If this is the annual deficit while the economy is still in decent shape
( as far as unemployment is concerned) , what will happen to the deficit if we go into a severe recession? We basically can’t cut our way out of a deficit- but we should have been willing to increase taxes on the higher end earners - and maybe even a “ wealth “ tax
in the good times / so we would have more room to borrow in a recession. The rest of the world is less likely to want to hold our bonds going forward because we have treated our allies as adversaries and our adversaries as allies. Hey Alice
I will add that I "liked, subscribed and hit the alert bell" on your initial "decoded" video. I have never gotten an alert for any subsequent "decoded" video, nor have any of them been "suggested" by YouTube even though I'm on YouTube (with ads) every day lately. Maybe one has to be a paying YouTube (ad free) subscriber to get notifications or suggestions?
If we had tax rates like those in the 1950s (when the economy was booming), we'd be running a large budget surplus every year. Any talk of reducing the deficit by focusing only on spending, without mentioning the need for more income, is kinda pointless.
this was helpful in understanding what categories are in the overall budget. question though, does this congress and this president really care that they can't touch certain piles? what pile does presedential /administration come out of, like secret service costs? traveling/golfing costs? congressional pay?
i have been a subscriber to this Substack for several months and have never gotten the paid subscriber content. Cannot find any way to contact anyone to cancel. Im not in a place to just donate. Does anyone have contact info?
We need to increase the amount of money in the USA wallet/pocketbook. That isn’t done by continuing tax cuts. I’m not saying that I like paying taxes but I do like the services that I receive. I don’t mind helping pay for the poor people who can’t contribute but I sure as heck don’t want to subsidize the rich who won’t contribute.
This you tube is fabulous!! You really explain a complicated issue that has been such a talking point right now in simple, visual terms. I love the graphics- the pie chart! But it's not just the visuals. It's the words you use and how you explain it. NOW I get it. I wish these pundit shows would explain things like this. My one question is- how can we pay down that interest on the debt part of the pie chart?
If this is the annual deficit while the economy is still in decent shape
( as far as unemployment is concerned) , what will happen to the deficit if we go into a severe recession? We basically can’t cut our way out of a deficit- but we should have been willing to increase taxes on the higher end earners - and maybe even a “ wealth “ tax
in the good times / so we would have more room to borrow in a recession. The rest of the world is less likely to want to hold our bonds going forward because we have treated our allies as adversaries and our adversaries as allies. Hey Alice
welcome to wonderland.
Very helpful. So glad I am a paid subscriber.
Thank you!
This was so easy to understand thank you for breaking this down
Me too
Excellent information!
I will add that I "liked, subscribed and hit the alert bell" on your initial "decoded" video. I have never gotten an alert for any subsequent "decoded" video, nor have any of them been "suggested" by YouTube even though I'm on YouTube (with ads) every day lately. Maybe one has to be a paying YouTube (ad free) subscriber to get notifications or suggestions?
This is a Blue Ribbon winner!
If we had tax rates like those in the 1950s (when the economy was booming), we'd be running a large budget surplus every year. Any talk of reducing the deficit by focusing only on spending, without mentioning the need for more income, is kinda pointless.
Thanks adam
Really well done, especially in a video that’s short enough to feel very approachable to anyone.
this was helpful in understanding what categories are in the overall budget. question though, does this congress and this president really care that they can't touch certain piles? what pile does presedential /administration come out of, like secret service costs? traveling/golfing costs? congressional pay?
Thank you for those statistics. I had no idea! I think musk and Bezos and Zuckerberg said pay off our debt for us.
Thanks Adam for explaining the budget in a clear, easy to understand way.
And thank you for all you do to keep us informed about the issues.
Very helpful. The whole budget discussion is confusing for most of us and this helps clear it up.
i have been a subscriber to this Substack for several months and have never gotten the paid subscriber content. Cannot find any way to contact anyone to cancel. Im not in a place to just donate. Does anyone have contact info?
Thank you for this clear explanation we just don’t hear from other sources. Shared.
Very useful information! Happy to support your work, Adam!
Thanks Jen!
We need to increase the amount of money in the USA wallet/pocketbook. That isn’t done by continuing tax cuts. I’m not saying that I like paying taxes but I do like the services that I receive. I don’t mind helping pay for the poor people who can’t contribute but I sure as heck don’t want to subsidize the rich who won’t contribute.
We have been subsidizing the rich - for decades. It used to be help the poor ( like Robin Hood ) - now it’s
upside down- Hood Robin .
This you tube is fabulous!! You really explain a complicated issue that has been such a talking point right now in simple, visual terms. I love the graphics- the pie chart! But it's not just the visuals. It's the words you use and how you explain it. NOW I get it. I wish these pundit shows would explain things like this. My one question is- how can we pay down that interest on the debt part of the pie chart?