Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The United States is almost certainly on an unsustainable path with regard to the astronomic rise in its national debt, according to a million simulations run by Bloomberg. Bloomberg reported Tuesday that it conducted a million simulations on the U.S. debt outlook and found 88% of them show borrowing is on an "unsustainable path."
The findings come after a forecast by the Congressional Budget Office that indicates the national debt will grow to an astonishing $54 trillion in the next decade, the result of an aging population and rising federal health care costs. Higher interest rates are also compounding the pain of higher debt.
Payments are expected to triple from nearly $475 billion in fiscal year 2022 to a stunning $1.4 trillion in 2032. By 2053, the interest payments are projected to surge to $5.4 trillion. To put that into perspective, that will be more than the U.S. spends on Social Security, Medicare, Medicaid and all other mandatory and discretionary spending programs.
Debt to GDP is forecast to hit 185% in 2050. This isn't going to end well (assuming the civilization makes it to the year 2050).
The common-they has absolutely no idea how to run their own life/finances let alone the economy of an entire nation.
It’s all about thinking small picture and immediate perceived benefits in exchange for votes. That and feel good legislation.
New Jersey is a good case example. Out of control taxes and spending. Lots of government waste. Lots of inefficient and ineffective services that a majority of the state’s population doesn’t even receive or benefit from, mostly terrible schools, and every time someone dies a new law is made banning something most people once enjoyed.
To spell it out a little clearer, at least from my POV.
The national-debt becoming "unsustainable" does not mean the USA "goes bankrupt" or "cannot pay its bills". Unsustainable in this context means the debt-to-GDP get way too high, and there is a whole list of financial problems/consequences connect to that dynamic.
Anyone with a brain knows the democrats just triple down on more debt.
Sadly, I doubt Trump will do much, if anything, to support treating this seriously either.
That can will just keep getting kicked down the road.
As Rand Paul put it, “When the Democrats are in power, Republicans appear to be the conservative party. But when Republicans are in power, it seems there is no conservative party.”
And of course ultimately all of our fault. Would we the people vote for someone that is going to raise taxes and cut spending/benefits for the sake of future generations?
As Rand Paul put it, “When the Democrats are in power, Republicans appear to be the conservative party. But when Republicans are in power, it seems there is no conservative party.”
And of course ultimately all of our fault. Would we the people vote for someone that is going to raise taxes and cut spending/benefits for the sake of future generations?
There's any number of cuts that could be made, particularly with Medicare. I'm on Medicare myself and I witness lots of unnecessary expenditures, particularly with expensive excessive imaging.
My attempts to save $ for Medicare gets me no Thank-you cards, no acknowledgement whatsoever. I just had a stem cell treatment in Mexico on my knee (a huge success!) for $1900, and Medicare won't cover stem cell treatments, they want you to undergo expensive knee replacements, and afterwards, physical therapy. I know a retiree that shelled out $ of his own for a stem cell treatment on his hip, saving Medicare the expense of a hip replacement. No thank-you card either.
As Rand Paul put it, “When the Democrats are in power, Republicans appear to be the conservative party. But when Republicans are in power, it seems there is no conservative party.”
And of course ultimately all of our fault. Would we the people vote for someone that is going to raise taxes and cut spending/benefits for the sake of future generations?
He's correct. Our fiscal car is pointed towards the edge of a cliff. Democrats floor the accelerator. Republicans lightly tap the brakes. Anytime the Republicans propose cuts, Democrats claim they're going to "kill Grandma" and "starve children", which is ironic because that's what Democrat fiscal policies will eventually do if not stopped, and Republicans recoil and reverse course. I'm tired of it!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
