Here’s the bottom line — our current budget deficit of over a trillion dollars a year came as a result of making the crisis and stimulus spending we made in 2008 the BASELINE for current spending.
That yearly one trillion dollar deficit is the MAIN REASON why we have to continue borrowing money we don’t have.
Has anybody ever asked this question — HOW WERE WE ABLE TO PAY OUR DEBTS BEFORE 2008-2012 AT THE SAME TIME DEFEND THE COUNTRY, AND PAY FOR SOCIAL SECURITY, MEDICARE AND MEDICAID?
Simple, WE DID NOT SPEND AS MUCH MONEY AS WE ARE DOING NOW.
SOLUTION: GO BACK TO THE 2008 BUDGET and USE THAT AS THE BASELINE FOR ANY ENSUING BUDGET.
We have MORE THAN ENOUGH revenue to service our debts.
And we did it without a budget authorizing spending for the last three years....
Deem it so #1
We weren’t able to do it back then, either. The last time we had a balanced budget and no debt was when freakin’ Old Hickory was president. We are worse off for spending more now, but pre-2008 wasn’t the Golden Age. We were doomed then, too. It’s just that there’s less time before our souls come due now.
We weren't. Not even close.