Frank look at current state of US debt & deficits problem by Fox Business channel
The tax cuts are not paying for themselves, so far. And people are wondering whether the tax cuts will do that in future!
The biggest loser in such unbalanced budget scenarios may be the next generation who were not party to the tax cuts decision, as it is they who may get saddled with the bills that the current generation runs up!
What a very difficult and scary problem such economic policy decisions are! Who knows - maybe the tax cuts will eventually pay for themselves, even if they did not do so in the immediate term. But one thing is clear to me now. This tax cuts without equivalent spending cuts policy decision is essentially a gamble - a very, very big gamble. We will know the outcome of the gamble in the coming years.
Around 6 mins, Published by Fox Business on 12th Oct. 2018: US debt is growing faster than the economy: Maya MacGuineas, https://www.youtube.com/watch?v=jeTDffkyOJM
The biggest loser in such unbalanced budget scenarios may be the next generation who were not party to the tax cuts decision, as it is they who may get saddled with the bills that the current generation runs up!
What a very difficult and scary problem such economic policy decisions are! Who knows - maybe the tax cuts will eventually pay for themselves, even if they did not do so in the immediate term. But one thing is clear to me now. This tax cuts without equivalent spending cuts policy decision is essentially a gamble - a very, very big gamble. We will know the outcome of the gamble in the coming years.
Around 6 mins, Published by Fox Business on 12th Oct. 2018: US debt is growing faster than the economy: Maya MacGuineas, https://www.youtube.com/watch?v=jeTDffkyOJM
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