How Hillary's Big Ideas Will Bankrupt The Nation

[SirLinksALot]

SOURCE: INVESTORS BUSINESS DAILY

URL: http://www.investors.com/politics/editorials/how-hillarys-big-ideas-will-bankrupt-the-nation/


Amid all the depressing name-calling, mud slinging and character assassination in this election season, there are, believe it or not, serious issues. One of them is the vast expansion of government spending and taxes that a Hillary Clinton presidency would usher in.

Clinton has left the campaign trail littered with her ideas for bigger government and has proposed major increases in taxes to pay for it in part. A new report from the center-right American Action Forum says that 13 major new spending proposals from Clinton would "have a dramatic effect on the federal budget."

How dramatic? The AAF says that Clinton's various plans would boost taxes by $1.3 trillion over the next decade, but it would grow spending by an even larger $3.5 trillion. That's an added $2.2 trillion in deficits for the next 10 years. As for public debt -- that is, only the money that the government owes the public -- it would nearly double, says the report, from $13.968 trillion today to $25.825 trillion in 2026.

We know, we know. Such recitations of numbers can have a numbing effect. You can only predict fiscal disaster for so long, and then people start to tune you out. But the threat is real -- and the numbers are alarming.

The list of new spending ideas from Clinton is truly breathtaking, but in a bad way. For instance, she wants to spend $1.6 trillion on guaranteeing up to 12 weeks of paid family leave, $347 billion on child care, and $107 billion on "debt-free college." Then there's $66 billion for universal preschool, even though study after study shows the benefits of preschool to be negligible. But hey, it takes a village, and to say no to such feel-good projects makes you a big meanie.

The fiscal impact of all this spending will be ruinous. Under current law, the federal debt held by the public is expected to reach 85.6% -- an already high level of debt that well exceeds the 70% or so that economists believe marks a troubling level for any nation. Under Clinton's plans, however, federal debt soars to 93.5% of GDP, a potential disaster. Moreover, the resulting deficits will reach 5.7% of GDP, up from 2.5% just last year.

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[Fishrrman]

Title:
"How Hillary's Big Ideas Will Bankrupt The Nation"

o'er-the-hillary's "big ideas" won't really do a whole lot more damage. They'll be a few more cupfuls in a bucket that's overflowin'.

The nation is already nearly bankrupt.

...And will remain so, regardless of who gets elected president in the next several election cycles, and will remain so regardless of which party controls Congress for decades to come.

The question no longer is, "is the nation bankrupt or on the edge of bankruptcy?".
Rather, it's "how far down the sliding slope of bankruptcy and indebtedness can we tumble before the actual 'crash' occurs?"

And THAT question won't be answered UNTIL "the crash" occurs.

2008 was nuthin', just a blip.

Ahead, somewhere, perhaps decades off, lies THE REAL crash...