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2018: Donald J. Bush put pen to rotten paper
[Then he “promised“ he would never do it again. Until the very next year…]
President Trump’s FY 2020 budget proposes we spend vastly more money for 15 years than we take in, and lead us to spending more in interest payments than we do on Social Security or defense.
The National Debt:
At the end of 2009, the total federal debt was $12.3 trillion—a staggering amount of money. Now, it stands at an astonishing $23.1 trillion.
That’s roughly $180,500 of debt for every U.S. household.
“Consumers will largely bear the brunt of the country’s financial ruin… While the United States’ official debt is $2 trillion [the article was published in 2018], the fiscal gap is really 10 times larger — $2 trillion. That comes from adding in off-the-book liabilities, including debt that’s in the Federal Reserve’s hands… It’s not like the rest of the fiscal operation can bail out Social Security… So when you look at these numbers, you realize we’re Argentina in 1910… In one century, Argentina went from super rich to super poor… ”
—Laurence Kotlikoff, Ph.D. (Economics, Harvard, U.)
Debt Dwarfs China as Top National Security Threat
Every child born in the U.S. in 2018 already owed well over $48,000 worth of federal debt.
Unless radical cuts in federal spending are imposed by congress, when every one of those children reaches the age of 30 they will owe over $141,000 worth of the same federal debt.
December 2018: Federal Debt Up $1.37 *Trillion* Since December 2017
That was a $10,743 *increase* per household and $4,178.10 per person
In just one year
The total federal debt per U.S. household is now over $171,364.
The total federal debt per U.S. citizen is now over $66,641.
Public Debt for Every American
U.S. Budget vs. Family Budgets
If a median-income American family spent money like the U.S. government, it would have spent all of its earnings, and then put $10,000 on the credit card in 2017 even though it was already $328,000 in debt.
If We Don’t Cut Debt And Spending, The U.S. Is Poised For Another Financial Crisis
The High Cost of Refusing to Confront the Exploding National Debt
The Congressional Budget Office has been ringing the alarm bells loudly and clearly for several years.
CBO Director: Debt to Soar Past Postwar Levels at Current Trajectory
U.S. on a Course to Spend More on Debt Than Defense
Even Barack Obama’s Chairman of the Joint Chiefs of Staff, way back in2011, said:
“I believe the single, biggest threat to our national security is debt.”
US has largest debt in world history, dollar to lose status as No.1 currency
Foreign Investors Lose Some Hunger for U.S. Debt
[Hmm… that could be dangerous. ASND wonders why that is happening.]
[Actually, no, we don’t.]
U.S. Government set to borrow nearly $1 trillion this year , an 84% jump from just last year.
Alarm bells are ringing on the federal debt
It’s the Debt, Donald, the Debt
U.S. government borrowing ‘$2 million every minute, every day’
How Fast US Public Debt Will Grow If We Don’t Change Course
Trump Admin. promises to do nothing about the national debt
Liberal Celebrities Applaud Trump, Brand Karen Pence ‘Ally’ After Arts Funding Increase
A GOP House, a GOP Senate, and a GOP President cannot cut a penny in spending
Once again, we are witnessing higher tax revenues chasing much higher spending.
Financial crash warning: 10 years on from 2007 crisis experts warn debt bubble could burst
Our National Debt And Government Spending Are A Moral Abomination
Confirmed: 2018 Spending Bill Includes $30 Million For Paying Off Trump Mistresses