It’s also just flatly false. Our GDP goes up every year, with only a few exceptions, and every year we’re comfortably able to service our debt. We have the best credit in the world—except when the GOP decides not to pay our bills. By any reasonable interpretation, we’re “profitable.” - ThreadSky

athul.acharya.cc • 2 days ago

It’s also just flatly false. Our GDP goes up every year, with only a few exceptions, and every year we’re comfortably able to service our debt. We have the best credit in the world—except when the GOP decides not to pay our bills. By any reasonable interpretation, we’re “profitable.”

Reposted from Jay Willis

“America is deeply unprofitable” it’s a country not a B2B startup you fucking dweeb

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jasonryer.bsky.social•2 days ago

It's very ignorant as well to push this Doge stuff when it comes out the trillion saves was Trump's payment to bezo,Zuckerberg,and musk.

Just saying.

lawcreep.bsky.social•2 days ago

I wonder too what they expect a "profitable" government to look like. Somehow I doubt it's redistributive cash dividends to taxpayers.

athul.acharya.cc•2 days ago

If you never retire and you never die, this is a great way to live. Hint: that describes countries

lawcreep.bsky.social•2 days ago

Also, raising revenue never enters into these weirdos' metaphors to businesses or housed finances, weirdly enough

rismith.bsky.social•2 days ago

The UK didn't finish paying off debts from the 16th century East India Company and the 1720 South Seas Company ponzi scheme until 2015.

lawcreep.bsky.social•2 days ago

Also the debt owed to slaveowners for emancipation

athul.acharya.cc•2 days ago

And look how it worked out for them—they got a shit ton of doctors and engineers and even a prime minister out of it!

stephenjudkins.bsky.social•2 days ago

Also "servicing debt" means "providing low-risk saving opportunities". Treasury bonds being available to purchase is good, actually

athul.acharya.cc•2 days ago

I couldn’t fit that into the (stupid, inapt) metaphor, sadly

onbluskysku.bsky.social•2 days ago

Becoming a degrowther to...own the libs

emer.net•2 days ago

Also, you’ll do 15 years for printing your own money, but countries can sure do it.

jlp2024.bsky.social•2 days ago

It's also flat out stupid. For 80 years, America, a supposed failing business of a country (whatever that means) has maintained world order and helped ensure relative stability compared to most of human history in a way no other "great state" has done so.

thierryemanuel.bsky.social•2 days ago

Can we agree on, that the U.S. isn’t just a failed state but also a failed society?

mariootsa.bsky.social•2 days ago

So who are americas shareholders?

peterdebode.bsky.social•2 days ago

Its just a nonsense comparison. And as $ is reserve curr I'd stay away from debt servicing comparisons..ratio is above 120%..not exactly the safe zone...

spencerwindes.bsky.social•2 days ago

Also, it’s primarily not “outsiders” loaning us money. Less then 1/3rd of US treasury bonds are held by foreigners. Most of our debt we owe ourselves. And the reason foreigners buy our bonds is their extraordinary stability and our exceptional ability to pay them off.

rheumecraig.bsky.social•2 days ago

God, the Dunning Kruger is strong here

gloriasin.bsky.social•2 days ago

The government runs as a non-profit that is not meant to be "profitable" like a private business. USPS wouldn't deliver to rural areas if it only cares about making $ -- its true purpose is in nation-building and to connect all citizens. These libertarian techbros would love to destroy this country!

abcflowe.bsky.social•2 days ago

I get what you're saying but if we're spending more than we're bringing in, doesn't that mean the govt is not profitable? Not saying it should be in the first place, and that's a dumb argument to make. But GDP is a bit different from income

mrpothead.bsky.social•2 days ago

The vast majority of economic “hiccups” over the past 24 years have happened under Republican control of the White House and congress.

poormarlowe.bsky.social•2 days ago

They think profit is a private swimming pool of gold coins, rather than increases to living standards

robb.doering.ai•2 days ago

I think it's even dumber, sadly: they view the federal government as its own standalone corporation. It has indeed been in the red for ~25y, but A) the republicans are objectively the primary causes of that, and B) there's economists ("MMT" believers) who say that fed debt isn't a problem on its own

robb.doering.ai•2 days ago

So IMO technically it's true that the federal government isn't "profitable", but that's a braindead way of thinking about the situation. It's not a company ruthlessly gathering as much profit as possible, it's an elected government that keeps taxes as low as it possibly can on purpose.

robb.doering.ai•2 days ago

We could become "profitable" in a day by raising taxes, we just choose not to! Both because having debt isn't necessarily the worst thing in the world, and because the republicans are slimy fuckers who keep passing tax breaks for the >$400K income bracket

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