Look, you guys are not going to understand unless you go learn the numbers. Not the words about who wants what or who has this or that history.
THE NUMBERS.
The deficit this FY will come in about 1.8 or 1.9T. The legislation is going to made that $2.2T next year.
Stop right there. Don’t go looking at details and how this or that is good. Look at that reality. $2.2 Trillion added when Republicans are supposed to be conservatives — and every single penny of that is added to the debt.
The debt is $37T. At 3.4% composite rate among all the various bonds and notes and bills in the debt, the interest is $1.054 T. If you did that multiply yourself you would get a bigger result — I used $31T because the Fed’s QE (that’s what they call creating money from nothingness and using it to buy Treasury bonds) still has $6T of Treasuries on deposit (those do not pay interest).
So in just 1 year, $2.2T will add to that. $33T X 3.5% (the rate is increasing because rollovers are at current rates vs the near 0% rates of 10 yrs ago) $1.15T — an increase in $100B in the interest expense of next year.
WHAT IS RAND PAUL SAYING THAT IS NOT MATHEMATICALLY CORRECT?
The point is that concentrating on the deficit will not fix the problem. If we don’t return industry and reduce the cost of doing business, reducing the deficit will just circle the drain more slowly.
Without growth USA is doomed. The leftist policies of past administrations & deep state have almost put recovery out of reach but Trump’s multi faceted approach has potential to turn the tide.
Rand Paul has tunnel vision. It is possible to make some correct statements but not encapsulate any real solutions to America’s issues.
IOW he’s a one trick pony and that trick does not have realistic chances of moving the needle. He’s a winner with the “ain’t it awful” crowd but doesn’t even move the needle for folks that are pragmatic and love America.