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He stood up and chastised his own party for creating a budget which increased spending by 21%, and he stood up again the next year and gave another speech about the same hypocrisy.
Some lines from his speeches:
"The hypocrisy hangs in the air"
"When GOP is in power, there is no conservative party in US"
"Isn't this the very definition of intellectual dishonesty and hypocrisy"?
“On page 207. 2000+ pages to go! Reading about the ever wasteful $6 billion National Science Foundation.”
Sarcastically: “I found a kernel of hope: ‘no funds in this act will be used to support or justify torture.’ “
Deficits and debt obviously do not matter. We have been hearing this same talk over and over and nothing ever happens. The Nasdaq is at record highs today and that is all that matters. Clearly a sign that things are not as bad as everyone says.
Our national debt hasn't been an issue for me since I started learning about modern money about 15 years ago, reading some of Warren Mosler's early stuff. His primer and soft currency economics.
Here is the bad news for you. We MUST GENERATE DEBT every year to maintain our circulating currency. Read about how money is created in the US. Every dollar in your wallet is generated by debt.
If we "balance the budget", it would precipitate a recession or depression. That is a sad fact that essentially no one knows about.
Our cumulative debt and our annual deficits will continue until disaster ensues. It is just a matter of time. So far, the amount of money needed to service the debt (pay interest) has not been crippling...……………………………… yet.
Here is the bad news for you. We MUST GENERATE DEBT every year to maintain our circulating currency. Read about how money is created in the US. Every dollar in your wallet is generated by debt.
If we "balance the budget", it would precipitate a recession or depression. That is a sad fact that essentially no one knows about.
No, the budget can be balanced, but all of the debt cannot be paid off. Not that it would even make sense to pay it all off, since much of it is owed back the citizens and they will be paid when the time comes (SS).
Quote:
Our cumulative debt and our annual deficits will continue until disaster ensues. It is just a matter of time. So far, the amount of money needed to service the debt (pay interest) has not been crippling...……………………………… yet.
Debt to GDP ratio is increasing under Trump, and it was 107% the 1st Qt 2020, and I can only imagine what it is now that he burned $4 trillion in hand outs.
Yes, I supportd Ron Paul, and Ross Perot too. I thought Ron Paul was a little out there though. He took the global isolationism too far for me. I like Trumps stance on globalism, but he's just anotehr 'Uge spender now.
Rand seems much more grounded than Ron was. I like how Rand votes "no" on nearly all spending bills. Him & Massie are 2 outcasts in DC. They are good family men too, which makes them even weirder in DC.
Even politically active people like we have here don't care about the spending, so getting the average working Joe to care is impossible....until the chit hits the fan, which is not far off.
Ron Paul is not an isolationist he is a non-interventionist.
Trump has done nothing to decrease the national debt. The national debt has increased under Trump.
Trumps whole life has been debt. Bankruptcy multiple times. Is that where Trump is aiming the USA ?
The nation cannot go bankrupt like a person or business. But Trump does know debt. And along with Mnuchin and the Fed is moving very rapidly towards the more full use of modern money in countering the Covid 19 disaster.
It does not surprise me that his base hasn't been so vocal in opposition.
I defy you to find 1 person in Washington DC who would be more likely to stop the wreckless spending.
Thomas Massie is another, but he doesn't have the name recognition of Rand Paul, so he's #2.
These are the only 2 Congressman in Washington DC out of 535, to vote NO to all the Covid-19 "stimulus" spending.
If you put EVERY other issue aside, & put 100% of your vote into stopping the wreckless spending, there is no better choice.
Why should you put every other issue aside?
Because in the next 4.5 yrs, interest payments on our national debt will overtake defense spending. Interest will threaten national security.
Also, interest was $600B in 2019. We spent $1,044B on Social Security in 2019. Interest is growing faster. Interest will threaten SS.
By the end of this decade, interest on the debt will eclipse social security spending too.
To put it another way, in 2029 if we had no interest, we could DOUBLE all SSecurity payments, so people could live off SS (in many places).
Rand Paul & Thomas Massie would have 533 Congresspersons fighting them every step of the way, so some of them must go too.
How, and/or where to cut the budget is another topic. Please start another thread to discuss that.
This topic is about putting spending 1st, & finding the best leader to make it so.
The deficit never scores very high among voter priorities.
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