It has just come to my attention, and I’ve never even heard about any of this before, that there is something called the “federal debt.” I know, I was as surprised as anyone. And, they, being the Congressional “Budget” Office, say that it is nearing unsustainable levels.
Federal debt is nearing “unsustainable” levels, but low interest rates have created a window of opportunity for policy-makers to rein it in, the Congressional Budget Office said Monday, delivering a mixed outlook for the government’s long-term outlook.
Federal spending, currently 21% of gross domestic product, will rise to 31% by 2050, with most of that increase coming from interest payments on the rising debt, said Phillip J. Swagel, CBO’s director. Federal revenue, meanwhile, stood at just 16% of GDP last year, and will only reach 19% by 2050.
The gap between those spending and revenue numbers illustrates the problem.
Those numbers, and all the others cited in the article, are a load of BS. We’re not nearing unsustainability – we’ve been there. We are nearing the point of terminal collapse, which at this late hour, is all but unavoidable. The funny thing is the forecast way out to 2050; the odds of the US existing then in its current form are about 27,000,000,000,000 to 1, AGAINST. The only good news here is that my prediction of a $40T debt by 2024 is rolling right along towards fruition.
This is part and parcel with the financial sorcery that has eaten the core out of our economy and society. Remember Fantasia? The Congress-Fed alliance is like Apprentice Mickey turning on the debt instead of the water well. Now, there is no way, short of the intervention by a benevolent sorcerer (who does not exist), to shut it off; we’re drowning in debt. We even have Antifa-BLM marching around mindlessly like those broom and bucket automatons.
We’re going to get a Jubilee one way or another, it’s just a matter of how violent the circumstances of the arrival will be. We’ll find out, probably around the time the CBO (now) says the trust funds (that don’t exist) will dry up.
Could we get some dancing hippos?