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   alt.politics.economics      "Its the economy, stupid"      345,374 messages   

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   Message 344,823 of 345,374   
   Scout to Mitchell Holman   
   Re: U.S. Debt on Pace to Top $56 Trillio   
   28 Jun 24 14:47:56   
   
   XPost: alt.fan.rush-limbaugh, alt.home.repair, sac.politics   
   XPost: talk.politics.guns   
   From: me4guns@verizon.removeme.this2.nospam.net   
      
   "Mitchell Holman"  wrote in message   
   news:XnsB19F8361BA6D6629555@185.151.15.190...   
   > "Scout"  wrote in   
   > news:v5me8p$3c0pu$5@dont-email.me:   
   >   
   >>   
   >>   
   >> "Mitchell Holman"  wrote in message   
   >> news:XnsB19ED3A7A17DF629555@185.151.15.190...   
   >>> "Scout"  wrote in   
   >>> news:v5kcka$2sa7s$2@dont-email.me:   
   >>>   
   >>>>   
   >>>>   
   >>>> "Mitchell Holman"  wrote in message   
   >>>> news:XnsB19E83E9B41B1629555@185.151.15.160...   
   >>>>> "Scout"  wrote in   
   >>>>> news:v5jpje$2omg6$9@dont-email.me:   
   >>>>>   
   >>>>>>   
   >>>>>>   
   >>>>>> "Mitchell Holman"  wrote in message   
   >>>>>> news:XnsB19DD22BB3734629555@185.151.15.190...   
   >>>>>>> "Scout"  wrote in   
   >>>>>>> news:v5hp6h$29muh$4@dont-email.me:   
   >>>>>>>   
   >>>>>>>>   
   >>>>>>>>   
   >>>>>>>> "Mitchell Holman"  wrote in message   
   >>>>>>>> news:XnsB19654CAE594D629555@185.151.15.160...   
   >>>>>>>>> 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.   
   >>>>>>>>   
   >>>>>>>> Well.... we've tried raising taxes, more borrowing and strong   
   >>>>>>>> enforcement of the tax laws.. and all it's gotten us is larger   
   >>>>>>>> debt.   
   >>>>>>>>   
   >>>>>>>> Here's an idea... if politicians spend more than 95% of the   
   >>>>>>>> revenue.. (remaining 5% to pay down national debt) they can't   
   >>>>>>>> hold public office.   
   >>>>>>>   
   >>>>>>>   
   >>>>>>>     And if a politician doesn't   
   >>>>>>> abide by your litmus test what   
   >>>>>>> then? Impeach them? Using what   
   >>>>>>> "high crime or misdemeanor"?   
   >>>>>>   
   >>>>>> Well, whether they remain in office could be decided by a vote in   
   >>>>>> their district.   
   >>>>>   
   >>>>>   
   >>>>>     So a recall election every time   
   >>>>> a Congressman votes for a spending   
   >>>>> bill?   
   >>>>   
   >>>> If it's over budget.. sure.   
   >>>>   
   >>>   
   >>>   
   >>>     So every Tuesday all businesses   
   >>> will have to close so voters can go   
   >>> vote on a spending bill?   
   >>   
   >> If the federal government goes into the red every Tuesday.. yea.   
   >   
   >   
   >   
   >     That is insane.   
      
   Yes, deficit spending is insane.   
      
   >   
   >     And if no voters show up to vote   
   > on federal budget outlays what then?   
      
   Then it's a no confidence vote and those who voted for the extra spending   
   are removed from office.   
      
   >> Bet by the end of the month, there would be some changes in   
   >> representation and spending.....   
   >   
   >   
   >   Politicians could care less what the   
   > voters think about issues.   
      
   Which is EXACTLY the problem, and what needs to be fixed.   
      
   Thank you for your admission that there needs to be a means to directly and   
   immediately hole politicians accountable.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)   

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