More massive than the US economy, the national debt hit a new record of $22 trillion under President Donald Trump but Republicans who traditionally rail against debt and deficits have remained mum. The sum of borrowing to cover chronic deficits as well as growing interest payments, this mountain of
— Read on news.yahoo.com/us-debt-hits-record-under-trump-republicans-mum-020620122.html
Of course, this is the plan.
We’ve gone into deep debt for everything except the core function of the federal government.
— Read on www.conservativereview.com/news/bipartisan-spending-binge-now-worse-bush-obama/
This is the real failure of both parties, the rest is a distraction.
The national debt of Japan is more than twice Britain’s proportionate to its GDP, but to service it costs less than half of the proportion of its GDP that it takes Britain to service its debt.
— Read on www.takimag.com/article/a-question-of-when-not-if/
Time to give Government debt and spending some serious thought
I have warned that once one state taxes something, the idea spreads like a contagion. Illinois and California wanted to tax movies or anything you stream. Now, Georgia is looking at the same thing. This is all part of the economic decline. The states are broke. Their pensions are consuming everything. It is no longer about servicing the people, it is all about exploiting the people to fund themselves. There is no rationale behind this. It is all about needing more to cover this year’s budget. What about next year? They basically simply say they will deal with that when it comes. With every new tax, they simply reduce disposable net income, which in turn lowers living standards. This process is not sustainable. A child with a simple calculator can easily figure out that everything will come crashing down. We have politicians who are career people and have rarely ever been on the side of people. It is beyond comprehension, for the bottom line is always the same. NO POLITICIAN WILL VOTE AGAINST THEIR SELF
— Read on www.armstrongeconomics.com/world-news/taxes/the-netflix-tax/
The national debt has passed a new milestone, topping $22 trillion for the first time.
— Read on www.kktv.com/content/news/National-debt-hits-new-milestone-topping-22-trillion-505736481.html
The debt bomb
Democratic party phenom and socialist NY Congressional candidate Alexandria Ocasio-Cortez appeared on The Daily Show Thursday night and was asked by host Trevor Noah how she plans to pay for her agenda:
One of the things that we saw is, if people pay their fair share, if corporations and the ultra wealthy — for example, as Warren Buffett likes to say, if he pays as much as his secretary paid, 15 percent tax rate, if corporations paid — if we reverse the tax bill, raised our corporate tax rate to 28 percent … if we do those two things and also close some of those loopholes, that’s $2 trillion right there. That’s two trillion dollars in ten years.
If we get people to pay their fair share, that’s $2 trillion in ten years. Now if we implement a carbon tax on top of that, so that we can transition and financially incentivize people away from fossil fuels, if we implement a carbon tax — that’s an additional amount, a large amount of revenue that we can have.
Then the last key, which is extremely extremely important is re-prioritization. Just last year we gave the military a $700 billion budget increase, which they didn’t even ask for,” she said. “They’re, like, ‘we don’t want another fighter jet!’ They’re, like, ‘don’t give us another nuclear bomb,’ you know?
(via Hot Air)
— Read on www.realclearpolitics.com/video/2018/07/27/daily_show_host_trevor_noah_to_alexandria_ocasio-cortez_how_will_you_pay_for_your_agenda.html