Posted on 01/25/2022 4:53:40 AM PST by Kaslin
When I came to Washington, D.C., in 1985, Ronald Reagan was president. I was working for the Reagan budget office. We did something we weren't very proud of at the time. We introduced the first $1 trillion budget in American history, which was unthinkable. One trillion dollars. There are 12 zeroes in a trillion. A trillion is a million dollars times a million. The budget deficit hit $200 billion and 6% of our entire GDP. Again, unthinkable.
Now, fast forward 37 years later. The budget today is nowhere close to $1 trillion. In 2021, President Joe Biden's first year in office, the federal spending came in at just under $7 trillion ($6.81 trillion, to be exact). So, in less than four decades, the budget has grown sevenfold. Much faster than inflation. Much faster than the economy. The government is now gobbling up the economy, spending up to 30% of our national output. Add state and local spending, and we are close to 40%.
We have spent hundreds of billions of dollars on unemployment insurance programs with no quality controls, so more than $100 billion was doled out to fraudulent claims. Billions of dollars went to criminals living in Nigeria, South Africa and Mexico. That's some stimulus to the economy. The Wall Street Journal found that we spent tens of billions of dollars on the New York subway system even though ridership is down by two-thirds. We could practically be giving every rider a free limousine service, which would be cheaper for taxpayers. According to the Wall Street Journal, more money has gone to the New York subway system than all of the federal money for COVID-19 treatments.
We spent so much money on welfare programs that many families with two unemployed parents collecting all the government payouts could get $100,000 or more from taxpayers and not work a single hour.
We continue to provide billions of dollars a year to subsidize wind and solar power, which accounts for about 7% of our total energy production.
Much of the $100 billion for schools remains unaccounted for. No one seems to know where the money went, and nobody seems to care or wants to do anything about it.
The $6.8 trillion the government spent in 2021 was $2.4 trillion more than the government spent in 2019 before the pandemic started. The feds have spent close to $4 trillion in two years to contain COVID, which hasn't been contained. Gee, that's been money well-spent!
Could things with the virus be any worse if the government had spent nothing and there had been no shutdowns? This might be the most epic failure of big government in world history.
Yet Biden is saying with a straight face that the problem with the economy and inflation and runaway energy prices is that we didn't spend $5 trillion (SET ITAL) more (END ITAL) for his Build Back Better monstrosity. So, we have a House Budget Committee chairman, when asked about the wisdom of running $2 trillion deficits each year, saying: "We can spend and borrow whatever we want." No worries. They're spending money like it's M&Ms.
Even the New York Times admitted that Biden's spending schemes offer Americans "cradle to grave government." Is that what Americans want? Are we like Linus, the "Peanuts" cartoon character who carries his blanket like a security vest everywhere he goes?
Biden's solution to the budget and borrowing blowout is to tax, tax, tax. But in 2021, Americans paid $4 trillion in federal taxes. That was 18% of our GDP, which is above the recent historical average. There is not a revenue problem today in Washington but a pandemic of spending. In my new book, "Govzilla," I document the relentless historical growth of government in America. We were supposed to have limited government but now we have limitless government. In just his first year, the spending proposed under Biden exceeds what was spent on all the wars we have fought, the building of the intercontinental railroad, the interstate highway system and the moon landing.
The spending monster Govzilla is devouring our economy and our freedoms. At least Reagan tried to fight back against the tyranny of big government -- sometimes successfully, sometimes not. His warning when he ran for president in 1980 was as prescient now as it was then: "A government big enough to give you everything you want is big enough to take everything you have."
Meanwhile, Biden says that his trillions of dollars in spending "are free -- they will cost nothing." Actually, the costs are incalculable.
Only an idiot who doesn't use his brain would say that, or even just think that.
I’ve taught my kids (both recently graduated college) that the greatest threat to their financial security and wellbeing is the government.
In the book “The Bidens: Inside the First Family’s Fifty-Year Rise to Power” Hardcover by Ben Schreckinger, we learn Joe Biden is a package deal. The endless tight-knit Biden family—siblings, children, in-laws, and beyond, came right along with him........and details about the cozy “Delaware Way” of conducting politics.
Joe Bidung’s there for only one reason......to enrich the Biden Crime Family.
Keeping that in mind, all that untraceable spending makes perfect sense.
Bidung’s “Build Back Better” – is internationally known in offshore banking havens as “The Biden Crime Family Billionaire Enabling Bill.”
REALITY CHECK-—
Hunter Biden Had Tentacles In Dark Corners Of the World Far Beyond China, Ukraine
Bidung made some 43 SECRET visits to Delaware BEFORE taxpayers even knew about this tax gouge.
Notice that oddly, no Bidens that we know of... came to the WH b/c they’d be exposed.....listed on the WH visitors list.
Bidung had to do all the dirty work in Delaware......as the trillions mounted.
The Biden Crime Family staked out their interest and got the money laundering machines in place BEFORE BIDUNG UNVEILED IT.
The Biden Crime Family has a huge financial interest in climate change.
Everytime Bidung says “climate change,” several offshore banks open their deposit windows,
type in Biden and seven zeros, then wait for the Intl Money Transfers.
Holding back illegals data surely means the family is getting kickbacks from traffickers.........
no question crackhead Hunter Biden is wallowing in the drug avalanche at the border.
The Secret Service improperly redacted hundreds of pages of records related to Hunter Biden’s overseas travel — and apparently withheld information about trips to China, Russia and other countries, two leading Republican senators claim, reported the New York Post.
In a letter to Secret Service Director James Murray, Sens. Chuck Grassley (R-Iowa) and Ron Johnson (R-Wis.) alleged the agency “hid names and other information contained in email conversations regarding Hunter Biden without any proper legal justification.”
Judicial Watch
425 Third Street SW Suite 800
Washington, DC 20024
1-888-JW-Ethic (1-888-593-8442)
Email: info@judicialwatch.org
Also kept secret........
How many Biden Crime Family parasites were on these trips?
Making themselves rich on the backs of struggling taxpayers.
Let’s see those manifests.
Judicial Watch
425 Third Street SW Suite 800
Washington, DC 20024
1-888-JW-Ethic (1-888-593-8442)
Email: info@judicialwatch.org
Wrong.
"Devoured" - past tense.
There is no coming back from the current level of debt.
Probably only super-hyperinflation and collapse lie ahead.
The federal reserve note now has a negative value.
Either we somehow switch over to a new form of currency,
or I fear that during the collapse, millions of innocent
people may/will die.
Have a nice day.
“Only an idiot who doesn’t use his brain would say that, or even just think that.”
It isn’t just Biden. Republicans, when in the majority, gladly vote for the massive spending bills as long as there are provisions for their preferred donors. The balanced budget of the last Clinton years quickly evaporated under George W. Bush and the earmark happy pedophile House Speaker Dennis Hastert.
True. One of my disappointment in the Republican party is their failure to rein in government spending. It’s always easy to spend someone else’s money.
I agree. Our deficit was back at the $1 trillion mark even before the pandemic hit. Now it’s $29 trillion and counting. You don’t get to that point without a LOT of complicit Republicans.
I disagree, somewhat.
Unlike many others, I believe a one-time simple and complete abrogation of national debt -- that ~$30 trillion -- would fit the situation.
In times of rebellion and revolution, people lose. 1933's gold game was essentially a restructuring. The Fed should simply be abolished.
The wealthiest and many politicians would lose as would hedge funds and overseas entities, but abrogation of debt has been used hundreds of times through the 20th century by many different nations, and some have done it multiple times.
A John Galt would not build on debt.
Ronald Regan said something to the effect that the most terrifying words in the English language is “I am from the government, and I am here to help you.”
So what you are suggesting is a return to the gold standard?
I merely suggest abrogating the national debt, and abolishing the Fed.
In fact. my suggestion is much more akin to the classical jubilee.
The Fed was created in 1913 under Woodrow Wilson. The nation was founded in 1776. The United States has had other than the Fed for more years than it has had the Fed, a private company printing money.
About 136 years without a Fed. We near that period as time goes by with the Fed.
A look at inflation and especially a look at the massive increase in the public debt under Bush II, Obama, Trump and now Biden shows a graph going from 1 to 30 in 22 short years. Draw it for yourself, if you need to see the impact of that. How has this happened in these last 22 years?
Between an absolutely spendthrift and war making government under both parties, nation building and massive fraud of various kinds, the Fed has dutifully printed into existence a money supply without any underlying support. The dollar has sunk rapdily in value under the Fed as taxes have risen under both parties.
I simply say that this is not a sustainable policy. Something will replace it , because capitalism will destory and then replace. Perhaps a new fiat currency, or perhaps a new currency upported by something underlying it.
But first the massive debt needs addressing. Collapse or abrogation, since we both likely agree that this $30 trillion will never be paid off. Thus what will be passed on to the next generations is a huge problem. Better to deal with the problem today, than tomorrow.
Will that happen? I have zero confidence that the government will have any foresight to do this. So I expect collapse. I advise abrogation.
We have a real world model for collapse in the short end of the USSR. It and the satellite nations collapsed. In short order, after the “public” debt created by the Soviets was washed away, and everything reformatted.Today there is a ruble. It, as a name for the currency, has been used for centuries. One is not another, is not another.
That will be our fate, unless the fiscal policy of the US is not restructured. My proposal is to restructure by abrogation. Then whatever follows will be unburdened, and our next generations will not carry today's burden with them.
The fattest of the fat cats around this world HATE such a notion, because they would rather ride the horse into the ground completely before the dismount.
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