Is the U.S. Fiscal Situation Dangerous and Unsustainable?
This year’s deficit pours more gasoline on an already raging fiscal fire. The good news is there is still time to change course and avert a debt crisis.
The first opportunity to initiate reforms is the release of the president’s fiscal year 2021 budget next week. The president’s first three budgets pledged to cut spending and fundamentally reform the role of the federal government. President Trump must continue to push for bolder reforms that focus the responsibilities of national government back to its constitutional roots.
Current and future generations cannot afford for Washington’s reckless pattern of spending to continue.
Learn more: https://www.heritage.org/debt/commentary/23-trillion-the-us-national-debt-already-exceeds-the-size-the-us-economy
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Spending is and has been out of control for a long while. The only question is when we reach the tipping point and it all crashes along with our way of life. The current situation is unsustainable long-term. I have come to accept that it's not fixable or resolvable. Too many would have to sacrifice too much and I don't see the country would accept that type of sacrifice at this time. We are not the WW2 generation.
Tremendous overspending. What do we want to do? Consider only about half are paying federal tax, some get refunds who don't pay (earned income tax credit)
Incredible military spending. People not paying enough into SSI and medicare for the amount collected. Cow fart studies, people collecting lifetime welfare claiming they are too disabled to work, free health insurance… the list goes on. Cutting anything is immediate political suicide.
Raising taxes is political suicide. The politicians are only following taxpayer demands.
Fuck the rebublicans
When determining the sustainability of total debt many factors need to be considered. National GDP, total net worth as a nation, our ability to pay our debts, and overall economic potential in the long term. All of these factors serve to counter balance any debt we may owe; the majority of which is owed to the US federal reserve.
For those that want to blame Trump, you CAN'T. The dept was 6 trillion when Bush Jr left office. When Obama left office, the dept had DOUBLED to nearly almost 12 trillion. I looked it up on Google. What is sad though, our Government in Washington is TOO BIG generally. I think the job could get done with less people in all 3 branches. It's the Republicans and Democrats fault for not budgeting & cutting back through the years!
Congress controls the purse string of the government .
The debt is corruptly created by the central banking system which Pres Trump is in the process of demolishing. He knows what he doing to save America
Do you think federal spending is out of control?