It may be since Mike Johnson has taken over as Speaker of the House, but it was the case before him with Kevin McCarthy.
The new Speaker of the House has just done exactly what Kevin McCarthy was going to do - kick the ball down the road.
While that is true, it's because Kevin McCarthy didn't do his job. When Mike Johnson took over he was out of time, either leaving him with the choice of shutting down the government, or supplying a CR. But if he doesn't demand the House to start doing their job, the next CR will be squarely upon his shoulders.
BTW, we are in complete agreeance about the state of our economy, but try convincing the stupid cheerleaders who support the conflict in Ukraine of that & you will receive blank stares.
When I said: That's true until the federal government sends them money to assist them, but it is still negatively impacting the taxpayers of this nation, I was speaking in historical terms.
The truth is that if it were just the 33 trillion in debt that hangs over this nation, we might have found a way to overcome that & paid it off. But the reality is that the unfunded liabilities of over 200 trillion dollars is a ticking timebomb that cannot be stopped.
Had we not replaced Kevin McCarthy when we did, Kevin was prepared to provide the 100 billion to Biden, and possibly more.
Part of that 100 billion would have gone to bailing out the blue states with sanctuary statuses, guaranteed. But does that mean the states may still not receive the aid it seeks? The Pentagon has miraculously found money if didn't know it had, will they find more? They can't pass an audit, but they seem to have a mysterious ability to find money, which is another reason I worded my statement to include the word until. 😋
The cost of providing these illegal invaders with the substance needed to survive is costing this nation an additional half a trillion dollars a year. In addition, the servicing of the interest on the debt is costing us another trillion dollars per year.
Believe me, I understand fully what is happening to this nation financially Sadly, there are many here who think we can just keeping the printing presses humming, and all is good. If that were the reality every country would do it. But the reality is fiat money printed with little regard ends up becoming the equivalent of toilet paper eventually.
In addition to those woes, the BRICS are threatening with dethroning the dollar as the world's currency. When, not if, that happens the people of this nation will suffer like no one in the country has ever suffered before. <.P This problem was created by the criminal factions that have been in positions of power for many decades now and include people from both sides of the political aisle who have been fleecing the American public of their hard-earned money.
Anyway, I am getting too verbose as usual. 😋
No, no! In my view you are well in possession of reality. {Reality has become a rare commodity lately. I almost threw up when Chuck Schumer accused Tucker Carlson of propagating lies with his airing of Jan 06 tapes... IOW, don't believe your lying eyes, believe that I have the truth. Disgusting!}
***The truth is that if it were just the 33 trillion in debt that hangs over this nation, we might have found a way to overcome that & paid it off. But the reality is that the unfunded liabilities of over 200 trillion dollars is a ticking time bomb that cannot be stopped***
PLUS this from the referred to article:
“The U.S. Now Has:I like the quote from the article: Janet Yellen, former head of the FED and now Secretary of the Treasury, will go down as one of the greatest boneheads in financial history ... she failed to refinance hardly any of the US accumulated deficits when rates hovered above zero. I assured my son that Yellin is an intellectual cretin, not a financial wizard.1. Record $17.29 trillion in household debt
2. Record $12.14 trillion in mortgages
3. Record $1.60 trillion in auto loans
4. Record $1.08 trillion in credit card debt
***the servicing of the interest on the debt is costing us another trillion dollars per year***
And Janet Yellin has set the trap now that we either raise interest rates to control inflation and default on the debt, or we borrow to pay the debt and default on entitlement payments... a crisis failure either way we look at it.
I was posting on FR for years that the collateral on the debt is your salary, your car, your house, your children, your retirement... etc. Already we have heard how the govt can seize IRAs and 401Ks to help keep Social Security afloat.
***the reality is fiat money printed with little regard ends up becoming the equivalent of toilet paper eventually***
We could have learned that lesson from Argentina some time ago and Venezuela recently. That is why educators no longer teach history and civics. When I used to post about the collateral on the debt, one of these ultra smart elitist would contradict me and say that the debt is no problem, we just owe the money to ourselves. I would respond, OK then who are we paying the interest to? ...no answer, ever.
***BRICS***
Notice how BRICS is never mentioned in the media or by the carpetbaggers. BRICS is likely the trigger to topple U.S. dominance. Once we lose the reserve currency status, what is left to support the dollar, which is only paper? What will people do when a loaf of bread is $30, gas $32 a gallon, milk $40 a gallon?
The only problem with that scenario is that the world economy is fueled by the status of the dollar. China, already facing economic storms, would be left destitute. The whole Chinese economy relies on raiding the American economy ruthlessly. {Right, Joe Bitem?}
They know that.