Tuesday, March 28, 2017
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
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
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
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.
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
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..
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..
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?
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..
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..
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.
Posted by Susquehanna at Tuesday, March 28, 2017