Jessica Riedl ๐ง ๐บ๐ฆ
@JessicaBRiedl
Fellow @BrookingsInst. Past: @ManhattanInst, Sen. Portman chief economist (2011-17), budget policy for 4 prez campaigns. Fiercely independent. Views mine.๐ณ๏ธโ๐
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The repliers demanding that Social Security match S&P investment returns miss the point. SocSec cannot pay the returns from investments that never occured. You may not like that its setup as a pay-as-you-go system funded by future taxes, but that constrains benefits. (1/2)
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Yale's M4A "study" - which is not peer reviewed - simply plugged in lower spending levels without modeling how the health care system would function under the policies.
So they achieved $1 trillion in savings by... assuming $1 trillion in savings. Congratulations? ๐งต
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Anatomy of a panic:
1) Small group of fact-challenged activists freak out over relatively harmless thing.
2) Everyone else sees them panicking, assumes it must be bad (but not sure why).
3) Politicians baffled by grassroots rebellion, but happy to jump on board in election year.
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Nearly 3 times as many people (44% vs 15%) say they'd support a nuclear power plant being built near where they live than a data center. That is insane.
Every 8 months, another "bombshell" study "proves" M4A will save trillions by... just plugging in a lower spending level.
There's no modeling of how the system would still deliver care - its just an accounting exercise that says the system would be cheaper if it were cheaper.
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Every 8 months, another "bombshell" study "proves" M4A will save trillions by... just plugging in a lower spending level.
There's no modeling of how the system would still deliver care - its just an accounting exercise that says the system would be cheaper if it were cheaper.
Show more
Yale's M4A "study" - which is not peer reviewed - simply plugged in lower spending levels without modeling how the health care system would function under the policies.
So they achieved $1 trillion in savings by... assuming $1 trillion in savings. Congratulations? ๐งต
Show more
Anatomy of a panic:
1) Small group of fact-challenged activists freak out over relatively harmless thing.
2) Everyone else sees them panicking, assumes it must be bad (but not sure why).
3) Politicians baffled by grassroots rebellion, but happy to jump on board in election year.
Show more
Nearly 3 times as many people (44% vs 15%) say they'd support a nuclear power plant being built near where they live than a data center. That is insane.
As everyone argues about the $40 trillion debt threshold, remember:
Its 100% the other party's fault. Your side has never hiked spending or cut taxes. And if they did it was for a good reason and paid for itself. And we can fix deficits entirely by going after the bad people.
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"the American people HAD THE MONEY in the U.S. Treasury and we were forced to give it back" - Scott Bessent.
The party warning against socialism and communism wants you to know that your tariff dollars (seized illegally) belong in the U.S. Treasury for your own good.
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.@SecScottBessent on tariffs refunds:
"The Democrat AGs who filed the ridiculous lawsuit against this Administration wanted the money to go back to the payer of record โ so that is corporate welfare. The American people had that money, and if I hear another Democrat legislator make the inane remark 'the American people should get the money' โ the American people HAD THE MONEY in the U.S. Treasury and we were forced to give it back."
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As everyone argues about the $40 trillion debt threshold, remember:
Its 100% the other party's fault. Your side has never hiked spending or cut taxes. And if they did it was for a good reason and paid for itself. And we can fix deficits entirely by going after the bad people.
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Trump has added $10 trillion to deficits over 6 White House years. He has vowed no changes to Social Security & Medicare, lavished ICE with >$100 billion, and his latest budget demands a $441 billion defense hike.
But I'm sure those huge savings are just around the corner. ๐
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As the concern about the debt exacerbates the bond market, the Treasury secretary just said that he & OMB would be pursuing hundreds of billions in cuts to federal spending. I think the obvious Q is why they can now do what Musk could not
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Yeah, Sean, perhaps those people shouldn't be U.S. senators either?
Forgive my elitism, but I think ALL 100 senators who may someday vote to send troops to Taiwan should be able to find it on a map.
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Yeah, Sean, perhaps those people shouldn't be U.S. senators either?
Forgive my elitism, but I think ALL 100 senators who may someday vote to send troops to Taiwan should be able to find it on a map.
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Neither party will touch SocSec & Medicare.
Both parties want to cut taxes for bottom 95% of earners.
Republicans want a 40% defense hike.
Democrats want aggressive social spending hikes.
Debt interest costs will exceed $1 trillion.
Huge deficits are a deliberate policy choice.
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I cannot imagine being a Republican lawmaker today. You are not allowed to have an independent thought, much less legislate. You are permitted only cult-like devotion to the Dear Leader - and any wrong move will mobilize a cult-like mob of nihilistic primary voters. Why bother?
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