At some point in the next six to eight years the federal government will not be able to make full social security payments to recipients(don't believe they have until 2034 under current the numbers). In another six to eight years the federal deficit will be near 50 trillion dollars at our current rate of deficit spending. If interest rates on the national debt trickle back to a long term average of about 5% everyone is screwed as interest payments will consume an exorbitant amount of the budget. At that point what do you cut? It won't be pretty. That it why politicians are trying to create a monolithic executive branch that is all powerful and will have total control over everything..to include how you will live. Look back to the Soviet Union and how those not belonging to the political elite, for an example of how you will live under this system.
I have not seen this mentioned or analyzed but I wonder how much inflation was affected by allowing 10M people to flood into this country. That creates a demand on housing, food, medical care etc. Most of them are not producing anything either. It also caused a lot of government hiring.
So this guy put the entire debate transcript in ChatGPT and asked ChatGPT to analyze the moderator bias and every single person needs to hear this because oh my God is it right on the money.
I'm not sure, Jeff, if your budget pie chart is outdated, reflecting those recent salad days when the interest payments from the Treasury were near zero, or if those expenses are classified under the 9.1% dubbed "Remainder", but the CBO estimates 2024 interest payments of $892b, which is nearly 20% of the Federal budget.
One of your best Mr Carter. Please keep up the good work. Hopefully a wide audience will be exposed to and comprehend your output, and recognize its honesty and the absence of bias.
Its working out great! That's why a 12 pack of pop is $9.99 in Illinois and ground beef at Costco is $4.99. The pop at one time was $2.99 and the beef was $2.99 a lb. The dems screwed everyone with their IRA which by the way shouldn't have been called according to Biteme, but we have to pass it to see whats in it. I watched the debate and neither candidate really answered any of the questions. The problem I have is Trump fell for all her traps hook line and sinker. I am still voting for Trump no matter what. TRUMP 2024
I think the Left is dangerous to our well-being, but I don't think the worst of these economic/taxation policies would pass. Yes, they will raise existing taxes, but I think they know how damaging these new things are; they say them to excite their base of economic illiterates. I also think they hang out with many rich leftist liberals who quietly pull them aside and tell them not to really do these things. In the end, they'll listen to their donors before they listen to the purple-hair nose-rings. It is their own version of Failure Theater. But they will "compromise" by raising tax rates where they can so they can give their base something.
Given the last 4 years, how much more damage are you willing to accept. The 'Inflation Reduction Act' was passed in the Senate with Kamala casting the tie breaking vote. The Biden administration has run wild with regulations and shows no sign of stopping despite Chevron. The approach is to generate the regulations and fight in the courts. And the current crop of Democratic congresscritters has shown no inclination to do anything but cheer the bureaucracy on quietly and tell their constituents that nothing can be done. My term for the rich liberal leftists is 'useful idiots'.
Both candidates are fatally flawed. Trump’s inability to control his emotions, to fall for the bait, as was so obvious in the debate, is tantamount to his economic ignorance (Tariffs are our Salvation). People are not voting for him because of this dangerous impetuousness, which unleashed at inopportune times could be disastrous. Harris is a vapid mouthpiece. We have waited for him to grow up. He has failed miserably. Neither candidate deserves anyone’s support. I’m voting for Ike.
I would recommend you seriously consider what the lessor evil is before jumping on that. My take is that Heinlein had good advice.
"If you are part of a society that votes, then do so. There may be no candidates and no measures you want to vote for, but there are certain to be ones you want to vote against. In case of doubt, vote against."
At some point in the next six to eight years the federal government will not be able to make full social security payments to recipients(don't believe they have until 2034 under current the numbers). In another six to eight years the federal deficit will be near 50 trillion dollars at our current rate of deficit spending. If interest rates on the national debt trickle back to a long term average of about 5% everyone is screwed as interest payments will consume an exorbitant amount of the budget. At that point what do you cut? It won't be pretty. That it why politicians are trying to create a monolithic executive branch that is all powerful and will have total control over everything..to include how you will live. Look back to the Soviet Union and how those not belonging to the political elite, for an example of how you will live under this system.
I have not seen this mentioned or analyzed but I wonder how much inflation was affected by allowing 10M people to flood into this country. That creates a demand on housing, food, medical care etc. Most of them are not producing anything either. It also caused a lot of government hiring.
hard to measure but the government spending because of it isn't.
Unrelated, but I gotta share it somewhere:
Insurrection Barbie
@DefiyantlyFree
So this guy put the entire debate transcript in ChatGPT and asked ChatGPT to analyze the moderator bias and every single person needs to hear this because oh my God is it right on the money.
https://x.com/DefiyantlyFree/status/1834252484761846123
Wow that’s a good find.
Muir is quite persuasive. ABC world news tonight is propaganda versus actual news, but he does it is such a deviously sugar coated fashion.
Well done!
I'm not sure, Jeff, if your budget pie chart is outdated, reflecting those recent salad days when the interest payments from the Treasury were near zero, or if those expenses are classified under the 9.1% dubbed "Remainder", but the CBO estimates 2024 interest payments of $892b, which is nearly 20% of the Federal budget.
@kurteckhardt the interest we pay on the debt is now more than we spend on defense.
I hit the ‘like’ button because you are correct about interest payments exceeding defense spending, not because it’s a good thing.
What a mess.
I got the most recent I could. You are correct about interest payments
One of your best Mr Carter. Please keep up the good work. Hopefully a wide audience will be exposed to and comprehend your output, and recognize its honesty and the absence of bias.
Its working out great! That's why a 12 pack of pop is $9.99 in Illinois and ground beef at Costco is $4.99. The pop at one time was $2.99 and the beef was $2.99 a lb. The dems screwed everyone with their IRA which by the way shouldn't have been called according to Biteme, but we have to pass it to see whats in it. I watched the debate and neither candidate really answered any of the questions. The problem I have is Trump fell for all her traps hook line and sinker. I am still voting for Trump no matter what. TRUMP 2024
Thanks again, Jeff, for your succinct economic analysis. We rely on you for clear explanations
I think the Left is dangerous to our well-being, but I don't think the worst of these economic/taxation policies would pass. Yes, they will raise existing taxes, but I think they know how damaging these new things are; they say them to excite their base of economic illiterates. I also think they hang out with many rich leftist liberals who quietly pull them aside and tell them not to really do these things. In the end, they'll listen to their donors before they listen to the purple-hair nose-rings. It is their own version of Failure Theater. But they will "compromise" by raising tax rates where they can so they can give their base something.
Given the last 4 years, how much more damage are you willing to accept. The 'Inflation Reduction Act' was passed in the Senate with Kamala casting the tie breaking vote. The Biden administration has run wild with regulations and shows no sign of stopping despite Chevron. The approach is to generate the regulations and fight in the courts. And the current crop of Democratic congresscritters has shown no inclination to do anything but cheer the bureaucracy on quietly and tell their constituents that nothing can be done. My term for the rich liberal leftists is 'useful idiots'.
Both candidates are fatally flawed. Trump’s inability to control his emotions, to fall for the bait, as was so obvious in the debate, is tantamount to his economic ignorance (Tariffs are our Salvation). People are not voting for him because of this dangerous impetuousness, which unleashed at inopportune times could be disastrous. Harris is a vapid mouthpiece. We have waited for him to grow up. He has failed miserably. Neither candidate deserves anyone’s support. I’m voting for Ike.
I am voting for Trump....least downside.
I would recommend you seriously consider what the lessor evil is before jumping on that. My take is that Heinlein had good advice.
"If you are part of a society that votes, then do so. There may be no candidates and no measures you want to vote for, but there are certain to be ones you want to vote against. In case of doubt, vote against."
Robert A. Heinlein