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A crisis in America that no one seems to be paying attention to is the debt crisis. What we really need to do to remedy this is spend $70 billion to 'build that wall', yeah that will help...
'Over the next decade, we'll spend around $7 trillion -- $55,000 per household -- just servicing our debt. Between massive new tax cuts and massive spending hikes, Congress has added over $2 trillion to projected debt.
The Medicare trust fund is projected to run out of money in 7 years, Social Security Disability in 5, and Social Security retirement in 12, according to the nonpartisan Congressional Budget Office.'
This is why we need to cut all the handout spending.
Yep. Fed Gov is going to run out of OPM (other people's money).
Now add this on top of the impending interest on the national debt crisis...
Women on public assistance, as a group, have a 3 times higher birth rate than women and their partners who financially support themselves and their children. 3 to 1 birth rate. 3 to 1, public assistance-dependent to self-supporting (source: US Census Bureau's analysis). Now think about how compounding that via population growth will create an exponentially growing welfare-dependent class while the self-supporting population doesn't grow nearly as fast.
Did you ever do the Bio 101 experiment where a microorganism was introduced into a petri dish with a nutrient medium? Everything hums along fine for a while. But then the microorganism overpopulates the dish, what with being fed and all, exhausts the nutrient medium, is not able to produce/procure its own food, and then the organisms begin dying off until the dish population is extinct.
I know everyone wants to focus on the big ticket items...
the wall is not the problem... baseline budgeting is the problem... being involved in the revenue stream of health care, college education, the mortgage industry, and others is the problem. We give out money to people who do not pay taxes through tax credits. We give out millions of foreign aid to friends and enemies. We spend military money protecting other nations. There are so many bad money practices that go unchecked.
We spend a ton of money on the entire bloated government structure.
This is an entire system failure that points the finger at the citizens, who also carry a ton of debt personally. So it should be no surprise that debt is not a big deal - under the media brings it up to ding a conservative.
Yep. Fed Gov is going to run out of OPM (other people's money).
Now add this on top of the impending interest on the national debt crisis...
Women on public assistance, as a group, have a 3 times higher birth rate than women and their partners who financially support themselves and their children. 3 to 1 birth rate. 3 to 1, public assistance-dependent to self-supporting (source: US Census Bureau's analysis). Now think about how compounding that via population growth will create an exponentially growing welfare-dependent class while the self-supporting population doesn't grow nearly as fast.
Did you ever do the Bio 101 experiment where a microorganism was introduced into a petri dish with a nutrient medium? Everything hums along fine for a while. But then the microorganism overpopulates the dish, what with being fed and all, exhausts the nutrient medium, is not able to produce/procure its own food, and then the organisms begin dying off until the dish population is extinct.
Hauser's Law - government will get ~17% of the GDP in revenue, REGARDLESS OF THE TAX RATES.
What that means is they cannot legislate their way to higher tax revenue, not effectively or efficiently anyway, as Americans can and most certainly will change their financial behaviors in order to be somewhere near that 17%.
This gives government exactly three choices for dealing with debt, under a model where they use revenue to pay cost:
Grow the GDP
Lower spending
Combo of 1 & 2.
That's it, that's all.
MMT says (correctly) currency sovereigns need no revenue to pay bills, nor do they really have debt as we typically think of it. But if we are adhering to old "tax and spend" rules about budget balancing and all that, then the above three choices are all you get for how government can deal with debt. Period. Tax rates, for all you fans of punishing citizens for the accounting sins of their government, won't matter. 70+ years of history tells that tale.
Yep. Fed Gov is going to run out of OPM (other people's money).
Now add this on top of the impending interest on the national debt crisis...
Women on public assistance, as a group, have a 3 times higher birth rate than women and their partners who financially support themselves and their children. 3 to 1 birth rate. 3 to 1, public assistance-dependent to self-supporting (source: US Census Bureau's analysis). Now think about how compounding that via population growth will create an exponentially growing welfare-dependent class while the self-supporting population doesn't grow nearly as fast.
Did you ever do the Bio 101 experiment where a microorganism was introduced into a petri dish with a nutrient medium? Everything hums along fine for a while. But then the microorganism overpopulates the dish, what with being fed and all, exhausts the nutrient medium, is not able to produce/procure its own food, and then the organisms begin dying off until the dish population is extinct.
Welcome to our future.
This is how Agent Smith described the human race in "The Matrix".
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