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Top U.S. Politics Topics

Why Tim Walz Received an 'F' in Cato's Fiscal Report Card, Ranking Dead Last of 50 Governors

The Take (by Jon Miltimore) • 356 implied HN points • 21 Oct 24
🇺🇸 U.S. Politics Governance Tax policy Fiscal Responsibility
  1. Tim Walz received an 'F' for poor fiscal management, ranking last among all US governors. His spending increased substantially while taxes were raised significantly.
  2. Despite a budget surplus of $18 billion, Walz overspent and added more taxes, which has led to predictions of future budget deficits for Minnesota.
  3. High-income earners are leaving Minnesota due to these fiscal policies, worsening the state's economy and reducing tax revenue as people seek better conditions in states with lower taxes.

The US Is Not Broke

Doomberg • 6730 implied HN points • 13 Feb 25
💰 Finance Economic Policy Fiscal Responsibility Investment strategy Debt Management
  1. The US has a very high level of public debt, but the situation is not as hopeless as it sounds. There's still a lot of flexibility in managing this debt.
  2. Experts suggest the US might be in a state of 'fiscal dominance,' meaning traditional monetary policies might not work effectively anymore. This makes managing the economy tricky.
  3. The current administration has experience with managing debt and can take steps to improve the financial situation. The President has options to deal with the debt and is not completely stuck.

⏩💳 How faster growth can offset America's debt problem. Really.

Faster, Please! • 913 implied HN points • 16 Dec 24
🇺🇸 U.S. Politics Economic Policy Debt Management Fiscal Responsibility Political strategy Government spending
  1. Faster economic growth can help reduce America's huge debt. If the economy grows by 3-5% each year, it can balance out the debt problems.
  2. Reforming big entitlement programs like Social Security and Medicare is essential. Doing so can both lower future spending and make these programs work better.
  3. While some people are skeptical about economic growth solving debt issues, it shouldn't be completely dismissed. A stronger economy can really aid in cutting down debt over time.

Why Create a Dept. of Gov Efficiency: an Econ Crash Course

The Save Journalism Committee • 309 implied HN points • 18 Nov 24
🇺🇸 U.S. Politics Government Efficiency National Debt Economic Policy Fiscal Responsibility Public Spending
  1. America's current debt situation is very concerning and lacks sustainable solutions. The debt is projected to keep rising if nothing changes. People need to be aware that just managing the debt isn't enough.
  2. Creating a Department of Government Efficiency (DOGE) could help address inefficiencies in government spending. This could potentially free up funds to invest in areas that would promote economic growth.
  3. Governments can use debt to invest in the future, but they must do it wisely. If loans aren't used effectively, it can lead to rising inflation and more problems down the line.

Deficit-to-GDP Ratio Near World War II Levels, CBO Finds

QTR’s Fringe Finance • 18 implied HN points • 07 Feb 25
💰 Finance Debt Management Budgeting Economic Policy Government spending Fiscal Responsibility
  1. The U.S. government is facing huge deficits, with the deficit expected to be around 6.2% of GDP in 2025. This level hasn't been seen since World War II.
  2. Federal spending is outpacing revenue, primarily due to rising costs for programs like Social Security and Medicare. This is leading to increasing government debt.
  3. Despite the seriousness of the debt problem, it hardly gets discussed in politics, meaning there's little pressure to change how spending is managed.
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Republicans Should Aim for Canada-Size Cuts

QTR’s Fringe Finance • 16 implied HN points • 05 Feb 25
🇺🇸 U.S. Politics Federal Spending Economic Policy Fiscal Responsibility Political Reform
  1. Canada did well economically in the 1990s after making big cuts to spending and focusing on privatization. This shows that similar actions could help stabilize a country's finances.
  2. In the 1990s, both Canada and the U.S. managed to cut spending successfully. However, Canada stuck to its cuts longer than the U.S. did, which helped their economy grow.
  3. To avoid a financial crisis, the U.S. government needs to consider making substantial and sustained cuts to spending, similar to what Canada achieved. A goal of reducing spending by a few percentage points of GDP might help stabilize the economy.

Governmental Efficiency: What Can It Possibly Mean?

The Good Science Project • 167 implied HN points • 20 Nov 24
🇺🇸 U.S. Politics Government Efficiency Public Policy Fiscal Responsibility
  1. Cutting a lot of government jobs might not really save much money. Most spending comes from bigger programs like Social Security and Medicare, not just employee salaries.
  2. Firing workers randomly can hurt important services that people rely on. Instead of cutting jobs, we should focus on fixing how agencies work to make them more efficient.
  3. There are better ways to improve government without just slashing budgets. Setting clear goals and using technology to make processes easier can lead to more meaningful changes.

Politicians Won’t Solve Our Spending Problem Unless We Make Them

QTR’s Fringe Finance • 17 implied HN points • 09 Jan 25
🇺🇸 U.S. Politics Political Reform Government spending Party Politics Fiscal Responsibility
  1. Politicians often make big promises about cutting spending but don't follow through. It's easy to talk a big game when they're not facing any real consequences.
  2. Recent events show that only a few representatives are seriously committed to actual spending cuts. Many just go along with the flow when pressure builds.
  3. We need to actively push politicians to keep their promises and make real changes in government spending, as they won't do it on their own.

Nixon, Gore, the paths not taken

America in Crisis • 99 implied HN points • 24 May 24
🇺🇸 U.S. Politics Economic Policy Presidential elections Fiscal Responsibility Political theory Government actions
  1. The end of the postwar economy was marked by stagflation due to the end of the gold standard in 1971 and fiscal deficits, impacting inflation and unemployment.
  2. The 1960 election acknowledged the risk of deficits on gold reserves, foreseen by Nixon, while Gore in 2000 aimed to maintain fiscal responsibility and pay down debt from surpluses.
  3. Political decisions from the 1960s to the 2000s reveal a shift in economic policies, with the consequences of deficit spending, tax cuts, and financial instability influencing different presidencies and shaping economic outcomes.

The US Is Now on Track for a $3.5 Trillion Deficit in 2025

QTR’s Fringe Finance • 28 implied HN points • 17 Dec 24
🇺🇸 U.S. Politics Federal Budget National Debt Government spending Economic Policy Fiscal Responsibility
  1. The US government is expected to have a $3.5 trillion deficit in 2025, which is the largest peacetime deficit ever. This means spending is much higher than the money coming in.
  2. There is little chance that Congress will cut spending significantly. Most government spending is on essential programs like Social Security and defense, which people don't want to lose.
  3. As the debt grows, it might lead to higher interest rates and economic problems for consumers and businesses, but it seems unlikely that people will support major budget cuts until they feel the impacts more directly.

Tax Reform, 2017: Promise of Plenty or Poisoned Chalice?

Musings on Markets • 0 implied HN points • 06 Oct 17
🇺🇸 U.S. Politics Tax policy Economic Growth Political Debate Fiscal Responsibility
  1. Tax reform often promises to make the system fairer and simpler, but it usually ends up being more complex and less fair.
  2. Changes in tax laws can impact a company's cash flows, cost of capital, and growth potential in different ways depending on their financial structure.
  3. Not all companies benefit equally from tax reforms; those with high effective tax rates and low debt tend to gain, while companies with low tax rates and high debt may struggle.