I'm having a hard time taking this seriously: "only 1.75 trillion"
What a ludicrous statement. I mean, I know inflation has been bad but not THAT bad. One or two trillion dollars is an absolutely enormous amount of money.
What a ludicrous statement. I mean, I know inflation has been bad but not THAT bad. One or two trillion dollars is an absolutely enormous amount of money.
When people think about government spending they tend to handwave away billions and, as per this thread, millions are seen as a rounding error.
But I think thats because most people are thinking about the entire budget - which is around was 6.7 trillion on total revenue of 4.9 trillion.
But when "only" 900 billion of that is left for all the neat things government could do it really nails home the impact of things like a trillion dollars per year spent in interest on the debt.
It really also makes clear why starting to slim things down is essentially becoming necessary. The current system is not sustainable.