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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsNational debt tops $22 trillion for the first time as experts warn of ripple effects
https://www.usatoday.com/story/news/politics/2019/02/12/national-debt-tops-22-trillion-first-time-ever/2849978002/<snip>
The national debt surpassed $22 trillion for the first time on Tuesday, a milestone that experts warned is further proof the country is on an unsustainable financial path that could jeopardize the economic security of every American.
The Treasury Department reported the debt hit $22.012 trillion, a jump of more than $30 billion in just this month.
The national debt has been rising at a faster rate following the passage of President Donald Trumps $1.5 trillion tax-cut package a little more than a year ago and as the result of congressional efforts to increase spending on domestic and military programs. The nation has added more than $1 trillion in debt in the last 11 months alone.
Reaching this unfortunate milestone so rapidly is the latest sign that our fiscal situation is not only unsustainable but accelerating, said Michael A. Peterson, chief executive officer of the Peter G. Peterson Foundation, a nonpartisan organization working to address the countrys long-term fiscal challenges.
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The Con has had bigly success at running up debt - that's his only area of success for his ntire life He is in the process of destroying the US economy with help from ReTHUGs
Achilleaze
(15,543 posts)Why do republicans lie and claim to be 'conservatives' when they are really radical rip-off skuzzbags.
Va Lefty
(6,252 posts)gratuitous
(82,849 posts)Their water carriers in the media have simultaneously lost the phone numbers of their reliable yammerers. Watch this news vanish from the news cycle without leaving a trace.
malaise
(269,182 posts)The silence is deafening. Now to steal some more from those who have the least.
nd remember any attempt to tax the wealthy is socialism.
Wellstone ruled
(34,661 posts)I and a few others here were warning of this happening more than a year ago.
Simple Mathematics proved our point. But,everyone loves his or her Tax Breaks without bothering to read the friggen details.
malaise
(269,182 posts)The tax breaks were for the chosen few - people love a Con.
Wellstone ruled
(34,661 posts)spun this as the best thing since sliced white bread. But,hey,until bad legislation creates bad outcomes,nothing changes . Well,we are seeing the bad outcomes and if our Dems do not use these outcomes to their Political Advantage,we deserve what that out come brings.
Interesting little tid bit,notice how Retail America is not using the Tax Refund Scam to sell their garbage this year.
Eight years of working part time DIY store,my mid January Store Signage Project was to hang all use your Tax Refunds to buy this Appliance or that Power Drill or replace those Windows and Doors as well as those new Floors in Store Advertising PR things. Happened to be in the Firms Store yesterday and asked the Store Manager about where is his Tax Refund Promo stuff was,answer was guess we aren't doing it this year.
malaise
(269,182 posts)So now basic social good policies will be socialism
Wellstone ruled
(34,661 posts)the Desert South west. Solar Panels for your home,okay I am all for free Solar Panels on every friggin house in the Southwest Deserts Communities. Here is how this Scam works,you pledge your Tax Refund as a payment in kind for those so called Free So.lar Panels. It is in fact a payment on the Loan that underwrites the price of those Panels.
Guess what,no refund,well whooby,you have to cut a check to keep those so called Free Solar Panels Free .
roamer65
(36,747 posts)Deficits dont matter.
suffragette
(12,232 posts)Trumps tax cuts for wealthy and military spending.
But the so-called experts named are all part of the crew who have been trying to push cuts and privatizing Social Security and Medicare as the solution. They are the ones Howard Schultz has been listening to when he says he wants to go after entitlements to lower the debt. He is their candidate.
Igel
(35,359 posts)The deficit was projected to increase at an accelerating rate.
The tax cut increased the acceleration. A change in acceleration is "jerk".
The $1 trillion/year deficit mark wasn't supposed to be reached for a couple of years. But it was certainly predicted to be reached fairly soon.
lpbk2713
(42,766 posts)We'll be lucky if we survive the next two years.