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CBO Report: Republicans Accelerate The US’s Path Toward Bankruptcy

Mac Slavo
April 17th, 2018
SHTFplan.com
Comments (31) Read by 2,447 people

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It doesn’t take a math whiz to know that the nation is headed toward a complete bankruptcy. But now, a new CBO (Congressional Budget Office) report released is ripping the mask off of the Republicans in Congress and showing us who they really are: Democrats.

After the last horrifying budget deal which saw trillion dollar deficits, Republicans can no longer be called the party of being fiscally conservative.  It appears that the Deep State will get their way regardless of who is in power, and there’s nothing the rest of us can do about it.

Last year the Congressional Budget Office warned that Uncle Sam was racing toward fiscal insolvency. Although the CBO expected the deficit to fall to “only” $487 billion this year, it would start growing again next year. By 2022 the flood of red ink would near $1 trillion. By 2027 it would reach $1.4 trillion. The cumulative deficit over the following decade would be more than $9.4 trillion and 4 percent of GDP, as outlays grew ever higher. Expenditures currently are about 21 percent of GDP, above the 50-year average of 20.3 percent. By 2027, CBO projected spending would hit 23.4 percent of GDP. –National Review

The corporate government is bankrupt, and it’s only getting worse in spite of Republican promises to “fix” it.  The CBO’s report on the federal government’s finances over the next decade is the stuff of nightmares.  And with Republicans holding all three branches of government, there’s little they can do to shake the truth: they are all the same.

As the agency politely put it, “projected deficits over the 2018-2027 period have increased markedly since June 2017.” The rise was almost entirely the result of the spending and tax bills approved last year: Uncle Sam will be spending a lot more while taking in a good bit less in the future. That is, the Republican-controlled executive and legislative branches went wild and abandoned even the pretense of fiscal responsibility. It wasn’t the first time, of course: In the early 2000s, President George W. Bush and the Republican Congress spent money faster than even Lyndon Johnson and his Democratic congressional majority. The latest round of GOP budget-busting provides a dramatic reminder that the spending problem in America is bipartisan. -National Review

The US continues to move rapidly down the path of insolvency.  And the numbers continue to look worse when peering down that path. According to the new CBO analysis, the deficit this year will exceed $800 billion, well above last year’s prediction. The deficit will be just shy of $1 trillion next year, continue to shoot upward to $1.3 trillion in 2027, and reach an astounding $1.5 trillion in 2028, higher than even during the financial crisis, which generated four years of trillion-plus-dollar deficits. Total red ink over the next decade will be around $12.4 trillion. As a percentage of GDP, the deficit will run 4.9 percent. In 2027 the total national debt held by the public will be $27 trillion and 94.5 percent of GDP, the highest it’s been since 1946 when the U.S. was paying down its World War II debt.

Future deficit gaps will be accelerated by “mandatory spending” on entitlements, such as social security. According to the CBO, the “increase reflects significant growth— mainly because the aging of the population and rising health care costs per beneficiary are projected to increase spending for Social Security and Medicare, among other programs. It also reflects significant growth in interest costs, which are projected to grow more quickly than any other major component of the budget.” The agency figures that interest payments will rise three times in total and two times as a percentage of GDP by 2028. Revenues also will increase significantly, but not as fast as outlays.

There is no real silver lining.  Spending will not decrease, not enough to keep the government from its eventual implosion and collapse under its own weight anyway.  The only thing we can do is to pay off as much debt as possible and prepare for an economic collapse of the government’s doing.

Prepping and survivalism can be a daunting task.  But if you’re interested in getting started, not only is now a great time to begin, but a book called The Prepper’s Blueprint written by Tess Pennington can be a helpful ally in giving you a launch point.

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Author: Mac Slavo
Views: Read by 2,447 people
Date: April 17th, 2018
Website: www.SHTFplan.com

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31 Comments...

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  1. Kevin2 says:

    The US passed bankruptcy when they reneged on Bretton Woods in August 1971. Its been pure counterfeiting since then. Its continuance requires an ever increasing use of muscle to maintain it which is getting dangerous.

  2. Concerned Citizen says:

    The U.S. Congress is a complete Failure, actually the ENTIRE Gov’t is a massive Failure all around, as they steal and rob our paychecks to the point of almost nothing left and then burn and waste and misuse and manipulate and fart-around with OUR Billions and Trillions…

    • john stiner says:

      Not just the Federal level either. My property taxes just took a massive jump.

      Went from $2250 to $22750. $500 jump in one year.

      I hate the government. Greedy bastards.

  3. We aren’t bankrupt. We’re insolvent. This is worse. When you have to borrow money to pay the interest, you’re insolvent. We’re doooomed!

    • Bill says:

      The combined fed./state/ local gov’t debt is worse than bankruptcy or insolvency. Non-government entities that are bankrupt or insolvent 1) can trim their liabilities without causing turmoil on a huge scale, 2) usually have assets that are equal to or may even exceed the amount of their debts, 3) cannot employ violent means to confiscate funds or property belonging to parties not responsible for the entity’s debts, 4) cannot make heavy-handed laws against the general population when it wants or needs something – it cannot strip you of your property and/or rights when it gets into a jam, 6) cannot print money or control the value of currency, 7) permit draining off the wealth from the middle class to benefit the .1 %, 8) will seek to resolve debts as much as possible with their own resources once bankruptcy is declared. These however, do not apply to those “too big to fail” institutions that has officialdom and politicians in their pockets.
      I used to be hopeful, I thought elections meant something, no more. Now, I am only all about insulating myself as much as possible from the inevitable coming effects. In every way I will only invest my time, knowledge, money, resources, and energy for my own. To be centered on and concerned only with my 5F’s – my family, faith, friends, freedom, and finances. GOD save the South!

  4. Heartless says:

    Pedal to the metal with the printing press time!!! Yeee-Haww!!

    • john stiner says:

      Obama tried to get the European Union to print money to keep the economy going and Germany flat refused. They said they would rather go into a 1930s depression rather than print money.

      They remember that in the late 1920s run-a-way inflation brought on Hitler and the Nazis, and they are not about to make that mistake again.

  5. Old Guy says:

    Yep, also true, and it ought to scare the hell out of them. If the liberals ever get their wish for a new civil war, my money is on the side with all the guns. )Thats a Quote taken from the Woodpile Report. I think most who post here deep down knew there isn’t much difference between the political partys. and Trump wasn’t gonna be the answer. There hasn’t been is not now. and likely never be any viable political or ballot box solution. So we must ask ourselves where does that leave us? What is our best option? I think keep on prepping is the only thing to do for the moment.

  6. Sean says:

    If you did not already know that both major political parties are both lying to, and betraying, the American people, then I cannot explain it to you.

  7. Its like a man whose waistline is 56 trying to put on a pair of pants with a waistline of 36;forget about it! You can suck your gut in all you want but not a chance! Forget about balancing the budget. Forget about income tax. The new tax system will be: You tell them what you have and they tell you how much you can keep! It’s coming!!!

  8. If you look at conditions prior to Ww2, many of the same conditions exist in the USA.

    Germany rebounded under a dictator. Contrary to popular belief, this dictator did not want war. In his own words, he tells us that what he wanted was not war but to build Germany into a great Country and Culture. He succeeded. War destroyed his accomplishments.

    My point is that the USA may find itself under some Nationalistic type of authoritarian dictatorship if the economy gets as bad as these predictors point. It could be bad or good depending on the intentions of those in charge.

    _

    • john stiner says:

      Contrary to popular belief, this dictator did not want war.

      Wrong. Hitler wanted to murder ALL the jews, gypsies and many other peoples. This is genocide. War is when the victims of genocide fight back.

      People like to say that Trump is nationalistic and white supremacy like Hitler, but the Democrats are the true threat.

      Who wants to restrict free speech? Democrats.
      Who wants to restrict freedom of religion? Democrats
      Who wants to abolish the 2nd Amendment and ban guns? Democrats.
      Who is stiring up race problems trying to cause race hatred among the citizens? Democrats

      Who beats people up at political rallies, just like the brown shirt Nazis did? Democrats

      Who wants to remove a democratically elected President voted in by the people? Democrats

      Yes, I too think America is like the 1930s pre-world war II, but Trump is not Hitler. The democrats are the nazis, after all nazis are socialists.

      • John Steiner:

        I don’t believe that anymore. Hitler made dozens of attempts sending dozens of proposals to England requesting an end to the conflict.

        And as far as genocide, the only people to be genocide were the German people. All that msm movie stuff is anti-German propaganda. The liberated work camp movies were propaganda, too.

        Sure there were dead people and corpses after Germany was bombed into rubble.

        __ And yes, innocent people on both sides suffered and died. But after doing some research, it is difficult to believe 9/10ths of the allegations against Hitler.

        A great many people have made money off the war. And where money is being made, Truth is the first victim.

        __ This subject is going to be argued for a long time. You could be correct. I wasn’t alive when it happened. Neither were you. So, neither of us knows anything for sure.

        __

        • John Stiner says:

          You must be a 9/11 truther too.

          • John:

            It is well documented that there were work camps. This is undeniable. People inside were in a terrible state by the end of the war. They were cut off from food and supplies because of the fact that Germany was being bombed. This, too, is well documented. There was an epidemic of typhus adding to the death toll. It is a wasting Disease.

            Little Ann Frank, who wrote the famous Diary died of Typhus after being rescued. This is a fact. It is a confirmed fact. Yet, many today believe she died in a gas chamber.

            The part that I question is whether or not there was a systematic murder by gassing. It really doesn’t make any sense. It makes more sense that the clothes were being deloused as there is evidence of this. There is zero evidence that humans were ever gassed.

            The numbers don’t add up either. The records show that less than 400,000 deaths occurred in all the camps combined. All the “prisoners” had tattoo numbers. The Germans documented everything. They had no records nor any orders for gassing.

            So, whatever happened. There is legitimate reason why so many people question what really happened.

            __

  9. southside says:

    Concerned Citizen,my thoughts exactly. A complete and utter failure,from A to Z. I live on a lot with 4 other trailers. Everyone else being on disability. Their ‘disability’ has a lot to do with their lifestyle. Smoke too much,grossly overweight, bad eating habits,sitting around playing on their tablets,etc.Just a few changes to their lifestyle and most of the physical problems would resolve themselves. But no,they feel they are entitled. One thing for sure, they are NOT entitled to my preps.

    • the blame-e says:

      You sure you aren’t talking ab out the professional politicians, the MSM, the rich elites, and the corporate oligarchs? They ALL behave like they are entitled.

  10. the blame-e says:

    Bankruptcy, insolvency, default, consequences mean nothing to these people.

    • john stiner says:

      I disagree.

      I think they know what is coming.

      Since they know there is no stopping it, then they are trying to get as much out of it as they can.

      Kinda like when the dog gets caught eating something they are not supposed to. They know they are going to get a wack on the head, but as you get closer to them, they eat faster and faster trying to get as much in as they can before they get wacked.

      Same thing here. Get as much in as you can before it all goes to shit.

  11. rellik says:

    I’m in a rare mood today, and it is a bad mood.
    Today I write a check to the US government
    for my taxes. I only pay them once a year.
    If all taxpayers were to do the same, we
    would not have the spending problem we
    do because we could just not pay them
    one year and we would get their attention.

  12. Bankruptcy?

    You haven’t heard? Modern Monetary Theory. Debts don’t matter. We owe it to ourselves.

    “Owe it to ourselves.”

    BWAHAHAHAHAHA…sigh…

  13. lena says:

    those in congress know you cant vote them out with rare exceptions.

    no reason not to run the country as they see fit.

  14. Vet1 says:

    This is gonna play out and continue just the same as it always has been..,

    There is no one elected that is going to change the economic course of this nation…

    We are headed smack dab into a huge iceberg that is just now coming into view…

    Sad to say but I think another world war will come about right before we hit the berg…

    I have no idea if anything I do today is going to save me and mine but I ain’t throwing in the towel…

    Keep your powder dry …

  15. The typical taxpayer may receive a refund of hundreds of dollars but pays thousands of dollars in taxes. He treats it like he has won the lottery and ignores the fact that it was his money all along. We don’t have a government that is of the people, by the people, and for the people. Rather, we have a government that is of the idiots, by the idiots and for the idiots!

    If the typical taxpayer had to write a check for the full amount of the taxes to the U.S. Treasury, you would have one outraged taxpayer! Tens of millions of outraged taxpayers around April 15th would make Washington, DC an uncomfortable place to be living. Unregulated borrowing and creation of money and income tax withholding has undermined the whole country. We wouldn’t have an unpayable national debt and massive budget deficits.

    • Marilyn says:

      If the politicians would stop giving themselves large raises, while the rest of of get, cost of living increases that go to the insurance companies, that could help the situation. Then they need to cut back on the amount of people they have working for them. They can’t keep on spending more then they have to work with.If they really do work for the people then why don’t we have a say in there pay rates.Its extortion, they use the people for there high life styles,In the mean time try to blame it all on programs the people have already paid into. There wouldn’t be a problem with SS if they hadn’t spent the funds from the accounts. Time for some big cut backs in DC, stop the miss use of public funds.If we ran our homes the way they run this country,we wouldn’t get far.Budget means, you have boundries.