"But who cares? Who cares about the facts? Biden? Congress? Anyone in Washington? The Deficit Hawks have gone the way of the Dodo bird. Spend, spend, spend. When the money runs out, we will just print some more."
Biden's latest thing to "give us", is his Moonshot program to reduce the cost of having cancer. It sounds very admirable, as cancer is still a major killer in this country. But guess what? Our war on cancer has been going very well as of late. I mean, we are not close to having a cure for all cancers, but there are vaccines in trials right now, aimed at preventing or fighting certain cancers. And some of the new vaccines use the very controversial mRNA technology.
Again, I believe the sooner the better to ridding the world of all types of cancers. That being said, is there going to be a price tag on this Moonshot? Or is this yet one more thing that Biden will use monopoly money on?
It was reported on the news yesterday, that the gapping wound called "student loan forgiveness". How much will this cost us (the taxpayers)? Depends on whom you ask. If you ask the liars in the administration, they will tell you zero. After all, the fictitious Inflation Reduction Act (IRA), was going to SAVE us money. And that fictional amount which we would have saved, would be eaten up by the student loan forgiveness fiasco almost immediately.
Anyone check out our National Debt Clock as of late? I confess - it has been a while for me. But I looked at it today. Our debt is approaching 31 trillion dollars. Wowsie! Hold on - it gets worse. The total of ALL unfunded liabilities we have right now, is $171.5 trillion dollars. What does that mean? If we taxed every citizen in the United States 100% of what they make and own, we could get $100 trillion. That would still leave us over $70 trillion short on making good on our unfunded liabilities. I guess if we had a credit rating issued by one of the three credit bureaus, it might be in the 100's - if we were lucky.
But who cares? Who cares about the facts? Biden? Congress? Anyone in Washington? The Deficit Hawks have gone the way of the Dodo bird. Spend, spend, spend. When the money runs out, we will just print some more. If the Fed really wanted to be the Fed, they would be raising interest rates by one full point every month until this madness stops.
It seems the only thing the right and left can agree upon these days is spending money we don't have. There is no fiscal sanity anymore. No stewardship of our funds. Only reckless and criminal spending. They should all be put in jail.
Check your math. To pay off $100T of debt, you would need a 100% tax rate for 5 years! During that time, nobody could buy food, gas, or even pay state and local taxes! Not sure that is the right answer?
ReplyDelete