Posted on 09/26/2022 6:33:36 PM PDT by anthropocene_x
The United States is hemorrhaging debt. The principal cause of consumer price inflation running above 8% on an annual basis is too much federal government spending. Before the pandemic, federal debt held by the public was already on an unsustainable trajectory. It is largely caused by overly generous entitlements and a shrinking working population to pay for benefits for an increasing number of elderly citizens.
In his March State of the Union address, Biden claimed he would be "the only president ever to cut the deficit by more than $1 trillion in a single year." That's laugh-out-loud material. In reality, the policies that reduced the deficit were set in stone; Biden did nothing positive in that regard. Moreover, what Biden won't acknowledge is that his free-spending policies will contribute importantly to ever-increasing deficits. The CBO projects that federal deficits over the period 2022-2052 will average 7.3% of GDP. That's double the average of the past 50 years. The CBO explains that interest payments on the federal deficit are the most significant factor in out-of-control spending.
(Excerpt) Read more at washingtonexaminer.com ...
Yeah, it’s going to be like Iran.
The difference is, the Iranian ppl aren’t armed.
“Now?” The last time we even technically ran a surplus was under Slick in his last year.
NOW?!
How about "still"....and "irreparably"?
No tickers under the headlines about the deficit or overall debt anymore. 32 TRILLION national debt and 150 TRILLION in unfunded government mandates. The end is near folks.
Do you think McCarthy’s mimic of the Contract with America will stick in 2023? I think it’s awfully vague and they could have done a lot against Obama care piecemeal as well.
Very vague.
No solutions, just slogans.
McCarthy is passive aggressive useless.
McConnell is protecting his China interests, NOT ours.
What a depressing thread … true … but very depressing… Lord help us
No. 1) Too late; 2) Still not discussing a couple of HUGE issues, esp. election integrity so it won’t jazz up the base; 3) right now there are about 5 big issues Americans are concerned about: in 1994, the one policy issue was a “balanced budget,” but the real thing that infuriated people was the “House Bank” scandal. We don’t have that now.
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