Interesting stat about the 3.5 trillion dollar budget bill...

I did a little research and a few calculations and came up with some numbers. They are sort of shocking. I don't envy future generations. What do you think? I am supposed to have at least three lines of commentary before posting, so I needlessly elaborate with this preface though the following is my commentary.


It is 2,500 pages long. If you divide 3.5 trillion dollars by 2,500 pages, you get 1.4 billion dollars per page of a document that I doubt one Congressperson has read.

Notes*

Three-point five trillion dollars divided by 320 million people is $10,937.50 for every man, woman, and young’un in the US.

Three-point five trillion dollars is an increase of the 28.5 trillion dollars national debt of over eight percent, which will be strapped on future generations.

If the present population had to pay the national debt with the 3.5 trillion dollars, it would be approximately one hundred thousand dollars for every man, woman, and young’un.

The words “practicality” and “frugality” seem absent from politicians’ vocabularies.

 

Yet the annual cost of that bill is less than half of the cost of out military budget...just for perspective.

 

Thanks for that. I really don't know enough about the military budget to comment. But, if I was forced to speculate, I would guess it might be bloated. No, wait. I just looked it up, Your contention seems incorrect. Please explain.

 

yep, we passed the point of no return in the last 20 years... now if we quit printing money, the house of cards falls down

so the only thing to do now is keep printing until we can't no more, then go bk like Russia did

we could have prevented this by restricting excessive foreign imports and excessive foreign outsourcing years ago, now it's too late

greedy corporatism is destroying capitalism

 

It was the government who spent money we did not have.

 

I guess I can't disagree.

But I would be remiss if I didn't note that, I believe, Clinton did NAFTA, GATT94, and gave China most favored trading status. Back then, when I was old, I was adamantly opposed to sending our manufacturing overseas. The media espoused that we were destined to be a service economy. Now we send every possible service overseas. Have you tried to call a large company's customer service phone number lately?

 

yep, he was saved by the new information society dream... who knew that corps would soon send those jobs overseas too

 

we did not have the money anymore as greedy corps were sending our jobs overseas and getting their products to sell us from overseas

each dollar printed touches fewer American hands than it did in the past, that means less taxes collected per dollar Printed

the reason the world is letting us print so much money is much of it goes into the American economy, then right overseas

we stuck our hand in Pandora's Box and if we remove it now, it's gonna be painful

 

The 3.5 trillion is spread over 10 years (you can do that math) and is only 5% more of what would be spent anyway over the same time span. It really isn't a big deal and has programs that ARE a big deal.

 

It was Reagan that started exponential debt growth.

 

The turning everybody's banking history over to the IRS is kind of a big deal for many.

 

The number 3.5 trillion in the infrastructure budget is spread over 10 years so the yearly cost is 350 billion dollars. The current military budget is over 750 billion a year; it will be 768 billion in 2022.

 

I guess you also calculated the $$ that future generations would have to pay back when Trump pushed through his tax cuts to the corps, with $1.5 trillion on the national credit card? Yes or no?

 

Yes
As the IRS will be monitoring each and every citizen’s bank account over $600 you can bet there will be millions of folks needlessly brought under scrutiny for legit transactions… but they are also hiring 80k plus agents to handle the litigation and all the while using tax payer money … which means if you fight anything in court they will just drag you down until you have no money as their bank account is limitless…

 

So you are not opposed to the bill, but you are opposed to the IRS looking into peoples' bank accounts? Would you accept the current bill if the bank decision were not enacted?

 

Correct.

Unlike GOP spending bills, this one is funded by new taxes. No one likes taxes, but since the bill is in fact funded, it is fiscally more conservative than the un-funded GOP spending bills.

 

There are some things I support and some things I oppose in the bill. The banking thing is only one of the things I oppose. Another is heavy handed medicare drug negotiations as those "savings" will be pushed onto consumers who are not medicare recipients. They need to find a better approach to containing drug prices. I think the $3 billion earmarked to plant tree saplings will be wasted money that could be better used elsewhere.

It is a mixed bag and as I have said before, I would rather they divide this monster up into several smaller bills so that the various things could be voted on, negotiated upon, etc on their merits separately as opposed to their all or nothing strategy.

 

No my liberal friend you should stop tell people what they think…

Did the Congress exempt themselves from the $600 oversight like they have so many others?

 

Thankfully Democrats are making sure future generations are too stupid to comprehend how screwed they are

 

I was just wondering what the link was between the IRS and the infrastructure bill was. I asssumed since you linked them they must have some connection as you have said before people need to stay on subject.
I didn't tell anyone what to think. I asked a question. I asked if you were willing to compromise.

 

That bill costs almost half our entire military budget?

Wow.

Thanks for pointing that out.

 

Programs like: "I am from the government and here to help" type programs?

What are some of these programs you like?

 

Presidents can't spend a dollar not allocated by the legislature.

Blaming the president for spending is like blaming the babysitter for the mortgage.

 

I believe everything I said in my post is correct. Here is more about the impact of the bill than I know from the National Taxpayers Union. I believe it is a reliable source.

Putting Senate Dems' $3.5-Trillion Budget Deal in Context - Publications - National Taxpayers Union (ntu.org)

 

When the government spends more than it receives. It creates a deficit.