AntonToo
Diamond Member
- Jun 13, 2016
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There is a current claim, repeated by the media, that our national debt is $28.08 TRILLION.
View attachment 569687
At this point and noting the accelerating rate of deficit spending, the proportion of payment of just interest on the debt to “revenues” is unquestionably going to become much much larger. Like a person who can’t handle their own household budget, the government will “borrow” ever more just to pay interest. Of course, the government will probably in just “print” money but this makes each dollar increasingly less valuable. (And some will tell us that inflation isn’t a big deal.
Now consider, the $28 TRILLION DEBT figure is phony. It doesn’t include unfunded mandates like pensions. Anyone care to take a stab at THAT one?
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You Think The Deficit Is Bad? Federal Unfunded Liabilities Exceed $127 Trillion
The federal unfunded liabilities are catastrophic for future taxpayers and economic growth.www.forbes.com
I know that most liberals and progressives and economic authorities like AOC will dismiss this as pure right wing hysteria, but for reasonable people, I suggest that our addiction to spending and debt and deficit spending is the most urgent problem we face as a nation.
nope, I don't buy it for a second.
If you Republicans/Conservatives really belived it's problem#1 then you'd agree to put your tax-cutting and millitary spending dogmas aside and agree to compromise - a raise in taxes along with cutting spending. A Grand Bargain like that is the only way we are ever seriously getting budget under control.