Re: “Trump’s ‘Golden Dome’ Missile Shield Expected To Cost $500 Billion”

Robert Carnegie wrote:

On 03/06/2025 18:55, William Hyde wrote:

Paul S Person wrote:

On Mon, 2 Jun 2025 18:16:04 -0400, William Hyde <wthyde1953@gmail.com>
wrote:
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Lynn McGuire wrote:

On 5/30/2025 11:32 AM, Paul S Person wrote:

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Many people of gone through the numbers, taking every penny of the rich
will not be even close to fixing the USA debt.
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The only way to fix the debt problem through taxes is to tax the middle
class to death.  And the uniparty is rightfully scared to do so.

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Should have said "deficit" there, rather than debt.

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In 1993 the Canadian federal government debt was 12.2 percent of GDP.
The net government debt was far worse, as our provinces were far deeper
in debt than your states are allowed to be.
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The currency was so weak we began to call it the "Zloty".
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The Liberal government eliminated the debt in five years, and we had
surpluses up to the Wall Street crimes of 2009.

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Again, "defect".  I really should proofread these.

 Deficit?

Amusing.  I managed to err in my error correction.  Wonder if I'll do it again.
   "The amount by which expenditures

or liabilities exceed income or assets."
In government, deficit means borrowing money,
i.e. increasing your debt.  If you have a lot
of debt, then borrowing more money is hard
to justify.

Yes.  I was comparing the annual shortfall of revenue vs income for Canada in it early 1990s crisis and the US in its current state.
Of course, the debt both countries were carrying is a different matter. Canada benefited from a drop in interest rates, and hence a drop in payments needed to maintain the debt, in the 1990s.  Though the US was benefiting from a similar trend in recent years, until tariff worries spooked the bond market.  But interest rates are still pretty low.

 A government can just print more money, yes.
But it seems to be generally believed that that
doesn't work.

Printing more money will cause interest rates to rise, so you owe more on the remaining debt, and foreign debtors will want payment in more stable currencies.
Germany eliminated its internal debts by printing massive amounts of money in 1924.  But it wasn't worth the price.
William Hyde