Thursday, June 20, 2024

The US Debt/Deficit Problem Is Extreme

Your go-along-to-get-along Republican congress-critter voted for a budget which has gone wildly out of control.

That's because the ex-Speaker McCarthy's Congressional Budget Office lied like Hell about the built-in deficit in McCarthy's bill--and trust us, McCarthy and several other slimebuckets knew exactly what they were doing.

We will cite Breitbart here, but recall that Breitbart's business/economy coverage has always been optimistic.

The (more-or-less) nonpartisan Congressional Budget Office (CBO) upwardly altered their projection for this year’s federal budget deficit by $400 billion on Tuesday. This brings the deficit forecast to $1.92 trillion for the year and marks a 27 percent increase compared to the CBO’s original estimate from the beginning of the year.

The major drivers of the shift, according to the report, are military aid to places like Ukraine and Israel as well as domestic spending on student loan forgiveness and Medicaid and the federal government’s failure to recover payments from last year’s banking crisis....

Twenty-seven percent off?  Twenty-seven percent?

McCarthy (and his spineless successor Johnson) knew about Ukraine and Israel gifts long before they were "proposed."  The student-loan deals are zits on the back of the elephant--albeit illegal and un-planned--and a 'failure to recover' means the Feds are playing footsie with bankers (surprise) instead of prosecuting them.

Call and kick your Congressman in the ass.

1 comment:

Anonymous said...

It was extreme for the Weimar Republic too!

Greg