Plenty more where that came from.
Posted on 03/12/2021 1:25:48 PM PST by ChicagoConservative27
President Joe Biden and Vice President Kamala Harris celebrated the passage of their massive $1.9 trillion coronavirus spending bill in the Rose Garden Friday.
“I view this as only the beginning,” Biden said of the legislation.
(Excerpt) Read more at breitbart.com ...
Can I ask a stupid question? Nobody is talking about how this borrowed money will ever get repaid.
The national debt is now approaching 30 trillion. The annual GDP is about 20 trillion, in round numbers. How the heck do we ever pay down the national debt? Does anyone in power realize, that interest on all this borrowed money will continue to increase as the years go by, and consume ever larger amounts of the taxes we all pay? Anyone recognize this is a problem?
And this is just the official debt. There are tens of trillions of off the books debt, such as the future amounts to be spent on Social Security and Medicare.
Sorry I asked a few stupid questions. But one more. Whatever happened to the national debt ceiling? It apparently is just ignored nowadays.
Don’t worry about the debt, it’s not your country anymore.
Interest rates are close to zero; Europe has gone to negative interest rates, we may follow.
You are correct, the national debt is never going to be paid, most likely not even reduced. And yes the debt ceiling is ignored. When President Reagan left office in 1988, the national debt was about 2.5 trillion dollars.
With endless spending, open borders, and permanent vote fraud, the US is just going to disappear like a hole in the ocean and our money will be worthless. How to survive this is a question for the ages.
“Can I ask a stupid question? Nobody is talking about how this borrowed money will ever get repaid.”
No one knows because the science of economics hasn’t advanced that far.
They-the demoncRATS, figure that the Chicoms will support us forever.
They simply CAN NOT AFFORD to increase the interest rates to curb inflation. Because, like you said, the payment for those interest rates alone will swallow up the whole budget.
So, inflation is the answer. To hell with those of us down here. We can haul our donkey carts full of cash to the store to buy bread.
You will all note to price of gas at the pumps now. Diesel fuel. You will also note that NOT ONE of the MSM is reporting on that fact.
Plenty more where that came from.
The “good” news, if you can call it that, is that none of those future payments are actually a “debt” owed to anyone. Congress explicitly reserved itself the right to “alter, amend, or repeal any provision of” the Social Security Act. 42 USC 1304. The Supreme Court held that there is no contractual right to social security payments. Flemming v. Nestor, 363 U.S. 693 (1960).
Congress can amend or repeal the Social Security Act at any time and end all future payments at any time simply by passing a law. And if they did, no one would be able to sue to recover future payments they are “owed.” A “debt” you can discharge at will without payment is no debt at all.
Not reported on because orangemanbad isn’t president anymore.
Continuing Obama’s (Soros’) fundamental transformation of America.
One wonders: Will Obama become the next Director General of the UN?
lot of work going into to making the USA an ex-republic and the first oligarghical dictatorship in North America.
I dont know about anyone else but I am not going to rest until I get at least $50,000 in cash paid to me every month for life. Anything less than that is racists or something.
who exactly is gonna make the USG pay ANY of that back.?!
seriously
If you’re serious about gettin g”paid back” you’re gonna get a drone or two’s dose of “FREEDOM” down your chimney.
The plan to hijack our 401ks and IRAs has been written for some time.
A huuuuuuuge, juicy peach they will squeeze into the fed coffers in exchange tor some very low interest, ‘safe’ plan to replace our S.S.
Any bets?
This isn’t borrowed money.
It’s created money.
Modern Monetary Theory.
The Fed just creates it out of digital thin air.
(this won’t end well)
They don’t need to take anybody’s money directly.
They now create money via MMT.
Inflation will take away value, similar to what you see in 3rd world countries.
Deficit is a word that nobody in DC ever mentions any more.
Most governments end up as an oligarchy eventually. We’ve had a 245 year run. Patriots got lulled by ease and plenty the last five decades.
A good 10 minute video on what usually happens with governments:
https://www.youtube.com/watch?v=jJEuZrvNYg0
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