I’m going to put you at the “steering wheel” of the U.S economy. You will have opportunity to fix the financial mess the U.S. economy is in.
Imagine for a moment you are the US Secretary of the Treasury or some all- powerful overseer of US federal government taxation and spending.
Which problem should you fix first: (a) national debt; (b) unemployment; (c) taxation; (d) expansion of government benefits to equalize income; (e) provide equal access to medical care for everybody?
For reference, you have ~$3.2 trillion in collected taxes to play with and you must make a $523 billion interest payment on ~$16 trillion in loans the U.S. has made (the national debt) and also by law cut $1 trillion of checks for Social Security and another ~$1 trillion for Medicare/Medicaid and then come up with $673 billion for the military, leaving you just ~$4 billion to fund all the other branches of government plus provide food stamps for 37 million people.
The Ethics of Money Pr…
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The U.S. budget is $4.193 trillion and the federal government says it borrows $864 billion to come up with the difference between what it collects in taxes ($3.2 trillion) and its budgetary spending list ($4.193 trillion) – but the U.S. actually spends $6.048 trillion annually (see bottom left corner of the U.S. Debt Clock presented below) and actually just “prints” another ~$2 trillion of electronic money into existence to make up the difference and support the lifestyle Americans have grown accustomed to.