Search This Blog

Tuesday, March 28, 2017

Trump Picking Up Obama's Financial Watermelon

In the very near future if he hasn't been working on it already, Trump is going to need to put a budget proposal forward which Congress, between its establishment Republican saboteurs and Democrat obstructionists, will have to find some common ground in fiscal incompetence

And in the very-very near future, they're also going to have to agree to raise the debt ceiling which the date to do so has technically has already came and gone
Last time it was raised back in 2015,the lil' brown Cocoa Krispie poop monkey President at the time took a couple moments off from endless golf-playing to sign a deal with Congress where the debt ceiling was to be suspended until after the 2016 election so as to not harm Hillary's expected anointment

From when the 2015 'Bipartisan Budget Act' was signed to present, the National Debt as risen $1.4 trillion

That is specifically $1,417,397,000,000 in less than 17 months
Who knows, maybe we're making mountains out of molehills..

After all those who believed strongly in fiscal belt tightening screamed at the moon that this debt was unsustainable back when Reagan crossed the $1 Trillion threshold for first time ever while building up our nuclear arsenal

Same people tried to warn us of impeding doom when it hit $2 Trillion, then $5 Trillion then $10T then $15T and no one's yet tried to call in the loans

Of course most debt is held by the Federal Reserve so its not in their interests to call it in and not in the US government's interest to strategically default

So who knows.. Maybe a $25T or $50T debt ceiling is no big deal
We are the reserve currency to the world after all..

Nations like Greece or Argentina or Venezuela can't keep printing endless money without the currency becoming worthless, hyperinflation occurring and the citizens feel the pain when the nations can't repay debts or secure new loans to allow for can-kicking

But we keep printing and creating digital money and all's good

Much ado about nothing, as some famous literary playwright wrote.
But let's pretend in fantasy-land that it does matter, that accumulating endless debt is actually a bad thing and annual budget deficits is unsustainable..

So what gets cut in the budget?

We know that if President Trump is successful, corporate taxes will be dramatically cut and only as a carrot to everyday folk sick and tired of seeing big business always win, the middle class will get a moderate cut as well

We also know Trump has promised to increase defense spending because of the ideology (right or wrong) of peace through strength and that means a military buildup
So let's just stop a moment and see where we are just based on those two sentences..

Our annual budget deficit is currently $571 billion (how much more we spend vs take in), the revenue which the government needs to pay its bills will be slashed further by corporate & citizen tax cuts and spending in defense dramatically increased

OK.. let's continue..
What many people call 'entitlements', a word we hate because it has a negative connotation (it should really be called 'deserve-ments' since those who receive the benefits are really just getting back the money they put many years paying into the system) will continue to rise with 24% of last year's budget ($888 billion) going to Social Security alone..

Trump says he will not touch it (good for him) and assuming he's 100% sincere in that promise, what gets cut from the budget?

Oh by the way, about 7% of the budget annually goes to paying the Interest on the National Debt..

Not the debt itself mind you.. Just interest..
So as we said, what gets cut?

Now they can probably trim a couple million here and a couple million there but in real world terms that's like an everyday person in massive debt deciding they're only going to Starbucks 4 workday mornings a week instead of 5 and choosing to buy generic potato chips instead of brand name

The bigger question than what is to get cut is how does this society of entitled, emotionally retarded adult-children, especially liberal snowflake Millennials handle things when something is actually slashed from the budget for the ultimate long-term good of the nation?
You saw how these absolute pathetic liberal Losers handled an election loss..

Imagine if someone actually made them face the true reality of our economic situation?

Maybe they wouldn't have as much time to color in their coloring books and hate being Caucasian

But no worries.. all is well..
 $20 Trillion and everything flowing swimmingly

Wasn't that Oreo cookie just the greatest..

Doubled the National debt in 8 years, pushed back the debt ceiling vote til' after he was gone so the next person in office dealt with the political fallout and fiscal pain and so many ignorant liberal fucks just love him to death for it..
Ehh..  so what's another few Trillion in raised debt ceiling among friends?

There's one universal lesson when it comes to accumulating debt..

When you have little to no money to your name, and absolutely no ability to pay back creditors, what does it really matter how much debt you accumulate and how much you spend if others allow you to continue getting credit?

Think of it as a life lesson for those fretting about their personal debt and thinking about filing for Chapter 7 personal bankruptcy

After all it is playbook for how the US government deals with things.