Democrats: Increasing taxes will reduce the deficit.
Republicans (including Trump): Cutting taxes will reduce the deficit.
Yet the deficit continues to grow. Spending continues to outpace revenue. I’m beginning to think that everyone in DC is lying to us. They really don’t care about the deficit at all. Let the grandchildren of us peasants worry about it.
Republicans (including Trump): Cutting taxes will reduce the deficit.
Modern Monetary Theorists: If you have the world's reserve currency deficits don't matter.
It would be one thing if the deficit was increasing due to investment in infrastructure or research, it is another thing entirely that the deficit increases because we transfer income from one American to another. But FedGov spent all the money it has taken in “trust” funds, so the only was to pay back those dollars is through higher taxes or through inflation. I don’t think there is a big appetite to feed more money into the one-armed-Washington bandit. It’s interesting to note when the 13th amendment passed in 1913, what at the time cost $500, would cost more than $12,826 today.
“Yet the deficit continues to grow. Spending continues to outpace revenue. I’m beginning to think that everyone in DC is lying to us. They really don’t care about the deficit at all. Let the grandchildren of us peasants worry about it.”
There will never be another elected politician that does anything real to REDUCE the deficit, much less the accumulated debt.
All reward and positive reinforcement is on the spending side. Actual cuts to spending will result in being fired from the best job in the world.