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<blockquote data-quote="Hypno" data-source="post: 1363606" data-attributes="member: 12416">Yes, but another way to look at this is as follows.&nbsp; Lets say the U.S. spends twice as much as its tax revenues bring in.&nbsp; That is the same as saying that half the budget was raised by taxes, and half by depreciating the dollar. The reality is that in 2019, revenues were about $3.5 Trillion, and spending was $.5 trillion, so taxes covered more than 75% of spending. However, for 2020, revenues are forecast at 3.7 trillion while spending is forecast at 7.0 trillion, which is barely 50% of spending.If we can finance almost half of our spending without taxes, then why not all of it?&nbsp; Again, this in intended as a rhetorical question, and there are limits on everything.A related question might be, why not just have the Federal Reserve provide unemployment relief, interest free loans to businesses, loans to airlines or banks, foreign aid, fund a covert op like a coup in Ukraine or here at home.&nbsp; No congressional approval authorized, and oversight might be delayed by a year. (To be clear, I'm not saying that all of these happen.&nbsp; But the Fed did bailout the banks in 2006, and non-banks like Goldman and AIG, and non-U.S. entities like foreign banks.&nbsp; If they can bail out domestic banks, then they can bail out other sections of the economy.&nbsp; If they can give money to foreign enitited, then is there any limit on what they might do, from foreign aid to foreign covert ops)?</blockquote>

[QUOTE="Hypno, post: 1363606, member: 12416"] Yes, but another way to look at this is as follows. Lets say the U.S. spends twice as much as its tax revenues bring in. That is the same as saying that half the budget was raised by taxes, and half by depreciating the dollar. The reality is that in 2019, revenues were about $3.5 Trillion, and spending was $.5 trillion, so taxes covered more than 75% of spending. However, for 2020, revenues are forecast at 3.7 trillion while spending is forecast at 7.0 trillion, which is barely 50% of spending. If we can finance almost half of our spending without taxes, then why not all of it? Again, this in intended as a rhetorical question, and there are limits on everything. A related question might be, why not just have the Federal Reserve provide unemployment relief, interest free loans to businesses, loans to airlines or banks, foreign aid, fund a covert op like a coup in Ukraine or here at home. No congressional approval authorized, and oversight might be delayed by a year. (To be clear, I'm not saying that all of these happen. But the Fed did bailout the banks in 2006, and non-banks like Goldman and AIG, and non-U.S. entities like foreign banks. If they can bail out domestic banks, then they can bail out other sections of the economy. If they can give money to foreign enitited, then is there any limit on what they might do, from foreign aid to foreign covert ops)? [/QUOTE]

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