Again, at what price? There will be civil unrest in Europe over energy and food prices. A deep recession is inevitable. Europe is not over the hump. What fantasy world are you living in?
Nobody said kicking Russian corruption and influence out of Europe would be cheap or unwind easily. They’ve spent decades and billions of dollars corruptly buying influence in Europe.
We are living in President Trump’s world. He’s spoken many times about the importance of this and his policies back that up.
RuZZia planning for nat gas exports thru 2023-2025. Plans are to EXPORT 40% LESS. Their EU markets are gone. Limited ability to increase exports to Asia.
“Russia Sets Out How Much It’s Going to Cut Gas Flow Through 2025”
“Pipeline exports seen at 125.2bcm in 2023 vs 205.6bcm in 2021”
“Annual pipeline gas exports are set to drop by almost 40% to 125.2 billion cubic meters in 2023-2025, according to the nation’s three-year draft plan, seen by Bloomberg. “
Europe’s knee jerk reaction to the Russian invasion was ill-thought out. The sanctions backfired. The unintended consequences of declaring economic war on Russia will cause a global political realignment and possible end of the dollar as the world’s reserve currency.
In the meantime, we have become stuck in another endless war that will cost many billions of dollars that we must borrow adding to our 31 trillion dollar national debt. And with the Fed raising interest rates, our debt servicing costs will continue to increase taking money away from other priorities.
In late May, the Congressional Budget Office (CBO) projected that annual net interest costs would total $399 billion in 2022 and nearly triple over the upcoming decade, soaring from $442 billion to $1.2 trillion and summing to $8.1 trillion over that period. However, if inflation is higher than CBO’s projections and if the Fed raises interest rates by larger amounts than the agency projected, such costs may rise even faster than anticipated.
The growth in interest costs presents a significant challenge in the long-term as well. According to CBO’s projections, interest payments would total around $66 trillion over the next 30 years and would take up nearly 40 percent of all federal revenues by 2052. Interest costs would also become the largest “program” over the next few decades — surpassing defense spending in 2029, Medicare in 2046, and Social Security in 2049.
Ballooning interest costs threaten to crowd out important public investments that can fuel economic growth in the future. CBO estimates that by 2052, interest costs are projected to be nearly three times what the federal government has historically spent on R&D, nondefense infrastructure, and education, combined.