TRUMP'S RISING DEBTS WILL SOON FORCE THE U.S. TO SPEND MORE ON INTEREST THAN MEDICAID, DEFENSE

The debt has increased at a much slower rate since trump took office

 

Tax revenue has gone up since the cuts

 

Yes I do believe the government should make some Cuts in spending.

 

The federal government needs to be cut in half. And we need a 10% flat tax.

The alternative is a complete collapse and revolution.

 

SOCIAL SECURITY

The proposal saves and strengthens this important retirement program and makes it sustainable for the long term.

-Preserves the existing Social Security program for those 55 or older.

-Offers workers under 55 the option of investing over one third of their current Social Security taxes into personal retirement accounts, similar to the Thrift Savings Plan available to Federal employees. Includes a property right so they can pass on these assets to their heirs, and a guarantee that individuals will not lose a dollar they contribute to their accounts, even after inflation.

-Makes the program permanently solvent, according to the CBO, by combining a more realistic measure of growth in Social Security’s initial benefits, with a gradual, modest increase in the retirement age, consistent with Americans’ improving lifespans.

-----------------------

MR. AFM, effective tomorrow, let's assume every workers under 55 will contribute one third of their current Social Security taxes into personal retirement accounts;

Here's the math;

Total employed (16 years and over) Oct 2018; 156,562,000
Total employed (55 years and over) Oct 2018; 36,602,000
Total employed (under 55); 119,960,000

Total FICA Contributions (employed under 55), conservative estimate;

119,960,000 X Median $35,000 X 12.4% = $520 billion

ONE THIRD = $173 billion

My question to you; How will said estimated and additional $173 billion SS shortfall be financed considering the fact Ryan's proposal will preserve the existing Social Security program for those 55 or older?

 

In your twisted mind you think all corporations are billionaires, that is 100% not true. A corporation you work for unless it's a government job. Every mom and pop are corporations so get over the BS for once please.

 

I really don't get Democrats running away from the fact that it was their gross abuse of spending that created the debt that is now consuming the federal revenue.

Of course the answer isn't raising taxes, it's dissolving the debt. And all those federal bankers will wet their pants as they watch their carefully cultivated cash cow get out of the fence...

If the US government choses, at any time, it can retake the power to underwrite the US currency. Whatever will the Rothschild folks do? However will they be able to cover their own exposures?

 

FYI, the House has control over the spending.


https://history.house.gov/institution/origins-development/power-of-the-purse/

 

What a pile of crap.

Trump's been President for 661 days and over that time he has run up $9,127,685,207.20 LESS in debt than Obama did in his final 661 days, even though Trump doubled GDP

https://www.treasurydirect.gov/NP/d...tYear=2015&endMonth=11&endDay=12&endYear=2018

 

Actually, we had a vote on a BBA back in April. How did the Democrats vote on that?

 

What matter most is the interest on the debt, "conservatively" projected to double within the next five years.

Thus, the question is; Where will we find an extra $325 billion to finance the debt?

 

We had a vote this year in the House. Will there be one under a Democratic House?

 

I don't know. Didn't read about it.

Edit:
While supportive of a balanced budget amendment in theory, some conservatives said Thursday's bill was purely symbolic and had no teeth.

Rep. Thomas Massie, R-Ky., one of the most vocal conservatives in the House, said the vote coming so quickly after approval of the spending bill was "the definition of audacity.”
https://www.usatoday.com/story/news...dment-counter-high-spending-levels/508665002/

I guess it was a dog and pony show.

 

Yeah, I doubt it was covered much at Think Progress.

 

Great topic. Its the one issue that should unite both parties. It doesn't seem to matter if there is D or an R by their name, they spend like a thief with a stolen credit card.

 

Think what?

Any way, I looked it up. You responded so quickly likely you missed it.

While supportive of a balanced budget amendment in theory, some conservatives said Thursday's bill was purely symbolic and had no teeth.

Rep. Thomas Massie, R-Ky., one of the most vocal conservatives in the House, said the vote coming so quickly after approval of the spending bill was "the definition of audacity.”
https://www.usatoday.com/story/news...dment-counter-high-spending-levels/508665002/

It was a dog and pony vote. Right after they passed the...... "With the recent $1.3 trillion budget-busting omnibus, we must renew our efforts to tackle the spending crisis."

 

Yes. Tax and spend D's.
Borrow and spend R's.
But they both spend like drunken sailors.

 

It's a dog and pony vote if you vote against it. How did the Democrats vote?

 

Dunno, what are republicans offering as a compromise?

 

No it’s a dog and pony show to vote for wild spending and tax cuts, then vote for an amendment you know won’t pass.

 

Of course!

HOWEVER,

Revenue growth rate since the tax cuts;

Feb 2018 total receipts; $1.286 trillion
Sep 2018 total receipts; $3.328 trillion
Percent of increase; 158.5%


Revenue growth rate, same time period, excluding tax cuts;

Feb 2017 total receipts; $1.256 trillion
Sep 2017 total receipts; $3.314 trillion
Percent of increase; 164%

DOWN, DOWN, DOWN, 5.5%! DESPITE THE FOLLOWING FACTS;

a. From Feb 2018 to Sep 2018, Trump's economy added 750,000 jobs
b. From Feb 2018 to Sep 2018, wages have increased

 

Again, feel free not to initiate conversation with me in the future.

I run two business. Try to peddle that bs somewhere else.

 

Wow just an awful attempt at deflection.
Try again - with some integrity this time.

 

Trump has done nothing to lower the deficit and has instead increased it every year.
Interest rates are indicative of a strong economy - one that instead of trying to pay down our debts Trump has simply given money to the rich.

 

Oh I was paying attention during Obama, Trump and the cons vow was to balance the budget.
Why are the cons suddenly ignoring this issue?