the idea is to cut everything and sell it (privatize) assets to their friends. get ready for the "Yellowstone national park brought to you by the Koch Brothers". on the temporary hardship front: there is no guarantee that if and when we come out of the "hardship" that the dollar will still be the world's currency. the US economy has been propped up and shielded by foreign entities stashing their money in the stability of the dollar, because of the US "brand". that brand came about because the US was (generally) a trustworthy institution. when the trust is gone, so is the dollar as the world standard. "poof". and that's not coming back.
Trump's sycophants who are brand new to the government are going to find out the hard way that the government is a giant ship that moves slowly, and that the federal bureaucracy really doesn't waste a whole lot of money for liberal frivolocities, and that most of the programs, agencies, and regulatory responsibilities the government funds weren't created just willy-nilly and actually have real purposes so if they're cut and defunded it will affect and upset a lot of various constituent groups.
No. Clinton eliminated the deficit (which is the rate at which the debt was growing). He created surpluses, meaning we were slowly paying down the debt when he left office.
The fact that Trump says "there's no price tag" on his deportation plan makes it pretty clear that it isn't about fiscal responsibility at all. I like this explanation by Cory Doctorow on Modern Monetary Theory. He has a number of good blog posts on it, but does a good job explaining it succinctly here:
"If dollars can only originate with the US government, then it follows that:
a) The US government doesn't need our taxes to get US dollars (for the same reason Apple doesn't need us to redeem our iTunes cards to get more iTunes gift codes);
b) All the dollars in circulation start with spending by the US government (taxes can't be paid until dollars are first spent by their issuer, the US government); and
c) That spending must happen before anyone has been taxed, because the way dollars enter circulation is through spending.
You've probably heard people say, "Government spending isn't like household spending." That is obviously true: households are currency users while governments are currency issuers.
But the implications of this are very interesting.
First, the total dollars in circulation are:
a) All the dollars the government has ever spent into existence funding programs, transferring to the states, and paying its own employees, minus
b) All the dollars that the government has taxed away from us, and subsequently annihilated.
(Because governments spend money into existence and tax money out of existence.)"
I know. Let it out. But cynicism aside, you know that we will be there to put it back together in 2+ years for the mouth-breathers who, because food was too expensive, voted for the guy who is going to levy tariffs on all imports. And sure, you're right <sarcasm>: We don't import food (the US is a net food importer...), and China pays tariffs and Mexico pays for walls. Dimwit.
Is two trillion a hard number or just a putative goal someone pulled out of their ass? I'd think you'd want to actually look at what the government does and what all of it costs before just settling on a goal of reducing the budget by a third. That kind of round number shit really smacks of stunt governance.
I don't suppose anyone has talked about the results of simply knocking 7.4% off the top of the our GDP incidentally. All by itself this would make for the 4th worst recession in US history.
Great article! Keep them uneducated…..NCLB was the start……asking schools to do the impossible….call them FAILING…..discourage people from becoming teachers…..pay for charter schools…..national learning standards…..unattainable……it takes a literate populous to support democracy…..UGH
"If Elon and Vivek want to talk to their non-hand-washing, Fox News host friend who will be running the Department of Defense about how to shave military spending, by all means, do so."
On the bright side, everything should be on the level. I can't imagine anyone making a backroom, handshake agreement with that guy. But this info leads me to believe Adam Carolla will be the front runner to head the Department of Health and Human Services.
Does Adam Carolla Wash His Hands After Taking a Sh**?
Let's be clear: trumpism is not about improving systems or structures, especially our Dept of Edu. It's in their best interests to keep the public as uneducated as possible--that's their idea of a "great" America.
the idea is to cut everything and sell it (privatize) assets to their friends. get ready for the "Yellowstone national park brought to you by the Koch Brothers". on the temporary hardship front: there is no guarantee that if and when we come out of the "hardship" that the dollar will still be the world's currency. the US economy has been propped up and shielded by foreign entities stashing their money in the stability of the dollar, because of the US "brand". that brand came about because the US was (generally) a trustworthy institution. when the trust is gone, so is the dollar as the world standard. "poof". and that's not coming back.
Trump's sycophants who are brand new to the government are going to find out the hard way that the government is a giant ship that moves slowly, and that the federal bureaucracy really doesn't waste a whole lot of money for liberal frivolocities, and that most of the programs, agencies, and regulatory responsibilities the government funds weren't created just willy-nilly and actually have real purposes so if they're cut and defunded it will affect and upset a lot of various constituent groups.
Mike, I’ve never met you or Elon but I’m certain you’re smarter than that dude.
I thought Clinton paid off the nat debt as well, or maybe I remember wrong or it was something different…
No. Clinton eliminated the deficit (which is the rate at which the debt was growing). He created surpluses, meaning we were slowly paying down the debt when he left office.
I'm 67, Elon. Define "temporary."
Ugh. That Floyd video...
That Floyd video (or rather the album) was the musical accompaniment to my teenage years. You leave it alone please.
It's not scissors they're running around with, it's straight razors...
Yeah but scissors is funnier
The fact that Trump says "there's no price tag" on his deportation plan makes it pretty clear that it isn't about fiscal responsibility at all. I like this explanation by Cory Doctorow on Modern Monetary Theory. He has a number of good blog posts on it, but does a good job explaining it succinctly here:
"If dollars can only originate with the US government, then it follows that:
a) The US government doesn't need our taxes to get US dollars (for the same reason Apple doesn't need us to redeem our iTunes cards to get more iTunes gift codes);
b) All the dollars in circulation start with spending by the US government (taxes can't be paid until dollars are first spent by their issuer, the US government); and
c) That spending must happen before anyone has been taxed, because the way dollars enter circulation is through spending.
You've probably heard people say, "Government spending isn't like household spending." That is obviously true: households are currency users while governments are currency issuers.
But the implications of this are very interesting.
First, the total dollars in circulation are:
a) All the dollars the government has ever spent into existence funding programs, transferring to the states, and paying its own employees, minus
b) All the dollars that the government has taxed away from us, and subsequently annihilated.
(Because governments spend money into existence and tax money out of existence.)"
I know. Let it out. But cynicism aside, you know that we will be there to put it back together in 2+ years for the mouth-breathers who, because food was too expensive, voted for the guy who is going to levy tariffs on all imports. And sure, you're right <sarcasm>: We don't import food (the US is a net food importer...), and China pays tariffs and Mexico pays for walls. Dimwit.
Fine, I'm still mad.
Will we be back? What if Tiny has Putin style elections ?
Could happen, and then it would be harder, certainly. Best I can do is one day at a time for now.
Is two trillion a hard number or just a putative goal someone pulled out of their ass? I'd think you'd want to actually look at what the government does and what all of it costs before just settling on a goal of reducing the budget by a third. That kind of round number shit really smacks of stunt governance.
I don't suppose anyone has talked about the results of simply knocking 7.4% off the top of the our GDP incidentally. All by itself this would make for the 4th worst recession in US history.
Great article! Keep them uneducated…..NCLB was the start……asking schools to do the impossible….call them FAILING…..discourage people from becoming teachers…..pay for charter schools…..national learning standards…..unattainable……it takes a literate populous to support democracy…..UGH
From my understanding DOE is Energy and ED is Education, FWIW.
Well one thing is for sure. Elmo is going to revolutionize government acronym creation.
Oh yeah.
Close enough.
But Trump hates doges
doge was so funny I forgot to stop sobbing
"If Elon and Vivek want to talk to their non-hand-washing, Fox News host friend who will be running the Department of Defense about how to shave military spending, by all means, do so."
On the bright side, everything should be on the level. I can't imagine anyone making a backroom, handshake agreement with that guy. But this info leads me to believe Adam Carolla will be the front runner to head the Department of Health and Human Services.
Does Adam Carolla Wash His Hands After Taking a Sh**?
https://youtu.be/GUAh0e16iKg?si=TuhfzDRGkngmll9L&t=25
Let's be clear: trumpism is not about improving systems or structures, especially our Dept of Edu. It's in their best interests to keep the public as uneducated as possible--that's their idea of a "great" America.
A dumb populace is the only way republicans can win elections. 2024 is all the proof we need.
We are fucked.