Yeah, and we'll see how this sack of shit CEO actually feels about cutting "entitlements" the next time the banks make a fortune blowing up a bubble, then look to the Fed to bail their asses out when it inevitably pops.
this post was submitted on 15 Nov 2023
54 points (95.0% liked)
politics
19156 readers
2963 users here now
Welcome to the discussion of US Politics!
Rules:
- Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.
Example:
- Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
- Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
- No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive. Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
- Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
- No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
founded 2 years ago
MODERATORS
And THAT is why fascism has been able to take such root; these bastards want Trump to win, why the hell would they help Biden? He ain’t gonna drop their taxes.
Goddamn country is fucking broken. Fucking pathetic
This is the best summary I could come up with:
Republican presidential candidate Nikki Haley says she got a call from JPMorgan Chase CEO Jamie Dimon about the national debt level and on cutting federal retirement and medical insurance programs.
“Entitlements” is a term frequently used by politicians in Washington to refer to Social Security, Medicare and Medicaid, which are the national retirement, disability and medical insurance programs, respectively.
The total nominal national debt stands at around $33 trillion, or around 120 percent of gross domestic product (GDP), though a significant portion of that is due to the way the Treasury does its accounting.
The economics profession has long focused on ‘debt held by the public,’ currently equal to about 98 percent of GDP at $26.3 trillion, for assessing its effects on the economy,” wrote Kent Smetters, a professor at the Wharton School at the University of Pennsylvania, in an October analysis.
“We estimate that the U.S. debt held by the public cannot exceed about 200 percent of GDP even under today’s generally favorable market conditions,” he wrote.
“Under current policy, the United States has about 20 years for corrective action after which no amount of future tax increases or spending cuts could avoid the government defaulting on its debt whether explicitly or implicitly.”
The original article contains 555 words, the summary contains 204 words. Saved 63%. I'm a bot and I'm open source!