National Debt: Who Cares?

which of the following is not a primary source of corporate debt financing? This is a topic that many people are looking for. star-trek-voyager.net is a channel providing useful information about learning, life, digital marketing and online courses …. it will help you have an overview and solid multi-faceted knowledge . Today, star-trek-voyager.net would like to introduce to you National Debt: Who Cares?. Following along are instructions in the video below:

“The 1958 movie. The blob starring a young nsteve mcqueen. A giant expanding mass. A a blob threatens to destroy an entire town nand everyone in it it keeps growing growing and no one can nstop.

It the united states debt is like that blob unlike. The fictional blob it threatens to ndestroy more than an entire town it threatens the entire nation. Where is steve mcqueen. When you need him here are some numbers.

The national debt currently stands at 22 ntrillion. Dollars. That s trillion with a t ten years nago. It was 10 trillion dollars ten years from now.

It s projected to be n. 34. Trillion..

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The interest payment on our debt is currently n 300 billion dollars per year heading towards a projected 1 trillion dollars within a decade at that point a fifth of all federal taxes nwill go towards the interest on the debt not education infrastructure and defense. You nknow. The stuff government is supposed to do and that s with historically low interest nrates imagine if those rates. Normalized well.

Maybe you don t want to imagine. It. Nbecause that picture is very dark in a better world voters would be marching non washington. Demanding that our politicians dig us out of this hole before we re buried nin.

It in the real world. Almost no one cares. But we should care and any thinking person left or right understands nwhy. No individual and no nation can accumulate ndebt indefinitely.

Europe was able to bail out greece with some nloans a few years ago. But greece is a small country if the us goes boom there s going nto be no one to bail us out. So what s driving the debt and more importantly..

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How do we drive ourselves nout of it the debt has been growing for decades it got supercharged by the 2008 recession revenues fell while spending soared under president obama the debt doubled from n 10 trillion dollars to 20 trillion in the first two years of the trump administration nwe ve added another 2 trillion dollars. So what are we to do first we need to identify the primary source nof. The problem. It s pretty basic you can talk about defense spending welfare.

Nspending or bloated budgets. All you want. But it really comes down to two programs nsocial security and medicare unless we get a handle on these monsters nthe debt blob will continue to expand until it overwhelms us according to data from the congressional budget noffice these two programs alone face a 100 trillion dollar shortfall over the next three ndecades how is that possible well for starters you ve got 74 million nbaby boomers rolling into retirement age 10000. A day on top of that medicare.

Recipients. Typically nreceive benefits that are triple the size of what they paid into the system. Without some serious adjustments. These programs nare going to fail.

This is not the fault of retirees. It is simple demographics and math paying all promised benefits would require neither raising the payroll tax from its current 153. To 33 or imposing a 34 national sales ntax..

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No squeezing the rich slashing defense nor. Eliminating welfare won t come close to paying the bill. Neither will any plausible level of economic ngrowth. The 100 trillion dollar hole is too big so let s talk fairness.

If mom and dad can t make the mortgage payment nthey. Don t tell the kids to get full time jobs to make up the shortfall. They move to a different house that matches. Ntheir budget.

Likewise when america promises senior citizens nbenefits far exceeding what they paid into the system. We should not tell young working nfamilies that their taxes must be doubled or tripled. We should instead pare back those benefits nto an affordable level that s only fair and sensible right. But when it comes to the debt.

Neither of nthese qualities seems to figure in so. What can we can do more to the point. What can you do first be sure to save for your own retirement do not overly depend on a government that nhas promised more than it can possibly pay out to take care of you second tell washington to get a spine and ndeal with social security and medicare..

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People. Live. A lot longer than they did when nsocial security was first conceived in 1935. We need to gradually raise the social security neligibility age to reflect that it s now 66.

We need to get it to 68. And then 70. That s pretty straightforward medicare is trickier. But a good solution already exists amazingly nwithin the medicare system.

The prescription drug program almost unprecedented among government programs nthis one has come in below initial projected costs. Why because insurance companies have to compete nfor seniors prescription drug business. So let s give seniors more options to shop naround for the medicare plans they want more choice and competition would stabilize ncosts and give us a fighting chance to keep medicare solvent. So are any of these ideas being seriously ndiscussed in the halls of government.

We all know the answer to that question here comes the blob ” ..

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