Posted on 03/11/2024 10:09:44 AM PDT by CFW
President Joe Biden on Monday released a $7.3 trillion budget proposal, which sparked swift opposition from congressional Republicans.
The proposed $7.3 trillion budget is for fiscal year 2025, which will run from October 2024 through September 2025. It contains many of Biden's 2024 campaign promises, such as tax credits and increased taxes on the wealthy, per Axios.
(Excerpt) Read more at justthenews.com ...
Just add a couple more $Trillion to the gigantic debt. What could go wrong?
Of course it will last. It HAS to last. G . . . government spending . . . is an increasingly powerful parameter in the GDP equation of GDP = C(onsumption) + I(nvestment) + G + (Exports - Imports). GDP is about 25T. G at 7T is almost 1/3 of it.
You can’t cut spending without cutting GDP. That’s just math and it is inescapable.
It’s too late. It all went too far. There is no solution.
One major plank of the Republican Party used to be "smaller government".
As long as the American people don’t have a direct say on budget proposal and on spending, Biden and congress will be able to spend wildly. It’s just OPM, and it just adds to the deficit and debt. Nobody cares, as long as they don’t get billed directly to pay for that debt and deficit.
They’re pushing for a collapse. And Nuclear war. And big time social unrest. etc., etc., etc.
$7.3 Trillion is peanuts. If the guy really wants to go down in history he should make sure he’s the first president ever to propose a budget in excess of a Quadrillion dollars.
Johnson should announce that this travesty is DOA in The House.
L
There is always a debt jubilee, an Old Testament solution to a modern financial crisis. All debt public and private is forgiven.
If America as a nation goes into default it will have to forgive all private debts.
NO1 No! No!
This is utter insanity! Over seven trillion dollars? Insane!
It’s well past time to get FedGov back within the confines of the Constitution, and eliminate half of the bureaucracy or more.
We cannot continue to be the cashier window for the world. Other nations need to step up...bigly!
We basically got the debt jubilee once Nixon and crew took us off the gold standard. Its been all downhill since then.
Individuals have to live within their incomes basically, and whatever credit card debt they can afford.
Governments can tax and spend wildly beyond their limits.
What happens when governments decide to directly confiscate people’s savings, retirement plans and housing to fund themselves?
You must know that is their end game.
This is nuts. Covid spending is now ingrained in the baseline
The fruits of a completely printed, fiat, central-planner managed monetary system.
What will force them to change? Almost nothing, save a historical political revolution.
Just look how long Argentinians lived with rampant inflation and massive money-printing, all feeding woke, socialist government and corrupt social-engineering schemes.
For reference, the entire GDP is 25 Trillion.
So Biden budget is 28% of GDP.
Nixon declaring Bretton Woods dead (along with the US Gold Standard) was not a "jubilee." Rather, it launched a massive meth-fueled debt and inflation orgy.
But, but, but…he cut the deficit by $1T….didn’t he?
Doesn’t work. There can be no default while a Central Bank can create money from nothingness.
The Soviet Union would still exist if their central bank had been empowered to create money beyond the Interior ministry’s five year plan. They made the mistake of thinking money had to be rational. They didn’t realize it was a substance from nothingness and could be created on a whim. But Bernanke has now let that cat out of the bag.
Jubilee will never happen, for the same reason.
Anyone making over $400k per year is apparently a “billionaire” now.
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