Director of National Intelligence Dan Coats warned the Senate Intelligence Committee on Tuesday about the risk posed by the national debt.
“This situation is unsustainable, as I think we all know, and represents a dire threat to our economic and national security,” he said. He echoed an Obama-era warning by then-Chair of the Joint Chiefs of Staff Admiral Michael Mullen, who called the debt “most significant threat to our national security” in 2010.
White House Office of Management and Budget Director Nick Mulvaney admitted Monday, under questioning from Breitbart News’ Michelle Moons, that President Donald Trump’s new budget proposal does not balance the budget within ten years.
The best Mulvaney could offer is the prediction that the budget deficit would decline as a percentage of Gross Domestic Product (GDP) several years from now as a result of faster economic growth.
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It's very simple. We need a balanced budget amendment. Will that ever happen? We'll see. I am not holding my breath.
ReplyDeleteThere is no economic growth.
ReplyDeleteThe economy is managed by the Central Banks.
The illusion of growth is created by inflation.
Through monetary expansion (debt creation) the banks enslave everyone including governments.
Soon in the US the interest on the National Debt will consume all of the income taxes paid by the people. The only way for the government to function is by "borrowing" what the Fed creates out of thin air.
They whine like kids about the deficit.
ReplyDeleteThen, vote to spend another 5 trillion.
Have I mentioned "hanging"?
These snakes will not stop until they stop breathing.