Posted on 12/16/2018 9:19:51 AM PST by Java4Jay
Crickets from Washington
Zzzzzzz
Move along, nothing to see.
This doesn’t include unfunded liabilities
Gotta drain the Swamp first, then replace a lot of Dems & RINOs in Congress. THEN we concentrate on the debt.
I can’t see it happening any other way, if at all.
Actually, its rate of increase has slowed dramatically..
Obammy could have easily run it up to 30T before he left office,, pallets of fresh 100 hundred dollar bills for all our allies&foes that hate us. The world is full of ‘em.
“Gotta drain the Swamp first, then replace a lot of Dems & RINOs in Congress. THEN we concentrate on the debt.”
That’s the best scenario, but highly unlikely.
“I can’t see it happening any other way, if at all.”
Dollar inflation. Lot’s of it.
We’re running close to a trillion dollar deficit with the economy performing better than it has in decades. What do you think the deficit is going to be like when the economy takes a downturn?
illegals used to cost our country between $400 BILLION DOLLARS and $600 BILLION DOLLARS (when all their crimes, and resulting incidental costs are added up, and all their costs to our society like schooling, healthcare, prison terms, lawyers, counselors, etc etc etc are added up)
That was about 2 decades ago that the studies were done- today I imagine thew cost is close to a trillion dollars per year, every single year-
$5 BILLION DOLLARS for a wall? That’s a pure bargain! Build the damn wall!
Solution:
Democrats: raise taxes
Republicans: cut spending...a little
Warren Buffet: pass a law where any Congressmen who
votes for a budget that results in a 3% or more
increase in the debt cannot run for reelection.
Hate to give Mitch McConnell credit, but he did get Obama and the Democrats runaway spending under some semblance of control
It was done in the most counterproductive and destructive fashion, but it did get done
And your idea falls apart right there.
Unfunded liabilities such as social security, are a huge problem.
Some say the social security liabilities will be paid by putting more money in circulation, as time goes on.
The thinking is that the promised amounts will be paid, however, due to the resulting inflation, the buying power of the social security benefits will be nowhere near what it is today for today’s elderly.
Since tax revenue is hitting records, that leaves spending as the problem. A government shut down to force both parties to give up their pet projects might be the solution.
Just cut 5% across the board on everything, every year, until the deficit is eliminated. Force the government agencies to get by on less. There is so much waste and departments purposely use up all of their funding to ensure there is no budget cut the next year.
I have seen estimates that run as high as 200 Trillion when you throw these in.
The U.S. Constitution prohibits this in Article Four, Section Four.
The United States shall guarantee to every State in this Union a Republican Form of Government
a "Republican" form of government is one in which citizens elect someone to represent their interest at the big table in Washington, D.C. Everyone seated at that table is there to represent the interest of the people who voted them in. How then can you say you are representing the interest of someone who is not yet born? You can't. This means that for those who are not yet born to receive the GUARANTEE of a republican form of government, you cannot burden them with debt they were not present to express their interest in. That guarantee has been broken as it pertains to them. The U.S. Constitution clearly says that this is GUARANTEED. We can't pass our debt on to them if it is to be kept.
United States National Debt $21,832,777,608,382.98
United States National Debt Per Person $66,204.57
United States National Debt Per Household $171,469.84
Total US Unfunded Liabilities $123,288,635,872,051.34
Social Security Unfunded Liability $15,111,696,183,035.35
Medicare Unfunded Liability $79,030,134,957,592.80
Prescription Drug Unfunded Liability $19,944,631,306,135.87
National Healthcare Unfunded Liability $9,202,173,425,287.35
If you’re talking about the US deficit of nearly 20 trillion dollars spread out over 300 million citizens, that’s roughly $67,000.00 that each person in the US would owe in debt.
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