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Biden’s trillion-dollar spending spree will lead to financial collapse
NY Post ^ | 16 Oct 2021 | Kevin D. Williamson

Posted on 10/17/2021 10:47:33 AM PDT by DUMBGRUNT

And even all that spending isn’t enough: Social Security’s “unfunded liabilities” — how much money the government would need today to make up the difference between the money that will be paid into Social Security in the future and the benefits that have been promised — is about $40 trillion.

How much is $40 trillion? It is all the money in the world — literally: All the cash in circulation, plus all the deposits in checking accounts and savings accounts, adds up to about $40 trillion. That is a big hole to climb out of.

Just as inflation can cause more inflation, one of the biggest drivers of today’s budget deficits are yesterday’s budget deficits. The federal government is currently spending more than half a trillion dollars a year on interest payments for money borrowed in the past — money that already has been spent.

Our budget game is one part musical chairs, one part Russian roulette, and somebody is going to have to lose when the music stops.

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; Chit/Chat
KEYWORDS: bidenadm; bidenspending; clowardpiven; debt; economy; falsepremises; followthemoney; hyperinflation; inflation; plandemic; trillions
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To: FreshPrince

—” remember reading about the imminent financial collapse predictions for EVERY president that did spending sprees....”

And sooner or later the USA will run out of gas and down the swirl we go...


21 posted on 10/17/2021 12:45:12 PM PDT by DUMBGRUNT (("The enemy has overrun us. We are blowing up everything. Vive la France!"Dien Bien Phu last message)
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To: SaveFerris

He’s probably already here and is just waiting in the wings..

(I would not be surprised if it’s Obama).


22 posted on 10/17/2021 12:50:59 PM PDT by laplata
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To: laplata

Lots of strange stuff since he showed up.

Something weird is going on in the world. 🌍🌍🌏🌎🌍🌏🌎

/Captain Obvious


23 posted on 10/17/2021 12:58:33 PM PDT by SaveFerris (The Lord, The Christ and The Messiah: Jesus Christ of Nazareth - http://www.BiblicalJesusChrist.Com/)
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To: Jim Noble

Deterrence would be winning. And everything that comes with it.


24 posted on 10/17/2021 1:39:04 PM PDT by Williams (Stop Tolerating The Intolerant)
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To: DUMBGRUNT

That’s their game plan - collapse.


25 posted on 10/17/2021 1:53:28 PM PDT by curious7
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To: DUMBGRUNT
Distraction As Policy While Our Economic Rome Burns
26 posted on 10/17/2021 1:54:10 PM PDT by blam
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To: SaveFerris

He’s as evil as anyone who has ever lived, IMO.


27 posted on 10/17/2021 3:00:32 PM PDT by laplata
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To: laplata

I just can’t believe anyone falls for his act.


28 posted on 10/17/2021 3:05:43 PM PDT by SaveFerris (The Lord, The Christ and The Messiah: Jesus Christ of Nazareth - http://www.BiblicalJesusChrist.Com/)
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To: SaveFerris

I agree. But so many have no ability to discern or think critically.


29 posted on 10/17/2021 4:32:01 PM PDT by laplata
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To: DUMBGRUNT

Some day..yes...

But the “immenient” predictions would make chicken little blush...


30 posted on 10/17/2021 5:01:16 PM PDT by FreshPrince
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To: blueunicorn6

Umm...

Reagan, Bush I, Bush II, Trump, all ran up the debt.

The blame is on both parties.


31 posted on 10/17/2021 5:02:43 PM PDT by FreshPrince
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To: FreshPrince

Reagan, Bush I, Bush II, Trump, all ran up the debt.


Son of a bitch.....I thought the House controlled the purse strings.

Never knew Presidents had carte blanc power for that.


32 posted on 10/17/2021 5:05:22 PM PDT by nesnah (Infringe - act so as to limit or undermine [something]; encroach on)
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To: Cecily

“Wasn’t Kevin D. Williamson one of the strongest Never Trumpers over at National Review? “

He was and probably still is.


33 posted on 10/17/2021 5:05:48 PM PDT by Pelham ('Viruses don't exist' is the latest variant of Flat Earth theory)
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To: DUMBGRUNT

The percentage of Gross Domestic Product that goes towards paying the interest on the national debt is lower today than at any time during the 20 years from 1981 to 2001.

https://fred.stlouisfed.org/series/FYOIGDA188S

It’s currently at the same % of GDP that it was in 1949.

Macroeconomic predictions are a lot more complicated than what the buffoonish Kevin Williamson is doing.

He ought to stick to his old social Darwinian routine of telling Rustbelt Americans that they deserve the lives of unemployment and drug abuse that globalism handed them.


34 posted on 10/17/2021 5:32:52 PM PDT by Pelham ('Viruses don't exist' is the latest variant of Flat Earth theory)
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To: FreshPrince

Thank you for identifying yourself.


35 posted on 10/17/2021 5:45:45 PM PDT by blueunicorn6 ("A crack shot and a good dancer”)
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To: DUMBGRUNT

Dos Vidanya.


36 posted on 10/17/2021 5:51:05 PM PDT by sauropod
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To: blueunicorn6

Facts are stubborn things


37 posted on 10/18/2021 5:31:05 AM PDT by FreshPrince
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To: nesnah

Repubs have controlled the house and or senate at times during these adminstrations, no?


38 posted on 10/18/2021 5:33:09 AM PDT by FreshPrince
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To: nesnah

So the buck never stops here when it is a Republican signing off on the wild spending?


39 posted on 10/18/2021 5:33:52 AM PDT by FreshPrince
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To: FreshPrince

Thank you for identifying yourself.

Nothing I enjoy more than seeing someone prove themselves over and over.


40 posted on 10/18/2021 6:29:32 AM PDT by blueunicorn6 ("A crack shot and a good dancer”)
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