Here's the thing, @justinamash: I think that you are a true believer in reducing the debt out of a firm conviction that America should not spend beyond its means.
But most of your GOP colleagues, and the billionaires who have lobbied them to cut the debt, have an ulterior goal.
But most of your GOP colleagues, and the billionaires who have lobbied them to cut the debt, have an ulterior goal.
Their actual goal is not to make the U.S. fiscally responsible. Their goal is to enrich Wall Street by shrinking the market for Treasury bonds, so that the Social Security administration and other big holders of those bonds have to turn to private securities instead.
BUT, the rub is, that's only one way Wall Street can rent-seek. Another way is lobbying for massive tax cuts that free up corporate profits short term.
Even though that contradicts paying down the debt, it's a tool to the same end. So they don't care.
Even though that contradicts paying down the debt, it's a tool to the same end. So they don't care.
