Liberty Farmer on Nostr: Nah, it would be really easy mathematically (not politically) to add small taxes, and ...
Nah, it would be really easy mathematically (not politically) to add small taxes, and reduce the budget by 300-500B annually for the next few years.
You add a small tax for lower income brackets as well. Remove a few silly tax incentives.
That's a 10% cut for a few years, back to 2018 spending levels. Then you can begin to pay off the debt and stabilize it without needing to print money.
This, in addition to lower Fed rates would make the interest begin to drop as they would cycle back into 10,20,30 year bonds instead of tbills and short term notes like the past year.
They then can sell them to the markets again.
This easily buys them a few decades
Will it happen? No.
Can it? Easily.
You add a small tax for lower income brackets as well. Remove a few silly tax incentives.
That's a 10% cut for a few years, back to 2018 spending levels. Then you can begin to pay off the debt and stabilize it without needing to print money.
This, in addition to lower Fed rates would make the interest begin to drop as they would cycle back into 10,20,30 year bonds instead of tbills and short term notes like the past year.
They then can sell them to the markets again.
This easily buys them a few decades
Will it happen? No.
Can it? Easily.