If the same percentage of GDP went into SS now as did in the 70s, there would be no funding crisis.
If the 1970s hadn't introduced "stagflation" that might still be possible.
Paul Krugman calls them deficit vultures:
Oh God, please don't bring up that idiot. I'm surprised the leftists haven't run him off with pitchforks yet. He's an embarrassment on the same level as Trump. Yes it's stupid to watch the Republicans talk about deficits NOW when the last chance to effect meaningful change was maybe 25 years ago. That didn't work. We're whores, and we spend like whores. We're dead meat. It's over. Covid-19 is accelerating the process.
Haha that's just direct spend of one war. Total lifetime cost of Afghanistan and Iraq will be trillions more.
That would still be less in 20 years time than we spent in
one quarter on Covid-19. Never mind that I just showed you an article for the
total cost of the war in Afghanistan, and you want to say "nuuuu it costs more huhuhuh". Thanks pal.
CBO says deficit caused by just the recent tax cuts is about $2T over 10 years.
Which is how much we just spent in
one quarter. And we need to spend more apparently! When is that going to sink in?
Lifetime program cost of the F35 is about $1.5T now and that's likely to grow.
The F35 program has been running since
1995.
Also when the Fed chairman is waving his arms for congress to do more fiscal stimulus during what will be the worst downturn since the depression you do fiscal stimulus until it's over.
That's a bad idea on so many levels. Let's see what the Fed chairman has to say when we're overleveraged and we can't borrow any more money. Sequester time!
This is why this thread does not need politics in it. Politics brings in the stupidity, in droves. You can not reorganize society in such a way to overcome crushing debt. You might be able to prevent future debt, but you can't eliminate it by electing a different official. I could put any one of you in charge of all society, and regardless of your political affiliation, you can not create enough wealth
on your own. People that you don't know and that you don't control might be able to fix the problem by taking care of themselves, their families, their friends, and their communities. No amount of MAGA or New Deal Part 2 will solve the problem. But leave it to bloviating politicians and their toadies to try and use this opportunity as a way to elevate their own position. Take your stupid politics back to P&N where it belongs.