Nobody’s going to like this answer. But the simple reality is this. Basically everything has to be cut. Yes, the rich need to pay their fair share. But there’s no way we can tax our way out of that kind of debt. It is not realistic. It is pure fantasy to think a person a company an organization, a country or anything else can literally bring in that kind of money. It’s impossible. So yes, tax the wealthy. But we are gonna have to make some serious hard cuts.
And we cannot just do cuts in one area. It will have to be cuts across the board.
And now I’m going to show my hypocrisy. I just said everything, but I’m going to turn around and say the only thing that we really can’t cut is Social Security. The elderly, who live on Social Security realistically can’t get another job. So we’d have a choice a bunch of old people in the streets or keep Social Security. So Social Security would have to stay and everything across the board has to be cut. And if we literally can’t make enough cuts without cutting into Social Security then yeah we’d have to cut Social Security too.
That means everybody’s pet project. Everybody’s favorite thing that the government spends money on is going to get cut. And yes, as I said if we can’t cut enough out of everything and we have to cut Social Security then Social Security would have to be cut back.
The other alternative is the entire country goes bankrupt. And I know there are people in lemmy that think that’s a good thing. You pay attention anything in economy or economics I should say. The US economy is too intertwined with other countries. If we go bankrupt, it will take a lot of economies around the world right with it. So that’s just not an option. So the US is going to have to cut their spending on pretty much everything. The alternative is bankruptcy