alt Hacker NewsThe US keeps voting to raise its debt cieling. Theres not end in sight to endless taxation by both parties.
Nobody is reducing spending and delivery continues to go down.
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The fund is not concerned about the debt ceiling. The are concerned about the US threatening invasion of its allies.
The debt ceiling is literally not a problem at all, unless the US were to do something as monumentally stupid as to stop allowing its GDP to grow through trade, and devalue the US dollar, in which case everybody flees US treasuries, resulting in collapse of value, causing more people to flee UST, etc....
The debt hawks are very wrong about the fundamentals of currency, but they are less dangerous than the war hawks in the White House to the US's economic future.
It's one thing to do a epically stupid invasion of Iraq on faked intelligence, which ally support. It's another thing entirely to invade allies. It will totally end US dominance in the world.
> endless taxation by both parties.
How do you run a country without taxation? Can you point at an example?
The US most likely needs to raise taxes if you want to stop constant loans.
Why should taxes "end"?
Congress passed a tax cut last year for the wealthiest as part of the One Big Beautiful Bill (“OBBB”) that increases the debt by $1T-$4T over ten years. What taxation by both parties?
The US pays $800B/year to service debt. It pays $800B-$1T/year for the military. What would you like cut that is discretionary? There appears to be no appetite to raise taxes on the wealthy, pay down debt, and reduce military spending. So US credit card go brrr. We’ll hit a debt spiral eventually.
We don’t need tax cuts, we need higher taxes and less spending on the rich&old. Our welfare system is completely backwards, if you are facing declining fertility and struggling young people - you don’t continue to tax the young to spend on the wealthier generation.
Unfortunately most young people don’t realize they are being hoodwinked and so poll extremely supportive of this scheme.