#national debt
With Plenty Of GOP Help, Senate Shoots Down Rand Paul’s Balanced-Budget Resolution | ZeroHedge
We’re $31 trillion dollars in debt with $170 trillion in medicare, social security, and federal and va retirement obligations we can’t pay for and we can’t even get Republicans on board with cutting 6 pennies out of ever federal dollar spent?
You won’t be surprised to learn Cornyn, Graham, and McConnell and 14 others voted against Paul’s bill. Equally as unsurprising? Not a single democrat voted to rein in spending. I’m old enough to remember when Republicans were fiscal conservatives. Modern Republicans have turned into 70’s democrats and, God help us, democrats have turned into red eyed communists.
Here’s an important tidbit in case you missed it.
Under the Congressional Budget Office’s (CBO) latest budgetary baseline, interest payments on the debt are expected to triple between now and 2032.
Last year the interest payments on our $30 trillion national debt totaled $562 billion. I wonder what could we do with $562 billion? In 10 years, assuming not one new red cent is added to our national debt - I know, I know, I’m laughing too - the interest payments on the national debt will be $1.7 trillion.
That would make just our INTEREST payments more than the GDP of Italy, Canada, Russia, South Korea, Australia, Spain, Mexico or Indonesia. The interest would be more than the GDP of the Netherlands, Switzerland, and Sweden COMBINED.
Something needs to change, and change yesterday. Here are the numbers again. Do the thing and make some noise.
Federal Elected Officials
- Contact President Joe Biden online, or call the White House switchboard at 202-456-1414 or the comments line at 202-456-1111 during business hours.
- Locate your U.S. senators’ contact information.
- Find your U.S. representative’s website and contact information.