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Politics : The Trump Presidency
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To: zzpat who wrote (65747)4/9/2018 7:28:40 PM
From: TimF  Read Replies (1) of 360164
 
The Cold War ended - A one off.

The tech bubble, not something you can count on.

A congress that paid more than lip service to restraining spending and divided government that though they battled came down on agreeing for some restraint rather than "I get to spend on my stuff if you get to spend on yours" - Definitely not something you can count on.

Better demographics for growth than we have now - Not something that's going to change soon.

None of these things have repeated since then. You had an unusual confluence of events.

As for cutting taxes over and over again - Federal state and local taxes add up to almost a third of GDP. And rates haven't been trending down they have been going back and forth depending on who is in power. Even if the tax cuts haven't been largely reversed by future administrations (at least for the wealthy, taxes have actually declined for the bottom half, at least income taxes have), they are to small to be a serious factor driving the US to bankruptcy. As a cyclical thing rather than a constant trend down they are even a smaller factor. Personally I figure if government on all levels in the US can't get by on almost a third of all production they are doing something wrong (and the thing there doing wrong isn't "not taxing us enough").
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