20 upvotes, 2 direct replies (showing 2)
View submission: Elon Musk can’t balance the budget
What's funny to me is every country that did cuts and austerity during the 08' crash and Pandemic all had stagnant GDP and nonexistent recoveries.
The USA spent money and had by far the best economy of the bunch.
Yet the deficit hawks want to do the same type of cuts that haven't worked out anywhere in the world.
Comment by malfive at 26/11/2024 at 15:04 UTC*
8 upvotes, 0 direct replies
But we’re not in a recession or pandemic right now. Keynesian economic policy (I know trump is not one nor does he care) advocates for increased spending during downturns to spur growth and soften the landing, then cut back when the economic is healthy and growing. The deficit was notably eliminated during the Clinton era in the 90s, when we were in a boom cycle.
That said, it’s still stupid to target arbitrarily large numbers of spending cuts without any deeper consideration
Comment by thatVisitingHasher at 26/11/2024 at 02:55 UTC
-10 upvotes, 1 direct replies
But now we’re trillions in debt. We kicked the can down the road for immediate gratification