Quote:
Originally Posted by Build.It
This is more or less what is required for them to balance their budget again.
US health spending is extremely inefficient compared to other countries for example.
US social security per capita is also significantly more than Canada's for example.
Countries like the US and Canada were established on the foundation of limited government and low taxes - this (among other reasons) was why so many people uprooted their lives to move here. So it's unrealistic think our populations will accept being a high tax high service state like Norway. That leaves us with the only other viable option, which is to cut services.
Of course the there is a third option which nobody wants, and that is perpetual borrowing and inflation.
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The US won't be balancing its budget anytime soon. The biggest problem is that wealthier people don't pay their fair share which would go a long way to reducing their deficit. Cutting services there is absolutely an option but there are consequences in doing that as economic growth will be hurt in the short term and some people may fall through the cracks which leads to longer-term problems. My opinion is that cutting taxes has been done at the expense of much higher debt and Trump's plans seem to be only doing more of that.
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