this post was submitted on 30 Oct 2024
45 points (92.5% liked)

Economics

1711 readers
7 users here now

founded 5 years ago
MODERATORS
 

While Musk is referring to the magical $2T+ in budget cuts to US budget he will sail through magical congressional unanimity...

Hardship has to include the extreme difficulty in reindustrializing the US in an environment where labour is deported, and reciprocal tariffs means serving a local declining market where fewer people have money left over if they are overpaying for imported goods.

Recessions not only reduce tax revenue, they also are typically responded to by significant government investment to pull out of recession, and the US is nearly maxed out already.

you are viewing a single comment's thread
view the rest of the comments
[–] Anticorp@lemmy.world 3 points 2 weeks ago

Past... It's not temporary.