politics

Don’t think most folks on the socials understand what will happen when major government programs and their budgets get cut. So it begins..

👨‍💻 /uno and /outside, @unofficial

New Deal increased spending to get us out of the Great Depression.

Are you implying that by reducing government spending we’ll enter a New Great Depression?

Building /presto /fc-marketplace || Believe in magic

I don't think we'll ever enter into a depression since there are many, many programs both public and private that will aid folks most susceptible to economic harm. But I see a world where the United States is getting more vulnerable to competition as we spend less on ourselves and end up in a longer stagflation.

Totally agree with you on the stagflation point - but I don’t think “more spending” alone solves that problem.

Shouldn’t we cut unnecessary spend and reallocate to things that drive growth?

We had that with the Infrastructure Investment and Jobs Act, plus the Fed with QT. Not sure where else to spend it except AI, but that was obv the CHIPS Act?

All 3 were part of IIJA/CHIPS. Money from those acts has gone to private companies and consolidates supply chains so not much net new technology. Taxes will likely go lower, but not by much.

Aside from AI:
- Energy independence (Solar or Nuclear)
- Transportation (High speed rail)
- Space exploration

I don’t think the govt needs to spend more. I think they need to cut taxes and red tape so private companies can flourish.