. The major challenge is increased spending on benefits for the elderly. The U.S. population is aging and population growth is slowing. The dependency ratio is rising. Entitlement reform is an absolute necessity.
That matters because economic growth is determined by productivity plus increased employment. Basic economics says the economy cannot grow faster than 2% a year, at least not on the sustainable basis needed to address the trend deficits. Federal spending over the course of the next decade will grow at 5% or higher. The Federal Reserve will bring inflation down to its 2% goal. On a secular basis, real economic growth will be 2% or so. Again, however, federal spending is growing at 5% or more.
Better budgeting is required for restoring America.
TEA
Necessary to send our money to Ukraine!!! 😡
Spending less never seems to be a consideration.
We don't have a tax issue, we have a spending problem.
This cycle is a direct result of the 2017 Drumpf Tax Cuts for the very wealthy as well as his sundry “Deals” with Russia and Saudi Arabia concerning Oil Production and world markets. His tampering with existing Tariff Agreements and our internal “Regulations” also contributed.
Because Congress keeps overspending and handing out money!
What about a huge congressional & senate wage cut instead! Let’s see them hurt first!
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