We will surpass that estimate with ease.
Posted on 02/24/2019 10:09:02 AM PST by Sean_Anthony
The most effective way to deal with the national debt has always been the same, reducing the size of the gargantuan federal government
In mid-February, our national debt reached $22 trillion, a new record for our country. Since President Trump took office in January of 2017, our debt has increased over $2 trillion. During the administration of President Obama, it increased from $10.6 trillion to $19.9 trillion. Thus, the national debt has more than doubled in 10 years and it is still increasing nearly $1 trillion per year.
According to the Congressional Budget Office, the national debt for this fiscal year will be $897 billion and will top $1 trillion again in 2022. At that point, their forecast calls for the national debt to exceed $1 trillion annually for another seven years as the costs for Medicare and Social Security skyrocket with more Americans from the massive Baby Boomer generation retiring.
Don’t forget our goverment institutions corruption.
During the 80’s there was a bumper sticker was commonly seen stating retirees were going to spend all their money and nothing would be left for the kids... It seems that attitude started there...
Free Healthcare! Free College! Free just means let the kids pay for it
Where’s the commercial or video showing a toddler happily playing suddenly being demanded to pay its thousands of dollars share of the national debt ? When the toddler breaks into screaming” HOW COULD THEY DO THIS TO ME ???” in tears ?
http://www.theusmat.com/index.htm
Government needs to go on a diet.
That $22,000,000,000,000 does NOT include UNfunded liabilities for future Medicare, Medicaid, Social Security retirees.
As sure as Sun will rise in the east, the ever expanding debt will demolish our economy. Currently the interest on debt is almost a BILLION dollars every day, all 365 days. At some point not too far in future, the gov’t will not find buyers for its debt. Then the gov’t has only one other option, turn on the printing presses. And we all know how that ends, as we have seen in every country which tried it in history.
I have worked with small business in bankruptcy. Everything goes along merrily until the day the bank says no more credit...……………….
Ideally, Congress should pass a Balanced Budget Amendment preventing any deficit spending...
We don't get a BBA from Congress passing anything; only the ratification of a BBA gives us a BBA. Just like term limits, Congress will NEVER limit itself. Therefore, a BBA must be proposed by a COS. Ratification is the same, regardless of the source of the proposed BBA.
Another answer is congressional term limits.
See above... this is a non-starter for anything coming out of Congress. Only a COS can seriously initiate this.
What would be great to see would be the federales restricted to doing only that which is strictly within the auspices of Article I Section VIII. Realistically, the next best thing is cutting them with multiple cuts and lacerations.... enough of them, and we'd eventually get to a Art I Sect VIII federal government.
Our national debt is chump change compared to our unfunded liabilities of $122 TRILLION! That liability equals $1,002,048 PER TAXPAYER.
We are drowning in debt.
Democrats AND Republicans in D.C. don’t seemed concerned as long as they get our tax money to buy their votes, as long as they can build a larger and more powerful government, and as long as they retain their power.
Governments state and federal are on a suicide vector.
We will surpass that estimate with ease.
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