THIS IS A STORY THAT DID NOT MAKE THE NATIONAL HEADLINES, AND IT SHOULD. INSTEAD WE HEARD ABOUT THE TWITTER BANTER BETWEEN DIFFERENT POLITICIANS, HOLLYWOOD CELEBRITIES, AND OPINION PUNDITS WHO CAMOUFLAGE THEMSELVES AS JOURNALISTS.
Our national debt now exceeds $22 trillion and it is growing. Our national debt has been declared to be a threat to our national security. The national debt continues to grow despite increasing revenue from taxes. In 2014 the United States Treasury collected an estimated $2,849,000,000. In 2018 the United States Treasury collected an estimated $3,752,000,000 from tax revenue. The 2018 number includes the Trump tax cuts, which resulted in greater income to the United States Treasury. Of course, this happens every time there is a substantial tax cut because of the increased revenues in business and increased personal income. When the Marxist/Progressives (Democrats) claim a tax cut to the American public costs the United States Treasury income, it is a lie.
The Gross Domestic Product for 2018 is estimated to be $20.1 trillion. This is an increase of approximately $3 trillion dollars in the last 3 years. Despite the GDP growth and tax revenue growth the national debt continues to grow. This is because the spending continues to grow at an incredible pace. The requested budget by the Paul Ryan House, remember Ryan, the conservative budget guru which is a laugh out loud, was in excess of $4, 000,000,000,000. You do the math.
One per cent of $22,000,000,000,000 is $222,000,000,000; or one per cent of $22 trillion is $220 billion. That means that two per cent of $22 trillion is $440 billion. The rate on the ten-year treasury note in January 0f 2015 was 1.88%. The rate on the ten-year treasury note in January of 2019 was 2.71%. The rate on the one-year treasury bill in January of 2015 was 0.2%. The rate on the one-year treasury bill in January of 2019 was 2.58%. Because of the great economic conditions due to lower tax rates and less regulation, the projection is for that rate to go higher.
Our national expenditures will continue to grow because of increased interest cost and because of irresponsible government spending, waste, and fraud; and because NOBODY CARES. What we are seeing in Venezuela and we have seen in other countries such as Greece in the 1940’s, Germany in the 1920’s, and over 55 times in recent history, hyperinflation that devastates economies, countries, and families is the result. And yet, NOBODY CARES. When we hear that people deserve to receive more and more free stuff with more and more government spending, including such irresponsible claims that the world will end in 12 years unless we bankrupt ourselves to fight some imagined crisis as Global Warning. Global warning is a false narrative perpetrated by the Marxists and Globalists, (collectivists) in their effort to punish what they call imperialist nations and people, primarily the United States, and reward those they call oppressed nations and people. The sad thing is that it seems to be working. IF YOU TELL A BIG ENOUGH LIE OFTEN ENOUGH IT WILL BECOME FACT.
We the people must show the deserved outrage toward the irresponsibility of those in government who totally disregard the NATIONAL DEBT that always ends in social devastation and financial collapse along with their climb on the bandwagon irresponsible claims about GLOBAL CHANGE, by electing reasonable and responsible people to congress.
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