With respect. I worked at the Congressional Budget Office between college and graduate school in economics. You are not only wrong here, you are way, way out of your depth. Sorry.
Re Ferguson's comparison about US debt service vs. US defense budget. The outstanding debt could easily be reduced in the future if the US could repeal the Bush and Trump era tax cuts whose benefits l flow largely to the top end of the US income and wealth distributions. If you want to be really cynical you could say that the refusal of the US political donor class to pay its fair share of the US tax burden is a key driver of US isolationism (the other being Trump's affinity for dictators). America's funding for Ukraine defense has amounted to chump change in the US budget -- and yet Republicans claim that "America doesn't have the money."
The US political donor class has taken US power for granted. The US has been powerful for so long, that few people remember how the US built its power or how to maintain it. Furthermore, that class is incredibly shortsighted. By off-shoring the US industrial base, refusing to pay taxes, and by supporting Trump's anti-democratic movement, they are destroying America's attractiveness as a place to do business.
With respect. I worked at the Congressional Budget Office between college and graduate school in economics. You are not only wrong here, you are way, way out of your depth. Sorry.
I don't think so. The CBO does everything straight line.
Re Ferguson's comparison about US debt service vs. US defense budget. The outstanding debt could easily be reduced in the future if the US could repeal the Bush and Trump era tax cuts whose benefits l flow largely to the top end of the US income and wealth distributions. If you want to be really cynical you could say that the refusal of the US political donor class to pay its fair share of the US tax burden is a key driver of US isolationism (the other being Trump's affinity for dictators). America's funding for Ukraine defense has amounted to chump change in the US budget -- and yet Republicans claim that "America doesn't have the money."
The US political donor class has taken US power for granted. The US has been powerful for so long, that few people remember how the US built its power or how to maintain it. Furthermore, that class is incredibly shortsighted. By off-shoring the US industrial base, refusing to pay taxes, and by supporting Trump's anti-democratic movement, they are destroying America's attractiveness as a place to do business.
Taxing the rich more will have no effect on the US fiscal deficit. Budget cuts need to be made. Raising taxes will have a negligible effect.
Regulation and wokeness have more to do with US attractiveness in doing business then your alleged Trump "anti-democratic movement".