDP

https://fred.stlouisfed.org/series/GFDEGDQ188S

You're not wrong, but exorbitant deficit spending has its own dire consequences. (eventually) Not that I am telling you anything you don't already know.
What if we just inflate away the debt? Sure, ppl will hate dealing with very high inflation for a few years, and pensioners and whoever buys those trillions of debt will get screwed, but besides that we should be ok?

/s

Then why have tax at all?

Answer to that is indeed this is tax expenditure.

Although rounding error compared to the war.