Does anyone have the honesty to answer the following:
Should the current U.S. deficit be increased
to 2 or 3 trillion $$$?
Why or why not?
Right now the deficit for 2023 is shown at about 1.5 trillion (debt clock figure, probably this is the projection for the whole year: https://www.usdebtclock.org/
), so it looks like the current Biden budget includes a small INCREASE in the deficit for this year, or perhaps keeps it at the same level.
In 2022 the deficit was 1.38 trillion ( https://www.google.com/search?q=usa...i625j0i390.5148j0j15&sourceid=chrome&ie=UTF-8
), down significantly from 2021, while for 2020 the deficit was the highest ever (as a percent of the economy), about 3.1 trillion, and the debt/gdp rose to the highest ever.
The correct answer to the above question is: No, the deficit should be kept down
to where it is, or reduced down to 1.0 trillion or less, not increased (because debt has to be repaid later). Because higher debt (at such record-high levels) poses a threat to the economy, 5 or 10 or 15 years down the line. Even if there's no colossal "crash" as a result, still the overall net result of this high debt, long-term, is negative, not positive, causing more harm than good (regardless of the instant gratification initially).
But if you argue, as most everyone here is arguing, that higher debt is not a problem, then you should have the honesty to say forthrightly:
The deficit should be increased to at least 2.0 trillion
, or better yet, to 3.0 trillion. We need the money for so many needed programs, to help the poor, to solve homelessness, to provide health care to all, and also to provide relief to poor countries suffering from climate change, and to help so many refugees and victims throughout the world.
How can anyone honestly not demand an increase in the annual deficit, to provide another trillion or more $$$ to alleviate so much suffering both domestically and throughout the world? Many of the world problems are actually caused by the developed countries, all of which should be increasing their debt in order to pay for the damage we've caused in Africa and Latin America and other regions now being victimized by climate change.
It is totally callous and disingenuous to just blame China (and India?) and say it's all their fault, because they burn some carbons, and so we won't do anything unless China agrees to sacrifice to save other countries.
You can't call yourself a "liberal" or a "progressive" or a "humanitarian" or anything else positive if your response is so callous. As long as you think higher debt is no threat to the future, but is good for the economy, then you should be demanding an INCREASE in the federal deficit (same for other developed countries also), to 2 or 3 or 4 trillion dollars (in the U.S.) etc. in order to pay for the great need to relieve suffering and save literally millions of lives (probably tens of millions), for improved infrastructure, food production, and disaster prevention and rescue of so many victims.
This might mean the U.S. would take the initiative, to be followed by all other developed countries which have any decency, to all increase their debt in order to provide all the funding necessary to fix the damage that has been done and will continue if nothing changes to increase our debt.
The only possible reason to not increase the deficit to 2 trillion (annually) or higher, would have to be that you're afraid that there is a risk of economic collapse or crash of some kind if the debt goes up that much, or that fast.
And yet 90% of those posting here are saying that there is no risk or danger to the economy if the debt increases. If you believe that, why are you satisfied with Biden's budget which at best is keeping the deficit at about the same level? far too low to address all the need, allowing a continuation of suffering, or increase of it? Why do you want to see all this suffering continue or get even worse? when the solution is so simple? just increase the debt, the annual deficits, as needed?
What are you afraid of that you oppose doing what is necessary to save millions from starvation and other suffering?