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Pay up, America: Each of us owes $100K as national debt balloons to $35 trillion

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Opinion News

Budget,Debt,Economy

'The New York Times' reports that the United States is on track to add trillions of dollars to the national debt in the next ten years. On June 18, the Congressional Budget Office said that the national debt will exceed $56 trillion by the year 2034.

Opioid orphans, Amazon’s not afraid to fail and other commentariesThat’s more than we spend on defense — on infrastructure, education, poverty programs . . . everything, but Social Security and Medicare.

“There’s nothing to prevent the federal government,” says Stephanie Kelter, Sen. Bernie Sanders’ economic adviser, “from creating as much money as it wants to and paying it to someone.”After World War I, the German government couldn’t afford its reparation payments, so it printed more money.Pols promise ‘free stuff’ yet the US economy has only grown LESS free

Since the stock market’s risen almost 30,000 points in 15 years, there are a lot of absurdly rich people around.But rich people already pay a bigger share, and raising taxes on the rich wouldn’t even get us out of the mess we’re in.

Source: Loan Digest (loandigest.net)

Budget Debt Economy Joe Biden U.S. Debt

 

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