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(U.S. Congress) USofA - Trillion-dollar deficits for years to come
26.Sep.2019
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U.S. Congress: In August 2019, the Congressional Budget Office (CBO) released a grim update to its economic outlook for the next decade, predicting average national deficits of $1.2 trillion every year through 2029, due in large part to recent budget and border security bills. The CBO report noted that, as one of many repercussions from free-spending policies, federal debt held by the public is projected to reach heights not seen since the 1940s, almost equaling the nation's Gross Domestic Product. This could lead to the devaluation of the Dollar, financial panic in the USA and around the world. Never have politicians been so irresponsible on such a large scale. At the same time, the government has been equally irresponsible in forming sound energy policies. Energy is the only real currency. Others are just paper backed by the word of the government.

The U.S. Congress is the most irresponsible institution in the world. In 1981, the national debt was about one trillion dollars. That is after 200 years of history and fighting more than 11 major wars. Less than 40 years later the Congress has spent another 21 trillion dollars it didn't have. The numbers are staggering and completely irresponsible. For an electric counter to count to one trillion at the speed of a fast counting human would take about 32,000 years. The American national debt is a disgrace and will eventually lead to financial crises. All so politicians can stay in office and keep the voters happy. The U.S. Congress is the most irresponsible institution in the world. In 1981, the national debt was about one trillion dollars. That is after 200 years of history and fighting more than 11 major wars. Less than 40 years later the Congress has spent another 21 trillion dollars it didn't have. The numbers are staggering and completely irresponsible. For an electric counter to count to one trillion at the speed of a fast counting human would take about 32,000 years. The American national debt is a disgrace and will eventually lead to financial crises. All so politicians can stay in office and keep the voters happy.
Read 363 times Last modified on Thursday, 05 March 2020 09:38
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