Federal Reserve Chair Jerome Powell gives his thoughts on inflation risks, the economy, the timeline for cutting rates, the health of the country’s banks and...
It’s a presidential election year; time for every single Republican to suddenly start talking about a “debt crisis” that for some reason didn’t exist while they were running up record deficits to cut taxes for the wealthy.
He could certainly make a suggestion. Congress is the one that has us on an unsustainable path and he has no problem pointing that out; so why not a solution?
It’s a presidential election year; time for every single Republican to suddenly start talking about a “debt crisis” that for some reason didn’t exist while they were running up record deficits to cut taxes for the wealthy.
Not just cut taxes for the wealthy but hand out $2T in cash to wealthy people/companies while us regular people collected the falling pocket change.
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Cool, why doesn’t he talk about eliminating the carried interest tax dodge for the wealthy?
Because he’s being paid not to
He’s also a bureaucrat, not an elected official who can change the tax laws. He literally has no standing when it comes to making laws.
He could certainly make a suggestion. Congress is the one that has us on an unsustainable path and he has no problem pointing that out; so why not a solution?
And elected officials would have a fit if he did, 'cause it’d be crossing into their legal territory.
The national economy of a global imperial power doesn’t follow the same rules as your friend who’s always broke a few days before pay day.
Talking about one like it’s the other is either proof of ignorance or an obvious attempt to deceive.
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National debt is not the same thing as spending more than you make.
Have you taken an economics class before?
How is it the federal debt and the public debt are perfectly aligned in that chart? Are those labels wrong? Am I missing something? Seems sus…
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Short answer, I misunderstood. “Debt held by the public” sounds like my credit card debt, but it’s not. That is (obvious now) private debt.
https://www.crfb.org/papers/qa-gross-debt-versus-debt-held-public
https://research.stlouisfed.org/publications/page1-econ/2020/03/02/making-sense-of-private-debt