The Bankrupting of America

What takes place when you invest money you do not have? Everybody understands the response to that concern. What takes place when the federal government does it on an extraordinary scale? Sooner or later, all debts need to be paid back. The question is, who’s going to bear the cost? Economist Stephen Moore has the response.

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Script:

INT. HOSPITAL ROOM– DAY.

Sitting up in bed, Mom holds her valuable brand-new child in her arms. Along with her, Dad beams with pride.

GOVT DEBT COLLECTOR (VO).

I’m here to gather your $600,000 share of the national debt!

The Government Debt Collector, dressed in a black suit, stands in the doorway.

Mommy turns white with horror..

DAD.

” What! We don’t have $600,000!.

GOVT DEBT COLLECTOR.

I wasn’t talking to you. I was speaking with your child.

He reaches over and tags the child’s tiny little toe with $600,000 IOU..

GOVT DEBT COLLECTOR.

Have a great life..

Open mouthed, Mom, Dad, Nurse, Doctor and finally Baby view him leave.

INT. Maternity Ward.

See the child with a toe tag.
–.

SPEAKER SEGMENT:.

This isn’t a fabricated horror story. It’s genuine. It is the unsettled credit card expense our kids and our grandkids are facing– cash they didn’t spend however will need to pay..

The Democrats point their finger at the Republicans. The Republicans point back at the Democrats. The reality is that the politicians of both parties have brought us to the edge of this financial cliff..

They state they’re spending all this money with the best of intentions: the trillions are needed to end cravings and reduce inequality; supply everybody with totally free health care; and save the planet from worldwide warming.

There is no method around the simple mathematics. You can’t spend what you do not have– not forever. Debts have to be paid back.

We’ve been sweeping this problem under the proverbial rug for decades, now we’re running out of carpet..

Throughout the year of the Covid crisis, a Republican president, Donald Trump, approved an enormous increase in federal government spending. His thinking went like this: We shut down the economy. We need to assist people out..

Did he go too far? Maybe, but practically everybody agreed something needed to be done..

Joe Biden, a Democrat president, got in the White House and called for $1.9 trillion in additional spending– even though one trillion of the previous Covid relief money had not yet been spent, and even though the economy was already well on the method to recovering..

The brand-new President quickly asked for another $1.1 trillion for “facilities”, which utilized to imply tasks like roads, bridges, and airports, but now includes giveaways like electrical vehicle charging stations for Tesla owners. By the way, 19 Republican Senators signed up with the Democrats. Nobody is blameless..

Wait– that just turned out to be President Biden’s opening quote. He put another $3.5 trillion in costs on the table for a great deal of goodies: free child-care, complimentary neighborhood college, trainee loan forgiveness, broadened Medicare and Medicaid, large aids for “green” innovation, and on and on..

Include all this extra spending and you come to $6 trillion dollars. Yes, that’s a six with 12 zeroes after it..

This is a level of costs we have actually never ever seen..

The numbers are so big, it’s difficult to grasp. To use a little viewpoint consider this..

$ 6 trillion is more cash (adjusted for inflation) than we spent on The Revolutionary War, the Civil War, World War I, World War II, the Louisiana Purchase, the Transcontinental Railroad, the Interstate highway system, and the Moon Landing combined..

Typically, we obtain money as a nation throughout a period of crisis. When the crisis ends, we begin to pay down the financial obligation.

What the Progressive Left wishes to do is launch the greatest spending spree in American history– after the crisis is over!.

What’s looming ahead, however, is a new crisis: a nuclear-sized financial obligation bomb. Our multi-trillion dollar nationwide debt was bad enough before all this proposed spending.

For the total script along with FACTS & SOURCES, visit https://www.prageru.com/video/the-bankrupting-of-america.

source

What takes place when you spend money you don’t have? Sooner or later on, all debts have to be paid back. Financial obligations have to be paid back.

Throughout the year of the Covid crisis, a Republican president, Donald Trump, authorized an enormous increase in federal government spending. The brand-new President quickly asked for another $1.1 trillion for “facilities”, which utilized to imply jobs like roads, bridges, and airports, but now consists of free gifts like electric car charging stations for Tesla owners.