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Author Topic: The Trials Ahead for Pete Hegseth  (Read 197 times)

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Offline rangerrebew

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The Trials Ahead for Pete Hegseth
« on: February 24, 2025, 12:53:09 pm »
The Trials Ahead for Pete Hegseth
.By Kim Beazley
The Trials Ahead for Pete Hegseth
Office of the U.S. Secretary of Defense

 
The trials ahead for Pete Hegseth
Donald Trump’s new defense secretary, Pete Hegseth, has enormous challenges ahead of him—challenges that could seriously affect Australia by upsetting key elements of our ally’s defence position, including its ability to deliver the Virginia class submarines that are so crucial to our AUKUS plans.

At the heart of problem is Trump’s hallmark tax cuts and the space he needs to clear in the federal budget to enable the cuts without driving the deficit much deeper into the red. The Republicans are aiming to get their program through Congress by bundling everything together into one or two big omnibus bills. This should help them manage their narrow majorities in the Senate and the House of Representatives, but it creates potential problems among the deficit hawks on their own right flank who will be stripped of the ability to debate the cost of individual programs.

This group of Republicans insist that changes to taxes and spending must be at least budget neutral. They are deeply disturbed by the fact that, since the end of the Cold War, government debt has grown from about 40 percent of GDP to 123 percent today and is still rising at about 9 percent per annum.  Unchecked, it could get to about 195 percent of GDP by 2050.

https://www.realcleardefense.com/articles/2025/02/24/the_trials_ahead_for_pete_hegseth_1093326.html
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The unity of government which constitutes you one people is also now dear to you. It is justly so, for it is a main pillar in the edifice of your real independence, the support of your tranquility at home, your peace abroad; of your safety; of your prosperity; of that very liberty which you so highly prize. But as it is easy to foresee that, from different causes and from different quarters, much pains will be taken, many artifices employed to weaken in your minds the conviction of this truth.  George Washington - Farewell Address

Offline DefiantMassRINO

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Re: The Trials Ahead for Pete Hegseth
« Reply #1 on: February 24, 2025, 12:59:57 pm »

"Unchecked, it could get to about 195 percent of GDP by 2050"

What are GDP projections are they using for this analysis?  GDP can shrink and grow at variables rates.

Until the private sector and foreign governments stop buying US Treasury Bonds, they will continue to be prejudiced towards increased Federal spending.

Politicians, families, and former Government officials use Federal spending to feather their own personal nests.  It is in their self-interest to keep the money train going.
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