Posted on 05/05/2024 7:47:22 AM PDT by Kaiser8408a
I wonder how long it will be before our wonderful government will empty out Ft. Knox’s gold bars to pay for their fiasco?
The only plausible way out of this is a combination of SUBSTANTIAL cuts in spending, as in the abolition of entire departments and entitlements and massive tax increases. This will hit the middle class extremely hard as that is where most where the real money is.
Most politicians know this but they insist on whistling past the graveyard. They don’t want this to hit on their watch. It will be uglier than most can imagine.
“NO NATIONAL INTEREST IN UKRAINE.”
The spending on Ukraine is PALTRY, MINISCULE against Biden’s unnecessary 0% “national interest” domestic spending.
There is no stop. There is only the plan.
To do so would cut off the money to tens of millions of recipients, citizens and illegals alike.That's what they want people to think... people will die in the streets without the deficits we're running. Utter BS.
The Fed Gov spent $3.5T in 2014. They are spending more than $6.5T this year. Their spending has nearly doubled in 10 years! That money isn't going to improving roads, quality of life, or even supporting war efforts around the world. It's graft to the New World Order, pure and simple. They are bleeding us dry.
This is the result of continuing resolutions. They increased spending in the Fiscal Crisis... and continued to increase from that baseline. They increased spending in the COVID period... and continued the increases from that new baseline. It's baseline budgeting with automatic increases and there is never a reversion to historical norms... never a call for fiscal sanity.
Federal spending usually takes 1 1/2 years to hit the economy in a meaningful way. When Biden took office very little of the “original” stimulus had “hit”. Yes, the second package was unnecessary. The third package is just hitting now—and over the summer—so it will drive inflation this fall going into the election.
In any event, we can disagree on “who is responsible for today” but this isn’t a “today” problem. This has been going on for decades.
Foreign aid is not really making that much of a difference. And MOST of that comes right back into the MIC.
There’s an old saying, “That which cannot continue forever will therefore by definition stop”. This WILL stop when we collapse, but the lead-up and the finale will be a horror no one wants to live through.
You act like the money we're spending is monopoly money. It's not. It's call contributing to a crush national debt.
And, every penny would be used in this country on OUR PROBLEMS AND OUR CITIZENS.
Before we waste another penny on Ukraine or some other venture to enrich our political class, we can drag you through the streets by your testicles.
America is unlikely to elect people who would “stop” any of this.
$60 trillion of budget on the books with at least $210 trillion in future, unfunded liabilities, as well as the $145 trillion that Dr. Mark Skidmore has found missing in HUD and military spending that is now hidden away behind national security brings us some $300 trillion in debt.
Think we can pay that back?
Dr. Mark Skidmore and the missing $145 trillion.
https://www.youtube.com/watch?v=kxJ0fgqX8b0&ab_channel=ArcadiaEconomics
Another confusing article from the dopes at Confounded Interest.
Congress creates the US National Debt, not the Fed.
Congress authorizes and orders the amount of debt to be issued, and the Treasury Department funds it by selling Bonds.
Treasuries are sold at weekly auctions. Interest rates are determined by what Primary Dealers are willing to pay. They aren’t set by the Fed, the Treasury, or anybody else.
If we want to reduce the size of the US national debt and the amount of money paid out in interest we have to figure out how to get Congress to quit spending. No one has figured out how to accomplish this.
TAXATIOIN without representation
INFLATION without representation
INVASION without representation
DEBT NATION without representation
Yes. $200 billion over three years is a paltry pittance over the extra trillions per year in Biden’s extra domestic programs. The Ukraine aid is a distraction from the real financial culprit in Biden’s domestic spending.
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