Quick Question Regarding the National Debt/Deficit Being "Trump's Fault"

[Here_4_a_Day]

So the TDS suffering marxtards, bawl and whine about our now $34 trillion national debt being all the fault of the, "Trump tax cuts for billionaires." If that's true, how does a state that increases taxes on everything and everyone they possibly can as often as they can, suffer from such an enormous deficit?? How can this state entity, have such horseshit financials, while spending $150 billion more than they are taking in [22% more], when they have no "Trump tax cuts for billionaires?" Weird....

State of California Debt Clock

 

[Here_4_a_Day]

Wow, this one is getting off to a slow start?! And so many great minds on this board.............. 🤣 🤡

 

[Finance85]

Trump's tax cuts are expiring. The individual tax cuts weren't needed and have proved to be on the wrong side of the Laffer Curve. The section of that law that was beneficial was repatriating billions in corporate cash. All that said, income tax revenue still managed to increase. We have a spending problem, not a revenue problem. We need to get federal spending back down to 20% or so of GDP.

California is a different animal than the US Government. Both can borrow, and both pay interest on debt, but California has a few more limitations on how much debt they can take on, and residents can leave for another state. US citizens can't escape quite so easily, and the Treasury can print money.

 

[Here_4_a_Day]

Trump's tax cuts are expiring. The individual tax cuts weren't needed and have proved to be on the wrong side of the Laffer Curve. The section of that law that was beneficial was repatriating billions in corporate cash. All that said, income tax revenue still managed to increase. We have a spending problem, not a revenue problem. We need to get federal spending back down to 20% or so of GDP.

California is a different animal than the US Government. Both can borrow, and both pay interest on debt, but California has a few more limitations on how much debt they can take on, and residents can leave for another state. US citizens can't escape quite so easily, and the Treasury can print money.

If you hit the link, it would seem CA has no limitations.

Once digital currency takes over, there will be no more printing of money!

I already own a home in Portugal............

 

[Sharky1203]

Trump's tax cuts are expiring. The individual tax cuts weren't needed and have proved to be on the wrong side of the Laffer Curve. The section of that law that was beneficial was repatriating billions in corporate cash. All that said, income tax revenue still managed to increase. We have a spending problem, not a revenue problem. We need to get federal spending back down to 20% or so of GDP.

California is a different animal than the US Government. Both can borrow, and both pay interest on debt, but California has a few more limitations on how much debt they can take on, and residents can leave for another state. US citizens can't escape quite so easily, and the Treasury can print money.

He tried to follow the Reagan plan with the tax cuts. Problem was he didn't cut spending. In fact, he spent like a drunken sailor just into port after 6 months at sea. This is my biggest complaint with Trump and don't want him running again. The Dems, well it's spend spend spend and tax more more more. They have always been like that.

 

[Finance85]

If you hit the link, it would seem CA has no limitations.

Once digital currency takes over, there will be no more printing of money!

I already own a home in Portugal............

I don't care about what someone else thinks. If they are reaosnable I'll consider their opinion.

California has to sell bonds to raise money when they operate at a deficit. Their bond rating will determine the interest rate. They are also subject to big taxpayers leaving the state, and it's happening now. They are trading wealthy people and companies for low taxpayers and no taxpayers.

Printing of money is an all inclusive term. Would you prefer "creating money"? That's been happening for decades.

 

[Here_4_a_Day]

I don't are about what someone else thinks. If they are reaosnable I'll consider their opinion.

California has to sell bonds to raise money when they operate at a deficit. Their bond rating will determine the interest rate. They are also subject to big taxpayers leaving the state, and it's happening now. They are trading wealthy people and companies for low taxpayers and no taxpayers.

Printing of money is an all inclusive term. Would you prefer "creating money"? That's been happening for decades.

To point 3, there will only ever be 21,000,000 Bitcoin.

 

[Finance85]

To point 3, there will only ever be 21,000,000 Bitcoin.

I'm well acquainted with BTC and other crypto.

You can bet that if the US Treasury creates their own digital currency, whatever limits or rules they put on it will be broken within a short period of time. The federal government has had no concept of money since Nixon.

 

[Here_4_a_Day]

I'm well acquainted with BTC and other crypto.

You can bet that if the US Treasury creates their own digital currency, whatever limits or rules they put on it will be broken within a short period of time. The federal government has had no concept of money since Nixon.

Yes, that's about as likely as us moving to the metric system! It's us and who again that isn't on the MS? Nevertheless, it's too late, Bitcoin will always be the standard.....there's no catching up now.