How much of this spending went to left wing NGOs and was lost to fraud.
AOC should pay back her student loan.
Hey, I’ve been doing my part.
Modern Monetary Theory.
Only something that forces spending down, like a Balanced Budget Amendment (BBA) has any chance of success. Congress won't pass that. The states came close to calling a Convention Of States to create a BBA . In response Congress passed a phony alternative and the ploy worked.
It’s not actually the spending that’s the issue, it’s the creating the funds to facilitate that spending that’s the problem. THe money supply is increasing due to fractional reserve bankstering, and the governement is first to spend this new “money”, while we as savers have part of our accounts stolen in the form of inflation.
It’s sustainable for another 2 decades but that’s it.
It’s a good article... but it’s just as slanted as the WSJ.
It’s been a Bi-Partisan effort to get to this level of debt. All of the issues mentioned by every party helped dig the hole.
Allowing tens of millions of illegals into the country and giving the back door access to benefits and a front-line seats at the University of Fraud also made things worse.
This problems IS fixable... I still believe that. But man, are we running out of time. We have to cap spending, hard. And we’re going to have to put much stricter limitations on who gets aid.
We probably will have to raise taxes some... but it’s going to have to be broad based..ie NOT just on the rich. Even with all this, it will take some time. But we can get there.
The only other option is, debase the currency and see EVERYONE take a huge hit in their standard of living. If people think things are unaffordable now? What what happens with uncontrolled inflation.
Giving away money to scammers and buying votes with taxes is not “spending.” Time to shut this down.
The “Cost of Government”, which isn’t included in the standard measures of inflation, is the SINGLE LARGEST cause of inflation and “unaffordability” of everyday needs.
Sorry folks, we’re not gonna grow or save our way out of this. Too much debt.
There WILL be a reckoning, and it’ll be ugly.
One analysis: check out John Mauldin’s thoughts from the front line.
https://www.mauldineconomics.com/
Just one of the many wonders of Central banking using Credit Money. Andrew Jackson was the last person to put and to the banking Cartel and PAY OFF THE DEBT, and he did it by Abolishing the 2nd Central Bank, we need to the same with the 3rd central bank.
Through the decades the government has published a pie chart depicting the various ways the taxpayer’s wallet was eaten by the wild dogs. The big honking expense that was treated with whispers of fear was entitlements, which they said could not be touched for its political sensitivity.
Now we know Entitlements was as fraudulent as a 400lb urban lovely walking out without paying for her rampage through the buffet.
Ping
total historical spending since President Lyndon Johnson launched the “War on Poverty” in 1965 has exceeded $30 trillion
For later.
L
If people wanted to address the affordability crisis and actually HELP the American people they would do this:
28th Amendment.
No Congressperson (House or Senate) may run be sworn in to serve in either House if they are in office when a budget is passed, or an extension given, that exceeds the prior year tax revenue. No Congressperson who is in office will be entitled to any government Benefit, including Medical, Retirement, or other benefits, NOR will their family members be entitled, if they participated in an event of exceeding the tax revenue of the prior year. Ineligibility is lifelong.
After that, sit back and watch. “and just like that” things will actually start to make sense again.
Ltr
There are many reasons for our outrageous national debt.
But to dismiss wars as a top reason is disingenuous, to say the least.
🙁