40 billion. FORTY BILLION
Posted on 05/10/2022 9:57:12 PM PDT by RandFan
Partial transcript:
“So this time we have a worse financial crisis than last time and nobody gets a bailout, nobody gets a government check there is no TARP there is nothing and what does that mean that means the US government instead of sending stimulus checks to Americans who were struggling, who are unemployed the US government is actually going to send Americans a bill because the government is going to be forced to raise taxes on the people who still have jobs because that's the only way it can pay its bills but you know what else they're going to do they're going to cut Social Security, they're going to cut Medicare not for future recipients but for the people who are getting checks right now.
The government is going to have to tell people who are on Social Security and who vote you know what we don't have enough already the Fed is fighting inflation right now and so we don't have any extra money and the cost of paying the national debt has skyrocketed and you know we have to pay a lot of money to Japan and China and Saudi Arabia and we don't have any money left over to make Social Security payments so we're going to have to cut your payments. Now maybe they won't say that maybe we're going to say you know what we're just going to tell a Japanese to pound sand and we're going to tell the Saudis and the Chinese we don't have any money we're defaulting on US treasury’s because the only way we can pay Social Security is not to pay you and the people who get Social Security vote and you guys don't. I mean it's going to be some combination of this but can you imagine what would be happening in the US economy if we were doing that if we were defaulting on treasury’s and cutting Social Security raising taxes on the middle class this is all what has to happen if the markets are correct that Powell is committed to fighting inflation and doing whatever it takes but I know that's a fantasy there's no way Powell is going to do any of that at the first sign of real trouble the Fed is going to pivot, the Fed is going to call off these rate hikes in fact any rate hikes that have been delivered will be reversed.”
So they can give them to all to the illegals?
Border trespassers unaffected. VA resources to be reassigned. Couple buhzillion for other countries no problem. Yeah, my swear jar is filling up quick.
A person can always move to Ukraine and collect some money and weapons from the US. Sweet huh?
Any relation to the pencil neck liar Adam SLN?
No relation
But no problem sending $40 billion to Ukraine, right?
So, basically, the Dems/Biden are going to have to raise taxes and cut Social Security — the very things the Dems campaign on that the Republicans supposedly want to cut.
The Dems are in such dire straits they are dumbfounded as to how to save the economy. They have spend the nation into a black hole: raise the FED rate to slow inflation and the national indebtedness skyrockets — with stagflation and recession looming.
Biden needs to man up, quit the blame game, and start trying to fix what he broke.
So stop all monies going to other countries and pay attention to the citizens here - simple....and stop spending!
The crisis isn’t here yet...
I think what he’s saying is that when the crisis hits there will be no more stimulus checks, no more bailouts (like 2008), the cupboard is bare and Social Security / Medicare may have to be cut or they will have to default on the debt
“they’re going to cut Social Security, they’re going to cut Medicare not for future recipients but for the people who are getting checks right now. “
While pouring a waterfall of 40 billion on Ukraine? Yeah, you thought January 6 was sporty, it really WILL be an insurrection if SS checks get cut.
Stop sending cash and stuff to other countries.
Why don’t they start by cutting all the over inflated bureaucratic dead-weight departments? I can think of a hundred areas that can be cut outside of SS and Medicare.
If servicing the debt consumes the entire budget something’s got to give
https://datalab.usaspending.gov/americas-finance-guide/spending/categories/
Welfare is 1.6 trillion
SS is 1.1 trillion
Medicare is $796 billion together that’s
3996 billion per year or ten billion per day. So Ukraine is four days of entitlement programs don’t miss the forest for the trees.
“If servicing the debt consumes the entire budget something’s got to give”
Yeah, us paying more taxes.
Just as when they have to cut budgets they always start with the police and fire department.
The government never actually cuts any fat.
And before anyone starts ranting about Medicare being "free", it isn't. You pre-pay for it with 2.9% tax out of every paycheck and then you must enroll in Medicare part B when you turn 65.
You are kicked off most private insurance even if you are still working.
If you do not sign up for Medicare, once again, even if you are still working, you will have a major rate increase when you do. And at some point you will be forced off your private insurance and on to Medicare.
This is the way the government wants it.
After all the years we paid into Social Security this is what we get. It isn’t welfare, it was stolen from our paychecks. If they do that then cut the welfare check, free phones and other giveaways to those too lazy to work
He’s saying what I’ve predicted. After two or three rate hikes all Hells going to break loose and they will have to lower.
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