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Over the past two months, the federal government has spent an unprecedented $2.6 trillion addressing the COVID-19 crisis, with another $3 trillion in new spending that is up for debate. Daniel Heil, a Hoover research fellow specializing in fiscal policy, explains the short- and long-term effects of “binge-spending” and why any serious conversation about fiscal and entitlement reform is years way at best.
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So, what % of social security does go to high income individuals? What amount is considered ‘high income’? If they are collecting social security, why are they collecting income? Or do you mean social security recipients who are say worth more than a million or so dollars?
How does new debt equal less private investment? Is this theoretical, because new debt may require new taxes at some point? Or does it more directly affect things now? Is it because new gt spending increases the cost of everything else, including labor?
Why do these modern debt hawks, want to go after the entitlement spending more than ‘discretionary’ spending. Some of us believe, there’s lots of waste in defense and intelligence, that the FBI is out of control with too much power, and should not be involved in intelligence, that the bureaucracy is clearly too large, making new regulations to control what private enterprise wants to do. … and why can’t we rely on the states to create and enforce most of these regulations?