The U.S. national debt surpassed $34 trillion this week, marking a grim milestone as federal debt continues to rise at a record pace under persistent annual deficits, according to the Treasury Department.
The simple fact of the matter is the debt ceiling is arbitrary, and a political tool to be brought out when convenient so Republicans can say, “We’re spending too much!” Yet as soon as they get into office, they cut taxes and increase spending. The thing is we have more than enough sovereign wealth to pay our debts, and will continue to do so as long as our GDP continues to grow. The debt ceiling is a straw man and the ceiling is made of glass.
Why wasn’t the Debt an issue when Trump was giving Free Money to rich people?
The simple fact of the matter is the debt ceiling is arbitrary, and a political tool to be brought out when convenient so Republicans can say, “We’re spending too much!” Yet as soon as they get into office, they cut taxes and increase spending. The thing is we have more than enough sovereign wealth to pay our debts, and will continue to do so as long as our GDP continues to grow. The debt ceiling is a straw man and the ceiling is made of glass.
We don’t have enough wealth to pay our debts, and haven’t in so long that I suspect all of our debtors have long since given up on being paid back.