Quote:
Originally Posted by Azure
And that is exactly what I'm saying. Our economy is not growing enough to allow us to sustain our spending levels, and even the additional money we need to spend in the future.
If we want to manage our debt properly, our GDP needs to keep growing, and that SHOULD grow the tax base.
Unfortunately none of that is happening.
Well, except for more debt.
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Well, that’s the line that gets trotted out, but it’s not quite accurate. GDP is growing, and generally does unless we’re in recession. And yeah debt spiked a lot with Covid, but as a percentage of GDP it dropped something like 6% (from 73 to 67) between 2021 and 2023.
Obviously at 67 it’s high compared to recent times, but it’s going in the right direction.