Absolutely agree, but linking a story about Joe Manchin playing to his WV base ahead of a reelection campaign does nothing to demonstrate that point.
We could save $50+ billion dollars yearly if we quit giving it to other countries all the time. I think it's time for the US to focus on itself before trying to give everyone else a face lift.
www.democraticunderground.com
www.thesimpledollar.com
Our international leverage, global economic power and status as the global reserve currency has allowed this nation to have lifestyles far higher than we ever could if we had stayed within our borders. That $50billion pays back 50x to our economy and ability to run deficits. If the US allows itself to be replaced by China as the go to country, we will be lucky to be a stumbling UK and worst case a large Greece/Italy. Isolationism is a death sentence for American standards of living.
Agree, but sometimes we are too free with the money. I will use NATO and Ukraine as examples, on board with the alliance and sending help to Ukraine, but our big contributions has allowed other countries to duck their obligations.
Too much of the debate is over taxes or spending. That is too generic. It has to be both. The CBO report showed we could cut all discretionary categories to ZERO and would still have a deficit. The problem is SS and Medicare and ignoring them is a national pastime. Boomers are too large of a voting block and a lot of them spend their days trying to find something to be scared about. We also need to get people working. Labor force participation is still not back to pre-pandemic levels. Too many qualified people left the workforce and we don't invest in things that allow them to work (like childcare). We also need to get people off the government teat. There are 90m people on Medicaid!!! I don't mind helping people get back on their feet, but I feel like somethings off. Corporate taxes need to go up. Profit margins are still at record highs and it goes back to 2017 tax changes. Basically, you can see from the list that everyone is going to be pissed off with any solution, ranging from a little to a lot. So politicians fight about who is at fault or who wants to make it unfair for "you".
You crypto people are your own worst enemy. What is bitcoin over the last year, down 30%? why? Probably all the fraud. Damn things make gold look like a great investment.
I’m not a crypto guy but you better draw a chart with a little longer time horizon
$50B is a meaningless when compared to the $1.3T deficit in 2022.
No, actually I don't. If the argument for crypto is some sort of immunization from fiat inflation, all I have to show is that during the highest inflation in 40years the value of the crypto gets cut by 70%. Not a good look.
In the abstract, our descendants will be drenched when the bill comes due. We don't know when or how badly, but we can extrapolate the trendline when no intervention is forthcoming. Economy, environment, health, longevity.... pick a topic. So many ways for it to go badly and so few to go well.
No one is saying there isn't negatives to crypto. If all you look at is the negative sides of everything then you'll never be happy. You mention the 30% fall, yeah its a new and volatile market in respect to the stock market, it's going to be volatile. You'd say the exact same thing about the stock market at it's inception that you say about crypto today. Case in point, the great depression. Yet I'd wager you put your faith in that same stock market today. To think fraud doesn't reach the stock market then you're ill guided in your investment research.
When it comes to my money, all I look at is the negative side.
