k0xxx
Mr. Sunshine
CBO Warns
"The report said the nation's debt is on pace to equal the annual size of the economy within a decade. It warned of a possible "sudden fiscal crisis" if it is left unchecked, with investors losing faith in the U.S. government's ability to manage its fiscal affairs." Can you say currency collapse?
And just think, we currently have to borrow an amount equal to about 20% of our total debt each year, just to pay the interest on the debt and to fund government expenditures.
"The study reverberated throughout the Capitol as Biden and senior lawmakers spent several hours behind closed doors. The talks are aimed at outlining about $2 trillion in deficit cuts over the next decade, part of an attempt to generate enough support in Congress to allow the Treasury to take on new borrowing."
Hmmm..., They want to cut $2 trillion over ten years, but we are currently adding $1.7 trillion in new debt every single year, and that amount is forecast to increase. That means (at current levels, and if interest rates don't rise) our debt will only be $15 trillion higher than it is now. WOW! We're saved.
"The report said the nation's debt is on pace to equal the annual size of the economy within a decade. It warned of a possible "sudden fiscal crisis" if it is left unchecked, with investors losing faith in the U.S. government's ability to manage its fiscal affairs." Can you say currency collapse?
And just think, we currently have to borrow an amount equal to about 20% of our total debt each year, just to pay the interest on the debt and to fund government expenditures.
"The study reverberated throughout the Capitol as Biden and senior lawmakers spent several hours behind closed doors. The talks are aimed at outlining about $2 trillion in deficit cuts over the next decade, part of an attempt to generate enough support in Congress to allow the Treasury to take on new borrowing."
Hmmm..., They want to cut $2 trillion over ten years, but we are currently adding $1.7 trillion in new debt every single year, and that amount is forecast to increase. That means (at current levels, and if interest rates don't rise) our debt will only be $15 trillion higher than it is now. WOW! We're saved.
