And here’s what we’ve all known all along: the United States is headed to a fiscal precipice that’ll lead to economic ruination for most Americans.
Though only a few months ago, these “take care of ourselvers” promised the economy would become “rock solid.” And while the economy is growing, government spending is outpacing it. “America’s return to $1 trillion deficits is a big problem for you.”
According to the Congressional Budget Office, “If current laws governing taxes and spending generally remained unchanged, the federal budget deficit would grow substantially over the next few years, CBO projects, with accumulating deficits driving debt held by the public to nearly 100 percent of GDP by 2028. That amount would be far greater than the debt in any year since just after World War II.”
Remember the rats, weasels and other swamp critters in Wonderland want to stop-gap fix this by whacking away at social security benefits, Medicare, Medicaid and other “non-rich” folks’ “entitlement payments.”