Dschrute3
Gold Member
- Dec 10, 2016
- 15,572
- 1,871
- 290
Boy, the Swamp Creatures sure have screwed many future generations. Can't even come together and agree on a Balanced Budget. I really hope folks are prepared for the collapse. Because it is coming. The insane massive spending is only getting more insane.
By Ron Paul
Ron Paul Institute
According to financial writer Simon Black, the federal government is spending approximately 52,000 dollars per second. This, not last year’s tax cuts, is the reason why the national debt has reached a record 21 trillion dollars, which is more than America’s gross domestic product (GDP).
Another ominous sign is that this year both Social Security and Medicare will have to draw down on their reserve funds to be able to pay benefits. The Social Security and Medicare trust funds will both soon be bankrupt, putting additional strains on the federal budget and American taxpayers.
The excessive debt caused by excessive spending will inevitably cause a major economic crisis. Yet, with a few notable exceptions, there is little to no desire in Washington to cut spending. Instead, both parties are committed to increasing spending on warfare and welfare while ignoring the looming entitlements crisis.
Examples of fiscal irresponsibility on Capitol Hill are easy to find. For instance, even though the Untied Stares is currently spending more on its military than the combined budgets of the next seven highest spending countries, Congress recently increased military spending by 82 billion dollars. This brings the total the US spends on a futile effort to police and democratize the world to 716 billion dollars...
More:
We’re Spending Our Way - LewRockwell LewRockwell.com
By Ron Paul
Ron Paul Institute
According to financial writer Simon Black, the federal government is spending approximately 52,000 dollars per second. This, not last year’s tax cuts, is the reason why the national debt has reached a record 21 trillion dollars, which is more than America’s gross domestic product (GDP).
Another ominous sign is that this year both Social Security and Medicare will have to draw down on their reserve funds to be able to pay benefits. The Social Security and Medicare trust funds will both soon be bankrupt, putting additional strains on the federal budget and American taxpayers.
The excessive debt caused by excessive spending will inevitably cause a major economic crisis. Yet, with a few notable exceptions, there is little to no desire in Washington to cut spending. Instead, both parties are committed to increasing spending on warfare and welfare while ignoring the looming entitlements crisis.
Examples of fiscal irresponsibility on Capitol Hill are easy to find. For instance, even though the Untied Stares is currently spending more on its military than the combined budgets of the next seven highest spending countries, Congress recently increased military spending by 82 billion dollars. This brings the total the US spends on a futile effort to police and democratize the world to 716 billion dollars...
More:
We’re Spending Our Way - LewRockwell LewRockwell.com
