In case anyone is still unaware, government debt is out-of-control.
It doubled under President Obama, and it is anticipated to increase for 50 percent in the next ten years.
It’s not just the repayment of debt that presents a potential crisis; it’s the interest payments. With a clear correlation between government debt and diminished growth, a natural first step would be for the government to ease its deficit spending on programs such Medicaid, Social Security, and Medicare to decrease the waste inherent in some of these programs.
Interest rates are expected to rise to $1 trillion during the next decade. That is more than the US spends each year on Medicaid and its military. It will cost $55,000 per household over the next ten years just to service debt.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
I'm still amazed how government thinks they can just take something from citizens they've paid their money into for 40-50 years
ReplyDeleteThe readers need to understand something important:
ReplyDeleteThe Fed prints US Currency out of thin air.
The Fed uses the US Currency to PURCHASE the US Bonds.
The Fed collects interest on the Bonds.
Question: Why doesn't the government simply print its own money (like Abe Lincoln and JFK attempted to do)?
Answer: Because the Fed controls the intelligence agencies and will murder anyone who attempts to do what Abe and JFK did.
Thank you
ReplyDeleteNot to worry, peasants. Just raise the water rates 8% like Jake wants to do. Problem solved, until next year.