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Comment by exabrial | Hacker News Reader

The US keeps voting to raise its debt cieling. Theres not end in sight to endless taxation by both parties.

Nobody is reducing spending and delivery continues to go down.

We don’t need tax cuts, we need higher taxes and less spending on the rich&old. Our welfare system is completely backwards, if you are facing declining fertility and struggling young people - you don’t continue to tax the young to spend on the wealthier generation.

Unfortunately most young people don’t realize they are being hoodwinked and so poll extremely supportive of this scheme.

> we need higher taxes

I'm against putting any more money in 1%-ers pockets. None of your tax money does anything except... make the "rich&old" more rich.

The fund is not concerned about the debt ceiling. The are concerned about the US threatening invasion of its allies.

The debt ceiling is literally not a problem at all, unless the US were to do something as monumentally stupid as to stop allowing its GDP to grow through trade, and devalue the US dollar, in which case everybody flees US treasuries, resulting in collapse of value, causing more people to flee UST, etc....

The debt hawks are very wrong about the fundamentals of currency, but they are less dangerous than the war hawks in the White House to the US's economic future.

It's one thing to do a epically stupid invasion of Iraq on faked intelligence, which ally support. It's another thing entirely to invade allies. It will totally end US dominance in the world.

"The decision is rooted in the poor U.S. government finances, which make us think that we need to make an effort to find an alternative way of conducting our liquidity and risk management," Investment Director Anders Schelde said in a written statement.

"Thus, it is not directly related to the ongoing rift between the U.S. and Europe, but of course that didn't make it more difficult to take the decision," he added.

quotes from the Reuters article

Another case of, 'well they would say that, wouldn't they'

Indeed. There was a progressive slate elected to the board of this pension fund a decade ago, to facilitate oil divestment:

https://bsky.app/profile/runestahl.bsky.social/post/3mcuyopn...

Doing a small amount of CYA as a fiduciary, while causing bond rates to rise, is merely prudent.

The fiscal trajectory of the US absolutely matters for growth, inflation expectations, tax expectations, and government capability.

Congress passed a tax cut last year for the wealthiest as part of the One Big Beautiful Bill (“OBBB”) that increases the debt by $1T-$4T over ten years. What taxation by both parties?

The US pays $800B/year to service debt. It pays $800B-$1T/year for the military. What would you like cut that is discretionary? There appears to be no appetite to raise taxes on the wealthy, pay down debt, and reduce military spending. So US credit card go brrr. We’ll hit a debt spiral eventually.

https://usafacts.org/government-spending/

The deficit reliably starts to come down whenever a Democrat leadership is in place. It then jumps back up under the Republicans.

Well, the unsophisticated and low education keep voting for Republicans, so what do? If you’re an individual, if you can, the best you can do is be prepared to get out and not have exposure to the US financially or from a tax perspective. Otherwise you’re stuck going over the cliff economically with the lemmings due to an uneducated, unsophisticated, vibe driven electorate and a suboptimal political and governance system lacking sufficient checks and balances to prevent this outcome.

Maybe we’re lucky and adults come back into power, but hope alone is not a strategy. No one is coming to save you, prepare accordingly. I have prepared accordingly to decouple from the US entirely as a citizen, if necessary. It’s regrettable and I have no other solution for those inquiring. You can’t control the winds, but you can adjust your sails. My genuine condolences and sympathies if one cannot escape the US either via income, wealth, or some form of visa (lineage, family, work, etc).

(derived from first principles)

so 100% of your savings are in foreign companies that don't have US as a client, plus BTC, and you have dual citizenship already plus don't own your own home?

I own a residence outright in a European country, I have invested in a golden visa fund (renewables) that will provide my family European citizenship after five years, I am financially independent with a minority of my portfolio in US exposure, and I have built a network of folks who will employ me anywhere globally in almost any currency I choose. I hold no crypto while also holding at least a year of expenses in Euros. We have applied for and received permanent residency in Mexico as well (no upkeep cost, the only thing we can't do is vote). Even without a golden visa, Spain will allow you to apply for a digital nomad visa with a three year term from within the country while a tourist (for any employment sourced at least 80% out of the country), and with one two year extension, will then allow you permanent residency after five years (for example; there are many paths to an exit, citations below, and most of the developed world is hungry for skilled labor).

Through the actions above, I feel that I have diversified away from the US sufficiently for my risk appetite. I don't feel I need to renounce my US citizenship currently (due to foreign earned income exclusions), but I am also prepared for that in the future if necessary.

Resources for others I have assembled helping folks exit:

https://relocateme.substack.com/

https://old.reddit.com/r/AmerExit/comments/urwlbr/a_guide_fo...

https://old.reddit.com/user/Shufflebuzz/comments/1iv4dud/shu...

https://www.helpmeleave.us/

https://www.canada.ca/en/immigration-refugees-citizenship/se... (Canadian citizenship by descent)

https://healthcareinfusion.org/ (for healthcare workers interested in Canada)

https://lookerstudio.google.com/reporting/b58914ce-b98d-4330... from https://pancakeonastick.substack.com/ (Digital Nomad Visa Map)

Additional citation:

Work, Invest, Inherit: How Americans Can Actually Move to Europe - https://www.bloomberg.com/explainers/how-americans-can-move-... | https://archive.today/IYsA3 - January 2nd, 2026

It blows my mind that republicans are still seen as the fiscally responsible party.

It's a great indicator of how much of the American public's sentiment on everything is driven by marketing.

Just say "Fiscal responsibility" enough times and it's magically true, and nobody will listen to the educated people pointing at literal receipts because they are "the elites", which is a group that somehow doesn't include the people who's wealth has grown 10x based on explicitly pro-rich person fiscal policy for decades.

It's why they blame democrats for "globalism" as well, despite the fact that the entire country loudly voted for Reagan because of his "lets reduce taxes and magically get rich" narrative.

Or how it's constantly said that "Democrats turned their back on blue collar workers". Said by people voting for the "Unions are inherently bad" party.

Everything about American behavior makes sense when you understand them as especially prone to swallowing marketing and ideology as truth.

In "defense" of Republicans, the MAIN reason for deficit increasing under Republicans is that their administrations often end with some type of economic disaster. Their increased spending is part of the picture, but not as responsible as the impacts from final year recessions.

> Congress passed a tax cut last year for the wealthiest as part of the One Big Beautiful Bill (“OBBB”)

I think you need to call it by its real name.

One Big Beautiful Bill Act.

You can tell how much care and considering went into if from the name.

https://en.wikipedia.org/wiki/One_Big_Beautiful_Bill_Act

> endless taxation by both parties.

How do you run a country without taxation? Can you point at an example?

Tariffs, obvs.

Serious answer: deficit spending and let inflation act as the taxation mechanism.

Deficit spending with zero taxation?

The approach is tried and true with a small deficit, but surely you need some decent source of revenue to keep the inflation under control.

The US most likely needs to raise taxes if you want to stop constant loans.

Why should taxes "end"?

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