There has been a tremendous amount of talk about the spending deal that was just reached in Congress
There has been a tremendous amount of talk about the spending deal that was just reached in Congress.
Most of the focus has been on who “won” and who “lost” politically, and if you have been keeping up with my articles you definitely know my opinion on the matter. But what nobody is really talking about is that this deal actually increases spending at a time when our debt has been absolutely exploding. We added more than a trillion dollars a year to the U.S. national debt during Obama’s eight years in the White House, and our debt binge actually accelerated toward the end of his second term. In fact, the national debt increased by more than 1.4 trillion dollars during fiscal 2016…
In fiscal 2016, which ended on Friday, the federal debt increased $1,422,827,047,452.46, according to data released today by the U.S. Treasury.
At the close of business on Sept. 30, 2015, the last day of fiscal 2015, the federal debt was $18,150,617,666,484.33, according to the Treasury. By the close of business on Sept. 30, 2016, the last day of fiscal 2016, it had climbed to $19,573,444,713,936.79.
Since we are already in so much debt, we might as well shoot for the moon, right?
This new spending deal increases spending in a whole bunch of different ways, but it doesn’t do anything to raise more revenue.
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4 comments:
Of Course NOT !!
They hold out their hands to YOU for more
Plus they just Print More money 24/7
It can be Paid Off Tomorrow ....they have MORE than enough
And we're worried about a government shut down? Sounds like that is just what this country needs. Let's lay off congress!
The checks never bounce so why would they think the money is gone?
You can bet that $20T will be dealt with but first we need to right this ship and turn this economy around. 1.6 GDP over the last eight years sucks the big one and that's the reason we've been majorly deficit spending. For the love of God, people go get a real education in economics! Or better yet, use common sense. This is what happens when you have an entitlement nation. Like Margaret Thatcher said, "The problem with Socialism is, eventually, you run out of other people's money."
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