Posted on 04/18/2024 8:50:01 AM PDT by SeekAndFind
For Joe Biden, government spending has no bottom.
There's always a student loan to 'forgive,' a green scheme to lose money on, or an illegal alien to offer a 'free' lifetime service package to. And bureaucrats to hire, lots and lots of bureaucrats...
As a result the U.S. deficit has hit record levels.
According to the Treasury Department:
A deficit occurs when the federal government’s spending exceeds its revenues. The federal government has spent $1.06 trillion more than it has collected in fiscal year (FY 2024, resulting in a national deficit.
And the national debt? The Treasury Department says:
The national debt ($34.60 T) is the total amount of outstanding borrowing by the U.S. Federal Government accumulated over the nation’s history.
The U.S. recently reached a milestone marker of paying more on the interest from Joe's borrowings than it does on defense.
According to Yahoo! Finance:
Americans are familiar with the impact of higher interest rates, which are making it more expensive to carry credit card debt or buy homes and cars. But the federal government is also getting walloped: Spending on interest on U.S. debt is now the fastest growing part of the budget, and even projected to overtake national spending on defense this year.
Federal spending on interest payments is forecast to hit $870 billion this year — exceeding the $822 billion that the nation will spend on defense in 2024, according to a recent analysis by the Congressional Budget Office. This year's outlay for interest payments represents a 32% increase from last year's $659 billion in interest expense.
That's money down the toilet, money that could have been spent on providing every illegal with an even bigger free ride from the taxpayers, or maybe money that could be spent on schools, roads,
(Excerpt) Read more at americanthinker.com ...
Republicans approved all of this. All. Hold them accountable.
btt
Of course the only way to pay the interest and fund the government will to borrow even more money which will just increase the interest to be paid. We call this a death spiral.
No, the DEMOCRATS approved all of it.
And you approved it too, didn’t you?
“”Hold them accountable.”
No. I hold YOU accountable.
WHAT DID YOU DO TO OPPOSE THE BUDGET DEFICIT???
YOU did NOTHING!!
It is ALL YOUR FAULT
The world economy will fail. There is not enough money in the world to fund the debts. It is only a matter of time and the big question is what comes from the ashes.
Good bring it all crashing down. The globalists asked for this shit. Hope they like being eaten.
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