How to view the budget debate in DC
Elon Musk and his team at DOGE have been doing yeoman’s work at the federal level. It’s absolutely refreshing to see and hear this kind of discussion emanating from our nation’s capital. Lots of folks have campaigned for office talking a lot of DOGE-type talk, but ended up doing ZERO. Making a bigger mess, as a matter of fact.
Right now, we have competing spending plans in the Congress: one from the GOP-controlled House, and one from the GOP controlled Senate.
The House is talking about cutting $1.5 trillion over TEN YEARS. The Senate is talking about cutting $4 trillion over TEN YEARS.
Now, let’s compare THAT information with our national budget deficit and debt. (Shall we?)
Column 1 is the fiscal year. Column 2 is the amount (in billions) the budget deficit grew that year. Column 3 is how much the federal debt grew (in billions) that fiscal year.
For example, in 2020, the budget deficit grew by $3.1 trillion and the federal debt grew by $4.2 trillion. In 2023, the deficit grew by $1.7 trillion and the debt grew by $2.2 trillion.
And this crowd in Washington – right now — is fighting over whether to cut an amount over a ten year period roughly equal to the deficits they run up in JUST ONE YEAR.
*Shameless. Absolutely shameless.*
(*Hey, the lobbyists must be fed.*)
The budget deficit has already grown to $1.3 trillion just over the last six months.
If you check out this link, you’ll see up-to-the-minute real-time stats on how screwed up our national economy is. As of this writing, our current national debt is at $36.7 trillion and climbing. (The GOP-led Senate is trying to raise the debt limit — our national credit limit — by another $5 trillion.)
The amounts they are proposing to cut (over ten years) are roughly equal to the amount of interest we have to pay each year on all that debt.
I have reached the point where I honestly don’t believe the folks we send to Washington are serious about fixing our national economy. Not even the ones with (R) next to their names.
We’re screwed, people.
Buy gold and silver, and use it for transactions. It is the only true form of money as stated by the US Constitution. Let the federal government drown in its fiat dollars.