Posted on 02/23/2018 10:03:09 AM PST by huldah1776
The largest financial institution in the world – the U.S. government – issued its financial statement just a few days ago, and nobody in Washington seems to care that the deficit is almost twice as large as they once thought.
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In substance-free Washington, the release of the annual financial statements of the U.S. government isn’t a big deal, but it should be. The statements demonstrate that we have gone backward, not forward, with Republicans in charge of all branches of government. According to the annual financial report of the U.S. government published by the Treasury Department, the real deficit for fiscal year 2017 was $1.2 trillion, almost double the official estimate of $666 billion.
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Overall, the budget deficit grew by $78.3 billion and the net operating cost grew by $105 billion in fiscal year 2017 as compared to fiscal year 2016. This means that 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. It’s the untold story of the first year in office you won’t hear from all those at CPAC, including Vice President Pence, fawning over the vibrancy of the conservative movement.
The worst element of our budget is health care. It accounts for 24 percent of our costs, dwarfing even the cost of the military and surpassing the cost of Social Security.
(Excerpt) Read more at conservativereview.com ...
The deficit is the President's and the Congress' problem. The Fed will be concerned with inflation and the economy overheating. It will raise interest rates as they deem necessary to keep that from happening.
Wow. I need to save your reply because that has often happened in Old Testament battles and I believe will happen at Armageddon.
LOL so sad because so TRUE, except the Marxists need them for indoctrination.
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?
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