The Briefing Room
General Category => Politics/Government => Topic started by: HikerGuy83 on April 22, 2024, 04:45:08 am
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Public Debt:
We need to balance our budget. We are not even close.
We are headed for disaster:
https://budget.house.gov/imo/media/doc/cbo_outlook_shows_share_of_debt_is_projected_to_grow_to_1_million_per_american_household.pdf
In 2053 our debt is projected to be 144 trillion.
WTH ?????
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Unfortunately, neither Presidential candidate is known for being fiscally responsible.
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Public Debt:
We need to balance our budget. We are not even close.
We are headed for disaster:
https://budget.house.gov/imo/media/doc/cbo_outlook_shows_share_of_debt_is_projected_to_grow_to_1_million_per_american_household.pdf
In 2053 our debt is projected to be 144 trillion.
WTH ?????
happy77 You are now just noticing????
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Unfortunately, neither Presidential candidate is known for being fiscally responsible.
A major problem that we all are going to bear the consequences of
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I can understand somewhat more spending due to the pandemic; providing PPE's and setting up emergency makeshift hospitals, but Bidenomics has contributed significantly to what we are now experiencing. Inflation is on Brandon!
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happy77 You are now just noticing????
I think you'll find I've been saying it for years.
I guess I could ask the same question of you.
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I can understand somewhat more spending due to the pandemic; providing PPE's and setting up emergency makeshift hospitals, but Bidenomics has contributed significantly to what we are now experiencing. Inflation is on Brandon!
Our debt to gdp ratio was already over 100% before the pandemic
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I think you'll find I've been saying it for years.
I guess I could ask the same question of you.
Nope. I've been complaining about my wallet shrinking, higher gas prices, taxes, utilities, grocery prices since Brandon took office.
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GWB started it with his need to get us into war.
A republican congress was all to willing to spend like crazy.
The GOP at the federal level is as much a mess as the democrats.
We are not having this conversation because it puts Trump in a bad light. He's a deficit guy too.
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I think you'll find I've been saying it for years.
I guess I could ask the same question of you.
Many of us have been saying this for years. But it falls on deaf ears
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Nope. I've been complaining about my wallet shrinking, higher gas prices, taxes, utilities, grocery prices since Brandon took office.
You are about 16 years behind.
Bush was handed a pretty good situation thanks to Gingrich and Co. He screwed it all up and didn't blink.
I will never forgive that moron for starting us down this road.
Many of us complained back then and received a lot of pushback.
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You are about 16 years behind.
Bush was handed a pretty good situation thanks to Gingrich and Co. He screwed it all up and didn't blink.
I will never forgive that moron for starting us down this road.
Many of us complained back then and received a lot of pushback.
And after the Great Recession, it’s accelerated. GWB, Obama, Trump, and now Biden headed us down an unsustainable path and it looks like that path continues after this election
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GWB started it with his need to get us into war.
A republican congress was all to willing to spend like crazy.
The GOP at the federal level is as much a mess as the democrats.
We are not having this conversation because it puts Trump in a bad light. He's a deficit guy too.
??? I am not a Trump supporter by any means.
I do know that under Trump he had us energy independent and we personally were spending well within our budget. Brandon, we are struggling like most.
Yes, 9-11 was another spending spree -- but it was spent after OUR country was attacked and in the same light Ukraine is costing us dearly protecting a country that isn't ours.
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And after the Great Recession, it’s accelerated. GWB, Obama, Trump, and now Biden headed us down an unsustainable path and it looks like that path continues after this election
Unfortunately you are correct -- I don't see us heading towards a balanced budget anytime soon.
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Public Debt:
We need to balance our budget. We are not even close.
We are headed for disaster:
https://budget.house.gov/imo/media/doc/cbo_outlook_shows_share_of_debt_is_projected_to_grow_to_1_million_per_american_household.pdf
In 2053 our debt is projected to be 144 trillion.
WTH ?????
We will never make it any way near $144T. Our interest costs are about $1.2T which is about a quarter of our receipts, and it's been going near vertical since about 2020.
At this pace we got maybe 5 years before our revenues are completely absorbed by interest payments, and nobody is going to loan us any more moeny.