The complete collapse of the government is almost certain, as the entity is expected to run a budget deficit of $1 trillion this year. The biggest problem doesn’t seem to be the ruling class’ unwillingness to do anything about it, but the public’s lackadaisical attitude.
According to a report released Tuesday by the nonpartisan Congressional Budget Office (CBO), the federal government continues to spend much more than it collects in tax revenue and is pushing the nation to the brink of disaster. While most conservatives blasted the Obama administration for being this neurotic with money printing and inflation, they seem to be letting Donald Trump off the hook.
A combination of the 2017 tax cuts and a surge in new spending has pushed the deficit wider. While tax cuts are good, having more of the money you worked for as opposed to having it stolen, is always a boost to the economy, the Trump administration hasn’t cut spending to match. In fact, the government is continuing to fund the military-industrial complex and Ponzi schemes such as Medicare and Social Security. This year would mark the first time since 2012 that the deficit has reached $1 trillion, a threshold that has alarmed some budget experts because deficits typically contract — not expand — during periods of sustained economic growth.
And some of the costliest government programs are projected to experience expansions in the next decade. Spending for Medicare, which provides health care for older Americans, will rise from $835 billion in 2020 to $1.7 trillion by 2030, while annual federal spending on Social Security will grow from roughly $1.1 trillion to $1.9 trillion over that span. –Washington Post
And a good majority of the population has yet to figure out that the rulers don’t actually care about anyone but themselves. They only want to enrich their own lives at the expense of everyone else. But reckless spending could very well end up being the destruction of the entire ruling class.
This year’s deficit would be an increase from 2019 when the government deficit grew to $984 billion. The deficit in 2016, President Barack Obama’s last full year in office, was $585 billion. CBO now projects that the deficit will be at least $1 trillion each year in perpetuity unless policymakers make changes. –Washington Post
The U.S. government must pay interest on this debt in order to keep borrowing more money. This adds to the problem, and could very well be why the Trump administration is desperate to make your savings worthless by insisting interest rates go to zero.
O.K., So, like why doesn’t the government just abolish the Federal Reserve Act and create a debt free government greenback, not tied to a mathmatically unfeasible gold standard, but tied to land similar to the Pennsylvania pound, but without interest, since it is interest which creates inflation?
Adventures of the guy whom just started paying attention: If the whole world is in debt, to whom are we indebted?
It is the consumers insatiable desire to consume at a level which outpaces their means, and the lenders willingness to supply that which continues to drive all of this. The government is the catalyst which links the cries of the destitute with the specific corporate lobbyist whom will help their parent company extend them credit.
As long as people don’t own, but rather borrow to obtain, expect more of the same. And remember, as currency wars continue and the devaluation of all forms of dollars carries on, more currency must be put into supply to meet the demand of the soon to be indebted. Numbers. In this climate the specific numbers hardly matter. What matters more is the falling levels of actual home ownership, the rising levels of foreign investors, the dollar contrast compared to before the closing of the gold window, and of course the price of gold itself.
Am I the only quizzling wondering why gold ran like a track star but silver remained stable? Libor I suppose but that would be just one joker on top of many many others. It’s all rigged, top to bottom. The sensible solution for a regular joe is to avoid all manner of debt whenever possible. “Let them eat cash.” Who’s economy are we talking about, specifically? The lenders debt based economy or the American citizens equity based economy? The conflation of the two is the news game, don’t fall for it. They could not be further apart. We’re all riding on this rubber band, no get-offsies, not even if you say please.
What’s in your wallet and where do you bank? Seeing through the lies is as easy as saying no to the have now consumerist impulse constantly programmed into us, or the new alternative model which is mandatory sharing with strangers. Hell no to both. I for one still support ad-free-spaces. One a day advertisement limit and I could give a hoot what information the advertisers need to provide relevant advertisement. How about we reject all solicitation on general principal and see what happens? Who would be in control then? Like all things in life, the far majority of control is given freely, even if people are unaware they are relinquishing it. All day long, programmed to say yes to the dress. How about saying no once in a while and wear the pants instead. The world is what we make of it. An economic crash is going to hurt most people reading my comments far more than it hurts me and I’d bet they have vastly more possessions than I do and the debt to prove it. Reality check.
Blaming the banksters is a fools errand. Blame the person whom signed the contract. That is the principal this country was built upon, the merits of contractual engagements which can not be superseded by loyalty, nobility, or status. Sign it. Own it. The government is not here to protect us from ourselves. The governments purpose is to protect the sanctity of contracts, and protect liberties. Audit the FED!
The Epsilon Establishment Psychopaths have become so delusional that they have convinced themselves that life is like a video game that comes with a reset button, allowing them to just re-invent reality and history to suit their needs.
That is insane as hell! Still panicking from their inability to respond to their last “reset” of controlled demolition in the 9/11 attacks.
These evil morons lost long ago with whatever Faustian bargains that they had made.
Once someone decides that they will dedicate their life to being evil, they have lost.
Nobdy can deny that they are evil! They prove it every day!
The “reset” required is a one way ticket to prison for them, so that the rest of us, which are the best of us can resume our lives without their circus freak show drama performances!
We must be resolute, persistent, and relentlessly commited to reminding the Epsilon Establishment Pretenders of reality and their sadistically evil predation and pathological lying.
They have gotten away with it for too long and have convinced themselves that reality is irrelevant.
Relentless reminders to these Epsilon Pretenders as to who they really are will eventually shatter the wall of delusions that they have built around themselves, to the point where they have no options but to admit, quit, or die.
It is very similar to an intervention on a mass scale. They are living in denial, and have caused extreme harm to many, both nationally, and internationally!
I cannot predict the party in power when the collapse comes, but that party will be done as a political party.
1 Billion a day in interest and climbing!