Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Mr. K; deplorableindc

He is making same mistake Reagan made by signing bills which Speaker O’Neill pushed with excessive spending.

Yes, the president can’t stop anything single handedly, but he/she can veto spending bills, and let the congress critters over-ride them. At least then the intelligent voters will see who is responsible for the ugly and unaffordable national debt being passed on to your children and grand children. Where are the vetoes, Mr President?

The interest paid on national debt will soon be larger than the military budget. Debt is not pain-free. Ask my mother-in-law who had to declare bankruptcy due to excessive credit card debt.


61 posted on 04/29/2019 1:41:07 PM PDT by entropy12 (Learn all you can from the mistakes of others. You won't have time to make them all yourself.)
[ Post Reply | Private Reply | To 56 | View Replies ]


To: entropy12; Mr. K; deplorableindc; Moonman62

“The interest paid on national debt will soon be larger than the military budget.”

Using the OMBs numbers for FY 2019, defense spending is 15% of the budget and interest on the debt is 7%.

https://www.cbpp.org/research/federal-budget/policy-basics-where-do-our-federal-tax-dollars-go

Budget numbers will be different than actual tax receipt numbers, since the budget includes deficit spending.

It looks to me like for FY 2018 interest on the national debt consumed around 9.75% of tax receipts.


88 posted on 04/30/2019 8:49:31 PM PDT by Pelham (Secure Voter ID. Mexico has it, because unlike us they take voting seriously)
[ Post Reply | Private Reply | To 61 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson