Politics of Addressing the Federal Debt and Deficit

Paul Krugman, Nobel Laureate in Economics and Distinguished Professor at City University of NY Graduate Center says that politics cannot be divorced from the issue of balancing the federal budget because of the revenue and entitlement considerations.
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[@ctrl-shift-run8681]

He says the ballooning US debt is not a serious problem with a straight face.

[@vsFY2023]

Krugman is one of worst economists of all time. He is wrong over and over

[@bigbrotherisasob]

Yep. He is a total hack.

[@mgv19able]

What wrong with these people they give a sh!.t about the future and people in this country they are self asbured

[@tuntuntv400]

I'm all in on Revux. Presales have the highest returns, and this one’s gold.

[@Watcher1-jr5lo]

Krugman famously said the internet was no more important than the fax machine.

[@Fried52]

Been following him for years and don't remember him saying that. But I do remember he was one of the few economists out there that called the housing bubble and following recession.

[@Fried52]

@trevorwebb448 I googled it, your right. He got that one wrong. Otherwise he's made some good calls over the years.

[@Watcher1-jr5lo]

@@Fried52 He also said in this interview that Japan was not suffering from too much debt. Thats a flat out lie; The Yen is dropping like a rock and their GDP hasn't grown in 20yrs.

[@ssuwandi3240]

These Economists clearly want to liberate China like the sinking neighbour ends up now.

[@Fried52]

@@Watcher1-jr5lo Not sure what charts your looking at but the yen has been in a major bull market since about 2012. It's actually doubled in value. Now they have had a slow recovery since the pandemic and it has been up and down but long term GDP is basically flat since the early 2000's. There debt to GDP ratio is high but the Jap central bank holds most of the debt. Charts say it's not an issue. Japan is facing a lot of other issues. One being generational growth rates trying to support an increasing older population. Not sure Krugman wrong about this one.

[@olderchin1558]

The risk is not with the US. The risk is for the people holding USD and USD debt. It is already risky from arbitrary sanctions, now there is the risk that US will default or just not recognise the debt by not allowing its conversion or its utility.

[@luciusseneca2715]

The debt is merely transitory....

[@markmiligy2620]

what happens to the us debt that china owns if ww3 were to happen. does it get voided/canceled or does it still remain?

[@HeyUGuyz23]

“The problem isn’t the numbers” 🤦‍♂️ Krugman isn’t an economist he is a political activist. He promoted Modern Monetary Theory for the past 20 years which has ballooned the national debt by 400% resulting in a debt to GDP ratio which will exceed 150% by 2030. And he literally eluded to cutting off healthcare for elderly (which Europe currently does). But he won’t admit that MMT has led us to this burgeoning debt crisis.

[@alanheath7056]

UK should Sell there Bond's soon before they lose there Value.

[@ssuwandi3240]

Look, China is dumping T bond and hoard the cash..

[@christiancoronado]

One of the most progressive economists out there. He doesn't care how much you pay for food, shelter, energy, or taxes.

[@ThatonedudeCR12956]

Pretty sure he's paying more than most so 🤷‍♂️

[@christiancoronado]

@ThatonedudeCR12956 so he can donate to a good cause, but hopefully, the next administration won't be filled with people who share his views. Next election is in a few months so it's up to voters

[@Watcher1-jr5lo]

@@ThatonedudeCR12956 Read the book " When money dies"

[@tuckerbugeater]

@@christiancoronado it's like a nba player holding a kids head while he punches. Krugman is Yao Ming.

[@tuckerbugeater]

@@Watcher1-jr5lo Read it while sitting on your hands

[@user-wr4yl7tx3w]

Argentina?

[@tuckerbugeater]

That's why created the Great Depression, WW2, and the Marshall plan. You can't say no to those cash injections.

[@ChadBlevins]

THANK YOU for giving air time to Krugman: very thoughtful and insightful.

[@georgeboutwell6069]

Debt is $309,867 per taxing single guardian and $109,784 conceived human and living human .. after born it goes up. $1.87 Trillion that is $1 Trillion every 89 days. Paul Krugman you are an ID10T

[@prahladraj5648]

Shifting my portfolio - heavy on BTC and Revux, with a sprinkle of DOT and ADA.

[@williamwick8641]

Another Nobel Prize given to someone who has no clues about living in the real world

[@Abdul_khan619]

Revux is being mentioned everywhere - definitely a project to watch!

[@michaelparker3188]

Sad and ashame. Bad economics. Debt can kill a nation and Americans dreams. 😡

[@stevendavidstoffers2679]

maybe less *endless* Like Kind IRA 401k rollovers? and rates. and maybe a carbon tax???? not during a Trump admin. remember Trump flying off to Florida while Biden made his speech? which is not [only] travel but big shows and getting [back] together with *far* *flung* [how?] family and friends but also involves real estate. residential *and* commercial.

[@user-si9xk1mg1o]

😂😂 2043 it will be over

[@lastChang]

China 🇨🇳 has been a money-printing machine on overdrive. During the years 1990-2021, the US printed 6.5 times more money while China printed 147 times. - It has printed more money than the US and Japan combined, while its economy is only half of them. - Current Chinese debt-to-gdp is already *highest in the world, at 300%,* according to Bloomberg. - With stimulus and measures, China's debt will be at 400% to 500% of its GDP in the next decade, according to Reuters.

[@jazzman7167]

Yeah right, lame ass

[@Mist3man4423]

One of the greatest economic minds.

[@Watcher1-jr5lo]

He just said Japan was doing fine, But the Yen is in freefall.

[@user-pj6lu9lh1y]

Taxes = Income for governments . So , logical sense is "Tax the AI robot workers as equal rates as Tax the human workers " is another reasonable financial solution to solve the low tax revenues from current human workers' income tax contributions ?

[@leskfan1277]

It's pretty funny reading reading all of the comments criticizing Krugman when many of the answers he gave here is something like "I don't know."

[@yannickb8070]

I think this is rather tactical. Saying you don't know is better than admitting that the position you had for the past 20 years on government and monetary policy was dead wrong. This is not humility, it's the opposite.

[@chrisbytwerk3712]

We will never be able to pay off the national debt.The only way out is to default.

[@majaraj315]

I see Revux doing 50x, maybe even 100x after it goes live on major exchanges.

[@user-hw3ru6bs1f]

Anyone else hearing about Qventi? It’s getting a lot of buzz, just like Revux.

[@RanjeetKumar-qi5ym]

Got a strong feeling Revux will go 100x once it hits Binance.

[@bigbrotherisasob]

The truth is.....krugman has no clue.