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  • 'It's Over' in 11 Years

    Rep. Dave Brat: Deficit Is So Huge, ‘It’s Over’ in 11 Years

    ...
    Glenn asked Rep. Brat, who sits on the House Budget Committee, about the failures of both Democrats and Republicans in fixing the budget and reducing the deficit.
    “The problem is, again, the process,” Glenn said. “We are just doing these continuing resolutions, which takes the power of Congress’ time every time. We know that it was the Democrats that started this unconstitutional process, but the Republicans have been just as bad. Are we going to see an end to this?”
    Rep. Brat agreed the process is a problem and outlined specifically just how bad things are.
    “If the people don’t know, under Republican leadership, the deficit this year is going up for the first time since ’09 to $105 billion. It’s going up to $540 billion. That’s a half a trillion dollars,” Rep. Brat said. “And the biggest problem is the unfunded liability piece — the Medicare, Social Security, Medicaid, etc. In 11 years, all federal revenues will go to those mandatory programs. There won’t be one dollar for the military or running government, transportation, education . . . nothing. And you can go to CBO. The main graph is sitting right there. In 11 years, it’s over.”
    ....
    http://www.glennbeck.com/2016/02/29/...r-in-11-years/


    Anyone whom wants to chase down the CBO charts;
    https://www.cbo.gov/
    Budget and Economic Data


    Also, this has some interesting figures for perspective;
    http://www.usdebtclock.org/index.html
    TANSTAAFL = There Ain't No Such Thing As A Free Lunch

  • #2
    It is over NOW!

    The entire world economic system is UNsustainable - NOW!

    drowning is red ink!
    The PLO claims ALL of Israel!!! There will and can NEVER be a "2 State solution".

    Comment


    • #3
      Exactly how is a CR unconstitutional? Please quote the document.
      “The time has come,” the Walrus said,
      “To talk of many things:
      Of shoes—and ships—and sealing-wax—
      Of cabbages—and kings—
      And why the sea is boiling hot—
      And whether pigs have wings.”
      ― Lewis Carroll

      Comment


      • #4
        Originally posted by Combat Engineer View Post
        Exactly how is a CR unconstitutional? Please quote the document.
        That appears to be Rep. Dave Brat's opinion/interpretation, so may need to ask him. IIRC, the Constitution doesn't say anything about "continuing resolutions" and these look to fall within the bit about Congress making some of it's own rules of operation. The intent as worded would seem that the Budget should be an active discussed and adjusted item each year, not rubber stamped boiler plate passed on.

        Meanwhile the focus of the OP is the matter of Deficit and Debt,especially at the National level.

        Are you OK with where it is?
        How much It's increased in past seven+ years?
        Don't mind the continuing trend to grow and expand both Deficit and Debt in the years to come?
        TANSTAAFL = There Ain't No Such Thing As A Free Lunch

        Comment


        • #5
          Originally posted by G David Bock View Post
          That appears to be Rep. Dave Brat's opinion/interpretation, so may need to ask him. IIRC, the Constitution doesn't say anything about "continuing resolutions" and these look to fall within the bit about Congress making some of it's own rules of operation. The intent as worded would seem that the Budget should be an active discussed and adjusted item each year, not rubber stamped boiler plate passed on.

          Meanwhile the focus of the OP is the matter of Deficit and Debt,especially at the National level.

          Are you OK with where it is?
          How much It's increased in past seven+ years?
          Don't mind the continuing trend to grow and expand both Deficit and Debt in the years to come?
          I'm betting on the fact that the congressman is being loose with facts, starting with the CR being unconstitutional and continuing in the rest of his statement. I'll reserve judgement until you can post the actual figures rather than generic link to the CBO data webpage.

          Edit,

          Just looked at some data from the link you gave. Congress gritter is lying. Just as I thought.
          “The time has come,” the Walrus said,
          “To talk of many things:
          Of shoes—and ships—and sealing-wax—
          Of cabbages—and kings—
          And why the sea is boiling hot—
          And whether pigs have wings.”
          ― Lewis Carroll

          Comment


          • #6
            Originally posted by Combat Engineer View Post
            I'm betting on the fact that the congressman is being loose with facts, starting with the CR being unconstitutional and continuing in the rest of his statement. I'll reserve judgement until you can post the actual figures rather than generic link to the CBO data webpage.

            Edit,

            Just looked at some data from the link you gave. Congress gritter is lying. Just as I thought.
            So you are saying the Fed isn't $19+ trillion in direct Debt (Deficit accumulation) and engaged at an additional $121+ Trillion in Unfunded Liabilities ??? !!!

            And you are denying that the current trends of growth won't bunkrupt within eleven years?!

            User friendly data from CBO and other Fed sources are here;
            http://www.usdebtclock.org/index.html

            TANSTAAFL = There Ain't No Such Thing As A Free Lunch

            Comment


            • #7
              Originally posted by G David Bock View Post
              So you are saying the Fed isn't $19+ trillion in direct Debt (Deficit accumulation) and engaged at an additional $121+ Trillion in Unfunded Liabilities ??? !!!

              And you are denying that the current trends of growth won't bunkrupt within eleven years?!

              User friendly data from CBO and other Fed sources are here;
              http://www.usdebtclock.org/index.html

              Read his quote and then use the source YOU posted to try to support the 11 year figure. Not true, so he lied about CR's and he lied about mandatory spending. Why should I believe anything else he says?
              “The time has come,” the Walrus said,
              “To talk of many things:
              Of shoes—and ships—and sealing-wax—
              Of cabbages—and kings—
              And why the sea is boiling hot—
              And whether pigs have wings.”
              ― Lewis Carroll

              Comment


              • #8
                Originally posted by Combat Engineer View Post
                Read his quote and then use the source YOU posted to try to support the 11 year figure. Not true, so he lied about CR's and he lied about mandatory spending. Why should I believe anything else he says?
                Considering you are showing how clueless you are about economics, why should I care what you think?

                Other than you may be too typical of too many in society willing to be lead by their ignorance down a fiscally destructive path ... ???

                That eleven year figure might be a bit too optimistic ... (may be sooner than that!) ...
                TANSTAAFL = There Ain't No Such Thing As A Free Lunch

                Comment


                • #9
                  Originally posted by G David Bock View Post
                  Considering you are showing how clueless you are about economics, why should I care what you think?

                  Other than you may be too typical of too many in society willing to be lead by their ignorance down a fiscally destructive path ... ???

                  That eleven year figure might be a bit too optimistic ... (may be sooner than that!) ...
                  Funny.

                  In other words the Congress critter lied his ass off and can't find anything to support his comments.
                  “The time has come,” the Walrus said,
                  “To talk of many things:
                  Of shoes—and ships—and sealing-wax—
                  Of cabbages—and kings—
                  And why the sea is boiling hot—
                  And whether pigs have wings.”
                  ― Lewis Carroll

                  Comment


                  • #10
                    Sooo...

                    Elect Ross Perot?

                    Abit late don't you think?

                    Comment


                    • #11
                      Time to invest in a boat load of ammunition......not because you're going to shoot it all, but because you can sell it and be rich!
                      You'll live, only the best get killed.

                      -General Charles de Gaulle

                      Comment


                      • #12
                        Originally posted by BKnight3 View Post
                        Sooo...

                        Elect Ross Perot?

                        Abit late don't you think?
                        My wife and I both voted for Mr Perot in 1992. We were getting tired of the Dems and GOP even back then.
                        “The time has come,” the Walrus said,
                        “To talk of many things:
                        Of shoes—and ships—and sealing-wax—
                        Of cabbages—and kings—
                        And why the sea is boiling hot—
                        And whether pigs have wings.”
                        ― Lewis Carroll

                        Comment


                        • #13
                          Originally posted by asterix View Post
                          Time to invest in a boat load of ammunition......not because you're going to shoot it all, but because you can sell it and be rich!
                          Sell it for what...and to whom?

                          If you sell it for money, the crash of the economy will leave you with worthless banknotes. And you're probably selling it to someone who will then shoot it at you.
                          Quis Custodiet Ipsos Custodes? Who is watching the watchers?

                          Comment


                          • #14
                            Originally posted by Mountain Man View Post
                            Sell it for what...and to whom?

                            If you sell it for money, the crash of the economy will leave you with worthless banknotes. And you're probably selling it to someone who will then shoot it at you.
                            Possibly to trade it for necessities but if you've got the ammo there's the temptation to just take rather than trade.
                            Human history becomes more and more a race between education and catastrophe (H G Wells)
                            Mit der Dummheit kaempfen Goetter selbst vergebens (Friedrich von Schiller)

                            Comment


                            • #15
                              11 years?
                              THIS year is going to see some nasty stuff, something about as bad as 2008, or worse.

                              I think it's asking a bit much to think they can squeeze another decade out after that, I give it about half that.
                              And that's for the whole world, not just the US. In fact, the next big one will probably start in the Orient.
                              "Why is the Rum gone?"

                              -Captain Jack

                              Comment

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