Recently, The Daily Beast reported that when President Trump was briefed early last year about the future consequences of the federal debt, he replied bluntly, "Yeah, but I won't be here."
Trump is hardly alone in his disregard for our looming debt crisis; with characteristic pithiness, his dismissive response expressed the basic attitude of most Washington lawmakers.
Anything done today to fix the problem - raising taxes, cutting spending, reforming entitlements, etc.
The federal debt will double as a percentage of the economy within the next 30 years.
Within the next 75 years, the debt could exceed a phenomenal 600 percent of GDP, according to the Committee for a Responsible Federal Budget.
Interest on the debt is already the fastest-growing portion of the federal budget, and as interest rates begin to rise, it will skyrocket even faster.
The dirty little secret of Washington is that very few lawmakers actually care about the deficit or the debt.
https://www.nationalreview.com/2018/12/federal-debt-crisis-washington-short-term-thinking/
Trump is hardly alone in his disregard for our looming debt crisis; with characteristic pithiness, his dismissive response expressed the basic attitude of most Washington lawmakers.
Anything done today to fix the problem - raising taxes, cutting spending, reforming entitlements, etc.
The federal debt will double as a percentage of the economy within the next 30 years.
Within the next 75 years, the debt could exceed a phenomenal 600 percent of GDP, according to the Committee for a Responsible Federal Budget.
Interest on the debt is already the fastest-growing portion of the federal budget, and as interest rates begin to rise, it will skyrocket even faster.
The dirty little secret of Washington is that very few lawmakers actually care about the deficit or the debt.
https://www.nationalreview.com/2018/12/federal-debt-crisis-washington-short-term-thinking/
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