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Consider the math. If we reimburse our treasury at the rate of $186,000.00 per second, the speed of light, it will take more than six years to reduce our current $36 trillion debt to zero.
With our 36 trillion-dollar debt growing
And our 6 billion-dollar daily fees never slowing,
We can postpone foreclosure
By reducing exposure
Or cringe as we keep over-owing.
Waldo Johnston
Vero Beach, FL and Cooperstown
Last time, we saw how our National Debt ballooned to $33 trillion from the $6 trillion spent by the Trump Administration and $3 trillion by the Biden Administration for the COVID rescue. The unprecedented spending definitely helped create an inflationary economy.…
So let’s test this claim with a close look at the last 50 years. We go all the way back to 1974, and the Presidential Administration of Gerald Ford. During the 50 years from then until now, Republicans occupied the Oval Office for 27 years, and Democrats for 23. The Republicans, and the total years of their presidencies were: Ford (3), Reagan (8), Bush I (4), Bush II (8), and Trump (4). The Democrats were Carter (4), Clinton (8), Obama (8) and Biden (3, to date).…
The bottom line is this: Unless you radically change Social Security, Medicare, or Medicaid, all of which would require legislative action and the signature of a president, there are only two real choices to reduce spending.…