r/CryptoCurrency • u/WineMakerBg Make Wine, Take Profits • Jan 28 '25

GENERAL-NEWS Latest Proposal• US Gov to Buy 200,000 BTC annually for 5 years • Hold for at least 20 years • Goal: Halve the U.S. national debt in 20 years

Post image

source

4.5k Upvotes

85% Upvoted

906 comments sorted by

View all comments

Show parent comments

18

u/HSuke 🟩 0 / 0 🦠 Jan 28 '25

That's Congess's spending problem. It's good to spend to stabilize the economy during bad times of national crisis, but they never increase taxes and reduce spending during good times.

They don't listen to economists.

3

u/der_innkeeper 🟦 0 / 0 🦠 Jan 29 '25

The ones that do listen to economists do not get elected in enough numbers to do anything, because that is "responsible" and "paying our bills".

Those that don't promise tax cuts and no spending because "keep your government hands off my medicare".

Then, the ones that do listen to economists are screamed at for wanting to pay our bills, but can't work fast enough to actually fix anything, so the goldfish-memoried electorate elects more frat kids to cut taxes and keep spending.

1

u/lohmatij 🟩 0 / 0 🦠 Jan 29 '25

They increased debt in alarming rate even before Covid

1

u/SushiboyLi 🟨 0 / 0 🦠 Jan 29 '25

yeah there were bad times before covid that needed stabilization

1

u/mcgravier Jan 29 '25

Why would they? Debt to GDP is 120%, they can spend it all the way to 200% and it will be a problem for next president anyway