Of course it will last. It HAS to last. G . . . government spending . . . is an increasingly powerful parameter in the GDP equation of GDP = C(onsumption) + I(nvestment) + G + (Exports - Imports). GDP is about 25T. G at 7T is almost 1/3 of it.
You can’t cut spending without cutting GDP. That’s just math and it is inescapable.
It’s too late. It all went too far. There is no solution.
There is always a debt jubilee, an Old Testament solution to a modern financial crisis. All debt public and private is forgiven.
If America as a nation goes into default it will have to forgive all private debts.
Nothing left to do but pour on steam right to the bitter end in a spectacular Thelma and Louise Express off the cliff and into the Grand Canyon.
If it hasn't happened by the Rapture that will certainly finish things off right quick.
It’s too late
She’s gone too far
She’s lost the sun
She’s come undone
Undun
by The Guess Who
But seriously the politicians have to buy votes or there will be chaos, and not from just low-income welfare recipients.
There are a lot of corporations, NGO’s, universities, state and local governments to placate.
You are right there really is no solution. If someone came up with one he or she would be voted out of office and the cycle would continue.
You can’t cut spending without cutting GDP. That’s just math and it is inescapable.
It’s too late. It all went too far. There is no solution.
No, that's Keynesian thinking. Government spending crowds out private-sector activity. Cutting government spending will improve the private-sector economy in the long run.