politics

For the record, government debt isn't bad. What is bad, is how that debt is used. If you use it to fund productivity boosting infrastructure projects, then it pays for itself. If you use it to invest in successful companies in return for shares then it pays for itself... unlike when Tesla got a $400 million gov. loan and gave nothing in return - which meant tax payers had to take the hit when Solyndra (which got money from the same scheme) bankrupted itself into the toilet, tax payers took all the risk and got shafted both when a company failed and when one succeeded.

The Norwegian government, for example, owns 30% of the domestic stock market. One of many strategies the US government should probably be looking to if they want a healthier way to invest in companies.

Using debt to back tax cuts on the other hand, like Trump did according to this article, is an awful strategy.

And half the country thinks we need four more years of this.

Yes let’s focus on the national debt: famous winning issue for progressives.

Or is the goal to catch republicans on hypocrisy? I thought it was clear by now that the republican base literally doesn’t care so long as there is a hooting tooting demagogue that triggers Democrats in the White House.

It's funny the party that keeps threatening to destroy the country over debt is the same party that doesn't think twice when increasing the deficit.

He is still going on about tariffs and here he only made back $45B/year in deficit savings from it. What a dumb shit.

Luckily, we will have trillionaires soon, that can just write a personal check.

This is the best summary I could come up with:

Tax cuts and pandemic relief measures enacted during the Trump administration added $8.4 trillion to the national debt over the 10-year budget window, according to a study released Wednesday by a top budget watchdog group.

The only significant deficit reduction enacted by the Trump administration noted in the report was due to tariffs levied on a variety of imported goods, which are calculated to have brought  in $445 billion over 10 years.

Questions about the budgetary effects of Trump’s fiscal policies have been a point of debate during the ongoing Republican primary.

Ron DeSantis, who dropped out of the race Sunday, have criticized the former president’s willingness to add to the deficit.

While Haley remains in the race, Trump outperformed her in Tuesday’s New Hampshire primary by more than 10 percentage points and appears on track to clinch his third GOP presidential nomination.

The U.S. debt, which stands at about $34 trillion, has been a major focus for Republicans, who have pushed for steep spending cuts after taking control of the House in January 2023.

The original article contains 444 words, the summary contains 175 words. Saved 61%. I'm a bot and I'm open source!