Why does the U.S government refuse to pay its debts?

[Honesty]

@Chief_Pedant

A third reason for resistance to “revenue generation” is a general perception that government is wasteful and self-serving, and the more centralized it is, the more wasteful and self-serving it is. I certainly hold to that.

I find it fascinating, really, I do, that people think the government is wasteful and self-serving. What does the Postal Office get out Saturday delivery? What does the National Weather Service get out of flying airplanes into the eye of hurricanes? What does the USDA get out of regulating nutrition labels? I could go on and on. I sincerely believe that the people who decry about the waste of government are likely the ones using most rely on their services (e.g. “Keep your hands off my Medicare”).

@Chief_Pedant

A fourth reason is the observation that higher revenues typically lead only to even higher spending.

This is an interesting take, because I look at it the opposite way. Lower taxes lead to less revenues which leads to more debt. We should be honest with ourselves and admit that tax cuts do not spur economic growth. This is precisely the conundrum that occurred in the early 1990’s, Chief Pedant, where the massive tax cut of the 80’s failed to increase tax receipts as promised.

@Chief_Pedant

But for me, the most significant reason is a belief that we have passed the tipping point. Enough of the public has latched on to fiscal irresponsibility that we will never vote in a balanced budget. We’ve collectively figured out we should all make hay while the sun shines, and it feels to the average man that borrowing from the future is kind of painless. We are living high on Other People’s money.

I disagree on the balanced budget for the sake of a balanced budget. Balance the budget once we abolish the tax cuts of the 1980’s.

@Chief_Pedant

I would vote for more taxes–even taxes that affect me as a high-earner most directly–only on condition that we first become fiscally responsible. That we pass an absolute requirement to spend only what we take in. Period. Budgets would be a percent of the net take, and not an absolute dollar amount, for example.

The U.S has been - more or less - fiscally responsible since its founding. The fiscal irresponsibility started in the 1980’s, reversed slightly in the 1990’s, and is now in full-throttle. I’m also curious, do you know that if we had a balanced budget during World War I or II, the U.S would’ve collapsed? Debt isn’t a problem, it’s our profligate and unrestrained use of it that’s the problem.

@Chief_Pedant

For that last reason, I will personally vote against raising my taxes even a nickel. It’s wasted money.

In his farewell address, George Washington spoke against this kind of selfishness and how it’ll be the downfall of the Union. He’s right. The American people are too selfish, too self-absorbed, and too self-centered to have a country like this, and as you say below, “30 years max” and this country will “collapse economically”. We’re running a government on debt and are meddling militarily in other countries, two maxims that were stressed by the very 1st President of the United States.

@Chief_Pedant

I give us 30 years, max, before we collapse economically. It’s gonna hurt.

Bummer

I agree, the U.S is fucked. This is due to us running a government on debt, cutting taxes, refusing to raise revenue, and believing the government is out to get them. All is not lost, however. In the future, there’ll be another financial crisis that’ll wake people up, but by then, most of the damage would’ve already been done, and there will be a lot more people than there is now.

• Honesty