The national debt is driven by the entitlement costs. The ceiling must be raised as a result. 71% of the budget is on automatic pilot. With 10,000 baby boomers retiring every day for the next 20 years, the entitlement costs will rise regardless. 40% of all Medicare expenditures come from the General Fund.
The national debt is driven by the entitlement costs. The ceiling must be raised as a result. 71% of the budget is on automatic pilot. With 10,000 baby boomers retiring every day for the next 20 years, the entitlement costs will rise regardless
I’m tired of hearing about the social security entitlement crap. Anytime they want to give me back the money I paid-in (with compound interest) over the last 49 years, I will be out of your hair.
The service of the Debt (interest payments only) is now 4th or 5th in terms of cost to the Fed Gov’t because any one seriously following this ponzi scheme knows that the ONLY way to pay for the Government Expenses is by ALWAYS BE BORROWING! The reason that the “Debt Ceiling” has to be raised (in the eyes of the Fed Res) is because the Federal Gov’t has to be able to borrow “MORE” in order to pay off its previous debts. Now, it’s simply borrow more to just keep serving the debt! Rates can NEVER go back to “normal” (5%) because that would mean an automatic Federal Gov’t default....again: Welcome to Japan 2.0 (U.S.) because is in worst shape in terms of debt to GDP- yet their 10 yr Interests rates are 0.3% of 1%!!