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With all of your references to Democracy and bugs, you do not mention this important point made in 1951 by Elmer T. Peterson, quoting Tytler circa 1750, with this profound observation: "A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury. After that, the majority always votes for the candidate promising the most benefits with the result the democracy collapses because of the loose fiscal policy ensuing..."

A significant bug, to use your terminology, is our issued debt over $36 TRILLION (with interest of about $3 billion per day). We are recklessly "deficit-spending" - for a lot of programs with zero to negative ROI. We also do NOT account well for unfunded liabilities due to our budget trickery with "cash accounting" & "10-yr-budget-windows." A 2024 House Budget Committee report cites a $140 trillion unfunded liability for Social Security and Medicare, based on pledges by politicians and obligations passed into law by irresponsible legislatures. Our same government would imprison individuals and organization leaders like you or me who misled stakeholders by not using "accrual accounting" to show outstanding obligations made by their decisions.

This debt incurrence and reckless spending habit across parties are ruinous. I strongly recommend paying attention to Ray Dalio in his books and speeches on our looming debt crisis: His Principles for Navigating Big Debt Crises (free PDF at economicprinciples.org) is worth reading, as well as this video on "How Countries Go Broke:" youtu.be/s5kQkpnwtCE

Apr 30
at
5:03 PM

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