This is an op-ed piece, not fact-checked by a publisher. Let's do the publisher a favor and fact-check it.
The author doesn't say how he determined that "interest rates were de facto zero" since interest rates have NEVER been zero. He seems to have scanned the information from the Federal Open Market Committee (FOMC) ... the Federal Reserve... without honestly understanding what's meant by it. These rates go up when inflation goes up; it's a measure to curb a ruinous potential.
Forbes (a very conservative publication) has this more informative article on interest rates and how the Fed is using them to avoid rampant inflation, recession, and other economic damage (note that this goes back WAY before Trump took office) : https://www.forbes.com/advisor/investing...e-history/
Again, no idea how our government works. These taxes aren't suddenly levied by whim, but rather have to pass through the hands of our Congresscritters -- and more locally, through state and local lawmakers. They aren't just handed down from on high in stone tablets. There are two main parties controlling this, and for much of the past decade the Republicans were in control -- depending, of course, on where you live and who you voted in.
The author needs to look at legislation and who's blocking or supporting what actions. Blanket statements like the ones that are presented in this op-ed make for dramatic reading but don't hold up well on closer examination.
(have to trot off on an errand... will be back in a few hours.)
Quote:As long as interest rates were de facto zero, both parties ran up gargantuan debt. Now the national debt has hit $34 trillion.
The author doesn't say how he determined that "interest rates were de facto zero" since interest rates have NEVER been zero. He seems to have scanned the information from the Federal Open Market Committee (FOMC) ... the Federal Reserve... without honestly understanding what's meant by it. These rates go up when inflation goes up; it's a measure to curb a ruinous potential.
Quote:Interest rates have soared from de facto zero and are on a trajectory to 5.5%—meaning that the interest on the debt, in theory, in the not too distant future will require 20 percent of the annual budget, squeezing out both entitlements and defense.
Forbes (a very conservative publication) has this more informative article on interest rates and how the Fed is using them to avoid rampant inflation, recession, and other economic damage (note that this goes back WAY before Trump took office) : https://www.forbes.com/advisor/investing...e-history/
Quote:Is the goal massive “redistribution” by ensuring “equity” by gouging the middle class and rich?
Again, no idea how our government works. These taxes aren't suddenly levied by whim, but rather have to pass through the hands of our Congresscritters -- and more locally, through state and local lawmakers. They aren't just handed down from on high in stone tablets. There are two main parties controlling this, and for much of the past decade the Republicans were in control -- depending, of course, on where you live and who you voted in.
The author needs to look at legislation and who's blocking or supporting what actions. Blanket statements like the ones that are presented in this op-ed make for dramatic reading but don't hold up well on closer examination.
(have to trot off on an errand... will be back in a few hours.)
