The rising national debt should have every American concerned. How much money does the federal government currently have? Assets of about $5.95 trillion. But the debt clock shows we owe a scary $28.8 trillion. And we’re reaching the legal debt limit, which we’re told must be raised to prevent a catastrophic default.
President Donald Trump, who entered the White House in 2017 and looked like a sure-fire bet for reelection in 2020, had a plan for dealing with this. But we don’t have Trump as president any more.
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By the way, the debt clock woefully understates the real situation, which you can find by clicking over to the much more disturbing official Financial Report of the United States Government.
That’s right. Our “friends” in government conceal the REAL debt – conveniently hiding obligations from you like Social Security and Medicare and other things based on rosy “assumptions.” What does all that total? Are you ready for this? You better sit down for this one: $146.6 trillion.
But let’s just keep track of the unofficial debt clock for now. It’s scary enough.
How does this present an opportunity to avoid the economic Armageddon Joe Biden is foisting on us at this moment in terms of inflation, radical spending, the border crisis, leaving Americans in Afghanistan and his own inability walk, talk and chew gum?
You’re going to be hearing a lot about the debt ceiling over the next few days. Don’t believe anything you hear in the fake media. I have experience with them that goes back to 2011 days. They lie. And they have friends in Big Tech, don’t you know? And it’s even worse now since they helped STEAL THE 2020 ELECTION FROM DONALD TRUMP!
Senate Minority Leader Mitch McConnell has said he does not expect members of his party to support a measure authorizing the government to borrow the money it will need to meet its obligations later this year.
McConnell said, “I can’t imagine a single Republican in this environment that we’re in now – this free-for-all for taxes and spending – to vote to raise the debt limit.”
Democrats, McConnell said, will have to take full responsibility for increasing the federal debt, suggesting that they do so using a process called “budget reconciliation,” which allows a bill to bypass the 60-vote margin in the Senate imposed by the filibuster.
South Dakota Sen. John Thune, the third-ranking Republican in the Senate, echoed McConnell, saying, “I don’t think there’s a single Republican senator who views increasing the debt limit so that Democrats can expand government and spend massive amounts as something they in the end would want to support.”
The current national debt is 26% more than the U.S. gross domestic product. Just think what it will be with another three years of Joe Biden, who’s pushing a never-ending suspension of the debt ceiling, especially if we don’t get big hardline Republicans to take control of both houses of Congress after next year’s midterm elections!
Now, granted, McConnell and Thune are both squishes, but it sounds like they’re confident of denying the Democrats 10 votes in the Senate. That’s great! So we work and pray for a freer and fairer election in 2022, more so than the one in 2020, which must be our focus.
And it must be a no-vote on the Democrats’ $3.5 trillion, 10-year spending plan – with the help of Democratic Sens. Joe Manchin and Kyrsten Sinema.
It’s worth a note of caution, at this point, to let you know that some rather unfriendly people own our debt – including CHINA to the tune of $1.07 trillion. But we should consider that a healthy down payment on a settlement to the U.S. for sending COVID-19 here. Don’t you think? Of course, that’s something better negotiated with President Trump than with Joe Biden or Kamala.
These are incredibly dangerous times. We must remain focused on the possible now.
We at WND developed the “No More Red Ink” campaign in 2011 to force the Republicans to do the right thing for the country. It was extraordinary what we accomplished. Plus I wrote “The Tea Party Manifesto,” which targeted Republicans who had blinders on for the most part. But it’s not the time for that fight now. Budget reconciliation is a realistic solution now, the only achievable one considering the cards we’ve been dealt.
Take it from me, I’ve been in this movement a long time.
Photo by Cedaen Aran on Unsplash. Article cross-posted from WND.
Ira Bershatsky offers consultations to those who want to invest in precious metals. During these consultations, he will match your current financial situation with the best physical precious metal purchases whether you want to rollover your IRA or have coins discreetly shipped to your home. You will not talk to a telemarketer or sales rep. You will talk to a true expert in precious metals with decades of experience helping people protect and advance their wealth.
