How long before interest payments are as much as yearly tax receipts?
We have a Federal Reserve that can print paper money, manipulate interest rates and even monetize debt as needed. And so far, the world must still take our US Dollar.
Under those conditions, why should the American public or any politician, bother to show any restraint or sacrifice on any of our wonderful progressive social-engineering schemes?
I’m sure Democrats and Republicans alike will insist on cutting spending to fix this problem.
Far more simple than that, just close all public schools nothing important is really being taught there any way.
National debt = Neutron bomb on route to our country in a NK rocket. Everything seems fine, until it hits.
In Obama’s first year the deficit was attributed to Bush. Now in Trump’s first year it belongs to the sitting president. What gives?
“the deficit grew by 13.3 percent when Republicans controlled all of government as compared to Obama’s final year. And this is with the economy humming.”
Anyone who thinks most Repuke officials are for smaller government are in denial. There are a number of small government Rs, particularly in the House, but they are a minority of the Republican Senate and House delegations. And heaven forbid if we have “infrastructure” and other “stimulus” programs.
What happens to all of those who are owed all of this tremendous amount of money? How do they keep going? How are people given their pay checks? How are companies paid for products put out?