#MyThoughts –
#USA national debt is 40 times what it was 45 years ago, when it was considered astronomical.
The govt's "money-out" is much greater than "money-in."
It must raise revenue (⬆️ money-in) & reduce spending (⬇️ money-out). Lowering taxes on wealthy & corporations will ⬇️ money-in. Pursuing wars & kicking tax-paying immigrants out will ⬆️ money-out.
Tariffs won't substitute for taxes because they're unreliable & ultimately unsustainable
#USpol #trump #USeconomy
And another thing –
One of the screenshots in the previous post of this thread 🧵shows how the interest rate on US debt is $970 B, or upwards of a trillion dollars annually (truly mind blowing!).
The #TrumpAdmim seeks to lower interest rates not just to promote growth (as it lowers borrowing costs for businesses), but also to get a better deal on financing US debt.
/4🧵
(continues...)
#USA #US #USPol #USEconomy