Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

>Their economy is in recession, businesses are collapsing

>All the while they're left entering into unprecedented levels of debt

So is America because of the tariffs and tax cuts for the ultrarich.

Also, a lot of the tariffs were delayed or canceled. Is that a good idea?

Also, those canceled tariffs were brought back. Was that a good idea?

Those brought back tariffs were also delayed again. Was that a good idea?



With due respect, I really don't think you're thinking about your arguments. You're complaining about tax cuts and tariffs in the same sentence. You probably don't realize that tariffs are literally a tax, generally paid by the richest companies in America. The partisan takes on these issues often don't really make any sense whatsoever.

America entered into unprecedented debt exclusively by unprecedented spending. Government receipts (all the money the government takes in each year) has exponentially increased and basically never decreased except during major economic crises. [1] It's just that for every $1 the government takes in, they invariably decide to spend $1.20 more.

For the US this was more tolerable than for other nations because of a variety of factors - essentially coming down to the "special" place of USD in the world economy. But for a country like Germany diving into the debt hole will likely be catastrophic, even more so as they don't have control over their own currency. Gerexit starting to trend would be amusing, but also not entirely surprising if you've been paying any attention to German politics.

As for the implementation of the tariffs - no I don't think it's been done well. Of course I can take a purely ideological stance while the government is more obligated to take a pragmatic one, balancing the short-term pain such a change will entail against public support of it.

[1] - https://fred.stlouisfed.org/series/FGRECPT




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: