Our National Debt Matters Damn It🤬

This is from a recent CBO budget report. This is something you should care about. This is something you should demand your members of Congress take action on now. We are being extremely unfair to our children and grandchildren😔

• High And Rising Debt Will Have Adverse and Potentially Dangerous Consequences. The fiscal situation will lead to slower economic growth, lower income, higher interest rates, ballooning interest payments, reduced fiscal space, weakened international leadership, and an increased likelihood of a fiscal crisis.

• Major Trust Funds Are Headed Toward Insolvency. CBO projects the Highway, PBGC Multi-Employer, Social Security Disability Insurance, Social Security Old-Age and Survivors Insurance, and Medicare Hospital Insurance trust funds will all be exhausted by 2032 without action to stabilize their finances.

• Fixing the Debt Will Get Harder the Longer Policymakers Wait. Delaying necessary deficit reduction will mean larger spending cuts and tax increases concentrated on fewer people. CBO estimates the size of the needed adjustment would grow by half if policymakers waited just ten years to take action.

One comment

  1. I get it. I can balance my checkbook. I just don’t understand why the politicians can’t figure out that the problem is real. When you are spending 3/4 of a trillion dollars more that the government collects in taxes, something’s got to give and that something is going to hurt people. Besides Washington ignoring the crisis, just wait until the next generation of politicians, the ones who didn’t understand their student loans, finally get to push through Medicare For All and Free College For All.

    I am going to coin this time as the Free For All Period of the United States. The period will be marked by the 99% (or the poor) rioting in the streets trying to get the basic necessities that the government promised them.

    Liked by 1 person

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s