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Crixcyon's avatar

The government is now overspending by a trillion dollars every 3-4 months, give or take. There is no way the taxpayers can cover this excess. Are these clowns going to raise taxes another $2-3 trillion a year to pay for the deficit? That would mean another $2-3 trillion leaving the economy every year and furthering the economic downturn and possible crash. Less economy = less collected taxes. It's a vicious downward spiral.

The same goes for the Fed's deficit. Sure, the taxpayers and those taxed at all levels pay for a good portion of the costs to run the economy, but hardly all. Taxpayers haven't covered the cost of government but a few times in the last 50 years.

Taxpayers on the hook? More likely future taxpayers will spend their lives on the hook for today's deficits. Theoretically, taxpayers taxed 20 years from now will be paying for deficits created 10 years ago.

It's a losers game and the deficits will never be paid back, not one thin dime's worth. Then again, no one in government has more than a few brain cells in operation at any given time and that explains the whole shebang.

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AB's avatar

Hi Peter, how can we get transcripts of the podcast??? I’m a subscriber and people say via YouTube you can get a transcript but I’ve not found such? Any ideas. I’d really like to read your podcast content.

Thanks

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