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David E Lewis's avatar

Agreed. Tapper and Thompson are way off base.

There is, however, a major conspiracy of evasion that persists to this day. It's a direct result of the way we finance our campaigns.

Neither party is able to say what is true - the US does NOT have a spending problem, the US has a revenue problem.

The US (along with many other developed economies) needs to raise taxes.

Trump and Elon, two fantasists, convinced enough Oligarchs that there was a way to not just make Trump's "temporary" tax cuts permanent, but to cut them further. DOGE's failure to find those trillions in wasteful spending is not just egg on Elon's face, it exposes the lie behind the Oligarchs' fantasy.

And the Big Beautiful Bill got through the House anyway. This is major whistling past the graveyard stuff.

Ever since 2011 (or so) the US has been kicking the can down the road. Revenues needed to be raised from the wealthy who had disproportionately benefited from the bail-outs.

Who knows, maybe people were worried about another Clinton coming in and raising taxes and THAT fear was what put Trump in office.

Regardless, our Oligarchs have pushed our economy into a corner from which it won't escape without pain.

We will not be able to double the national balance sheet from here no matter how effective the propaganda campaign against the CBO proves to be.

The math doesn't math.

As former NY Fed President Bill Dudley wrote:

"No less important is the US government’s dire and deteriorating fiscal position. The budget deficit was 23% larger in the first seven months of this year than in the same period last year. The Congressional Budget Office estimates that Trump’s “One Big Beautiful Bill Act” will add $2.3 trillion to the deficit over 10 years — and that’s based on some improbably optimistic assumptions. It’ll be much larger if there’s a recession, borrowing costs keep rising, popular tax cuts (such as on tips and overtime) are extended rather than ending in 2029, trade policies undermine productivity or immigration crackdowns curtail labor supply."

https://www.bloomberg.com/opinion/articles/2025-05-30/bond-market-s-faith-in-america-is-facing-a-severe-test

It really doesn't take a genius to figure out the above.

It just takes not being a megalomaniacal fantasist.

Trump and Elon with their Oligarchic friends have walked the US economy off a cliff. There is no new equilibrium at anywhere near current prices.

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Rich's avatar

Don thank you for your mention of the actual harm to individual’s lives and the lives lost with the overnight shut down of U.S. A.I.D.

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