U.S Debt Ceiling, Socialism Awareness Pt. 2

RCT Podcast

The U.S Debt Ceiling- Why we should not raise the Debt Ceiling. It is of my opinion that we should not raise the debt ceiling. Raising the debt ceiling is only taking out loans to pay for shit that we already have incurred expenses for and the largest being social security. I believe Social Security is the biggest mistake in American History and the most costly one. The Problem is that we aren’t raising the debt ceiling to pay for new programs, we are raising it to pay for current programs that were improperly mismanaged and calculated. The money was not there to begin with and it isn’t there now either. https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_GDP_per_capita The GDP in the District of Columbia is 200,277 which is 2 times more than the next highest! Which is New York City. The poorest states in the U.S have 4 times higher GDP per capita than China does and the Chinese economy is not that much smaller than the U.S. When some one says that communism or socialism is the way to go and promotes equity and equality, they are wrong. When tithe United States Economy collapsed during the great depression, it was able to rebuild it self within ten years and experienced one of the largest economic booms in history after world war 2. It was also able to rebuild it self in a few years after the financial collapse in 2008-2009 as well as last year during the pandemic. However when the Soviet Union and other socialist or communist countries go broke and collapse, they need outside countries to help rebuild them and only the ones that have adopted capitalism have been successful such as South Korea, Germany, and Japan. Hong Kong was also another great example of a successful capitalist entity that has only experienced issues as of late with Chinese intervention. Venezuela, Zimbabwe, and South Africa (as of recently) are prime examples of poor leadership, going away from capitalist economies, implementing socialist and communist ideas and completely screwing up the growth and future of the nation. In a world of scarce resources, life is like a card game. If you are playing poker or black jack, not every one is dealt the same hand, and it is the decisions you make with the cards that you are dealt, along with persistence that ultimately lead to success. However the rules of the card game have to allow for successful strategies to be implemented to allow for a chance to win. These successful strategies would be equivalent to barriers to entry in the business world Examples of barriers to entry are Competing Businesses- The anti Trust laws combat businesses from growing to large and having complete control over a market. The government itself in a socialist or communist country would act as a monopoly. Market Culture Market Make up Credit and Financing- Ease of financing and credit will allow for faster growth in an economy however there is a happy medium to this. Operations and Supply Chain Government Regulation- Licensing, taxes, legal processes to start the business. In my opinion this is the reason more people do not start a business. This can be a very complicated step. -The next would be Credit and Financing, Socialist ideals include production for use, rather than for profit; an equitable distribution of wealth and material resources among all people; no more competitive buying and selling in the market; and free access to goods and services. https://www.investopedia.com/terms/s/socialism.asp --- Support this podcast: https://anchor.fm/michael-kee/support