There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system. We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation. Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt. Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work. We know what the right thing is. Do it.
It is not owned by Musk... Wake up. You paid it with your taxdollars, mandates subsidies and zero interest wiping out our savings creating a bubble with unafforability of everything inflation. Where is the dividend??? Anyways; The debt under Trump will just grow further. It is sad but true. Lets hope I'm wrong! (retirement) SS , ACA, MedicaDeCare they can't cut, think otherwise is Musks wet dream. Inflation reduction ACT and chip act where necessary and beneficial. Cuts spending, debt,Yes. Cut rates to minimal, zero or negative no (Real money is not free!)! But raise income tax inheritance tax,, higher income tax on higher middle class and above and capital gains! 100% necessary or you never get out of this mess. Fiscal dicipline, less government workers, yes, lower government salaries Yes, stop the debt trap, stop inflation, and don't feed a bubble with more printed zero or negative air. It just causes further unaffordability! Consumers no dime to spend left after necessities paid with their creditcard. And make exportable profitable reliable 'stuff' in the USA again, and not in China, because the latter is the USA biggest problem. A 90% services only economy doesn't pay the bills, federal, government, nor household bills! Your economic model, foundation is rotten, repair that first!
@@greggseipp absolutely not , the mems of congress can't even read the bills they vote on, it is the hired nonelected bureaucrats deciding everything in everyday lives that is the problem
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system. We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation. Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt. Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work. We know what the right thing is. Do it.
No income tax or property tax. Probably won't be overtime when Elons robots take our jobs and he is mass producing them for 2025. Believe words but not actions. So many of these people speak lies to get your trust.
that's a dumb bill it should be a company tax for over forty hours of work per persson and force companies to hire more people than squeeze the life out of a few people.
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system. We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation. Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt. Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work. We know what the right thing is. Do it.
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system. We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation. Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt. Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work. We know what the right thing is. Do it.
Through the 50s-60s, I recall all networks clearly and thoroughly disected every law and every Federal Budget. Wish I saw this again inside licensed and cable. It was helpful defining the positions of all. 🇺🇸
Yes. I can just picture President Musk, with his feet up on the Resolute desk, while Vice President Trump, wearing a French maid's uniform , does the dusting. Then Melonia pops her head out from under the Resolute desk and says " Donald please take over. I need a smoke".
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system. We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation. Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt. Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work. We know what the right thing is. Do it.
The congress must stop adding pork spending to the appropriation bills. Remember congress appropriates all money spent in this country. Remember the inflation reduction act? This is money that should have never been spent.
That's hard to do. I can't be in Congress voting for funding for your state and not deliver for the needs of the Constitients back home. No NC Senator or Congressman was ever voting for a bill that didn't include disaster relief
The biggest item of "pork" that was cut was around $150 million for research into childhood cancer. This is the problem with DOGE. It's not Musk or Trumps family who will be hurt with these cuts. It's ours
It’s NOT Just the COST Saved in Canceling Useless Agencies, it Repurposing the BUILDINGS, that the WASTE is in, for Better Purposes!!! Think of the Cost SAVINGS just in THAT!!!
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system. We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation. Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt. Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work. We know what the right thing is. Do it.
Since the workers are already working remotely- you can sell the properties now. Why force people to return to the office when you can save money now? You don't have to pay utilities, secuirty , or do maintenance.
@@Lancer_0010 As an "old person"... Let's not cut those who PAID for things, but instead cut from young people that don't want to work. :) Fair is fair. Don't work, don't eat.
The people need to start fileing lawsuites against the federal government for spending our tax dollars on things not authorized for congress to spend on
I see you don't know how this works. There is no spending of money on things not approved by Congress. You can just buy an aircraft carrier because you feel like it.
@lancebrooks304 no... i see you dont know what congess is and is not allowed to spend money on... Congress is only allowed to spend money on things that are "for the good of all" citizenry... not things that are only good for one state, or one group of people, or for other nations
The economics of the United States tanked under the first Trump Administration between a trade war with China and COVID-19. The government spending was off the charts with Trumps Administration causing 25% of U.S. debt which was the largest accrued debt by any one President in United States history. A million + people died from COVID and the economy lost over 3 million workers. 25% of small farmers lost their farms in the mid west. Overall crime soared and fenanyl overdoses reached epidemic proportions. And more illegal immigrants crossed the border than during Biden's time in office. Good times.
I do think DOGE will find a lot of fraud and waste and be able to save money and hopefully reduce the deficit, but I still think $2 trillion is pie in the sky. Without cutting into entitlements it just can't happen .
The video pointed out that the spending has increased by well over $2 trillion over the last 4 years, so aren't we just talking about going back to where we were in 2020?
Fix SS, all it would take increase basic retirement age from 65 to 70. Increase it by one month each month. In 60 months or five years in would be fixed forever. When 65 was chosen, the average life ended at 50 years. Now we are living longer on average. Adjust it from 65 to 70.
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system. We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation. Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt. Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work. We know what the right thing is. Do it.
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system. We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation. Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt. Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work. We know what the right thing is. Do it.
@@anti-validationI agree with everything you said. I have zero confidence that Musk or Trump has any interest in getting rid of our deficit or raising wages. Their primary concern is for their own companies. Musk depends on removing cheaper competitors. Trumps depends on keeping property prices out of the reach of working people
@peterjermey7235 Without consumer tax credits for EVs, Tesla doesn't have any customers. Vivek makes his money by buying pharmaceutical patents and price gouging Medicare. These two individuals are the biggest conflicts of interests in the history of our government.
The problem is everyone wants to cut the other guys government goodies. But never their own. Perhaps a 10% cut in all programs? That way everyone suffers equally. Naw. I don't want to suffer, only the other guy should suffer. Right?
Same with us. Cut someone else's benefits but not ours. Government employees getting pensions and a cut in SS benefits because of it, just got a raise.
The government does not "own" the Federal Reserve Board. How can they get rid of it? A more accurate description would be the Federal Reserve Board "owns" the government.
Laffer has said some stupid things on air but his privatize the Federal Reserve is right up there. Most of the Federal Reserve is privately run........lmao. FOMC which sets interest rates is mostly private bankers. Only a tiny portion of the Fed in DC is publicly appointed. I could go onto the shortcommings of the Laffer Curve but that is another topic.
The Federal Reserve employs approximately 2,500 people. This number can vary slightly depending on the specific roles and functions within the organization but many of these roles are now either redundant or could be done through computerization or by the market - it should be trimmed by over 500 staff. Some roles you can't get rid of e.g., in money management/printing but other roles like analysis - they aren't getting it right anyway!
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system. We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation. Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt. Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work. We know what the right thing is. Do it.
LOL, seriously..........you need to research more. The staff of the Federal Reserve is not paid by taxpayer funds it is privately paid for. The Government has no input into staffing levels of the Fed. FOMC which sets interest rates is made up of Fed District Bank heads which also come from private sector. They do not just set the rates on a whim and this is what you get from listening to an empty suit like Laffer. Each District Bank head is responsible for their DIstricts in the United States and they do considerable travel meeting with business owners in their districts as well as people like you (though I am sure you never show up) to get their input into how the economy is going. That is what they use for the basis of their judgement of where interest rates should be. So you see Laffer even though he invented the Laffer Curve really is not as intelligent as FOX News would have you believe. Because all this is public knowledge and you just heard Laffer describe how the Fed operates as some kind of country club............it's not.
@@WesternBachelor which leads to the ❓ question why wasn't wasteful inefficient government spending addressed 40 years ago ? Having too much fun spending like a herd of Ivy League coeds on a shopping spree @ Neiman Marcus retail store.
Art Laffer is a financial genius! His theories are taught in business classes all over the country. He should receive the Nobel Prize in Economics for his Supply Side economic curve! Just brilliant!!!!!!!
@@teresabarrett8339 The problem is none of his great ideas are taken seriously enough by the public sector or private sector to be implemented because certain people have dollar signs in their eyes.
He worked in OMB, but doesn’t know what’s driving the debt. $36 T in debt and he’s still talking about tax cuts. Entitlements and defense are over 70% of the budget and that’s where the cuts need to be made.
Pass a budget! Make the spenders have to identify how and why they will spend all of the tax dollars that they yank out of our pockets. Every dollar has a name. If the name on this dollar is “food stamps”, then let’s identify it and then make sure that all of the fraud around it is addressed and eliminated.
The latest reward of unearned social security is a gift to government employees, that had pensions instead. Was this a gift to Congress as well? So sick that the rewards go from the top down in government. That's how the percentage system works. The less you do, the more you make!
You don’t need incentives. Just tell all government managers their budget has been cut 30% and that they get to keep their jobs only if they fire 30% of their department. And if work productivity falls, the manager loses their job too. That will get some people moving. That’s how corporate America works and they’re a lot more productive than the federal government
When I was in the Navy at the end of every physcal year the rush was to spend every dollar in the budget " so that next year we get at least as much." Inefficiency was rewarded not efficiency. Every government agency operates this way. It's a sin to save money, make sure you spend it all then ask for more next year.
The only solution that will address the concerns of both sides of the political spectrum and not hurt a single soul is to address the Federal Reserve Debt Machine Bank, which is responsible for the devaluation of the dollar, inflation, and the national debt. We should not be borrowing our currency from a private bank run by international bankers who have no loyalty to the USA and are not mentioned once in our Constitution to create and regulate our currency. A country that creates its own currency has no debt or interest payment. And the best part is the government will not need to tax its people, which will be an automatic boost to their paychecks by 20 to 35%. Moreover, by merely returning all the Fed notes back to the international bankers, we can pay off the entire national debt of 36 trillion. Win! Win! Win! Win! And no one gets hurt. No one!
Not fond of the idea of having to bribe employees to do their job. That's why they are paid in the first place. Don't do the job to the best it can be done, out you go. And that includes Congress. Balanced budget or unemployment.
The entire federal civilian workforce costs less than 4 percent of the federal budget. Most of the costs are laws that Congress passed that make federal programs and the $6.5 Trillion budget.
Incompetence is intertwined with competence from GS-01 to SES. There's no way to isolate the good from the bad. Also unionized. Not to mention the contradictory regulations.
The US government is like that neighbor that's got a brand new BMW a million dollar house designer clothes fancy jewelry but can't afford to feed their children or an oil change.
Wherever this guy got his degree, they need to lose their accreditation. There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system. We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation. Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt. Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work. We know what the right thing is. Do it.
Laffer is a laughing stock with most Economists. Take some courses in Economics and learn about the Laffer curve at any University of any political persuasion. You might read about it via a bimbo or two posting in this videos comments section but they have no clue. The Laffer curve is a very, very, very basic concept at best and this is the reason he never won any Nobel Peace Prize for it. Laffer also said in the video the Federal Reserve should be privatized..................it's privately run, you can at least Google that. This is a classic FOX News presentation and why so many folks that only watch FOX News are considered to be misinformed.
Incentives to cut waste is a good idea. IMO need strict rules of what a "cut means and how to monitor it is important. The incentive pay should be based on return on investment. No idea how to do that on a one by one basis but maybe a solution for departments. If just reducing the employee no. w/o looking at goals, outcomes and efficiency is a waste.
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system. We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation. Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt. Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work. We know what the right thing is. Do it.
Blah Blah Blah, Tired of cow towning to Government employees. No incentives!!!. Have them do their specific task efficiently and concisely or get Fired. Stop giving them excuses and costing American’s big money!!!
When I worked (hard) for the government we regularly had wealthy politicians blaming us for their own inability to budget. Forcing them all into the office will cost more, not less and you'll lose a lot of the best people who don't have situations that allow them to work from DC
I like Laffers economic Reagan era approach. However, the inflation in the US is relative low compared to other countries. I disagree with the FED blaming. I think a little inflation is also a good incentive to invest the money instead of just saving it... time is money. Certainly better than binding a currency to gold… ;)
Eileen on the conservative side of Economics but the fact of the matter is and tell you how to Federal Reserve there were booms and busts and generally the bus were worse than the booms now we have had a small increase of 3% per year since the Federal Reserve but have not had huge bus except for the Great Depression when the Federal Reserve failed to address the problem so we need to be very very careful
When I was in the Marines we had a saying. "The Marines have done so much with so little for so long, we can now do almost anything with nothing." Our buildings were fifty years old, our food was good but cheap, our pay was terrible. Many of us had part-time jobs. Yeah there's waste and it should be worked on, but it isn't even close to what Musk is thinking.
@@JamesLintz-h9jthat’s in dispute. General Kelly asserts that, but other witnesses say they never heard it. General Kelly is disgruntled with Trump. Hard to know the truth.
Thanks for the analysis! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How can I transfer them to Binance?
ترامپ مرد کار دروست بسيار عالی هستید موفقیت بر پیروزی ✌️ وجود ترامپ نتانياهو بی بی سیروس رضا پهلوي پادشاه ایران موفقیت بر پیروزی همجانبه برای حرکت هاتون برای زحمت های که برای ازادی انسان ها انجام میدهیند هزاران دورود بر شما شکر سپاس هضور شما دانال ترامپ برای ایران مهممم است ایران تهران سفارتخانه امریکا سفارتخانه اسرائیل چقدر خوبه ما همه واصل هستیم ایرانی ها اسرائيلي ها امریکای ها سپاس بینهایت ✍️🌎🙏🌈🫡
I have heard every in coming Gov say the same about Gov waste and do nothing cos its hard work or people will complain about what is removed. It might not be as easy as coming out with slogans.
Nothing meaningful will get done as you state. We will still be in higher debt at the end of 4 years than we are now. Why are we so gullible when listening to the forked tongues of our so called representatives? There is a reason FDR didn't like unions in the government.
Lets start with the Dept. of Education. At the Federal level it has 4,400 employees doing a job that could be done by 1,1000 at the Federal level (100 management/support staff) and 20 administrators/inspectors per State) - and it would give more autonomy to the States - which is what the Constitution intended (within a Federal umbrella)...
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system. We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation. Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt. Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work. We know what the right thing is. Do it.
Concentrate on incentives for More Department Employees? That do nothing inside offices? What Utopia is that ? People on foot jobs REALLY MADE THINGS HAPPEN ! Not executives sitting jobs.
Laffer is a great economist BUT when Reagan followed his advice, productivity climbed and wealth distribution concentrated in the rich. The rest below the top 10% got about the same share. The rich got even richer and the peasantry about the same. Did improved productivity really work?
I've spent almost my entire career working for companies that don't give a rats a$$ about their employees. It's nice to hear it from Bob Bartley.
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system.
We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation.
Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt.
Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work.
We know what the right thing is. Do it.
And then you elected the CEOs club to run the government
The wasteful spending AND these government bureaucrats are the problem.
The problem is Congress and lobbyists, full stop. If you don't take care of that relationship then you'll accomplish nothing.
It is not owned by Musk... Wake up. You paid it with your taxdollars, mandates subsidies and zero interest wiping out our savings creating a bubble with unafforability of everything inflation. Where is the dividend??? Anyways; The debt under Trump will just grow further. It is sad but true. Lets hope I'm wrong! (retirement) SS , ACA, MedicaDeCare they can't cut, think otherwise is Musks wet dream. Inflation reduction ACT and chip act where necessary and beneficial. Cuts spending, debt,Yes. Cut rates to minimal, zero or negative no (Real money is not free!)! But raise income tax inheritance tax,, higher income tax on higher middle class and above and capital gains! 100% necessary or you never get out of this mess. Fiscal dicipline, less government workers, yes, lower government salaries Yes, stop the debt trap, stop inflation, and don't feed a bubble with more printed zero or negative air. It just causes further unaffordability! Consumers no dime to spend left after necessities paid with their creditcard. And make exportable profitable reliable 'stuff' in the USA again, and not in China, because the latter is the USA biggest problem. A 90% services only economy doesn't pay the bills, federal, government, nor household bills! Your economic model, foundation is rotten, repair that first!
@@greggseipp absolutely not , the mems of congress can't even read the bills they vote on, it is the hired nonelected bureaucrats deciding everything in everyday lives that is the problem
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system.
We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation.
Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt.
Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work.
We know what the right thing is. Do it.
@@anti-validation and how many times is a single US dollar taxed over it's life in the market
I LOVE Art Laffer. Always have him on...
He is a fraud
BRAVO!🎉
If Trump can actually pass a “no tax on overtime” bill he will capture the vote of the hourly working man for the next century!!!
🎯💯👍🙏🇬🇾😎
No income tax or property tax. Probably won't be overtime when Elons robots take our jobs and he is mass producing them for 2025. Believe words but not actions. So many of these people speak lies to get your trust.
that's a dumb bill it should be a company tax for over forty hours of work per persson and force companies to hire more people than squeeze the life out of a few people.
Not within the Republican's nature to cut taxes on working class.
Amen to that ❤
No incentives...it's their job to do right. Instead make them accountable.
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system.
We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation.
Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt.
Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work.
We know what the right thing is. Do it.
@@anti-validation No one ever paid 90%. The max was around 40 or so %. Look it up. Quit parroting the DNC narrative.
@@truthful2877 Accountability does not exist in their vocabulary because they are spending taxpayer money and not their own money.
Sounds like a good plan!!
Unfortunately, Art, the OMB has also become just another terrible government agency.
Cut your government debt and spending before tax cuts.
@@gregmichaelson2399 It might be like asking all women to be 25 yr olds all over again 😁
Stop doing heroin, cut out sugar and alcohol, get a good night sleep and walk every day.
This is historical times
and the dimocrats hate hearing about progress...
neighborhood wind chimes
these are historical times
ukrainian crimes
@ thanks. English my third language…
Thanks Trump
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system.
We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation.
Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt.
Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work.
We know what the right thing is. Do it.
Through the 50s-60s, I recall all networks clearly and thoroughly disected every law and every Federal Budget. Wish I saw this again inside licensed and cable. It was helpful defining the positions of all. 🇺🇸
Good for you Mr president. Lowering taxes will help everyone.
How will they have money to fund FEMA. They don’t have enough money to buy trailers. 😢
Yes. I can just picture President Musk, with his feet up on the Resolute desk, while Vice President Trump, wearing a French maid's uniform , does the dusting. Then Melonia pops her head out from under the Resolute desk and says " Donald please take over. I need a smoke".
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system.
We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation.
Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt.
Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work.
We know what the right thing is. Do it.
The congress must stop adding pork spending to the appropriation bills. Remember congress appropriates all money spent in this country. Remember the inflation reduction act? This is money that should have never been spent.
That's hard to do.
I can't be in Congress voting for funding for your state and not deliver for the needs of the Constitients back home.
No NC Senator or Congressman was ever voting for a bill that didn't include disaster relief
The biggest item of "pork" that was cut was around $150 million for research into childhood cancer.
This is the problem with DOGE. It's not Musk or Trumps family who will be hurt with these cuts. It's ours
You can thank House Republicans for all this spending
It’s NOT Just the COST Saved in Canceling Useless Agencies, it Repurposing the BUILDINGS, that the WASTE is in, for Better Purposes!!! Think of the Cost SAVINGS just in THAT!!!
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system.
We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation.
Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt.
Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work.
We know what the right thing is. Do it.
Since the workers are already working remotely- you can sell the properties now.
Why force people to return to the office when you can save money now? You don't have to pay utilities, secuirty , or do maintenance.
Which useless agencies?
I love how you broke down the XAI330w project in your video! Can’t wait to see it skyrocket!
End the shell company, trust funds, and offshore account loopholes to make it fair for the commoners.
Yeah you think a billionaire would cut their face in spite of their nose like commoners.. yeah right
And 501(c)3 Foundations set up by politicians to buy favor.
💯🇺🇸🗽Trump💯🗽🇺🇸
They're stealing you blind.👹
Art is such an intelligent Godly man🇺🇸
Mutually exclusive. Do you know what that means?
Zero basis budgeting. Like every other organization on the plannet.
“Welllll you see…we just can’t cut from anywhere cause it’ll hurt….old people or something” -both sides of congress minus Thomas Massie
@@Lancer_0010 As an "old person"... Let's not cut those who PAID for things, but instead cut from young people that don't want to work. :) Fair is fair. Don't work, don't eat.
Reward integrity. Punish dishonesty.
i guess you misunderstand the government
Trump is not going to like that
@@eyeizzbizzy The blind leading the clueless.
The people need to start fileing lawsuites against the federal government for spending our tax dollars on things not authorized for congress to spend on
I don't see John Lennon letting that pass.
I see you don't know how this works. There is no spending of money on things not approved by Congress. You can just buy an aircraft carrier because you feel like it.
@lancebrooks304 no... i see you dont know what congess is and is not allowed to spend money on... Congress is only allowed to spend money on things that are "for the good of all" citizenry... not things that are only good for one state, or one group of people, or for other nations
God is in charge. ❤❤❤
Amen
No such thing as "god"
@@astarothzephyr There has to be since you worship satan.
Once Elon Musk's XAI330w passes $1, it may NEVER see that low again
The economics of the United States tanked under the first Trump Administration between a trade war with China and COVID-19. The government spending was off the charts with Trumps Administration causing 25% of U.S. debt which was the largest accrued debt by any one President in United States history. A million + people died from COVID and the economy lost over 3 million workers. 25% of small farmers lost their farms in the mid west. Overall crime soared and fenanyl overdoses reached epidemic proportions. And more illegal immigrants crossed the border than during Biden's time in office. Good times.
You're wrong on all counts. Let's see you back that up with factual data.
Dreaming is free. No taxes, just Texas ! Ya Ya.
WE THE PEOPLE say stick to a BUDGET! !!!!!DO YOUR JOB!!!
Dear IRS, You're Fired.
You just don't know it yet.
I do think DOGE will find a lot of fraud and waste and be able to save money and hopefully reduce the deficit, but I still think $2 trillion is pie in the sky. Without cutting into entitlements it just can't happen .
The video pointed out that the spending has increased by well over $2 trillion over the last 4 years, so aren't we just talking about going back to where we were in 2020?
Of COURSE it’s pie in the sky….unless they decide to cut Social Security and Medicare
The purpose of the DOG is to eliminate social security. That's the only place real cuts could be made. Ruff.
Fix SS, all it would take increase basic retirement age from 65 to 70. Increase it by one month each month. In 60 months or five years in would be fixed forever.
When 65 was chosen, the average life ended at 50 years. Now we are living longer on average. Adjust it from 65 to 70.
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system.
We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation.
Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt.
Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work.
We know what the right thing is. Do it.
Thankfully, sanity has returned to the White House and Congress. The out-of-control spending must stop, starting with the money pit a.k.a Ukraine.
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system.
We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation.
Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt.
Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work.
We know what the right thing is. Do it.
Trump was demanding unlimited debt last week. He's not going to cut spending, just public services
@@anti-validationI agree with everything you said. I have zero confidence that Musk or Trump has any interest in getting rid of our deficit or raising wages. Their primary concern is for their own companies. Musk depends on removing cheaper competitors. Trumps depends on keeping property prices out of the reach of working people
@peterjermey7235 Without consumer tax credits for EVs, Tesla doesn't have any customers. Vivek makes his money by buying pharmaceutical patents and price gouging Medicare. These two individuals are the biggest conflicts of interests in the history of our government.
The problem is everyone wants to cut the other guys government goodies. But never their own. Perhaps a 10% cut in all programs? That way everyone suffers equally. Naw. I don't want to suffer, only the other guy should suffer. Right?
Same with us. Cut someone else's benefits but not ours. Government employees getting pensions and a cut in SS benefits because of it, just got a raise.
Heres an incentive, you get to keep your job!
The government does not "own" the Federal Reserve Board. How can they get rid of it? A more accurate description would be the Federal Reserve Board "owns" the government.
Laffer has said some stupid things on air but his privatize the Federal Reserve is right up there. Most of the Federal Reserve is privately run........lmao. FOMC which sets interest rates is mostly private bankers. Only a tiny portion of the Fed in DC is publicly appointed. I could go onto the shortcommings of the Laffer Curve but that is another topic.
The Trump administration will take charge of this rogue fed bank.
The Federal Reserve employs approximately 2,500 people. This number can vary slightly depending on the specific roles and functions within the organization but many of these roles are now either redundant or could be done through computerization or by the market - it should be trimmed by over 500 staff. Some roles you can't get rid of e.g., in money management/printing but other roles like analysis - they aren't getting it right anyway!
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system.
We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation.
Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt.
Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work.
We know what the right thing is. Do it.
LOL, seriously..........you need to research more. The staff of the Federal Reserve is not paid by taxpayer funds it is privately paid for. The Government has no input into staffing levels of the Fed. FOMC which sets interest rates is made up of Fed District Bank heads which also come from private sector. They do not just set the rates on a whim and this is what you get from listening to an empty suit like Laffer. Each District Bank head is responsible for their DIstricts in the United States and they do considerable travel meeting with business owners in their districts as well as people like you (though I am sure you never show up) to get their input into how the economy is going. That is what they use for the basis of their judgement of where interest rates should be. So you see Laffer even though he invented the Laffer Curve really is not as intelligent as FOX News would have you believe. Because all this is public knowledge and you just heard Laffer describe how the Fed operates as some kind of country club............it's not.
It's too late to fix. You don't need to just cut spending, you need to actually pay off the debt.
@@WesternBachelor which leads to the ❓ question why wasn't wasteful inefficient government spending addressed 40 years ago ? Having too much fun spending like a herd of Ivy League coeds on a shopping spree @ Neiman Marcus retail store.
Art Laffer is a financial genius! His theories are taught in business classes all over the country. He should receive the Nobel Prize in Economics for his Supply Side economic curve! Just brilliant!!!!!!!
@@teresabarrett8339 The problem is none of his great ideas are taken seriously enough by the public sector or private sector to be implemented because certain people have dollar signs in their eyes.
The very last thing we need in a bureaucracy is common sense and an efficiency motive
If Trump gets no taxes on overtime, the unions will lobby for 80 hour work weeks.
@@robhaythorne4464 how would the unions profit?
He worked in OMB, but doesn’t know what’s driving the debt. $36 T in debt and he’s still talking about tax cuts. Entitlements and defense are over 70% of the budget and that’s where the cuts need to be made.
The amount of government waste is minimum savings by reducing the budget by that amount.
It's called extortion, done on a large scale called racketeering
The 🐂 💩 is getting DEEP
The old VA incentives structure led to inflated bonuses, job corruption.
Korean shipbuilding and automobiles ‘cheered’ for the King dollar;
Pass a budget! Make the spenders have to identify how and why they will spend all of the tax dollars that they yank out of our pockets. Every dollar has a name. If the name on this dollar is “food stamps”, then let’s identify it and then make sure that all of the fraud around it is addressed and eliminated.
They need to do consultations with each department to get those ideas from them...
The latest reward of unearned social security is a gift to government employees, that had pensions instead. Was this a gift to Congress as well? So sick that the rewards go from the top down in government. That's how the percentage system works. The less you do, the more you make!
Art Laffer out loud. Taxes are no where near the point where they inhibit growth. Incentives cost more than they incentivize.
You don’t need incentives. Just tell all government managers their budget has been cut 30% and that they get to keep their jobs only if they fire 30% of their department. And if work productivity falls, the manager loses their job too. That will get some people moving. That’s how corporate America works and they’re a lot more productive than the federal government
When I was in the Navy at the end of every physcal year the rush was to spend every dollar in the budget " so that next year we get at least as much." Inefficiency was rewarded not efficiency. Every government agency operates this way. It's a sin to save money, make sure you spend it all then ask for more next year.
@jamescherney5874 Some would use the money to buy tools and then take them home for their own use. I know this for a fact.
Make every department send a document to Trumps desk explaining why their department is needed !
I'm reading the book. Thanks guys.
or fire the ones who arent working..
We stole the Panama Canal? You need to check the policing and maintaining the thing that cost almost 30,000 American lives building it?
The only solution that will address the concerns of both sides of the political spectrum and not hurt a single soul is to address the Federal Reserve Debt Machine Bank, which is responsible for the devaluation of the dollar, inflation, and the national debt. We should not be borrowing our currency from a private bank run by international bankers who have no loyalty to the USA and are not mentioned once in our Constitution to create and regulate our currency. A country that creates its own currency has no debt or interest payment. And the best part is the government will not need to tax its people, which will be an automatic boost to their paychecks by 20 to 35%. Moreover, by merely returning all the Fed notes back to the international bankers, we can pay off the entire national debt of 36 trillion. Win! Win! Win! Win! And no one gets hurt. No one!
Force balanced budget! If an agreement isn't reached shut the government down until it is.
A.I. can replace most government administration jobs.
Time to cut ALL benefits to useless government employees, that includes Congress
This spending will end one way or another... either we return to some kind of fiscal sanity or we collapse.
Not fond of the idea of having to bribe employees to do their job. That's why they are paid in the first place. Don't do the job to the best it can be done, out you go. And that includes Congress. Balanced budget or unemployment.
Ask Kansas.
Ok, I will take the bate. Kansas cut, but than spent more, unlike NC which cut than spent less. Any more questions?
They're all swimming in debt or at least 85% of states.
The entire federal civilian workforce costs less than 4 percent of the federal budget. Most of the costs are laws that Congress passed that make federal programs and the $6.5 Trillion budget.
US debt is caused by such government spending
Incompetence is intertwined with competence from GS-01 to SES. There's no way to isolate the good from the bad. Also unionized. Not to mention the contradictory regulations.
The US government is like that neighbor that's got a brand new BMW a million dollar house designer clothes fancy jewelry but can't afford to feed their children or an oil change.
Wherever this guy got his degree, they need to lose their accreditation.
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system.
We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation.
Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt.
Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work.
We know what the right thing is. Do it.
Laffer is a laughing stock with most Economists. Take some courses in Economics and learn about the Laffer curve at any University of any political persuasion. You might read about it via a bimbo or two posting in this videos comments section but they have no clue. The Laffer curve is a very, very, very basic concept at best and this is the reason he never won any Nobel Peace Prize for it. Laffer also said in the video the Federal Reserve should be privatized..................it's privately run, you can at least Google that. This is a classic FOX News presentation and why so many folks that only watch FOX News are considered to be misinformed.
Fire Congress.
I want him help Cambodia too
Cambodia isn't a US state
@ yes, I know,but I want him to help
How do you fix the deficit if you have a trunk president who wants to raise the debt ceiling?
Dreaming is free......
"incentivize reductions.' No kidding. How?
🇺🇸🇺🇸🇺🇸Merry Christmas 🎄🎄🎄
House Republicans pass the spending deals.
Can't fix a Ponzi!
Can’t fix a polosie !
Incentives to cut waste is a good idea. IMO need strict rules of what a "cut means and how to monitor it is important. The incentive pay should be based on return on investment. No idea how to do that on a one by one basis but maybe a solution for departments. If just reducing the employee no. w/o looking at goals, outcomes and efficiency is a waste.
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system.
We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation.
Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt.
Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work.
We know what the right thing is. Do it.
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Sure, the investment-advisor that guides me is..
Mrs Joyce kim
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Whack the federal reserve altogether and DHS too.
Most of that is gone to Ukraine
And that’s on the Democrats
Thanks, Johnson, you RINOS
Blah Blah Blah, Tired of cow towning to Government employees. No incentives!!!. Have them do their specific task efficiently and concisely or get Fired. Stop giving them excuses and costing American’s big money!!!
When I worked (hard) for the government we regularly had wealthy politicians blaming us for their own inability to budget.
Forcing them all into the office will cost more, not less and you'll lose a lot of the best people who don't have situations that allow them to work from DC
Get rid of all the sub contracting take everything in house on a fixed salary scale.
I like Laffers economic Reagan era approach. However, the inflation in the US is relative low compared to other countries. I disagree with the FED blaming. I think a little inflation is also a good incentive to invest the money instead of just saving it... time is money. Certainly better than binding a currency to gold… ;)
What you gonna cut?! Let the working class know
Eileen on the conservative side of Economics but the fact of the matter is and tell you how to Federal Reserve there were booms and busts and generally the bus were worse than the booms now we have had a small increase of 3% per year since the Federal Reserve but have not had huge bus except for the Great Depression when the Federal Reserve failed to address the problem so we need to be very very careful
Novel idea. Do what works, get rid of what doesn’t! Another reason for term limits.
When I was in the Marines we had a saying. "The Marines have done so much with so little for so long, we can now do almost anything with nothing." Our buildings were fifty years old, our food was good but cheap, our pay was terrible. Many of us had part-time jobs. Yeah there's waste and it should be worked on, but it isn't even close to what Musk is thinking.
DIDNT Trump refer to the military as SUCKERS AND LOSERS..😂
You honered our country by serving..and I thank you for your service.. nobility...
@@JamesLintz-h9jthat’s in dispute. General Kelly asserts that, but other witnesses say they never heard it. General Kelly is disgruntled with Trump. Hard to know the truth.
Thanks for the analysis! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How can I transfer them to Binance?
ترامپ مرد کار دروست بسيار عالی هستید موفقیت بر پیروزی ✌️ وجود ترامپ نتانياهو بی بی سیروس رضا پهلوي پادشاه ایران موفقیت بر پیروزی همجانبه برای حرکت هاتون برای زحمت های که برای ازادی انسان ها انجام میدهیند هزاران دورود بر شما شکر سپاس هضور شما دانال ترامپ برای ایران مهممم است ایران تهران سفارتخانه امریکا سفارتخانه اسرائیل چقدر خوبه ما همه واصل هستیم ایرانی ها اسرائيلي ها امریکای ها سپاس بینهایت ✍️🌎🙏🌈🫡
I have heard every in coming Gov say the same about Gov waste and do nothing cos its hard work or people will complain about what is removed. It might not be as easy as coming out with slogans.
Nothing meaningful will get done as you state. We will still be in higher debt at the end of 4 years than we are now. Why are we so gullible when listening to the forked tongues of our so called representatives? There is a reason FDR didn't like unions in the government.
Incentives? How about keeping your job as the incentive for doing nothing and getting paid
What was the great Trump Economic Miracle?
Oo i know increase the dept ceiling.
Milton Friedman said get remove it
Lets start with the Dept. of Education. At the Federal level it has 4,400 employees doing a job that could be done by 1,1000 at the Federal level (100 management/support staff) and 20 administrators/inspectors per State) - and it would give more autonomy to the States - which is what the Constitution intended (within a Federal umbrella)...
There is no spending problem. The average historical federal budget is 22% of GDP: +/-3% of that is fine. I literally don't give a crap of you choose to spend 22% of GDP on chickens (historical tariff reference). The primary function of the federal budget is to get money into the economy for free markets. Yes, it is a "pick the winner" system.
We've paid down 120% debt to GDP before. We did it while creating Medicare and fully funding two trust funds that covered the program until this decade. Income over $200,000 was taxed at 90%. Businesses did everything they could to minimize their taxable income, which included spend, spend, spend, and employee bonuses. The federal reserve was never worried about recessions because the previous quarter was TWENTY PERCENT GROWTH. Inflation matched wages increases. Then Reagan cut the highest tax rate in half, subsidized demand with government debt, and employers increased wages at half the rate of inflation.
Cutting spending under the premise of efficiency is austerity. Austerity kills the economy and increases debt.
Labor force participation rate is down for all demographics except Asian women over the last 10 years. The tax code enables wealth disparity. You work, so someone else can get richer. It's hard to have an economy with a disenfranchised labor force that doesn't want to work.
We know what the right thing is. Do it.
Saying all same old down economics they give you a few more crumbs, that we are supposed to be happy while they are getting millions and billions SMh
Concentrate on incentives for More Department Employees? That do nothing inside offices? What Utopia is that ? People on foot jobs REALLY MADE THINGS HAPPEN ! Not executives sitting jobs.
6:24 RIP Titanic
You make him nervous cause he’s rich compliments to the chef muah I said as I sailed by ✍️
Laffer is a great economist BUT when Reagan followed his advice, productivity climbed and wealth distribution concentrated in the rich. The rest below the top 10% got about the same share. The rich got even richer and the peasantry about the same. Did improved productivity really work?
50% increase in 5 years !
Why do they want them back in the offices isn't Hybrid or remote government work more cost effective? you know as a business perspective lol
It is thought people are more productive in the office. Some do not work as much at home.