FJAG
Army.ca Legend
- Reaction score
- 13,763
- Points
- 1,160
Eaglelord17 said:Why do you all believe this government is going to do any spending cuts after this? There has been no real incentive for the government to manage our debt for decades now (it wasn't even a key point in the last election campaigns), why would that change? The reality is most people are so far in debt in their personal life they don't care about the government being in debt. As I have listened to these sad people, there logic is that cutting back is just a 'loss of services' and shouldn't happen. Democracy is only as good as the citizens within it, and ours are raised with a silver spoon in their mouth, not understanding how much that debt actually hurts them (such as the fact over the last 20 years the amount of money we have paid in interest could have paid off our debt in full). Its crazy to think if we didn't have debt that first year in power for JT wouldn't have had a 35 billion dollar deficit, it would have been a neutral year.
My prediction is once all this is over they shall just carry on as though over 100 billion dollars of debt had never been added.
Regretfully you are probably right.
The simple reason for paying off debt is that once it is gone, you no longer have to spend $30 billion (or 11% of the Federal government's annual income) on debt servicing.
In other words you could reduce taxes to the tune of $30 billion and leave the cash in the hands of the public to fuel the economy or add better federal services or a combination of the two.
Unfortunately, that needs a multi-decade plan which would run over a series of competing governments all agreeing to sustain similar austerity programs. There're absolutely no political benefits for each of them for doing so. Therefore: Spend! Spend! Spend!
:brickwall: