RE:RE:US Economy Still Red HotCarbide,
The US federal debt has been growing by an average 5.5% GDP since 2002. During the Obama years it rose by an average $1.16 trillion a year, evenly distributed across all 8 years of his Presidency. So far, the velocity of debt accumulation is somewhat lower under Trump. I prefer to look at values for actual debt as opposed to just the deficit. The deficit can be manipulated by juggling government accounts like social security. Not so for debt where you can’t perform the same accounting magic.Total debt is whatever it is. Obtaining the value is easy. Subtract this year’s federal debt from last years debt. That’s how much more you owe. And you’re right. They owe plenty. That’s why I believe this is a good time to start cutting back on government services, reducing expenditures. This will act as a natural brake on excessive growth, without the need to resort to higher interest rates. With government already shut down, this could be an opportune time to downsize.
Society does not guarantee the same opportunity for every child. It does guarantee a substantial basic education. Aside from natural disasters, adults are expected to provide for themselves and their children. Otherwise, they become a burden to society. If you can’t afford kids, don’t have them. The Earth isn’t suffering from an acute shortage of people. People need to take responsibility and plan their life. Or else you end up with a huge national debt that acts as a drag on future economic growth.