Defense and entitlements dominate the federal budget (~7% deficit in peacetime with full employment); other spending cuts are insufficient to address fiscal dominance; the political economy of special interest spending makes cuts infeasible.
factualpending
Speaker
DoombergEvidence Quote
“none of the political choices are very palatable and um if anything the the the la last election in the US and elections elsewhere in the world show that like the way to get elected offices is to to Pander to special interest”
Created: 8/11/2026, 7:28:58 AM
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