The national debt is expected to hit a record high as soon as this week, crossing a major threshold of $40 trillion. Congressional correspondent Lisa Desjardins explains why that milestone is a warning sign for many economists.
The national debt is expected to hit a record high as soon as this week, crossing a major threshold of $40 trillion. Congressional correspondent Lisa Desjardins explains why that milestone is a warning sign for many economists.
The national debt is meaningless when it’s invested at home. Often generating many dollars per dollar spent. Everything doesn’t need to be cut. A lot of things need to be expanded. But what absolutely needs to be cut is the income streams of the wealthy including all the loopholes they use. And our spending on Military and wars.
One concern is the amount of debt held internationally.
No, don’t you realize that cutting childhood vaccine programs is NEEDED. If we don’t let these children get sick and develop lifelong illness that prevent them and their parents from working and bringing in tax revenue then… wait a second, that doesn’t sound right…
Well, what we really need to do is cut down the IRS. All those agents are just budget bloat. We can go without them investing tax evasion and bringing in revenue… wait a second…
We’ve had empirical evidence as early as the 70s that investment in ourselves is a huge boon to the economy but people still don’t want to see that. If I remember correctly, every 1 dollar invested in early childhood education programs returns 7. Cutting isn’t just bad in the short term, it’s a compounding issue that makes future revenue lower. The military really is one of the few things it makes sense to say we should cut as a blanket statement.