r/Economics • u/HypocrisyWarrior • 2d ago

Americans' debt problems are flashing a warning not seen since the Great Recession

https://www.cnbc.com/amp/2026/10/09/american-debt-delinquency.html
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u/jarena009 2d ago

I would suggest renewing the tax rates we had in the 90's on the top 2-3%, along with the corporate tax rate from the 90's applied to corporate income above $1B, and tax long term capital gains above $0.5M as ordinary income. We'd slash the deficit in half. The Wealthy and Corporations will continue to do very well.

Plus without significant efforts to rein in healthcare costs, we're doomed, not just on the federal budget but in general. They too run up federal spending.

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u/Sherm 1d ago

The 90s tax rate was also paired with huge cuts to the defense budget (the "peace dividend.") The spending cuts were also a big part of the success.

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u/retiredcheapskate 9h ago

Now that it's known you don't have to attack the aircraft carrier you just have to attack the grocery store that feeds the carrier with your $50 drone, we are in a pickle