XPost: alt.fan.rush-limbaugh, alt.home.repair, sac.politics
XPost: talk.politics.guns
From: me4guns@verizon.removeme.this2.nospam.net
"Yak" wrote in message news:v4unt8$20goi$1@dont-email.me...
> On 6/19/2024 9:23 AM, Mitchell Holman wrote:
>> Thank Joe Biden Democrats wrote in
>> news:5af043f071b0068d25570d415a641a89@dizum.com:
>>
>>> The United States is on a pace to add trillions of dollars to its
>>> national debt over the next decade, borrowing money more quickly than
>>> previously expected, at a time when big legislative fights loom over
>>> taxes and spending.
>>>
>>> The Congressional Budget Office said on Tuesday that the U.S. national
>>> debt is poised to top $56 trillion by 2034, as rising spending and
>>> interest expenses outpace tax revenues. The mounting costs of Social
>>> Security and Medicare continue to weigh on the nation’s finances,
>>> along with rising interest rates, which have made it more costly for
>>> the federal government to borrow huge sums of money.
>>>
>>> As a result, the United States is expected to continue running large
>>> budget deficits, which are the gap between what America spends and
>>> what it receives through taxes and other revenue. The budget deficit
>>> in 2024 is projected to be $1.9 trillion, up from a forecast earlier
>>> this year of $1.6 trillion. Over the next 10 years, the annual deficit
>>> is projected to swell to $2.9 trillion. As a share of the economy,
>>> debt held by the public in 2034 will be 122 percent of gross domestic
>>> product, up from 99 percent in 2024.
>>
>>
>> And the cure for that is more tax cuts,
>> more borrowing, and less enforcement of tax
>> laws. Right.
>
> Here's a radical thought...now, just hear me out. How about cut spending?
Ding! Ding! Ding!
We have a winner.
Spending less than revenue is the means by which debt is eliminated.
--- SoupGate-Win32 v1.05
* Origin: you cannot sedate... all the things you hate (1:229/2)
|
