Crazy to think that china since 2018 has an average 6% deficit on its core federal budget and also a 6% deficit budget in provincial government. Xi also passed mega tax cuts in 2016 for 2018 . And decided to go full trump in 2022 with 8% of federal deficit. So debt has accrued since covid at a rate of 12% for china. China has surpassed the ue public debt in 2024 and is going strong. At that rythm it would take 4 more years to catch up to us debt to gdp core . The eu would be the lone bastard trying to enforce debt brakes. Because trumps next budget is 1.5 trillions for the military coupled with a 2 trillion or 3 trillions tax cut. So both are gunning to see who can have the biggest deficit.
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Crazy to think that china since 2018 has an average 6% deficit on its core federal budget and also a 6% deficit budget in provincial government. Xi also passed mega tax cuts in 2016 for 2018 . And decided to go full trump in 2022 with 8% of federal deficit. So debt has accrued since covid at a rate of 12% for china. China has surpassed the ue public debt in 2024 and is going strong. At that rythm it would take 4 more years to catch up to us debt to gdp core . The eu would be the lone bastard trying to enforce debt brakes. Because trumps next budget is 1.5 trillions for the military coupled with a 2 trillion or 3 trillions tax cut. So both are gunning to see who can have the biggest deficit.