1) the debt to GDP is what happened to Japan. As David Bahnsen points out, the expansion of government spending starves private investment and can lead to disinflation.
2) very similarly, the Federal government is just too big, doing too many things. The biggest cost increases are in the areas government is “helping”. What should happen is a decrease in spending in line with revenue, not increasing revenue. Money is better invested in the private sector not the public sector. We are blessed with a strong country but that too could change slowly and then rapidly.
3) I don’t understand what Rubin is thinking that Trump would weaponize the DOJ. The DOJ has been weaponized by Obama and even more so Biden. Trump actually obeyed Supreme Court decisions on limiting executive and regulatory power, the other two didn’t. Obama and Biden both flouted Congress. The Biden Administration has used Lawfare extensively.
A few points:
1) the debt to GDP is what happened to Japan. As David Bahnsen points out, the expansion of government spending starves private investment and can lead to disinflation.
2) very similarly, the Federal government is just too big, doing too many things. The biggest cost increases are in the areas government is “helping”. What should happen is a decrease in spending in line with revenue, not increasing revenue. Money is better invested in the private sector not the public sector. We are blessed with a strong country but that too could change slowly and then rapidly.
3) I don’t understand what Rubin is thinking that Trump would weaponize the DOJ. The DOJ has been weaponized by Obama and even more so Biden. Trump actually obeyed Supreme Court decisions on limiting executive and regulatory power, the other two didn’t. Obama and Biden both flouted Congress. The Biden Administration has used Lawfare extensively.