In his last-week State of the Union address, President Trump didn’t say a word about the debt and deficits. Counterstatements provided by the Democrats didn’t include that ‘tiny’ detail either. One Congressman received a question about the debt and deficits. His reply was “No one here cares!”.
Which is not true. A lot of Americans care. We know it is our debt and the economy sooner or later will fall, when many of these politicians will be either resigned or retired.
So what does it mean for all of us? The debpt will lead to $500 billion collected in taxes will turn into an interest payment next year. That’s $500 billion going down the drain.
They are complaining that we need to improve streets, trains, schools, hospitals, support children, the poor, and the infirm, while they are wasting our money on nothing as a result of the debt they created. And they even can’t be bothered to inform us about it.
Let’s have a look on other numbers. According to estimates, in just a couple of years the debt will reach $30 trillion and $1 trillion will be paid as an interest on the debt each year. About $3 billion is added to the debt every day. And about $1.5 billion is going towards the interest on the debt. And the Congressman with 40 years of experience in DC claims that the budget agreed the other day represents their values. And no one ever mentioned the giant debt and deficits.
The reality is that the people who have been trusted to fix this sort of situations and see them coming, are acting like it’s a trifle not worthy of their attention.