Oh Dear God in Heaven

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  1. gmwilliams profile image83
    gmwilliamsposted 21 months ago

    https://usercontent2.hubstatic.com/16221967.jpg
    The government is spending monies like there is no tomorrow.   America is trillions of dollars in debt, yet the spending continues.   When will the government exercise caution in spending?  What steps do YOU believe that the government should take in reducing their spending or do you think that the government will continue to spend haphazardly until there is a severe financial crash?

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    1. Castlepaloma profile image78
      Castlepalomaposted 21 months agoin reply to this

      I've watched and studied this process for the last 15 years. But nobody believes me, nope.

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    2. Nathanville profile image90
      Nathanvilleposted 21 months agoin reply to this

      Yep, I can’t disagree with you there; general economic consensus (World Bank) is that a ratio of ‘debt-to-GDP’ that exceeds 77% for an extended period of time may result in an adverse impact on economic growth.

      Currently the USA debt-to-GDP ratio is 123.6%, it peaked in 2021 at 137.2%.

      The UK is doing marginally better at 102.8%; the second lowest in the G7; the EU average is a lot better (but still too high) at 88.2%.

      So one way or another, it looks as if the whole industrialised world (wealthy nations) as going to have a rough, and perhaps dumpy, few years.

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      1. gmwilliams profile image83
        gmwilliamsposted 21 months agoin reply to this

        Exactly.

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