The Pandemic of the Federal Deficit on #SuperTuesday!
I can still remember when I received my first paycheck. My first question was, "Who is this FICA
and why are they taking all my money"? I learned quickly that take home was not the same as gross
income, and math became important to me. Of course I learned that FICA stands for our Social Security
system, and then after questioning it resigned myself to the fact that I was forcibly saving for retirement.
Later while I was working for the US Chamber of Commerce, I realized that the trust fund that I was paying
into was in jeopardy because the government was borrowing from it to offset the deficit. The federal deficit
is the difference between what the government spends and takes in each year. From the Washington Post
"The U.S. Treasury released eye-popping numbers this week that show the federal budget deficit is on course
to cross $1 trillion in fiscal 2020, yet nobody seems to care." I know that I risk people's eyes glazing over when
I discuss math, but this is important in politics.
and why are they taking all my money"? I learned quickly that take home was not the same as gross
income, and math became important to me. Of course I learned that FICA stands for our Social Security
system, and then after questioning it resigned myself to the fact that I was forcibly saving for retirement.
Later while I was working for the US Chamber of Commerce, I realized that the trust fund that I was paying
into was in jeopardy because the government was borrowing from it to offset the deficit. The federal deficit
is the difference between what the government spends and takes in each year. From the Washington Post
"The U.S. Treasury released eye-popping numbers this week that show the federal budget deficit is on course
to cross $1 trillion in fiscal 2020, yet nobody seems to care." I know that I risk people's eyes glazing over when
I discuss math, but this is important in politics.
The Democrats rallying cry seems to be, "anybody but Trump" but it missed the mark. The President had an
impressive amount of wins before the Coronavirus. There was low unemployment, including minorities. There
were record gains on the stock market and low interest rates. Business was booming, and "America First,"
a resurrected Charles Lindbergh slogan, seemed to be working. However, there was a rotten core inside of this
string of economic victories. The rotten core is the federal deficit, and no one seems to be addressing this problem
in this current presidential election cycle. The most important issue of the presidential election is not climate change
health care, immigration, civil rights, or even the Coronavirus. The most important issue of 2020 is the possibility of
losing the US dollar as the world currency.
impressive amount of wins before the Coronavirus. There was low unemployment, including minorities. There
were record gains on the stock market and low interest rates. Business was booming, and "America First,"
a resurrected Charles Lindbergh slogan, seemed to be working. However, there was a rotten core inside of this
string of economic victories. The rotten core is the federal deficit, and no one seems to be addressing this problem
in this current presidential election cycle. The most important issue of the presidential election is not climate change
health care, immigration, civil rights, or even the Coronavirus. The most important issue of 2020 is the possibility of
losing the US dollar as the world currency.
If we lose the dollar as the world currency, then climate change will be a secondary issue. If this happens, rich people
will leave the country and flee to safe havens to protect their wealth. When affluent people leave, this will cause a
multiplying effect that will deepen and reduce our standard of living. Some people choose to live here because they
are patriotic and love our values, but I would argue that just as many people live here because they enjoy our living
standard. Christian people would be considered part of that patriotic core. They love their country, but love their faith
more, and will be willing to venture out to people that they feel will benefit from Christianity. Faced with a declining standard
of living, many people will choose to move where they will be less affected by climate change.They will not remain here to
fight against the problem.
will leave the country and flee to safe havens to protect their wealth. When affluent people leave, this will cause a
multiplying effect that will deepen and reduce our standard of living. Some people choose to live here because they
are patriotic and love our values, but I would argue that just as many people live here because they enjoy our living
standard. Christian people would be considered part of that patriotic core. They love their country, but love their faith
more, and will be willing to venture out to people that they feel will benefit from Christianity. Faced with a declining standard
of living, many people will choose to move where they will be less affected by climate change.They will not remain here to
fight against the problem.
If we lose the dollar as the world currency, then health care is a secondary issue. Rich people will go to other countries who
have superior health care. Pharmaceutical companies will leave in droves to other countries where tax benefits and reduced
regulation welcome them. This is already happening. Business Insider reports, "The amount of un-repatriated foreign profits
reached $2.4 trillion,according to Citizens for Tax Justice, allowing companies to avoid up to $695 billion in taxes. The total for
foreign profits is up from $2.2 trillion the previous year, according to the advocacy group which reviewed the Securities and
Exchange Commission filings of Fortune 500 companies. Apple, Microsoft and Pfizer increased their stockpile of overseas
profits the most." There are other reasons why pharmaceutical and other companies are moving outside the US. Our market
share as a country is shrinking. China is projected to have the largest economy in 2020.
have superior health care. Pharmaceutical companies will leave in droves to other countries where tax benefits and reduced
regulation welcome them. This is already happening. Business Insider reports, "The amount of un-repatriated foreign profits
reached $2.4 trillion,according to Citizens for Tax Justice, allowing companies to avoid up to $695 billion in taxes. The total for
foreign profits is up from $2.2 trillion the previous year, according to the advocacy group which reviewed the Securities and
Exchange Commission filings of Fortune 500 companies. Apple, Microsoft and Pfizer increased their stockpile of overseas
profits the most." There are other reasons why pharmaceutical and other companies are moving outside the US. Our market
share as a country is shrinking. China is projected to have the largest economy in 2020.
If we lose the dollar as the world currency, then civil rights is a secondary issue. When this happens people will choose to leave
the United States. They will even move to countries with a worse record of civil rights if their standard of living is increased. Civil rights
are important, but we are in the best position to do something to correct that lack when we still are leaders in the market share of the
consumers of the world. We are well on our way to losing this market share to China. When the Coronavirus struck, it unmasked how
much US corporations are dependent on that market, resulting in a collapse of the stock market.
the United States. They will even move to countries with a worse record of civil rights if their standard of living is increased. Civil rights
are important, but we are in the best position to do something to correct that lack when we still are leaders in the market share of the
consumers of the world. We are well on our way to losing this market share to China. When the Coronavirus struck, it unmasked how
much US corporations are dependent on that market, resulting in a collapse of the stock market.
If we lose the dollar as the world currency, then immigration will no longer be a problem. People will not want to move here, because
the grass will be greener in another direction. People choose to come to the US because of push and pull factors. The pull factor of a
higher standard of living is arguably the largest motivation for people to come to the US. Another important factor is a family member
who already lives here. When those families choose to leave to better themselves, then this will push people out to countries with a better
opportunities to improve their lives.
the grass will be greener in another direction. People choose to come to the US because of push and pull factors. The pull factor of a
higher standard of living is arguably the largest motivation for people to come to the US. Another important factor is a family member
who already lives here. When those families choose to leave to better themselves, then this will push people out to countries with a better
opportunities to improve their lives.
Finally, the Coronavirus is not a big campaign issue. It has unmasked a blind spot of how our market share of GDP per capita is eroding
away to other countries. A picture speaks a thousand words. In the picture above we see air pollution in China before and after the
Covid19, Coronavirus outbreak in China. With the slowdown in economic activity, we have a reversal in air pollution. With a slowdown in economic
activity in the United States we will see a reversal of climate change, immigration, civil rights problems and even the Coronavirus. These
things are all linked to economic activity.
away to other countries. A picture speaks a thousand words. In the picture above we see air pollution in China before and after the
Covid19, Coronavirus outbreak in China. With the slowdown in economic activity, we have a reversal in air pollution. With a slowdown in economic
activity in the United States we will see a reversal of climate change, immigration, civil rights problems and even the Coronavirus. These
things are all linked to economic activity.
The federal reserve will attempt to right the ship by lowering interest rates, but that tool will not be enough to reverse the process. Other
countries have already resorted to negative interest rates in light of world wide economic slow down, and it is not working. What will work
is our leaders leading us with sound fiscal policies in mind. Both Republicans and Democrats have erred here. What we need now is for
Democrats and Republicans to work together to solve our economic problems as if it was a pandemic. Perhaps the threat of pandemic will
wake us up from our loss of market share, economic slowdown, and the crash of the dollar. Who do I want to vote for in 2020? Only when
politicians become boring, fiscally responsible, leaders will there be the kind of candidate I will want to vote for in the 2020 election.
countries have already resorted to negative interest rates in light of world wide economic slow down, and it is not working. What will work
is our leaders leading us with sound fiscal policies in mind. Both Republicans and Democrats have erred here. What we need now is for
Democrats and Republicans to work together to solve our economic problems as if it was a pandemic. Perhaps the threat of pandemic will
wake us up from our loss of market share, economic slowdown, and the crash of the dollar. Who do I want to vote for in 2020? Only when
politicians become boring, fiscally responsible, leaders will there be the kind of candidate I will want to vote for in the 2020 election.
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