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Is this being great again
A1 fair enough response, the disconnect really comes down to whether you trust the federal government to spend wisely. I cite some atrocious examples of government spending (that you agree with) but you maintain that it’s just a couple examples of bad spending (2 Trillion a year, though not all of it is bad spending obviously ). Unfortunately, neither of us really know - if you listen to the people in DC they’ll tell you they’re saving lives and keeping the economy afloat. I’m highly skeptical. When you find out we’re funding roughly 500 DEI programs across the government, Stacey Abrams is getting a $2B grant from the EPA and federal retirement papers are manually processed at a mine in Pennsylvania, what other reaction could one have?
I’m interested in your response on regulation, and want to read more about it. I’m still skeptical because it seems wrong on its face. Compliance with regulations cost money, whether you’re in O&G or trying to open a bakery in San Francisco, you have to spend time and resources to comply and figure out how to comply with the regulation. That’s capital that could have been used to drill a new well or buy a crate of flour. Moreover, paying 21% in taxes is obviously more beneficial to the cupcake cafe instead of paying 28% or whatever it may be. That’s a significant amount of money small businesses would use to pay rent, buy inputs, etc. That goes back to the government spending. Why raise taxes 5% on corporations (not to mention individuals) just so Lockheed can take 20 years and charge us 2 trillion dollars to build a new fighter that’ll be phased out by the next generation 20 years after that? This is evident but the fact major corporations are fleeing California to Texas. California keeps raising taxes to fund their needless for the homeless programs. California has spent 24 B on homeless programs in the past 4 years, homelessness has increased roughly 50% in the past decade. Gavin Newsome literally spent $10 million dollars last year on government funded hair appointments!
(Okay I made that last one up)
Subject Expert
Thanks Obama
The US was downgraded in 2011 by S&P and 2023 by Fitch. Both comparable rating agencies to Moodys. In a way they’re just catching up.
@AA1,
Objectively, 2011 was a global crisis, so that was reasonable. 2023 was a debt ceiling crisis due to the instability of Congress in 2023. Moody is in response to one person causing a crisis as opposed to multiple parties being involved in the instability.
@A3,
No, I blame the president for the increased prices due to his stupid tariffs and the slowing of the US M&A work I do, due to market instability he caused.
Subject Expert
Scott Greenberg is getting a creditor group together as we speak
Subject Expert
OP, so by your reasoning, since both parties have contributed to the deficit, we can’t assign more blame to a party that has done even more damage?
I don’t know how you could post something like this and say “don’t make this political”
Mentor
They’re all complicit, so don’t try to argue that your side, whichever it may be, is more or less complicit in this. I’ll just roll my eyes.