AAAAAAAAAGGGGGGGHHHHHHHHH!!!!!!!!!!!!
Its because the rich aren’t paying their fair share.
The Congressional Budget Office says that if we continue at our current rate spending, we’ll “chalk up nearly $7 trillion in red ink over the next 10 years,” according to Reuters.
Yesterday, I saw some democrat saying the CBO said Ryans’ new budget would add to the deficit. At this point, is there ANYTHING that won’t add to the deficit?
Now’s the time to make those big purchases you’ve been waiting on. You won’t be able to afford it later.
Our politicians think a $25 billion cut will solve the problem and they can go home for spring recess.
Some are.
As in those days, the American project is menaced by a survival-level threat. We face an enemy, lethal to liberty, and even more implacable than those America has defeated before. We cannot deter it; there is no countervailing danger we can pose. We cannot negotiate with it, any more than with an iceberg or a Great White. I refer, of course, to the debts our nation has amassed for itself over decades of indulgence. It is the new Red Menace, this time consisting of ink. We can debate its origins endlessly and search for villains on ideological grounds, but the reality is pure arithmetic. No enterprise, small or large, public or private, can remain self-governing, let alone successful, so deeply in hock to others as we are about to be.Gov. Mitch Daniels, CPAC speech
No wonder they are always so far off on their numbers. If we are running $1.6T deficits, we will run up $7T debt in less than 5 years. Do the math, CBO!
politician’s should be horse whipped, debt created in numbers only few can understand, what they have done to the citizens of this country just to get re elected. Our currency all but destroyed and they still cannot stop themselves.
At some point, the gravy train has to end. All kinds of shenanigans have and will be tried to keep it going, but even if they take every cent of every Fortune 500 company and every cent of anyone who makes over $250K a year and every last dime in our 401K’s, it would only buy us a year or two. And at that point, they will have killed the goose that lays the golden egg.
When the austerity comes and sheeple start to realize that politicians have known for decades that we were on an unsustainable path yet did nothing but demagogue, there will be anger like we haven’t seen in this country in a long time. And it will be fully justified.
Localities and states will be first because they can’t print money, but it will slowly trickle up to the federal level.
Thats just looking at our debt as to our BUDGETed allounces, and us going over our budget. That is what we commonly refer to as our national debt.
The REAL DEBT is MUCH,MUCH worse.
There are many things that are paid for that are never put into the budget. These unfunded items are whats CLEARLY killing us.
Simpleton liberals refuse to understand that just at common held $14 TRILLION debt, that would mean that every man, woman and child in this country owes $45,000. Add up the Forbes top 400 richest Americans estimated wealth, (people with an estimated worth of $1 billion or more) and that comes to $1.6 TRILLION. Barely enough to match "this years" BUDGET deficit.
BUT...when we look at our UNFUNDED DEBT, we see that $14 TRILLION in our budget debt is peanuts. I've seen or heard estimates that put our UNFUNDED DEBT at $100-$120 TRILLION.
That means about $390,000 for every man, woman or child. A typical family of 4 would owe over $1.5 million.
This country is bankrupt.
We just haven't been foreclosed on.
We have a population of approximately 310 million people. If we had just 10 million families with 2 parents and 2 kids, owing over $1.5 million each, that would be $15 TRILLION. The entire wealth of all the country's Billionaires would only pay for 1/10th of that. The average family has the majority of its wealth tied up in their homes. The average home is worth about $200,000.
Only about enough to pay HALF THE DEBT obligation for one person, let alone any other family members.
Not to mention, most people owe a mortgage on their homes, so they don't even own that free and clear.
The panhandler on the street corner may end up being about as "wealthy" as Bill Gates.
But, we'll probably have started WWIII before then, and to the victors will go the spoils.
Welcome to the Dark Ages.