For decades, America has been accumulating debt, largely due to the welfare and warfare spending of the DC politicrats, much of which is unconstitutional. Aiding that is the Federal Reserve with money printed out of thin air, in violation of the Constitution, which devalues our dollar. On Monday, Prager U released a video dealing with the National Debt titled “National Debt: Who Cares?”
While the commentator does get at least one thing wrong and that is that government is “supposed” to be involved in “education,” the rest of the video seems pretty sound.
While some people long for the days of President Ronald Reagan, they may have forgotten that Reagan actually put us three times further in debt than when he took office, despite the “trickle down economics” he theorized.
Surely, Bill Clinton, George W. Bush and the usurper Obama didn’t help either as all of them built on Regan’s debt, basically doubling it with each of their two terms in office.
However, as the video demonstrates, just ten years ago, the US was only $10 trillion in debt.
Today, that number is at $22 trillion, up $3 trillion since Donald Trump took office, and it’s projected to be at $34 trillion in another ten years.
Currently, the US is paying about $300 billion in interest alone on our debt, and within five years, that number is expected to grow to $1 trillion!
That’s $1 trillion just to pay interest on the debt!
President Trump made many promises, many of them still unkept. Among those was the promise to eliminate the national debt, but sadly, he has continued to spend just like his predecessor. Each year has run $1 trillion in deficit spending, just like the usurper, Barack Hussein Obama Soetoro Sobarkah.
And I probably need to just back this up because people will think I’m just “Trump hating” instead of pointing out a reality because in Trump’s words, this is “going to be so easy.”
For the next three years, we’re looking at over $1 trillion deficit spending. That’s not the way you eliminate debt. It’s how you incur more debt.
To be fair, plenty of people have talked about eliminating the debt while very few have actually meant what they said about real spending cuts that would have impacted the national debt, like Ron Paul and Gary Johnson did in 2012.
The Manhattan Institute’s Brian Riedl explains how we got here and what you can do about it.
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