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America is now almost $35 trillion in debt. John Stossel writes the government is „spending so much that they’re increasing our debt by a trillion dollars every 100 days.“
I don’t give a crap which party is at „fault.“ Fault is silly when you’re looking at the catastrophe on the horizon. When the entire rickety economic structure of kite string, chewing gum, and duct tape comes crashing down on our heads, what will it matter who’s to blame? Aside from the selfish personal satisfaction one party or the other will feel, there can be no sense of triumph or relief. The grim reality of worthless money and destroyed bank accounts along with the destruction of lives is a nightmare.
And that day is approaching.
The Congressional Budget Office released an update on its projections for the budget deficit and with it, an update on the projected national debt.
The federal budget deficit will hit $1.9 trillion this fiscal year, according to an updated projection released Tuesday by the Congressional Budget Office. That’s 27% – or $400 billion – larger than the agency estimated in February.
Looking longer term, the nation’s debt will approach $57 trillion in fiscal year 2034, nearly $2.
