The National Debt Is Coming Due, Just Like We Told You


#1

Oh, exciting times. This is o problem at all! Our hot economy will solve all of this!

Someday…

Here are some lies and fake news from the socialist-communist-leftwing-liberal-progressive Wall Street Journal and Reason magazine:

In 2017, interest costs on federal debt of $263 billion accounted for 6.6% of all government spending and 1.4% of gross domestic product, well below averages of the previous 50 years. The Congressional Budget Office estimates interest spending will rise to $915 billion by 2028, or 13% of all outlays and 3.1% of gross domestic product…

It will spend more on interest than it spends on Medicaid in 2020; more in 2023 than it spends on national defense; and more in 2025 than it spends on all nondefense discretionary programs combined, from funding for national parks to scientific research, to health care and education, to the court system and infrastructure, according to the CBO.


#2

Well, one thing is certain. With the new House, this most assuredly will NOT be solved…or likely even addressed. The left doesn’t CARE about debt because what it does is hasten the arrival of their long-sought-after socialist utopia.


#3

One things for sure, put Republicans in charge of the entire government, and this problem most assuredly will not be solved. How do I know? Because they didn’t. In other words, no one is going to solve it. Too few actually care.


#4

So, @Rightwing_Nutjob, what would you propose as a solution?

In fact, is it even solvable?


#5

Yes, cut spending. Where, you ask? Start with farm subsidies. Cut everything 5 percent. Freeze wages a year or two. I can go all over the place and find places to cut. I could spend a lot of time on this if you like on what and where, but cutting spending is the only way to deal with it. That’s how we do it at home when times get tough.

In fact, there’s a link out of that Reason article {from an irresponsible time that seems saner) that runs down a way to do it while maintaining a still-ridiculously large government.

Do you think there’s a solution?


#6

Start by hanging all the theiving politicians…oh, theiving politicians is a redundancy isn’t it?


#7

Do we do this cut every year . . . for how many years? Won’t this MAYBE just keep up with the interest payments on the debt? How long 'till it starts reducing the pirinciple?

(Wages frozen just for a year or two? Isn’t that just a fart in a hurricane?)


#8

How about wages of Congress cut 10% every year until they start reducing the debt (not deficit), and keep the cuts in place until the debt is gone…

Of course, it wouldn’t work, because they make most of their money from graft…


#9

Actual reductions of small percentages add up in the long term. Five percent not compounding year after year would help. Five percent one year, then another, then 2 percent and smaller cuts over time would have a big impact as long as it’s kept up. I’d favor the O’Rourke Circumcision Precept: “You can take 10 percent off the top of anything.”

https://books.google.com/books?id=1Kn1VP4TX-gC&pg=PA103&lpg=PA103&dq=PJ+o’rourke+circumcision&source=bl&ots=VMK7UkpTBG&sig=lkYoqh4eRP624o5QQom51XnWjFs&hl=en&sa=X&ved=2ahUKEwjzyvaOxNLeAhWnxVQKHYT8D18Q6AEwAHoECAIQAQ#v=onepage&q=PJ%20o’rourke%20circumcision&f=false

But politics being what it is, we’d be lucky to see actual cuts at all, since politicians view reductions in increases as “cuts.” It’s mentalities like this that must change. If they don’t, bad times are in our future.


#10

Yes they are.


#11

Sure, that’s a reasonable start.

Also, President Reagan promised to get rid of the Department of Education, but it’s still here consuming money and damaging education. All of its functions should be reverted to the states, where they belong, or even down to the PTAs.

Another is the Department of Energy. Get rid of it. It’s the reason we haven’t even begun to exploit the abundance of thorium energy we are blessed with. China and India are way ahead of us. Thorium molten salt reactors don’t have to be pressurized, so they can’t have a loss of pressure accident. And they can be designed inherently safe such that a total loss of power (e.g. Fukushima) won’t damage the reactor.

I hope President Trump starts a campaign of vetoing every attempt the Democrats make to spend more. They want to fight. So fight. Veto everything until they start passing bills that spend less than last year.


#12

I’ve heard the promises over the years by Republicans, but when they get the keys, they never ever do anything about it. They cut taxes and keep spending like drunken Democrats. That includes the president and almost every congressman, including what’s left of the Tea Party. They’ve spent two years proving it.

Apparently, that’s the only time Republicans will attempt to exercise fiscal restraint. We’ve yet to see whether the president will. Big spending bill goes through, and all he complains about is not having funding for his wall in it. Then he signs it anyway.


#13

True. But several other presidents promised to move the embassy to Jerusalem and didn’t, but President Trump did. Same with cutting regulations. The media doesn’t report on his regulation cuts, but I understand that’s a big part of the reason the economy is on fire.

Therefore it’s my hope that President Trump will do the one thing that’s absolutely crucial to saving the country–cut spending.


#14

I’ll believe it when I see it… actually it will take a while after that. Me getting that pet dragon is more likely, imo, but Trump has already surprised me a couple of times…


#15

It’ll happen now, a little, that Democrats control the house – or at least it won’t grow as much. It’s not because Donald Trump or any other Republican is keeping his promise. It’s just going to be because Team Red and Team Blue won’t cooperate.


#16

They might on #@!*ing us over…


#17

Yeah, beware bipartisanship. It’s disgusting. I love gridlock. I want to join the Obstructionist Gridlock Party. The party logo can be a troll.


#18

I’ll be the mascot… :joy:


#19

There was not one annual budget signed by Barrack Obama in the 8 years that he was President, not a single one.

The GOP had the Congress for 6 of those 8 years and passed some decent budgets in that time; all were rejected by Obama.

That left the GOP with the option of shutting down the government or living on “continuing resolutions” over and over again while trying to get something decent passed.

This is the ONLY historical period where a GOP congress has failed to improve deficit spending in peacetime when they had power in Congress.

If you call the cowards, that is fair; but making the claim that they are anything close to the Democrats is utterly ridiculous.

By the way, so is talking about “subsidies” and congressional wages “as a start” to addressing the interest problem on the debt; those things would like cutting how much ink you buy for the office printer to “start” paying off the new Freedom Tower.

By the way, the GOP leadership had to secure Democrat votes for every one of those continuing resolutions under Obama because the Tea Party Representatives elected in 2010 for the most part would not support them; yet many try toss them under the bus as well.

That is why we won’t fix this, it has nothing to do with the size of the debt; it is the complete unwillingness to do math, recognize who the good guys are and even try to understand the long game on the part of those who claim to want the issue fixed.

You will not be finding clues to how this can be done by reading Reason and the WSJ; that is not where sound economic minds eat their lunch.


#20

They have the keys to the castle, and they did nothing. They almost never have the keys to it all. The last time they did was in war time – of course it’s still war time sort of. So they had an excuse, but they did nothing to control spending then either.

Truth.

Lol.

Like you said, it’s a math problem. Math is math even when folks you don’t like use it – and they do.