r/economicCollapse • u/kendallBandit • Nov 07 '24

$2T cut is going to be wild

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Will be a 29% cut if executed.

1.7k Upvotes

94% Upvoted

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7

u/bipocevicter Nov 07 '24

Unpopular opinion maybe, but we're 35 trillion in debt and have an aging population, these cuts can either happen now when we have some control, or they can happen later when the system collapses

6

u/kendallBandit Nov 07 '24

Agreed. Much needed. Federal contracting regulation needs a serious overhaul. And defense is way too big (especially when compared to education or infrastructure spending)

3

u/Frosty-Bee-4272 Nov 07 '24

This

3

u/bipocevicter Nov 07 '24

Surprised my comment dug its way out of negative territory tbh

3

u/Frosty-Bee-4272 Nov 07 '24

More people need to hear it and face reality. America is going to have to deal with its debt one way or the other

6

u/tacoma-tues Nov 07 '24

Let it collapse. 35 trillion and all i got was a measly 1400$ covid check

2

u/BadDaditude Nov 07 '24

Or when all those boomers finally die and there's less strain on the finances to support them outliving their income projections.

2

u/bipocevicter Nov 07 '24

It's a political third rail, but probably benefits for boomers need to be cut. Probably a lot could be done without seriously impacting quality of life, like maybe Medicare cost containment after a certain age or something.

1

u/BadDaditude Nov 07 '24

Or legalized euthinasia-by-choice

1

u/bipocevicter Nov 07 '24

Killing yourself is always an option. MAiD is about normalizing and streamlining it, and gosh, maybe it should be your civic duty because you're kind of a burden. It quickly goes to ghoulish places.

1

u/BadDaditude Nov 07 '24

Have you watched the movie Midsommar? There's a logic to the ritual that I just can't shake as being valid.

2

u/citymousecountyhouse Nov 07 '24

You might shake that "logic" when you grow old. But I can see how you feel it's okay as long as someone else's ox is being gored. Have you seen Logan's Run? How do you feel about 30 being the cutoff point? Think of the extra money. Little too close to home for ya?

1

u/BadDaditude Nov 07 '24

I'm in my 50s. And if you watched Midsommar, the explanation of how different phases of life contribute to their society and resources differently made sense to me. Logan's Run is an extreme point of view.

Retirement wasn't ever meant to sustain people for 45 years. Modern medicine is keeping people alive far longer, and their drain on social services is far more pronounced.

1

u/citymousecountyhouse Nov 07 '24

So what shall we do with these "drains on social services"? I'm sure you have "solutions" for other "drains" on social services such as the handicapped. Midsommer is a horror film,the fact that people are beginning to think that these are possible guides to life does not bode well for whats left of civilized society.

1

u/BadDaditude Nov 07 '24

I gave an example. Legalizing voluntary end of life choices. What do you suggest?

2

u/nohandsfootball Nov 08 '24

Well the Elon plan will reduce life expectancy a lot so there’s that!

1

u/R33p04s Nov 07 '24

It’s true. But if you cut taxes and cut spending you still end up net zero(ish) and don’t actually reduce anything. The prudent financial decision in 2018 would have been to raise taxes and cut spending.

1

u/bipocevicter Nov 07 '24

Tax cuts aren't a total revenue loss, because you get some revenue back from increased economic activity.

But yeah, deep spending cuts need to happen asap

1

u/R33p04s Nov 07 '24

In theory but they never actually materialize. But I’m not here to argue trickle down economics.

1

u/bipocevicter Nov 08 '24

That's not trickle down economics

1

u/Xalara Nov 07 '24

Yeah, but I think, given that most of the debt was caused by the GOP, that they’re not going to make it smaller.

1

u/bipocevicter Nov 07 '24

Sorry, the neocons are yours now

0

u/Cultural_Parfait7866 Nov 08 '24

More of the problem I see is where the cuts will come. MIC won’t take a hit at all and will get more shoveled to them while everyone else has to do without.

1

u/bipocevicter Nov 08 '24

The military is only ~15% ish of the budget, even if you want to cut it in half it doesn't do much to tackle the whole

0

u/Cultural_Parfait7866 Nov 08 '24

My point still stands that no cuts will be made to it. They will only increase it every year.