Posted on 08/21/2019 10:44:37 PM PDT by Berlin_Freeper
The Congressional Budget Office (CBO) released a grim update Wednesday to its economic outlook for the next decade, predicting average national deficits of $1.2 trillion every year through 2029, due in large part to recent budget and border security bills.
The CBO report noted that, as one of many repercussions from free-spending policies, federal debt held by the public is projected to reach heights not seen since the 1940s, almost equaling the nation's Gross Domestic Product.
(Excerpt) Read more at foxnews.com ...
[[predicting average national deficits of $1.2 trillion every year... due in large part to... and border security bills.]]
BS- the whole damn border would cost around $25 billion dollars- plus a few billion a year to maintain and patrol perhaps- BUT illegal invaders are estimated by several sources to cost this country anywhere from $400 BILLION Dollars to $600 BILLION Dollars per year- EVERY single year- when all the expenses direct and indirect are added up- and these figures were from a decade or more ago now- that number is likely to be well over $1 TRILLION DOLLARS per year now- just on illegals alone-
He tweets that Germany is getting “paid to borrow money” and asks, “WHERE IS THE FEDERAL RESERVE?”
“While some of the costs summarized above are subsets, e.g. cost of the murders as part of the cost of crime, as you can see the economic costs of tolerating illegal immigration is quite considerable. You are paying for it in terms of higher taxes, insurance premiums, et cetera. Some estimates place the net costs of each illegal alien in the country at $50,000 – $100,000. (FYI: 12,000,000 X $50,000 = $600,000,000,000) When the all the indirect costs are factored in, it is probably even higher. In any case, it is a cost that YOU are paying for.”
Yeah, and the lure of all that free money from Uncle Sugar is EXACTLY the reason why illegal aliens are flooding into this country.
As I recall, Trump said something about turning off the immigration magnet during the campaign or soon after.
The entire traitorous political establishment is fighting him on this, Republicans and Democrats alike.
Eliminate welfare, and the problem is solved.
The U.S. is bankrupt.
Rush Limbaugh explained baseline budgeting years ago, and how Obama blew up the deficit spending
https://youtu.be/QtU0pbRXfAI
Everyone realizes, I should hope, that even the existing debt can only be resolved by either default or hyper-inflation. Obviously neither of those options actually returns significant value to the holders of the debt, therefore logically there is little additional fiscal exposure incurred by issuing new debt. And as well, there are still willing buyers of new debt, who are perhaps planning to find a greater fool subsequently.
In that context I don’t see a good reason to start pinching pennies at this late stage.
No worries, the kids asking for their college loans to be forgiven will forgive the national debt when they pay taxes.
The existing debt can only be cured by getting rid of the Federal Reserve bank. Trump knows this and is working on it.
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