Comment by alabastervlog
7 days ago
Well the good news is that there are multiple plausible paths forward.
The bad news is that they're all terrible.
7 days ago
Well the good news is that there are multiple plausible paths forward.
The bad news is that they're all terrible.
The usual not terrible, not great solution is to keep the debt kind of constant and eventually it gets inflated away.
We mostly abandoned the long-term viability of that in the Bush years with the tax cuts plus expensive wars, and doubled down in Trump's first term (more tax cuts). That exhausted our margin for responsible emergency debt spending, and we had two crises on top of it (as always happens from time to time) so we were down to just playing for time and hoping for a way to spread out the pain rather than let it hit all at once.
We now do not appear to even be playing for time and are rushing toward the "all at once" thing.