Posted on 01/26/2016 11:59:07 AM PST by TigerClaws
The federal government will be flirting with $30 trillion in debt within a decade, the Congressional Budget Office reported Monday, blaming an aging population, new spending and tax cuts approved on Capitol Hill, and the growing burden from Obamacare for erasing the progress Washington had made over the past few years.
Analysts said Obamacare will chase more workers out of the labor force over the next five years, adding pressure to an economy still struggling to spring to life more than seven years into the Obama recovery.
(Excerpt) Read more at washingtontimes.com ...
Thank you Paul Ryan for playing ball.
The headline says they blame looming tax HIKES, but the article says they blame tax CUTS.
As interest rates rise, our chickens will come home to roost.
They’ve actually put the Fed in a box. Want to take down the country AND the entire global economy with it? Go ahead and raise rates.
Why would spending cuts contribute to the debt?
What a legacy!!
OK, I see now, that reads “new spending AND tax cuts”
It looks like it’s very poorly written. I think they are describing two separate things: new spending, and tax cuts.
The Feds “blaming an aging population” as one reason for the massive debt will soon gut Social Security, which we seniors were forced to pay for in the first place. Next, the Feds will do whatever they can to force euthanasia on that same aging population. This does not turn out well for seniors.
Obama recovery??!
Socialism only works until you run out of other people’s $$.
Who’d have thought the illegal, unconstitutional Ponzi tax (aka ‘Social Security’) would be so bad?! /s
Kill off the old white Republican voters.
Replace them with “refugees” from the Middle East.
What could go wrong?
Didn’t a campaigning Obozo say something about the debt being a crime against future generations? Ah well. Whatever he said he got elected. Twice.
>>...for erasing the progress Washington had made over the past few years.<<
This can’t be a serious statement. Progress? Washington making progress? Come on man!
This story begs us to support Art-1-Section-8-minded candidates.
More than a few come to mind for Congress. Only one comes to mind as POTUS.
No agenda in that article. /sarc
How is $30 Trillion in direct debt (and 3-4X that in unfunded liabilities) even possible?
Its possible because of our monetary system, based on a total, unbacked, fiat currency which can be manipulated at will by the Federal Reserve.
That’s why the founders of this country declared the US currency would be based on precious metals. It is something completely out of the control of politicians. It makes citizens equal to their government. Massive government debt would simply be impossible.
Its too late now. FED.GOV and the progressive empire it supports both home and abroad can not go back.
“Its too late now. FED.GOV and the progressive empire it supports both home and abroad can not go back.”
It will eventually collapse and then the world will get quite ugly.
$30 tril = a cathedral of human skulls in D.C.
They are jealous of the Giza Pyramids.
Patriots, please beware of unconstitutional federal budget and debt.
From a related thread . . .
Patriots, please note that a previous generation of state sovereignty-respecting justices had clarified that Congress is prohibited from appropriating taxes in the name of state power issues, essentially any issue that Congress cannot justify under its constitutional Article I, Section 8-limited powers.
”Congress is not empowered to tax for those purposes which are within the exclusive province of the States.” - Justice John Marshall, Gibbons v. Ogden, 1824.
Based on the Courts statement above, here is a rough approximation of how much property owners and other taxpayers should be paying Congress annually to perform its Section 8-limited power duties.
Given that the plurality of clauses in Section 8 deal with defense, and given that the Department of Defense budget for 2015 was $500+ billion, I will generously round up the $500+ billion figure to $1 trillion (but probably much less) as the annual price tag of the federal government to the taxpayers.
In other words, the corrupt media, including Obama guard dog Fx News, should not be reporting multi-trillion dollar annual federal budgets without mentioning the Supreme Courts clarification of Congresss limited power to appropriate taxes in budget discussions.
Remember in November !
When patriots elect Trump, or whatever conservative they elect, they need to also elect a new, state sovereignty-respecting Congress that will work within its Section 8-limited powers to support the new president.
Also, consider that such a Congress would probably be willing to fire state sovereignty-ignoring activist justices.
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