Debt

[stevenash]

The CBO has projected that that Social Security costs will rise in cost by 77% during the next decade.  The rise for Medicaid will be 89%.  During that period, the bill for paying interest on the accumulating national debt will MORE than triple.  Any of you lefties concerned with the debt level?

[smitty]

The CBO has projected that that Social Security costs will rise in cost by 77% during the next decade.  The rise for Medicaid will be 89%.  During that period, the bill for paying interest on the accumulating national debt will MORE than triple.  Any of you lefties concerned with the debt level?

Steve, this is why they MUST keep interest rates low.  If they allow them to rise like they should, then the debt would really explode.  But anyway, all government programs are bankrupt or about to be.  Again, the dirty little secret is that the debt is not what is officially stated by the government.  The amount of unfunded liabilities (debt) is over 100 TRILLION DOLLARS...

[Big girl]

What will our deficit be?

[stevenash]

BIg Girl-  I appreciate the fact that you want to keep talking about the deficit because it has come down in recent years.  However, once again, if you owe your creditors 1 million dollars and it is increasing each year by a minimum of 60,000 in interest, it doesn't matter very much that you earn 100,000 per year and are spending 140,000 as compared to earning 100,000 and spending 180,000.  IN that case, you can say you cut your deficit by 50%, but you are still headed in the wrong direction.

[stevenash]

I will always be concerned about the debt.   However, at this moment in time, it is not as important as getting kids back in school and people back to work.

[NetCat]

Knock the dust off this thing! 

[SmashMouth]

21 minutes ago, DonTheCon2k20 said:

Except for 2017..2018..2019..

 

All the billion topics from you and Smitty  about deficits, debt, the “real unemployment”, etc suddenly vanished. Golly gee shucks I wonder why!

You ever seen “Pootie Tang” the movie?