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

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   Message 344,908 of 345,374   
   Scout to Mitchell Holman   
   Re: U.S. Debt on Pace to Top $56 Trillio   
   01 Jul 24 07:15:58   
   
   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:XnsB1A1653B92DD3629555@185.151.15.160...   
   > "Scout"  wrote in   
   > news:v5rr7h$ig9m$2@dont-email.me:   
   >   
   >>   
   >>   
   >> "Mitchell Holman"  wrote in message   
   >> news:XnsB1A0881F6E2D1629555@185.151.15.160...   
   >>> "Scout"  wrote in   
   >>> news:v5osks $3tii3$2@dont-email.me:   
   >>>   
   >>>>   
   >>>>   
   >>>> "Mitchell Holman"  wrote in message   
   >>>> news:XnsB19FD20C6F172629555@185.151.15.160...   
   >>>>> "Scout"  wrote in   
   >>>>> news:v5n154$3ffob$1@dont-email.me:   
   >>>>>   
   >>>>>>   
   >>>>>>   
   >>>>>> "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.   
   >>>>>>   
   >>>>>   
   >>>>>     And who does this removing?   
   >>>>   
   >>>> The people..   
   >>>   
   >>>   
   >>>       Show us where that has ever happened.   
   >>   
   >> 1776 seems to ring a bell..   
   >   
   >   
   >        That removed no one from Congress.   
      
   Sure it did.   
      
   >>  Writing the current Constitution to   
   >> replace the articles of Confederation is another.   
   >   
   >   
   >        That removed no one from Congress.   
      
   It removed everyone in Congress under the Articles of Confederation, as that   
   Congress ceased to exist.   
      
   Point, Set. Match.   
      
   Meanwhile let me acknowledge your ignorance of American history and why you   
   will never be able to make valid arguments about it.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)   

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