The national debt just keeps growing - -

[bill718]

Between Democrats overspending, and Republicans cutting tax revenue, our national debt has ballooned to a staggering 34+ trillion dollars.

The interest Americans pay on this debt is now larger than both our Defense Budget and Medicare. America is now leveraged to the hilt, like a South American banana republic.

If Democrat and Republican lawmakers don't stop finger pointing, and deal with this problem (and its bigger than many understand) America will face a financial crisis bigger than the great depression of the 1930's.

Interest Costs Surpass National Defense and Medicare Spending | The U.S. House Committee on the Budget - House Budget Committee

The Official U.S. Congressional website of The Republican Budget Committee

budget.house.gov

 

[Votto]

Between Democrats overspending, and Republicans cutting tax revenue, our national debt has ballooned to a staggering 34+ trillion dollars.

The interest Americans pay on this debt is now larger than both our Defense Budget and Medicare. America is now leveraged to the hilt, like a South American banana republic.

If Democrat and Republican lawmakers don't stop finger pointing, and deal with this problem (and its bigger than many understand) America will face a financial crisis bigger than the great depression of the 1930's.

Interest Costs Surpass National Defense and Medicare Spending | The U.S. House Committee on the Budget - House Budget Committee

The Official U.S. Congressional website of The Republican Budget Committee

budget.house.gov

That is the nature of the beast

Congress will never put a limit on how much they can spend, because there is no one to stop them.................EXCEPT!!

If states rise up and create a constitutional amendment, for the first time, they could demand Congress balance the books, or at least try.

That is what the Article V movement is all about. Really, it is America's last hope.

Progress Map: States that have passed the Convention of States Article V application

Once two-thirds (34) of the states pass our resolution, the convention will be called.

conventionofstates.com

 

[Captain Caveman]

Between Democrats overspending, and Republicans cutting tax revenue, our national debt has ballooned to a staggering 34+ trillion dollars.

The interest Americans pay on this debt is now larger than both our Defense Budget and Medicare. America is now leveraged to the hilt, like a South American banana republic.

If Democrat and Republican lawmakers don't stop finger pointing, and deal with this problem (and its bigger than many understand) America will face a financial crisis bigger than the great depression of the 1930's.

Interest Costs Surpass National Defense and Medicare Spending | The U.S. House Committee on the Budget - House Budget Committee

The Official U.S. Congressional website of The Republican Budget Committee

budget.house.gov

Who owns the debt? Some $8.5 trillion is held by foreign countries. Of that, China owns $800 billion. So interest on that part goes abroad, tax payers money is just collected and shipped out. I imagine who owns the securities in the US will be happy at the interest they're receiving. I wonder how many politicians bought securities!!

 

[P F Tinmore]

The constitution gives congress the authority to create our own money. This is at no cost. There is no money to pay back and no interest to pay.

So then, why do we borrow money to be repaid with interest?

 

[Captain Caveman]

Between Democrats overspending, and Republicans cutting tax revenue, our national debt has ballooned to a staggering 34+ trillion dollars.

The interest Americans pay on this debt is now larger than both our Defense Budget and Medicare. America is now leveraged to the hilt, like a South American banana republic.

If Democrat and Republican lawmakers don't stop finger pointing, and deal with this problem (and its bigger than many understand) America will face a financial crisis bigger than the great depression of the 1930's.

Interest Costs Surpass National Defense and Medicare Spending | The U.S. House Committee on the Budget - House Budget Committee

The Official U.S. Congressional website of The Republican Budget Committee

budget.house.gov

No politician will reduce the debt because they get rich off it. The only way is to elect a government that will put laws in place to lower debt, balance the books, and create accountability. Each time Americans elect Democrats or Republicans, both parties just enrich themselves at the tax payers expense. Been going on for decades and you're stuck with it.

 

[Billiejeens]

Between Democrats overspending, and Republicans cutting tax revenue, our national debt has ballooned to a staggering 34+ trillion dollars.

The interest Americans pay on this debt is now larger than both our Defense Budget and Medicare. America is now leveraged to the hilt, like a South American banana republic.

If Democrat and Republican lawmakers don't stop finger pointing, and deal with this problem (and its bigger than many understand) America will face a financial crisis bigger than the great depression of the 1930's.

Interest Costs Surpass National Defense and Medicare Spending | The U.S. House Committee on the Budget - House Budget Committee

The Official U.S. Congressional website of The Republican Budget Committee

budget.house.gov

There has been no cutting of tax revenue.